WION’s Business Desk brings you this daily round up of global stories from the world of business and economy.
Hyundai’s Ambitious Move: Plans $3 billion IPO for the Indian unit
South Korean automaker, Hyundai Motor, is gearing up for a groundbreaking move in the Indian market, eyeing an Initial Public Offering (IPO) for its Indian unit.
Spain to invest $502 million in desalination plants to combat drought in Catalonia
In response to Catalonia’s ongoing three-year drought, Spain has announced an investment of $502 million (467 million euros) in the construction of two desalination plants along the Catalan coast.
FAA clears 94pc of Boeing 737 MAX 9 fleet after emergency; focus shifts to overhaul oversight
Following a mid-air emergency last month that led to the grounding of Boeing 737 MAX 9 planes, the US Federal Aviation Administration (FAA) announced on Monday that nearly 94 per cent of these planes have been inspected and returned to service.
“Russia’s Google” Yandex to exit in $5.2 billion deal, a historic corporate shift
Yandex NV, often referred to as “Russia’s Google,” has finalised a deal worth 475 billion roubles ($5.21 billion) to sell its major businesses to a consortium of Russian investors.
US imposes visa restrictions on spyware abusers and manufacturers: Report
In a move to curb the global proliferation of commercial spyware, the United States has announced a comprehensive plan to restrict visas for abusers and manufacturers involved in the sale of encryption-busting malware.
Nvidia surges to record high as Goldman Sachs boosts price target on AI growth
Nvidia reached a new pinnacle on Monday as Goldman Sachs increased its price target for the company’s shares, anticipating earnings growth driven by the ongoing artificial intelligence (AI) boom.
Snap announces 10 per cent workforce cut amid tech industry layoffs: Report
Social media giant Snap, the parent company of Snapchat, disclosed on Monday its decision to lay off approximately 528 employees, constituting 10 per cent of its global workforce.
Huawei faces production hurdles as AI chip demand surges, impacting Mate 60 phones
Huawei, the Chinese tech giant, is facing production challenges as it grapples with surging demand for its artificial intelligence (AI) chips, leading to a slowdown in the manufacturing of its premium Mate 60 smartphones.
Google faces September trial date in US antitrust lawsuit over digital ads: Report
A US federal judge has set a trial date of September 9, 2024, for the antitrust lawsuit filed by the US Justice Department and a coalition of states against Google.
