WION’s Business Desk brings you this daily round up of global stories from the world of business and economy.
OPEC+ extends oil output cuts amid global growth concerns: Report
In a bid to strengthen the oil market against concerns over global growth and escalating output from non-member countries, OPEC+ members, led by Saudi Arabia and Russia, have agreed to prolong voluntary oil output cuts into the second quarter of the year.
Nikkei 225 surpasses 40,000 mark amid historic rally in Japanese stock market
Japan’s Nikkei 225 Stock Average surged beyond the psychologically significant threshold of 40,000 points for the first time on Monday.
Japan government contemplates declaring an end to the deflation battle, sources say
The Japanese government is contemplating on officially declaring an end to the prolonged battle against deflation; Kyodo News reported citing sources familiar with the matter.
New Zealand central bank implements cyber reporting rules amid rising online threats
In a move to strengthen cybersecurity, New Zealand’s central bank announced on Monday that it was implementing stringent reporting regulations for major cyber incidents.
Byju’s faces fund access hurdles amid legal dispute, CEO expresses regret over salary delay
Indian edtech startup, BYju’s finds itself embroiled in a legal dispute with investors, hindering its access to recently raised funds and impeding its ability to compensate employees promptly.
India’s Zomato soars to record high, defying slow trend in internet stocks
Zomato, India’s leading food delivery platform, reached a record high in share value on Friday, signalling a notable turnaround in investor sentiment.
Arkhouse and Brigade raise Macy’s buyout offer to $6.6 billion, pressing for board’s attention
In a bid to acquire Macy’s, Arkhouse Management and Brigade Capital Management have revised their buyout proposal, escalating the offer to $24 per share, amounting to a total valuation of $6.6 billion.
US funding bill blocks China from purchasing petroleum reserve oil
Following a bipartisan consensus, the newly unveiled US funding legislation includes a provision barring China from acquiring oil from the Strategic Petroleum Reserve.
Toyota set to invest $2.2 billion in Brazil, unveil new vehicle models
Toyota, the Japanese automaker, is confident to announce an investment of $2.2 billion in Brazil over the next few years, according to statements made by Brazil’s vice-president.
Moody’s raises India’s GDP forecast in the middle of strong economic momentum
Moody’s Investor Service has revised its gross domestic product (GDP) forecast for India, citing the impressive performance of the South Asian economy in recent quarters.
Banco Santander announces job cuts in US amid digitalisation drive
Banco Santander SA, a prominent Spanish banking entity, has implemented workforce reductions in the United States, cutting approximately 320 jobs as part of its strategic shift towards digital operations.
BYD launches new EV model with aggressive pricing amid market competition
China’s leading electric vehicle (EV) manufacturer, BYD, has unveiled a new iteration of its popular car model amid a fierce price competition within the world’s largest automobile market.
