WION’s Business Desk brings you this daily round up of global stories from the world of business and economy.
Capital One to acquire Discover Financial in $35.3 billion all-stock deal, creating payment giant
In a significant move set to reshape the financial landscape, Capital One, backed by Warren Buffett, has announced plans to acquire Discover Financial Services in a landmark all-stock transaction valued at $35.3 billion.
Paytm Assures Users: QR Code, Soundbox to remain operational amid regulatory scrutiny
Amid regulatory challenges and uncertainties, Paytm’s CEO, Vijay Shekhar Sharma, reaffirmed the continuity of the company’s QR code and Soundbox services beyond March 15, providing reassurance to users amidst ongoing concerns.
Byju’s faces investor discontent with calls for ouster of CEO Byju Raveendran
Amidst financial turbulence, Byju’s, the prominent ed-tech firm, finds itself embroiled in investor discontent, with calls for the ouster of CEO Raveendran and restructuring of its board.
Chinese banks slash mortgage reference rate amid property sector concerns
Chinese banks have announced a significant reduction in a key reference lending rate for mortgages, marking the most substantial cut on record and signalling intensified support for the struggling property sector.
EU launches formal probe into TikTok over alleged content breaches
The European Union has initiated a formal investigation into TikTok, the popular short video app owned by ByteDance, over potential breaches of online content regulations designed to safeguard children and ensure transparent advertising practices.
Turkey-Russia trade suffers as US sanctions loom, insights reveal
Recent threats from the US to impose sanctions on financial institutions conducting business with Russia have reverberated through Turkish-Russian trade, causing disruptions and delays in payments for imported oil and Turkish exports.
Microsoft commits $2.1 billion to boost AI and cloud infrastructure in Spain
Microsoft, the US software giant, is set to embark on a groundbreaking initiative in Spain, injecting $2.1 billion into the expansion of artificial intelligence (AI) and cloud infrastructure over the next two years.
Ukrainian businesses express concerns over proposed mobilisation law impact on economy
Leading business associations in Ukraine have raised alarms over proposed draft legislation that aims to overhaul the mobilisation process for troops.
Germany teeters on the brink: Recession looms as Europe’s economic engine sputters
Germany, the powerhouse of Europe’s economy, is currently navigating through turbulent economic waters. In its latest report, the Bundesbank has sounded the alarm of a looming recession.
Source: Thanks WIONews.com