Who is Alex Mashinsky, the man behind the alleged Celsius crypto fraud?

Alex Mashinsky, a co-founder of bankrupt crypto lender Celsius Network who prosecutors allege bilked investors out of billions, is a serial entrepreneur who has portrayed himself as a modern-day Robin Hood. Mashinsky, 57, fraudulently promoted Celsius as a safe alternative to banks, while concealing that it was losing hundreds of millions of dollars in risky investments, according to a lawsuit filed on Thursday by New York Attorney General Letitia James.

RERA Court imposes fine of ₹6 lakh on Vatika Ltd for violating builder-buyer agreement

The Real Estate Regulatory Authority court in Gurugram penalised Vatika Limited with over Rs 6 lakh for violating the Builder Buyer Agreement provisions. The landmark order by Judge SK Arora brought relief to five complainants who had booked commercial units in Vatika India Next project. Vatika allegedly transferred their units without consent to a different project, reducing unit sizes. Vatika Limited plans to appeal the court order.

China’s Dongfeng Mulls Making 100,000 Cars a Year in Italy

China's Dongfeng Motor Group is in talks with the Italian government to potentially build a plant in Italy with the capacity to produce over 100,000 vehicles annually. The move aims to strengthen Dongfeng's international presence, particularly in Europe's automotive market. These discussions could impact Stellantis, the Fiat maker, which has faced challenges in Italy. Dongfeng is considering focusing on hybrid cars for the Italian market due to the country's lower adoption of electric vehicles compared to its European counterparts.

Tesla layoffs: Global job cuts at Elon Musk company to impact China the most?

Tesla is cutting jobs globally, including in the U.S. and China, with layoffs affecting sales, tech, and engineering. CEO Elon Musk announced over 10% of the workforce will be let go due to falling sales and competition in the electric vehicle market. Layoffs in U.S. service centers and China sales teams are happening, while Tesla Germany denies reports of mass firings.

Microsoft Invests $1.5 Billion in UAE’s G42 in Pivot From China

Microsoft Corp. is investing $1.5 billion in UAE's top AI firm, G42, after the company ended cooperation with China to align with American technology. This deal, facilitated by US government negotiations, includes Microsoft President Brad Smith joining G42's board and using Azure cloud for AI applications. The investment aims to strengthen US-Middle East ties and limit Chinese access to AI technologies.

Apple says it wants to spend more on suppliers in Vietnam: What's the plan?

Apple Inc plans to increase investment in Vietnam, with CEO Tim Cook meeting Prime Minister Pham Minh Chinh to discuss boosting spending on suppliers and supporting clean water initiatives. Vietnam aims to facilitate Apple's investment with a new working group. The tech giant already manufactures products like iPads and AirPods in Vietnam, with suppliers like Foxconn and Intel investing in the country.

Nissan says it will make next-generation EV batteries by early 2029

Nissan plans to mass produce electric vehicles with advanced next-gen batteries by early 2029, aiming to catch up with rivals like Tesla and BYD. The new solid-state batteries promise more power, affordability, safety, and faster charging. The company plans to start commercial production in fiscal year 2028. Nissan officials are optimistic about the technology's potential impact on the EV market.

UAE Crown Prince directs government employees to work remotely. Here's why

Sheikh Ammar bin Humaid Al Nuaimi declares April 16, 2024, as a remote working day for Ajman government employees due to weather changes. This decision applies to all government departments in Ajman, except for essential roles that require on-site presence.

Rupee falls to a record low of 83.51 against US dollar

The rupee fell 9 paise to 83.53 against the dollar due to a strong US currency and high crude oil prices. Foreign fund outflows and negative equities trend also impacted. Dollar index rose to 106.34, while Brent crude futures hit USD 90.58. FIIs sold shares worth ₹3,268.00 crore. Wholesale inflation rose to 0.53%, and India's exports dipped in March.

Meta to temporarily shut down Threads in Turkey. Here's why

Meta Platforms Inc. will shut down Threads in Turkey due to data sharing concerns from local authorities. The Turkish Competition Authority fined Meta and ordered compliance by mid-December. Meta plans to appeal and stated that the suspension only affects Threads in Turkey. Threads will be unavailable from April 29.

Pakistan hikes fuel prices: Petrol at PKR 293.94, diesel at PKR 290.38 per litre

The Pakistani government increased petrol prices by PKR 4.53 per litre and high-speed diesel by PKR 8.14 per litre for the next fortnight, citing international market price changes. Petrol now costs PKR 293.94 per litre, and HSD costs PKR 290.38 per litre. The decision affects transport costs and inflation, impacting middle and lower-middle-class budgets. The government did not disclose kerosene and LDO prices.

Creating sexually explicit deepfake images to be criminalised in UK

The UK will criminalize sexually explicit deepfake images to tackle violence against women. Offenders face prosecution and fines for creating such content without consent. The government aims to combat the rise of deepfake technology used to humiliate victims. New laws will also target those capturing intimate images without consent. Aggravating factors will be considered for offenders causing harm through sexual misconduct.

Adidas Could Benefit From Nike’s Innovation Struggles, Morgan Stanley Says

Adidas AG is gaining favor in sports footwear fashion trends over Nike Inc. due to product innovation struggles. Morgan Stanley analysts upgraded Adidas stock, citing strong sell-out trends and a more rational pricing approach. Nike faces criticism for lacking freshness, with Adidas now seen as a more promising investment. Adidas shares rose 4.0% in Frankfurt, while Nike has fallen 14% this year.

Wholesale inflation inches up marginally to 0.53% in March

Wholesale inflation in India rose to 0.53% in March due to increased prices of vegetables, potato, onion, and crude oil. Food inflation increased to 6.88%, with vegetable prices rising by 19.52%. Meanwhile, retail inflation dropped to 4.85% in March, attributed to lower food prices. The Consumer Price Index for food was at 8.52% in March.

Apple’s iPhone shipments fall 10% as android rivals rise: What's happening?

Apple Inc. faced a nearly 10% decline in iPhone shipments in Q1, losing ground as global smartphone market rebounded. Samsung Electronics Co. reclaimed top spot, while Transsion and Xiaomi Corp. saw significant growth. Apple struggled in China, shipping 5 million fewer iPhones year-over-year. IDC reports rising average selling prices for premium models. Apple resorted to discounts to boost sales, with some partners in China offering $180 off regular prices.

India biz helps TCS post 9 pc jump in Q4 net profit; company says FY25 to be better

TCS reported a 9% growth in net profit in Q4 FY24, with domestic business strong amid struggles overseas. Annual net profit rose 9%, revenue increased. Workforce declined by 13,000 in a year. North America and Europe saw revenue dips, but domestic business grew. CEO optimistic for FY25. Company focusing on new deals, improving margins. Plans to hire 40,000 freshers, offer pay hike. Deal with BSNL facing some delays.