Business

Yes Bank founder Rana Kapoor was arrested by financial crime investigators over allegations of money laundering, criminal conspiracy, and cheating. The arrest follows the Indian Central Bank's intervention in the troubled financial institution, with Kapoor denying all charges and claiming his willingness to cooperate.

Toyota is recalling over 3 million vehicles globally, including 1.8 million in the US, due to fuel pump problems that may cause engine stalling and increase crash risks. Affected vehicles include cars, minivans, SUVs, and trucks across Toyota and Lexus models.

The International Air Transport Association predicts a devastating $113 billion revenue hit for global airlines due to coronavirus spread, dramatically increasing their previous estimate from $30 billion. IATA's CEO describes the impact as "almost without precedent" in just two months.

Hong Kong airline Cathay Pacific Airways was fined nearly $1 million for a significant data breach that compromised personal details of 9.4 million passengers. The security lapse exposed sensitive information including names, passport details, and travel history after a password-guessing attack in 2018.

Japanese drugmaker Takeda Pharmaceutical is developing a promising coronavirus treatment using plasma-derived therapy. Researchers are seeking blood samples from recovered or vaccinated individuals to advance their potential cure for COVID-19, aiming to provide new hope in the global fight against the pandemic.

Swiss food giant Nestle plans to plant 3 million trees in Mexico and Brazil by next year, partnering with environmental nonprofits to restore ecosystems. This initiative is the first phase of their strategy to reduce carbon footprint, with the initial million trees expected to offset emissions from a new coffee-processing plant in Veracruz.

The coronavirus outbreak is causing significant disruptions in global medicine production, with China's factory closures impacting active pharmaceutical ingredient supplies. India, a major generic drug provider, faces potential shortages as 70% of its chemical ingredients come from China.

A former Microsoft software engineer has been found guilty of extensive fraud, stealing $10 million worth of digital currency while working on the company's online retail sales platform. Convicted of 18 federal felonies, including wire fraud and money laundering, Kvashuk faces up to 20 years in federal prison for his elaborate scheme.

As coronavirus containment measures force millions indoors, mobile game downloads have dramatically increased worldwide. China experienced an 80% weekly rise in game downloads, with Tencent reporting significant user growth in popular titles like Mahjong and Game For Peace.

Macau, the world's largest gambling hub, experienced a devastating 88% decline in casino revenues during February 2020. The 15-day mandatory business closure to prevent COVID-19 spread caused the most significant monthly downturn in the region's gaming industry history, marking a critical economic challenge for the gambling destination.