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Adani Market Loss Snowball to $100 Billion in Shelved Stock Selling

Adani Market Loss Snowball to $100 Billion in Shelved Stock Selling

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NEW DELHI (Reuters) – Shares of India’s Adani Group plunged on Thursday after market turmoil forced the conglomerate to abandon a significant $2.5 billion share offer, deepening its market losses to more than $100 billion and raising concerns about the potential systemic impact. The withdrawal of Al-Adani Company (ADEL.NS) The share sale was a dramatic …

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Wall Street drops but off session lows after Fed rate hike, trading choppy

Wall Street drops but off session lows after Fed rate hike, trading choppy

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Fed raises interest rates, sees ‘continued increases’ Indices down: Dow 0.96%, Standard & Poor’s 0.40%, Nasdaq 0.03% Feb 1 (Reuters) – U.S. stock indexes fell in choppy trade on Wednesday, bouncing back from session lows when the Federal Reserve raised interest rates by a quarter of a percentage point and said it expected “continued increases” …

Wall Street drops but off session lows after Fed rate hike, trading choppy Read More »

Exclusive: Electric Vehicle Maker Rivian Cuts 6% of Jobs Amid Price War - Internal Memo

Exclusive: Electric Vehicle Maker Rivian Cuts 6% of Jobs Amid Price War – Internal Memo

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SAN FRANCISCO, Feb. 1 (Reuters) – Rivian Automotive Company (Revno) It is laying off 6% of its workforce in a bid to cut costs as the electric car maker, already suffering from low cash reserves and a weak economy, prepares for an industry-wide price war. In an email to employees Wednesday announcing the job cuts, …

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India's Adani has been criticized for losing $45 billion in shares, which has clouded a record share sale.

Adani forgoes selling shares worth $2.5 billion in a huge blow to the Indian businessman

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NEW DELHI (Reuters) – Gautam Adani’s parent company canceled the sale of its $2.5 billion shares in a dramatic reversal on Wednesday after criticism of short sellers in the United States wiped billions more from the value of the Indian tycoon’s shares. The withdrawal of Al-Adani Company (ADEL.NS) The share offer is a stunning setback …

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Gautam Adani is no longer the richest person in Asia as shares have deepened to $74 billion

Gautam Adani is no longer the richest person in Asia as shares have deepened to $74 billion

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BENGALURU (Reuters) – India’s Gautam Adani lost the title of Asia’s richest man on Wednesday, as his group’s shares plunged to $74 billion after a short-selling report. A report by Hindenburg Research last week alleged improper use of offshore tax havens while raising concerns about the high debt and valuations of seven Adani-listed companies. And …

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AMD's revenue beat targets, and Wall Street was relieved after Intel's bleak outlook

AMD’s revenue beat targets, and Wall Street was relieved after Intel’s bleak outlook

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Jan 31 (Reuters) – US chip maker Advanced Micro Devices (AMD.O) On Tuesday, it reported revenue that beat Wall Street targets and said it expects business to pick up in the second half, spurring investors who saw the company profit from rival Intel. Shares rose about 1.5% in after-hours trading. Although AMD’s expectations were lower …

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US seeks driver assistance documents from Tesla; The company raises its capital expenditure forecast

US seeks driver assistance documents from Tesla; The company raises its capital expenditure forecast

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WASHINGTON, Jan. 31 (Reuters) – Tesla Inc (TSLA.O) It revealed on Tuesday that it had received requests from the US Department of Justice for documents related to its fully autonomous driver-assistance and autopilot systems as regulatory scrutiny intensified. Reuters reported in October Tesla is under criminal investigation On claims that the company’s electric cars can …

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The United States stops granting export licenses to the Chinese company Huawei - sources

The United States stops granting export licenses to the Chinese company Huawei – sources

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Jan. 30 (Reuters) – The Biden administration has stopped approving licenses for U.S. companies to export most items to China’s Huawei, according to three people familiar with the matter. Huawei has faced US export restrictions on 5G items and other technologies for several years, but officials in the US Commerce Department have granted licenses to …

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The sale of Adani's $2.5 billion shares faces a critical day after defeat

85% of Adani’s significant share sale is underwritten while institutions are injecting cash

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MUMBAI (Reuters) – Indian billionaire Gautam Adani’s $2.5 billion sale came close to being fully subscribed on Tuesday as investors poured cash after a turbulent week for his group, in which its shares plunged due to a scathing short-selling report. Sell ​​secondary stock to Adani Enterprises (ADEL.NS) It was 85% subscribed on Tuesday, including the …

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Unilever has appointed former Heinz exec Schumacher as chief executive officer

Unilever has appointed former Heinz exec Schumacher as chief executive officer

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To become CEO July 1 The activist contributor says she met Schumacher when he was at Heinz First outside CEO since Paul Pullman was appointed in 2008 Unilever shares are outperforming the FTSE 100 LONDON (Reuters) – Unilever appointed Hein Schumacher on Monday to replace Alan Job as chief executive from July, a move welcomed …

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Adani replied to the Hindenburg, saying that he had submitted all that had been revealed

Adani replied to the Hindenburg, saying that he had submitted all that had been revealed

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Adani issued a 413-page rebuttal to the Hindenburg Report The short selling report in the US triggered a drop in Adani shares Al-Adani says he adheres to the laws, and the necessary disclosures Adani CFO is confident of the success of the $2.5 billion share sale NEW DELHI (Reuters) – India’s Adani Group on Sunday …

Adani replied to the Hindenburg, saying that he had submitted all that had been revealed Read More »

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