Adani market losses snowball to $100 billion on stock sale suspended

Adani market losses snowball to 0 billion on stock sale suspended

NEW DELHI, Feb 2 (Reuters) – Shares of Indian group Adani fell on Thursday after market turmoil forced the conglomerate to scrap a crucial $2.5 billion share offering, deepening its market losses to over $100 billion and raising concerns about the potential systemic impact. The withdrawal from the sale of Adani Enterprises (ADEL.NS) shares marked … Read more

India increases spending in latest budget before election

India increases spending in latest budget before election

NEW DELHI, Feb 1 (Reuters) – India’s government on Wednesday unveiled a $550 billion budget for the next fiscal year which starts on April 1, with a record capital spending plan while containing the budget deficit. Prime Minister Narendra Modi’s party, which faces elections in key states this year and a national vote in 2024, … Read more

Exclusive: Bed Bath & Beyond is preparing to file for bankruptcy this week

Exclusive: Bed Bath & Beyond is preparing to file for bankruptcy this week

NEW YORK, Jan 30 (Reuters) – Bed Bath & Beyond Inc (BBBY.O) is preparing to seek bankruptcy protection as early as this week and has lined up liquidators to close additional stores unless a last-minute buyer emerges, four people familiar with the issue said Monday. The timing of any bankruptcy filing was in flux Monday … Read more

US court rejects J&J’s bankruptcy strategy for thousands of talc lawsuits

US court rejects J&J’s bankruptcy strategy for thousands of talc lawsuits

Jan 30 (Reuters) – A U.S. appeals court on Monday dismissed an attempt by Johnson & Johnson (JNJ.N) to offload tens of thousands of lawsuits over its talc products in bankruptcy court. The ruling marked the first major repudiation of an emerging legal strategy that could upend US corporate liability law. J&J is among four … Read more

Asian stocks turn wary as rates rise and earnings loom

Asian stocks turn wary as rates rise and earnings loom

https://tmsnrt.rs/2zpUAr4 The Fed increased by 25 basis points this week, the ECB and the BOE by 50 basis points Tech giants top earnings results China splits shares as holiday travel surges SYDNEY, Jan 30 (Reuters) – Asian stocks turned wary on Monday ahead of a week that is certain to see interest rates rise in … Read more

Sale of Adani shares for $2.5 billion faces crucial day after rout

Sale of Adani shares for .5 billion faces crucial day after rout

NEW DELHI, Jan 29 (Reuters) – Gautam Adani faces a critical day on Monday with his flagship company’s second day of $2.5 billion auction, eclipsed by a $48 billion rout in shares of the Indian billionaire which was triggered by a report from an American short seller. Seven listed companies belonging to the Adani conglomerate, … Read more

Adani hits back at Hindenburg, says he made all the revelations

Adani hits back at Hindenburg, says he made all the revelations

Adani publishes 413-page rebuttal to Hindenburg report US short seller’s report sparked drop in Adani shares Adani says to comply with laws and necessary disclosures CFO Adani confident $2.5 billion share sale will succeed NEW DELHI, Jan 30 (Reuters) – India’s Adani Group issued a detailed response on Sunday to a Hindenburg Research report that … Read more