Hindenburg bet against Indian Adani intrigues rival US short sellers

Hindenburg bet against Indian Adani intrigues rival US short sellers

Feb 1 (Reuters) – When Hindenburg Research disclosed a short position in Adani Group last week, some U.S. investors said they were intrigued by the actual mechanics of its trading because Indian securities rules make it difficult for foreigners to bet against companies there. Hindenburg’s bet has been lucrative so far. His allegations, which the … Read more

Adani drops $2.5bn share sale in blow to Indian tycoon

Adani drops .5bn share sale in blow to Indian tycoon

NEW DELHI, Feb 1 (Reuters) – Gautam Adani’s flagship company on Wednesday called off its $2.5 billion share sale in a dramatic reversal as the rout sparked by criticism from a U.S. short seller erased billions more of the value of the Indian tycoon’s shares. The withdrawal of the Adani Enterprises (ADEL.NS) stock offering marks … 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

Gautam Adani loses Asia’s richest crown as stock rout worsens to $84bn

Gautam Adani loses Asia’s richest crown as stock rout worsens to bn

BENGALURU, Feb 1 (Reuters) – Indian tycoon Gautam Adani lost his title as Asia’s richest person on Wednesday as the rout of his conglomerate’s biggest companies worsened to $84 billion following a a report on short sellers. A Hindenburg Research report last week alleged the group’s misuse of offshore tax havens and stock manipulation, as … Read more

US seeks Tesla driver assistance documents; the company increases its investment forecast

US seeks Tesla driver assistance documents;  the company increases its investment forecast

WASHINGTON, Jan 31 (Reuters) – Tesla Inc (TSLA.O) disclosed on Tuesday that the U.S. Justice Department has requested documents related to its fully autonomous driving assistance (FSD) and Autopilot systems as regulatory scrutiny is intensifying. The automaker said in a filing that it “has received requests from the DOJ for documents related to Tesla’s Autopilot … Read more

Crucial sale of Adani shares 85% subscribed as institutions inject funds

Crucial sale of Adani shares 85% subscribed as institutions inject funds

MUMBAI, Jan 31 (Reuters) – Indian billionaire Gautam Adani’s $2.5 billion share sale edged closer to full subscription on Tuesday as investors pumped in after a tumultuous week for his group in during which its shares were ravaged by a scathing report on short sellers. The secondary sale of shares in flagship Adani Enterprises (ADEL.NS) … 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

Unilever appoints former Heinz Schumacher manager as CEO

Unilever appoints former Heinz Schumacher manager as CEO

Become CEO on July 1 Activist shareholder says he met Schumacher at Heinz First foreign CEO since the appointment of Paul Polman in 2008 Unilever shares top the FTSE 100 LONDON, Jan 30 (Reuters) – Unilever on Monday appointed Hein Schumacher to replace Alan Jope as chief executive from July, a move hailed by investors … Read more

New Zealand counts cost of Auckland floods, more rain forecast

New Zealand counts cost of Auckland floods, more rain forecast

WELLINGTON, Jan 30 (Reuters) – Flood-ravaged Auckland is expected to receive further heavy rain in the coming days, authorities in New Zealand’s largest city said on Monday, as insurers calculated the costs of the flood. which seems to be the most expensive weather in the country. event ever. Four people have lost their lives in … Read more