BLR

Adani’s market losses top $100bn as discontinued stock sale spooks investors

Leave a Comment / Business / By

Market rout worsens in shares of Indian tycoon Adani Adani Enterprises loses $26 billion in value since report Falls after Adani pulls stock sale, investors fear Analysts say signals crisis of confidence in Indian market NEW DELHI/MUMBAI, Feb 2 (Reuters) – Adani Group’s market losses hit more than $100 billion on Thursday, raising concerns about …

Adani’s market losses top $100bn as discontinued stock sale spooks investors Read More »

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

Leave a Comment / Business / By

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 …

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

AMD revenue beats targets, Wall St relieved after Intel’s bleak outlook

Leave a Comment / Business / By

Jan 31 (Reuters) – U.S. chipmaker Advanced Micro Devices Inc (AMD.O) reported revenue above Wall Street targets on Tuesday and said it expected business to improve in the second half, giving excitement investors who saw the company win over rival Intel. The shares rose about 1.5% after hours trading. Although AMD’s predictions lagged behind expectations, …

AMD revenue beats targets, Wall St relieved after Intel’s bleak outlook Read More »

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

Leave a Comment / Business / By

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) …

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

US stops granting export licenses to Chinese Huawei – sources

Leave a Comment / Business / By

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

US stops granting export licenses to Chinese Huawei – sources Read More »

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

Leave a Comment / Business / By

Adani publishes 413-page rebuttal to Hindenburg report US short seller’s report sparked drop in Adani shares Adani says he follows 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 sparked …

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

British regional airline Flybe ceases operations and cancels all flights

Leave a Comment / Business / By

Collapses for the second time in three years 276 workers fired by administrators About 75,000 customers had future bookings Hurt by the delay in the delivery of planes Rivals see rebound in demand LONDON, Jan 28 (Reuters) – British regional airline Flybe ceased operations on Saturday for the second time in three years, with all …

British regional airline Flybe ceases operations and cancels all flights Read More »

Electric vehicle maker Lucid rushes Saudi PIF report to buy remaining stake

Leave a Comment / Business / By

Jan 27 (Reuters) – Shares of Lucid Group (LCID.O) jumped 43% on Friday, trimming gains after doubling down on market speculation that Saudi Arabia’s Public Investment Fund (PIF) wanted buy the electric vehicle manufacturer. The speculation stemmed from an “uncooked” alert attributed to deals website Betaville, using its term for market gossip. Lucid was the …

Electric vehicle maker Lucid rushes Saudi PIF report to buy remaining stake Read More »

Bill Ackman Says Hindenburg’s Report on Adani Group “Very Credible”

Leave a Comment / Business / By

Jan 26 (Reuters) – Billionaire investor William Ackman said in a tweet on Thursday that he found short seller Hindenburg Research’s report on Adani Group “very credible and extremely well researched”. Shares of seven listed Adani Group companies lost $10.73 billion in market capitalization in India on Wednesday after Hindenburg released the report, which accuses …

Bill Ackman Says Hindenburg’s Report on Adani Group “Very Credible” Read More »