Adani loses Asia’s richest crown as inventory rout deepens to $84 billion

BENGALURU, Feb 1 (Reuters) – Shares in Indian tycoon Gautam Adani’s conglomerate plunged once more on Wednesday as a rout in his firms deepened to $84 billion within the wake of a U.S. short-seller report, with the billionaire additionally dropping his title as Asia’s richest individual. Wednesday’s inventory losses noticed Adani slip to fifteenth on … Read more

U.S. seeks Tesla driver-assist paperwork; firm hikes capex forecast

WASHINGTON, Jan 31 (Reuters) – Tesla Inc (TSLA.O) disclosed on Tuesday the U.S. Justice Division has sought paperwork associated to its Full Self-Driving (FSD) and Autopilot driver-assistance techniques as regulatory scrutiny intensifies. The automaker mentioned in a submitting it “has acquired requests from the DOJ for paperwork associated to Tesla‚Äôs Autopilot and FSD options.” Reuters … Read more

Adani’s essential share sale 85% subscribed as establishments pump in funds

MUMBAI, Jan 31 (Reuters) – Indian billionaire Gautam Adani’s $2.5 billion share sale inched nearer to full subscription on Tuesday as buyers pumped in funds after a tumultuous week for his group through which its shares have been pummeled by a scathing short-seller report. The secondary share sale of flagship Adani Enterprises (ADEL.NS) was subscribed … Read more

Adani’s $2.5 billion share sale faces essential day after rout

NEW DELHI, Jan 29 (Reuters) – Gautam Adani faces a vital day on Monday together with his flagship firm’s $2.5 billion share sale’s second day of bidding overshadowed by a $48 billion rout within the Indian billionaire’s shares which was sparked by a U.S. quick vendor’s report. Seven listed firms belonging to the Adani conglomerate, … Read more

EV maker Lucid surges on report Saudi PIF to purchase remaining stake

Jan 27 (Reuters) – Lucid Group’s (LCID.O) shares surged 43% on Friday, paring positive factors after doubling on market hypothesis that Saudi Arabia’s Public Funding Fund (PIF) needed to purchase out the electrical automobile maker. The hypothesis originated from an “raw” alert attributed to offers web site Betaville, utilizing its time period for market gossip. … Read more

India’s Adani begins document share sale as brief vendor triggers $44 billion rout

MUMBAI, Jan 27 (Reuters) – Shares of India’s Adani Enterprises (ADEL.NS) sank 15% on Friday as a scathing report by a U.S. brief vendor triggered a rout within the conglomerate’s listed companies, casting doubts on how buyers will reply to the corporate’s document $2.45 billion secondary sale. Seven listed firms of the Adani conglomerate – … Read more

Musk outlines Tesla’s recession playbook: claw again prices

Jan 26 (Reuters) – Elon Musk has a playbook for Tesla (TSLA.O) headed into what he believes shall be a “severe” recession: reduce prices on every part from components to logistics, whereas protecting the strain on rivals with discounted sticker costs. In a convention name to debate Tesla’s fourth-quarter outcomes, Musk and different executives outlined … Read more

Musk bullish on Tesla gross sales as value cuts enhance demand

Jan 25 (Reuters) – Tesla Inc’s (TSLA.O) aggressive value cuts have ignited demand for its electrical automobiles, Chief Govt Elon Musk mentioned on Wednesday, enjoying down considerations {that a} weak economic system would throttle patrons’ curiosity. The corporate barely beat Wall Road targets for fourth-quarter income and revenue earlier on Wednesday regardless of a pointy … Read more

Hindenburg shorts India’s Adani Group, flags debt and accounting considerations

BENGALURU, Jan 25 (Reuters) – Hindenburg Analysis mentioned on Wednesday it held quick positions in India’s Adani Group, accusing the conglomerate of improper intensive use of entities arrange in offshore tax havens and expressing concern about excessive debt ranges. The report, which comes days forward of a $2.5 billion share providing by flagship agency Adani … Read more

Spotify to trim 6% of workforce in newest tech layoffs

Jan 23 (Reuters) – Spotify Know-how SA (SPOT.N) stated on Monday it plans to chop 6% of its workforce and would take a associated cost of as much as practically $50 million, including to the large layoffs within the expertise sector in preparation for a attainable recession. The tech trade is going through a requirement … Read more