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

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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

Intel slashes worker, exec pay amid PC market downturn

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Jan 31 (Reuters) – Intel Corp (INTC.O) stated on Tuesday that it had made broad cuts to worker and govt pay, every week after the corporate issued a lower-than-expected gross sales forecast pushed by a lack of market share to rivals and a PC market downturn. The reductions will vary from 5% of base pay … Read more

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

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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

UK PM Sunak sacks celebration chairman Zahawi over tax affairs

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Zahawi discovered to not have been open about tax probe Impartial adviser finds severe breaches of code Investigation into Deputy PM ongoing Scandal damages PM Sunak’s tried reset LONDON, Jan 29 (Reuters) – British Prime Minister Rishi Sunak sacked Conservative Social gathering chair Nadhim Zahawi on Sunday after an investigation discovered he dedicated a severe … Read more

FTX founder Bankman-Fried objects to tighter bail, says prosecutors ‘sandbagged’ him

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NEW YORK, Jan 28 (Reuters) – Legal professionals for Sam Bankman-Fried on Saturday urged a U.S. choose to not ban the indicted FTX cryptocurrency govt from speaking with former colleagues as a part of his bail, saying prosecutors “sandbagged” the method to place their shopper within the “worst potential mild.” The attorneys have been responding … Read more

Factbox: FACTBOX Georgia on his thoughts: Donald Trump troubled by extra authorized woes

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Jan 25 (Reuters) – Donald Trump might be taught quickly whether or not he or any associates shall be charged or cleared of wrongdoing in a Georgia probe into his efforts to overturn his 2020 election defeat, considered one of a sequence of authorized threats looming over the Republican former U.S. president: GEORGIA ELECTION TAMPERING … Read more

Explainer: The Beirut port blast: Why has there been no accountability?

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BEIRUT, Jan 25 (Reuters) – Lebanon’s prime public prosecutor on Wednesday charged the decide investigating the 2020 Beirut port explosion that killed a minimum of 220 individuals, stymieing his effort to carry members of the ruling elite accountable. Public prosecutor Ghassan Oweidat, who rejected Decide Tarek Bitar’s determination to renew the inquiry, additionally ordered the … Read more

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

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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

Feds seized almost $700 million from FTX founder Bankman-Fried

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Jan 20 (Reuters) – Federal prosecutors have seized almost $700 million in belongings from FTX founder Sam Bankman-Fried in January, largely within the type of Robinhood inventory, based on a Friday courtroom submitting. Bankman-Fried, who has been accused of stealing billions of {dollars} from FTX clients to pay money owed incurred by his crypto-focused hedge … Read more

Tesla video selling self-driving was staged, engineer testifies

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Jan 17 (Reuters) – A 2016 video that Tesla (TSLA.O) used to advertise its self-driving expertise was staged to indicate capabilities like stopping at a crimson gentle and accelerating at a inexperienced gentle that the system didn’t have, in accordance with testimony by a senior engineer. The video, which stays archived on Tesla’s web site, … Read more