MUMBAI (Reuters) -India’s market regulator moved to calm investor concerns on Saturday, saying that its financial markets remain stable and continue to function in a transparent and efficient manner, despite recent dramatic stock falls in Adani Group companies. Shares in Adani Group firms, controlled by billionaire tycoon Gautam Adani, have dropped by $100 billion, or…
By Uditha Jayasinghe COLOMBO (Reuters) -Sri Lanka is completing the pre-requisites to unlock a $2.9 billion bailout from the International Monetary Fund (IMF) and expects rapid approval from the global lender, President Ranil Wickremesinghe said on Saturday. “We are successfully completing the difficult stage required to get support from the International Monetary Fund. We expect…
(Reuters) – Nestle will have to raise prices of its food products further this year to offset higher production costs that it has yet to fully pass on to consumers, Chief Executive Mark Schneider told a German newspaper. The increases will not be as steep as they were in 2022, but “we have some catching…
(Reuters) – Adani Enterprises Ltd has shelved a plan to raise as much as 10 billion Indian rupees ($121.65 million), Bloomberg News reported on Saturday. ($1 = 82.2060 Indian rupees) (Reporting by Jaiveer Singh Shekhawat in Bengaluru, Editing by Alexandra Hudson)
(Reuters) – Tesla Inc raised prices in the United States of its best-selling vehicle, the Model Y, by $1,000 after the government raised the ceiling on the price of crossover electric vehicles eligible for tax credits. Tesla increased the price of the Model Y Long Range to $54,990, and the Model Y Performance to $57,990, an…
WASHINGTON (Reuters) -A judge on Friday released a ruling denying the Federal Trade Commission’s request to stop Meta Platforms Inc from buying virtual reality content maker Within Unlimited, rejecting the regulator’s concerns the deal would reduce competition in a new market. A December trial to decide if Meta could go forward with the relatively small…
By Raphael Satter WASHINGTON (Reuters) -The hackers who claimed responsibility for a disruptive breach at financial data firm ION say a ransom has been paid, although they declined to say how much it was or offer any evidence that the money had been handed over. ION Group declined to comment on the statement. Lockbit communicated…
By Jody Godoy and Jonathan Stempel (Reuters) – Elon Musk may become even more emboldened in his Twitter use after a jury cleared the billionaire Tesla Inc chief executive over his missive that he had “funding secured” to take his electric car company private. A San Francisco jury took just two hours to unanimously find…
By Svea Herbst-Bayliss NEW YORK (Reuters) – Activist investment firm Starboard Value LP has amassed a sizable stake in Rogers Corp and is seeking seats on the electronics materials company’s board in its push for changes, people familiar with the matter said on Friday. The board challenge comes after chemical company DuPont in November walked…
By Jody Godoy and Hyunjoo Jin SAN FRANCISCO (Reuters) -A U.S. jury on Friday found Tesla Inc CEO Elon Musk and his company were not liable for misleading investors when Musk tweeted in 2018 that he had “funding secured” to take the electric car company private. Plaintiffs had claimed billions in damages and the decision…
