BENGALURU (Reuters) -Embattled Indian conglomerate Adani Group said it prepaid share-backed financing of 73.74 billion rupees ($901.16 million), as it looks to allay fears over leverage and debt since a U.S. short seller’s critical report sparked a stock rout. Hindenburg Research had in its Jan. 24 report alleged stock manipulation and improper use of tax…
By Hannah Lang and Lisa Pauline Mattackal (Reuters) – For investors living on the digital edge, bitcoin is starting to look a little old-fashioned. Hooked on high growth, some are turning away from the original cryptocurrency – designed as an alternative to regular cash – in favor of its descendants created as native tokens of…
By Gaurav Dogra (Reuters) – Most emerging Asia ex-China equity markets witnessed foreign outflows in February as strong U.S. economic data stirred worries that the Federal Reserve would keep interest rates higher for longer than anticipated. Foreigners sold equities worth a net $2.1 billion in Thai, Indian, the Philippine and Vietnam markets, data from stock…
(Reuters) -California will not do business with Walgreens Boots Alliance Inc, state Governor Gavin Newsom said in a tweet on Monday, days after the pharmacy chain said it would not dispense abortion pills in some Republican-dominated states. The state refuses to do business with Walgreens or “any company that cowers to the extremists and puts…
By Praveen Menon and Scott Murdoch SYDNEY (Reuters) -GQG Partners Inc founder Rajiv Jain will meet clients and investors in Australia this week, the company said in a statement on Tuesday, and will explain its investment into embattled Indian Adani group. GQG Partners bought shares worth $1.87 billion in four Adani group companies, marking the…
By Blake Brittain (Reuters) – Meta Platforms Inc lost a bid on Monday to end a lawsuit in Boston federal court claiming it stole confidential information from artificial-intelligence startup Neural Magic Inc. Meta will have to face a trial over accusations that it took Neural Magic’s “breakthrough” algorithms that enable AI systems to process information…
(Reuters) – Meta Platforms Inc is planning to cut thousands more jobs as soon as this week in its fresh round of layoffs, Bloomberg News reported on Monday, citing people familiar with the matter. Meta did not respond to Reuters request for a comment outside business hours. (Reporting by Maria Ponnezhath in Bengaluru; Editing by…
By Nichola Groom and Richard Valdmanis (Reuters) -U.S. imports of solar panels are finally picking up after months of gridlock stemming from implementation of a new law banning goods made with forced labor, according to two Chinese solar companies. A White House official confirmed the thaw in shipments at an energy conference on Monday, attributing…
HOUSTON (Reuters) – The global natural gas market has been more fundamentally changed for the long term than the oil market by Russia’s invasion of Ukraine, Chevron Corp Chief Executive Mike Wirth said on Monday. The conflict in Ukraine and ensuing Western sanctions upended global oil and gas markets and disrupted supplies from Russia. Europe…
SYDNEY (Reuters) – Bank of America Chief Executive Officer Brian Moynihan said on Tuesday the U.S. economy would reach a technical recession starting in the third quarter. Moynihan told The Financial Review’s Business Summit in Sydney a U.S. recession would not be deep and the bank forecast interest rates would start falling in the second…
