India’s Adani Begins Record Share Selling as Short Seller Causes $44 Billion Loss

India’s Adani Begins Record Share Selling as Short Seller Causes  Billion Loss

MUMBAI, Jan. 27 (Reuters) – Shares of India’s Adani Enterprises (ADEL.NS) fell 15% on Friday as a damning report from a US short seller sparked defeat among the conglomerate’s listed companies, casting doubt on how investors will responding to the company’s record $2.45 billion in secondary sales. Seven publicly traded companies of the Adani conglomerate … Read more

Musk outlines Tesla’s recession playbook: Chargeback costs

Musk outlines Tesla’s recession playbook: Chargeback costs

26 Jan. (Reuters) – Elon Musk has a playbook for Tesla (TSLA.O) heading into what he says will be a “serious” recession: cutting costs on everything from parts to logistics while keeping pressure on competitors with reduced sticker prices. In a conference call to discuss Tesla’s fourth-quarter results, Musk and other executives outlined plans to … Read more

Musk says Tesla’s price cuts drove demand, 2023 sales could reach 2 million vehicles

Musk says Tesla’s price cuts drove demand, 2023 sales could reach 2 million vehicles

25 Jan. (Reuters) – Tesla Inc’s (TSLA.O) aggressive price cuts have fueled demand for its electric vehicles, Chief Executive Elon Musk said Wednesday, allaying concerns that a weak economy would curb buyer interest. The company slightly beat Wall Street’s targets for fourth-quarter revenue and profit earlier on Wednesday, despite a sharp decline in vehicle profit … Read more

S&P 500 closes slightly red as weak business outlook fuels recession fears

S&P 500 closes slightly red as weak business outlook fuels recession fears

AT&T profits on subscriber additions General Dynamics drops after weak outlook Tesla, IBM publish results Indices: Dow up 0.03%, S&P 500 down 0.02%, Nasdaq down 0.18% NEW YORK, Jan. 25 (Reuters) – The S&P 500 ended nominally lower on Wednesday as a streak of corporate earnings ranged from dismal to dismal, reigniting concerns about the … Read more

Rupert Murdoch drops proposal to combine Fox, News Corp and Move sales

Rupert Murdoch drops proposal to combine Fox, News Corp and Move sales

24 Jan. (Reuters) – Rupert Murdoch on Tuesday withdrew a proposal to reunite News Corp (NWSA.O) and Fox Corp as the company also explores a sale of Move Inc, which operates the website Realtor.com, to CoStar Group, according to reports a legal request and resources familiar with the process. Three sources familiar with the matter … Read more

Hindenburg says he has short positions in India’s Adani

Hindenburg says he has short positions in India’s Adani

BENGALURU, Jan. 25 (Reuters) – Hindenburg Research said on Wednesday it has short positions in Adani Group companies through US-traded bonds and non-Indian-traded derivatives, causing shares of companies in the Indian conglomerate to slide. The short-seller said seven listed Adani companies are down 85% fundamentally due to skyrocketing valuations and that “major Adani listed companies … Read more

China offers Sri Lanka debt moratorium, IMF aid still questionable

China offers Sri Lanka debt moratorium, IMF aid still questionable

China offers debt service relief in 2022, 2023 Sri Lankan sources are unclear whether a Chinese letter will be enough for the IMF Broad agreement between IMF and China on Zambia could provide clues NEW DELHI/COLOMBO, Jan. 24 (Reuters) – The Export-Import Bank of China has offered Sri Lanka a two-year moratorium on its debt, … Read more

Microsoft is going to invest more in OpenAI as the tech race progresses

Microsoft is going to invest more in OpenAI as the tech race progresses

23 Jan. (Reuters) – Microsoft Corp. (MSFT.O) announced a further multi-billion dollar investment in OpenAI on Monday, cementing ties with the startup behind chatbot sensation ChatGPT and paving the way for more competition with rival Alphabet Inc’s (GOOGL) .o) Google. Microsoft recently touted a revolution in artificial intelligence (AI), building on a bet it made … Read more

Wall Street Rises, Driven by Technical Rebound

Wall Street Rises, Driven by Technical Rebound

Baker Hughes falls on missing fourth quarter earnings estimates Activist investor Elliott Management takes a stake in Salesforce Chips on track for biggest daily gain since Nov Indexes up: Dow 0.98%, S&P 1.41%, Nasdaq 2.09%, NEW YORK, Jan. 23 (Reuters) – Wall Street rose Monday, led higher by technology stocks as investors began a week … Read more

New suppliers are racing to plug into the electric car market

New suppliers are racing to plug into the electric car market

WOKING, England, Jan. 23 (Reuters) – The global auto industry has committed $1.2 trillion to the development of electric vehicles (EVs), presenting a golden opportunity for new suppliers to win contracts supplying everything from battery packs to motors and inverters. Startups specializing in batteries and coatings to protect EV parts, and suppliers traditionally focused on … Read more