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The Latest Breaking News from Gautam Adani

Two Wall Street Powerhouses Hit by the Fall of Billionaire Adani's Empire

The two major U.S. institutional investors have exposure to the Adani Group conglomerate.

The Street

The Weekly Wrap for Saturday, 4 February 2023

Asia's richest man has watched a quarter of his fortune evaporate in a week. An industrial empire is teetering. And it's all because of one teeny-weeny little memo.

inkl Originals

US jobs surge, tech concerns whiplash stocks and send dollar higher

New York (AFP) - A surge in hiring in the United States renewed worries about aggressive interest rate hikes on Friday, bolstering the dollar and whiplashing Wall Street stocks.

AFP

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Adani debacle threatens fallout on India's wider economy

This week, a major upheaval hit one of India’s top business empires. Adani Group has operations in everything from coal mining to telecoms. Its seven main units were recently worth an estimated $220 billion. But a blistering report by an American investor research firm accusing the conglomerate of massive fraud…

France 24

US jobs surge, tech concerns send stocks lower, dollar higher

London (AFP) - A surge in hiring in the United States renewed worries about aggressive interest rate hikes, bolstering the dollar and sending stocks lower.

AFP

Stocks drop on tech concerns, before jobs data in US

London (AFP) - European and Asian stock markets mostly dropped Friday, hit by concerns for the US tech sector after poorly-received earnings.

AFP

The Adani Group lost $118 billion in value in 10 days. Here’s how it happened in charts

Adani Group shares are in freefall following the release of a report from Hindenburg Research alleging stock manipulation and fraud.

Fortune

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India's Adani denies rise due to Modi as shares fall again

Mumbai (AFP) - Beleaguered Indian tycoon Gautam Adani denied Friday that his rise to become Asia's richest man -- a title he has lost in a phenomenal stock rout -- was due to Prime Minister Narendra Modi, as shares in his conglomerate fell again.

AFP

Budget Session: Both Houses Of Parliament Adjourned Till 6 February

Both Lok Sabha and Rajya Sabha have been adjourned till 11 am 6 February amid a ruckus over the Adani row. Read further on Dynamite News:

Dynamite News

Indian tycoon Adani hit by more losses, calls for probe

Losses for the troubled Adani Group, India’s second-largest conglomerate, have deepened as shares in its flagship company tumbled another 25%

The Independent UK

Adani crisis: Indian group has value cut in half after stock market rout

Traders sent shares down more than 25% on Friday despite attempts to restore investor confidence following fraud claims

The Guardian - AU

Adani turmoil a key test for Modi's India Inc

Mumbai (AFP) - The market rout suffered by Indian tycoon Gautam Adani is the latest corporate scandal to plague one of the world's largest economies despite Prime Minister Narendra Modi's efforts to root out corruption.

AFP

Markets mostly rise but tech earnings dent recovery optimism

Hong Kong (AFP) - Asian equities mostly rose Friday following gains on Wall Street but optimism over a possible pause in Federal Reserve interest rate hikes was being weighed against worries about the global economy after a year of monetary tightening.

AFP

India's Adani denies rise due to Modi as shares slump again

AFP

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AFP

Adani Enterprises shares suspended as price slumps again

Mumbai (AFP) - Shares in the flagship firm of beleaguered Indian tycoon Gautam Adani were repeatedly suspended on Friday as a rout triggered by allegations of accounting fraud deepened.

Al Jazeera

India’s Adani’s losses swell above $100bn

India’s central bank is examining the exposure of banks to the group as its various firms continued to tank.

The Conversation

Short selling Adani: how an obscure US firm profited from triggering the Indian giant's price plunge

A few weeks ago, Gautam Adani was indisputably India’s richest man.

The Guardian - UK

Jo Johnson resigns as director of firm linked to Adani allegations

Former UK PM’s brother quits board of Elara Capital days after it was accused of using funds to manipulate share prices

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Fortune

Boris Johnson's younger brother just resigned from an Adani-linked investment bank after a $100 billion stock rout amid claims of a shady offshore account

"I have consistently received assurances from Elara Capital that it is compliant with its legal obligations and in good standing with regulatory bodies."

The Street

Billionaire Gautam Adani Breaks Silence to Stop Collapse of His Empire

The Indian tycoon speaks out for the first time since his group faced accusations of fraud from New York short-seller Hindenburg Research.

AFP

European stocks climb after rate decisions

London (AFP) - European stock markets rose on Thursday after the European Central Bank and Bank of England raised interest rates, joining the US Federal Reserve in moving once again to cool sky-high inflation.

WEKU

How Asia's ex-richest man lost nearly $50 billion in just over a week

Indian businessman Gautam Adani was a few billion dollars shy of Elon Musk. But he tumbled down the billionaires' list after a U.S. firm accused the Adani Group of pulling off an epic con.

The Independent UK

Share debacle a rare setback for Indian tycoon Adani

India's Gautam Adani was Asia's richest man when the U.S. short-selling firm Hindenburg Research put out a report last week alleging his businesses have engaged in fraud and stock price manipulation

Al Jazeera

India opposition MPs seek Adani probe as group losses top $100bn

Opposition MPs call for parliamentary investigation after US-based short seller accuses Adani Group of fraud.

AFP

European stocks jump before rate decisions

London (AFP) - European stock markets rallied Thursday before interest rate decisions from the European Central Bank and Bank of England and following the US Federal Reserve's latest hike aimed at cooling sky-high inflation.

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