Adani’s crucial share sale 85% subscribed as institutions pumped funds

Adani’s crucial share sale 85% subscribed as institutions pumped funds

MUMBAI, Jan. 31 (Reuters) – Indian billionaire Gautam Adani’s $2.5 billion share sale moved closer to full subscription on Tuesday as investors pumped in cash after a tumultuous week for his group in which the shares were ravaged by a destructive short-seller -report. The secondary share sale of flagship Adani Enterprises (ADEL.NS) was 85% underwritten … Read more

US stops granting export licenses to China’s Huawei – sources

US stops granting export licenses to China’s Huawei – sources

Jan 30 (Reuters) – The Biden administration has stopped approving licenses for US companies to export most items to China’s Huawei, according to three people familiar with the matter. Huawei has faced U.S. export restrictions around items for 5G and other technologies for several years, but U.S. Department of Commerce officials have issued licenses to … Read more

Ford is lowering the prices of the Mustang Mach-E, following Tesla

Ford is lowering the prices of the Mustang Mach-E, following Tesla

Jan 30 (Reuters) – Ford Motor Co (FN) slashed prices of its electric crossover SUV Mustang Mach-E by as much as $5,900 per vehicle on Monday, weeks after global rival Tesla Inc (TSLA.O) lowered prices of its electric vehicles reduced by as much as 20%. Ford shares fell 1.5% at the start of trading. Tesla … Read more

China’s Baidu launches ChatGPT-like bot in March – source

China’s Baidu launches ChatGPT-like bot in March – source

BEIJING, Jan. 30 (Reuters) – Chinese internet search engine Baidu Inc (9888.HK) plans to launch an artificial intelligence (AI) chatbot service in March, similar to OpenAI’s ChatGPT, a person familiar with the matter said to Reuters. The tech company plans to launch the service as a standalone application and gradually merge it with its search … Read more

Adani hits back at Hindenburg saying it did all the revealing

Adani hits back at Hindenburg saying it did all the revealing

Adani publishes 413-page refutation of the Hindenburg Report The US short-seller’s report led to declines in Adani shares Adani says complies with laws, necessary disclosures Adani CFO is confident that the $2.5 billion share sale will succeed NEW DELHI, Jan. 30 (Reuters) – India’s Adani Group on Sunday issued a detailed response to a report … Read more

British regional airline Flybe ceases trading, cancels all flights

British regional airline Flybe ceases trading, cancels all flights

Collapse for the second time in three years 276 employees laid off by administrators About 75,000 customers had future bookings Hurt by delayed aircraft delivery Rivals see increasing demand LONDON, Jan. 28 (Reuters) – British regional airline Flybe on Saturday suspended operations for the second time in three years, canceling all flights and laying off … Read more

Wall Street ends higher, posts weekly gains as Fed meeting looms

Wall Street ends higher, posts weekly gains as Fed meeting looms

PCE: Inflation Cools With Consumer Spending American Express, Visa move higher on strong demand Chevron falls after missing earnings estimates Indexes up: Dow 0.08%, S&P 0.25%, Nasdaq 0.95% NEW YORK, Jan. 27 (Reuters) – Wall Street moved ahead on Friday, marking the end of a rocky week in which economic data and corporate earnings expectations … Read more

EV maker Lucid rises on report Saudi PIF to buy remaining stake

EV maker Lucid rises on report Saudi PIF to buy remaining stake

27 Jan. (Reuters) – Shares of Lucid Group (LCID.O) rose 43% on Friday, a drop in earnings after doubling market speculation that the Saudi Arabian Public Investment Fund (PIF) was looking to buy out the electric vehicle maker. The speculation stemmed from an “uncooked” warning attributed to deals website Betaville, which used the term for … Read more