ASXPAC

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

Jan 27 (Reuters) – Lucid Group’s (LCID.O) shares surged 43% on Friday, paring gains after doubling on market speculation that Saudi Arabia’s Public Investment Fund (PIF) wanted to buy out the electric vehicle maker. The speculation originated from an “uncooked” alert attributed to deals website Betaville, using its term for market gossip. Lucid was the …

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India’s Adani begins record share sale as short seller triggers $44 billion route

MUMBAI, Jan 27 (Reuters) – Shares of India’s Adani Enterprises (ADEL.NS) sank 15% on Friday as a scathing report by a US short seller triggered a route in the conglomerate’s listed firms, casting doubts on how investors will respond to the company’s record $2.45 billion secondary sale. Seven listed companies of the Adani conglomerate – …

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Bill Ackman says Hindenburg’s Adani report ‘highly credible’

Jan 27 (Reuters) – Billionaire US investor Bill Ackman said on Thursday that he found short-seller Hindenburg Research’s report on India’s Adani Group “highly credible and extremely well researched.” Shares in seven listed group companies of Adani lost $10.73 billion in market capitalization in India on Wednesday after the US short-seller released the report, which …

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India’s Adani Group says evaluating action against Hindenburg Research

BENGALURU, Jan 26 (Reuters) – Adani Group said on Thursday it is evaluating “remedial and punitive action” under US and Indian laws against short-seller Hindenburg Research, which in a report accused the conglomerate of improper use of offshore tax havens. Shares in seven listed group companies of Adani lost $10.73 billion in market capitalization in …

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Explainer: Who is behind Hindenburg, the company that is shorting Adani?

NEW YORK, Jan 25 (Reuters) – Short-seller Hindenburg Research disclosed on Wednesday short positions in India’s Adani Group, citing potential stock manipulation and accounting fraud in a report. The allegations sent bonds and shares in the conglomerate’s companies down. Hindenburg has a track-record of finding corporate wrongdoings and placing bets against the companies. WHAT IS …

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Musk says Tesla price cuts triggered demand, 2023 sales could hit 2 mln vehicles

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

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Microsoft cloud outage hits users around the world

Outage impacts Microsoft cloud platform Azure for hours Multiple Microsoft services including Teams and Outlook hit Microsoft says most customers now have service restored shares down 3.2% Jan 25 (Reuters) – Microsoft Corp (MSFT.O) said on Wednesday it had recovered all of its cloud services after a networking outage took down its cloud platform Azure …

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Hindenburg says he holds short positions in India’s Adani

BENGALURU, Jan 25 (Reuters) – Hindenburg Research said on Wednesday it holds short positions in Adani Group companies through US-traded bonds and non-Indian-traded derivative instruments, sending shares of companies in the Indian conglomerate sliding. The short-seller said seven Adani listed companies have an 85% downside on a fundamental basis due to sky-high valuations and that …

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Exclusive: Binance moved $346 mln for seized crypto exchange Bitzlato, data show

LONDON, Jan 24 (Reuters) – Crypto giant Binance processed almost $346 million in bitcoin for the Bitzlato digital currency exchange, whose founder was arrested by US authorities last week for allegedly running a “money laundering engine,” blockchain data seen by Reuters show. The Justice Department on Jan. 18 said it charged Bitzlato’s co-founder and majority …

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Lab-grown meat moves closer to American dinner plates

WASHINGTON, Jan 23 (Reuters) – Once the stuff of science fiction, lab-grown meat could become reality in some restaurants in the United States as early as this year. Executives at cultivated meat companies are optimistic that meat grown in massive steel vats could be on the menu within months after one company won the go-ahead …

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