ASXPAC

Adani market losses snowball to $100 bln on sheltered share sale

NEW DELHI, Feb 2 (Reuters) – India’s Adani group shares sank on Thursday after market turmoil forced the conglomerate to ax a crucial $2.5 billion stock offer, deepening its market losses to more than $100 billion and sparking worries about the potential systemic impact. The withdrawal of Adani Enterprises’ (ADEL.NS) share sale marked a dramatic …

Adani market losses snowball to $100 bln on sheltered share sale Read More »

Honda to start producing new hydrogen fuel cell system co-developed with GM

TOKYO, Feb 2 (Reuters) – Japan’s Honda Motor Co (7267.T) said it will start producing a new hydrogen fuel cell system jointly developed with General Motors Co (GM.N) this year and gradually step up sales this decade, in a bid to expand its hydrogen business. Honda will target annual sales of around 2,000 units of …

Honda to start producing new hydrogen fuel cell system co-developed with GM Read More »

Airbus and Qatar Airways settle bitter A350 jet row

PARIS, Feb 1 (Reuters) – Airbus (AIR.PA) and Qatar Airways have settled a dispute over grounded A350 jets, the companies said on Wednesday, warning a potentially damaging UK court trial after a blistering 18-month feud that tore the lid off the global jet market. The “amicable and mutually agreeable settlement” ends a $2 billion row …

Airbus and Qatar Airways settle bitter A350 jet row Read More »

Hindenburg bets against India’s Adani puzzles rival US short sellers

Feb 1 (Reuters) – When Hindenburg Research revealed a short position in Adani Group last week, some US investors said they were intrigued about the actual mechanics of its trade, because Indian securities rules make it hard for foreigners bet against companies there. Hindenburg’s bet has been lucrative so far. Its allegations, which the Indian …

Hindenburg bets against India’s Adani puzzles rival US short sellers Read More »

Adani drops $2.5 billion share sale in big blow to Indian tycoon

NEW DELHI, Feb 1 (Reuters) – Gautam Adani’s flagship firm called off its $2.5 billion share sale in a dramatic reversal on Wednesday as a rout sparked by a US short-seller’s criticisms wiped billions more off the value of the Indian tycoon’s stocks. The withdrawal of the Adani Enterprises (ADEL.NS) share offering marks a stunning …

Adani drops $2.5 billion share sale in big blow to Indian tycoon Read More »

Breakingviews: Gautam Adani’s next hurdles may be harder to clear

HONG KONG, Feb 1 (Reuters Breakingviews) – It helps to have friendly investors and rich families on hand when finalizing a tricky share sale. These groups dragged Gautam Adani’s $2.4 billion capital call across the finish line on Tuesday, despite a selloff triggered by Hindenburg Research’s short attack on the eponymous infrastructure conglomerate. The feat …

Breakingviews: Gautam Adani’s next hurdles may be harder to clear Read More »

Gautam Adani no longer Asia’s richest person as stock rout deepens to $74 billion

BENGALURU, Feb 1 (Reuters) – India’s Gautam Adani lost his title of Asia’s richest person on Wednesday as a rout in his conglomerate’s stocks deepened to $74 billion after a short-seller report. A report by Hindenburg Research last week alleged improper use of offshore tax havens while flagging concerns about high debt and the valuations …

Gautam Adani no longer Asia’s richest person as stock rout deepens to $74 billion Read More »

China economic activity swings back to growth in January – official PMI

BEIJING, Jan 31 (Reuters) – China’s economic activity swung back to growth in January, after a wave of COVID-19 infections passed through the country faster than expected following abandonment of pandemic controls. Domestic orders and consumption drove output higher, according to the first broad data to show how quickly China is recovering from its COVID …

China economic activity swings back to growth in January – official PMI Read More »

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

MUMBAI, Jan 31 (Reuters) – Indian billionaire Gautam Adani’s $2.5 billion share sale inched closer to full subscription on Tuesday as investors pumped in funds after a tumultuous week for his group in which its stocks were pummeled by a scathing short-seller report. The secondary share sale of flagship Adani Enterprises (ADEL.NS) was subscribed 85% …

Adani’s crucial share sale 85% subscribed as institutions pump in funds Read More »

US stops granting export licenses for 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 US export restrictions around items for 5G and other technologies for several years, but officials in the US Department of Commerce have granted …

US stops granting export licenses for China’s Huawei – sources Read More »