FINS08

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 …

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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 …

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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 …

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Crypto lender Celsius propped up its token, benefiting insiders -US bankruptcy examiner

SINGAPORE/LONDON, Jan 31 (Reuters) – Bankrupt crypto lender Celsius Network used investor money and customer deposits to prop up its own token while two of its founders made millions of dollars from token sales, a US court-ordered examiner report released on Tuesday showed. Crypto lenders such as Celsius boomed during the COVID-19 pandemic, drawing customers …

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US seeks Tesla driver-assist documents; company hikes capex forecast

WASHINGTON, Jan 31 (Reuters) – Tesla Inc (TSLA.O) disclosed on Tuesday it had received requests from the US Justice Department for documents related to its Full Self-Driving and Autopilot driver-assistance systems as regulatory scrutiny intensifies. Reuters reported in October Tesla is under criminal investigation over claims that the company’s electric vehicles could drive themselves. The …

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Norway wealth fund posts record $164 bln loss

Loss in 2022 exceeds previous record from 2008 Inflation, geopolitical tensions remain risk factors Record inflow of money from oil and gas industry OSLO, Jan 31 (Reuters) – Norway’s wealth fund, one of the world’s largest investors, posted a record loss of 1.64 trillion crowns ($164.4 billion) for 2022, bringing to an end a three-year …

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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% …

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People who posted Sam Bankman-Fried’s bail should be named, US judge rules

NEW YORK, Jan 30 (Reuters) – A US judge on Monday said the names of two people who helped guarantee bail for indicted FTX cryptocurrency exchange founder Sam Bankman-Fried should be made public, but put his ruling on hold pending an expected appeal. US District Judge Lewis Kaplan in Manhattan ruled in favor of several …

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Exclusive: Bed Bath & Beyond preparing for bankruptcy as soon as this week

NEW YORK, Jan 30 (Reuters) – Bed Bath & Beyond Inc (BBBY.O) is preparing to seek bankruptcy protection as soon as this week, and has lined up liquidators to close additional stores unless a last-minute buyer emerges, four people familiar with the matter said on Monday. The timing of any bankruptcy filing was in flux …

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