Adani Group companies lose $26 billion in market value after U.S. indictment

Adani Group companies lost $26 billion in market cap on Thursday, after the U.S. alleged that founder and chairman Gautam Adani was involved in a $250 million bribery scheme.

Business - MarketWatch - 19 minutes ago

Shares in India's Adani Group plunge 20% after US bribery, fraud indictments

One of Asia’s richest men, controversial Indian tycoon Gautam Adani, is again in the spotlight

World - ABC News - 1 hour ago

U.S. indicts Indian billionaire Gautam Adani in $265 million bribery scheme

Gautam Adani, one of the world's richest people, is accused of concealing that a solar energy project was being facilitated by an alleged $265 million bribery scheme.

Elon Musk is $26 billion richer after Tesla's best day on the stock market since 2013

Tesla shares soared 22% on Thursday, lifting the world's richest person's net worth by roughly $26 billion.

Business - CNBC - October 24

Gautam Adani charged in US over alleged $250mn bribery scheme

Prosecutors accuse tycoon and others of lying to investors and offering millions in bribes to land lucrative contracts

World - Financial Times - 10 hours ago

FirstFT: Russia fires its first intercontinental ballistic missile

Also in today’s newsletter, Indian billionaire Gautam Adani charged over alleged bribery scheme and DoJ requests Google break-up

World - Financial Times - 2 hours ago

Elon Musk’s xAI in Funding Talks That Could Value Company at $40 Billion

The financing efforts follow that of rival OpenAI, which recently closed a funding round that valued it at $157 billion.

Tech - The New York Times - October 31

Adani Group shares nosedive after chairman Gautam Adani charged with fraud in New York

Shares of India's Adani Group companies plunged after its billionaire chair Gautam Adani was indicted in a New York federal court.

Business - CNBC - 7 hours ago

Tesla hits $1tn market value after Musk-backed Trump win

Car company’s valuation saw sharp rally on growing bets CEO would reap the benefits of his support for president-elect. Tesla’s market value breached the $1tn mark in a sharp rally on Friday, on ...

World - The Guardian - November 8

Toast’s stock soars after company swings to profit and revenue beats estimates

Toast Inc.’s stock soared in after-hours trade Thursday, after the digital-payment platform for restaurants posted better-than-expected revenue for the third quarter, offsetting a profit miss.

Business - MarketWatch - November 8

Losing GPS could cost billions, so the Space Force is having companies like Astranis build a backup network

The U.S. Air Force began deploying the Global Positioning System (GPS) nearly 50 years ago, critical infrastructure to both the military and economy.

Business - CNBC - November 1

US Regulators Seek to Block UnitedHealth’s $3.3 Billion Purchase of Home Care Company

The Justice Department and four Democratic state attorneys general argued that United’s takeover would limit competition and harm consumers needing home or hospice care.

Business - The New York Times - November 12

Russian and Other Groups May Try to Undermine U.S. Elections After Vote

Groups from Russia and other countries could continue to stoke political discord until the election is certified in January, intelligence agencies say.

World - The New York Times - November 5

Elon Musk's companies balloon in value, with one exception

Tech giant Elon Musk has successfully expanded several businesses, bolstering his capital and financial prowess to become the richest person on Earth. But the billionaire entrepreneur has seen a ...

Politics - The Hill - 4 days ago

Adani Group slams 'baseless' New York fraud and bribery charges

India's Adani Group has denied allegations of bribery and fraud made by U.S. authorities in relation to the group's chair Gautam Adani.

Business - CNBC - 2 hours ago

Markets set for rally after U.S. elections, Barclays says

Markets will likely experience a ‘mild relief rally’ in the wake of the vote as a smooth transition starts to come into sight

Business - MarketWatch - October 28

What the stock market typically does after the U.S. election, according to history

Stocks typically rise after a presidential election, but investors need to be prepared for some short-term choppiness first, history shows.

Business - CNBC - November 5

Charter’s broadband saga may have bottomed. Has its stock done the same?

Charter shed 110,000 internet customers in the quarter, but a MoffettNathanson analyst thinks the rate of decline has bottomed out.

Business - MarketWatch - November 1

US House panel keeps Gaetz sex allegation report under wraps

Democrats demand release of files on Donald Trump’s pick to be country’s attorney-general

World - Financial Times - 13 hours ago

UK cuts fines for boilermakers in climbdown on heat pump sales

Shift comes after intense lobbying from industry over incoming penalties tied to net zero targets

World - Financial Times - 12 hours ago

McDonald’s Seeks to Resolve E. Coli Crisis and Return Focus to Value

The fast-food giant’s earnings results did not reflect the potential fallout from an E. coli outbreak that the company said it moved quickly to contain.

Business - The New York Times - October 31

Lebanon's Military Can Barely Fight---Even After $3 Billion From the U.S.

The country’s armed forces are ill-equipped to secure its borders and push aside Hezbollah, the Iran-backed militant group that is now battling Israel.

World - The Wall Street Journal - October 31

TSMC denies U.S. is probing the company after report suggests blacklisted Huawei is using its chips

TSMC has denied a report that the U.S. is investigating its dealings with Huawei, following news that one of its chips has been found in a Huawei product.

Business - CNBC - October 23

Elon Musk's xAI in Talks to Raise Funding Valuing It at $40 Billion

The new fundraising effort would substantially increase startup’s valuation from spring.

Tech - The Wall Street Journal - October 29

The Columbus Blue Jackets Are Now Valued Over $1 Billion Per Sportico

The Columbus Blue Jackets paid an expansion fee of $80 million to start in 2000.

Sports - Yahoo Sports - October 30

Philadelphia Phillies capital raise values the team at around $3 billion

The Philadelphia Phillies recently raised close to $500 million in capital from three new investors, according to two people familiar with the deal.

Business - CNBC - November 8

Hertz booked a $1 billion charge as the value of its cars dropped

Hertz’s stock slips, but bounces sharply off earlier lows, as $1 billion write-off of car values reflects acceleration of fleet rotation.

Business - MarketWatch - November 12

Elon Musk's xAI Startup Is Valued at $50 Billion in New Funding Round

The artificial-intelligence company has told investors it raised $5 billion in its latest funding round.

Tech - The Wall Street Journal - 16 hours ago

Trump wins historic comeback after 2020 loss, indictments and bruising campaign

Former President Donald Trump prevailed in his third presidential bid — after four indictments, one conviction, two Democratic opponents and two assassination attempts.

Tesla adds close to $150bn in market value on best day in over a decade

Car company sees biggest single-day stock gain since 2013 as CEO Elon Musk forecasts up to 30% in sales growth. Tesla shares closed up nearly 22% on Thursday – their biggest single-day gain in over ...

World - The Guardian - October 24

5 cheap stocks that value manager Bill Nygren likes in this overpriced market

Is the stock market expensive? Not if you know where to look.

Business - MarketWatch - November 9

Brussels to free up billions of euros for defence and security from EU budget

Policy shift will allow the bloc’s capitals to redirect ‘cohesion funds’ amid Ukraine conflict and Trump victory

Business - Financial Times - November 11

Interest rate cut expected from Fed, U.S. markets surge after Trump election win

Federal Reserve Chair Jerome Powell is expected to announce an interest rate cut of 0.25 percentage points Thursday afternoon. That news comes as U.S. markets soar following the election of Donald ...

Man arrested after £300,000 cheese theft

Fraudsters stole 22 tonnes of high-value cheddar worth more than £300,000 earlier in October.

Justice Department sues to block UnitedHealth Group's $3.3 billion purchase of Amedisys

The Justice Department is suing to block UnitedHealth Group’s $3.3 billion purchase of Amedisys

Health - ABC News - November 12

Marc Benioff is in talks to sell media company Time to Antenna Group

Benioff acquired Time in 2018 for $190 million. Early talks to sell to Antenna have centered around a price of $150 million, according to a person familiar.

Business - CNBC - November 1

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