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Adani’s market losses top $100bn as discontinued stock sale spooks investors

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NEW DELHI/MUMBAI, Feb 2 (Reuters) – Adani Group’s market losses hit more than $100 billion and raised concerns about their potential systemic impact on Thursday, a day after its flagship company quit a $2.5 billion stock offering. The withdrawal from the Adani Enterprises (ADEL.NS) stock sale caps a dramatic setback for founder Gautam Adani, the …

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Hindenburg bet against Indian Adani intrigues rival US short sellers

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Feb 1 (Reuters) – When Hindenburg Research disclosed a short position in Adani Group last week, some U.S. investors said they were intrigued by the actual mechanics of its trading because Indian securities rules make it difficult for foreigners to bet against companies there. Hindenburg’s bet has been lucrative so far. His allegations, which the …

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Adani drops $2.5bn share sale in blow to Indian tycoon

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NEW DELHI, Feb 1 (Reuters) – Gautam Adani’s flagship company on Wednesday called off its $2.5 billion share sale in a dramatic reversal as the rout sparked by criticism from a U.S. short seller erased billions more of the value of the Indian tycoon’s shares. The withdrawal of the Adani Enterprises (ADEL.NS) stock offering marks …

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Gautam Adani loses Asia’s richest crown as stock rout worsens to $84bn

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BENGALURU, Feb 1 (Reuters) – Indian tycoon Gautam Adani lost his title as Asia’s richest person on Wednesday as the rout of his conglomerate’s biggest companies worsened to $84 billion following a a report on short sellers. A Hindenburg Research report last week alleged the group’s misuse of offshore tax havens and stock manipulation, as …

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US seeks Tesla driver assistance documents; the company increases its investment forecast

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WASHINGTON, Jan 31 (Reuters) – Tesla Inc (TSLA.O) disclosed on Tuesday that the U.S. Justice Department had sought documents related to its self-driving (FSD) and Autopilot assistance systems as the regulatory scrutiny intensifies. The automaker said in a filing that it “has received requests from the DOJ for documents related to Tesla’s Autopilot and FSD …

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Exclusive: Bed Bath & Beyond is preparing to file for bankruptcy this week – sources

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

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Crucial sale of Adani shares 85% subscribed as institutions inject funds

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MUMBAI, Jan 31 (Reuters) – Indian billionaire Gautam Adani’s $2.5 billion share sale edged closer to full subscription on Tuesday as investors pumped in after a tumultuous week for his group in during which its shares were ravaged by a scathing report on short sellers. The secondary sale of shares in flagship Adani Enterprises (ADEL.NS) …

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Sale of Adani shares for $2.5 billion faces crucial day after rout

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NEW DELHI, Jan 29 (Reuters) – Gautam Adani faces a critical day on Monday with his flagship company’s second day of $2.5 billion auction, eclipsed by a $48 billion rout in shares of the Indian billionaire which was triggered by a report from an American short seller. Seven listed companies belonging to the Adani conglomerate, …

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Adani hits back at Hindenburg, says he made all the revelations

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Adani publishes 413-page rebuttal to Hindenburg report US short seller’s report sparked drop in Adani shares Adani says he follows laws and necessary disclosures CFO Adani confident $2.5 billion share sale will succeed NEW DELHI, Jan 30 (Reuters) – India’s Adani Group issued a detailed response on Sunday to a Hindenburg Research report that sparked …

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Gautam Adani: Asia’s richest man in the eye of the storm

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NEW DELHI, Jan 30 (Reuters) – Indian Gautam Adani, the school dropout turned billionaire who became Asia’s richest man, faces perhaps his biggest challenge after the actions of his companies collapsed when a US short seller questioned their business practices. . Adani, originally from Gujarat in western India, built his empire from scratch after starting …

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