Gulf markets mixed as Qatar falls, Dubai gains

Feb 2 (Reuters) – Qatar’s stock market was the worst performer among mixed Gulf bourses on Thursday amid volatile energy markets, while Dubai shares ended higher on a strong banking sector performance. The Qatari stock index (.QSI) dropped 0.9%, falling for a fourth consecutive session, with most of its constituent stocks in negative territory. Index … Read more

Investor reaction to Adani market rout after short-seller report

SINGAPORE, Feb 2 (Reuters) – Adani Group called off a $2.5 billion share sale as losses for the conglomerate’s biggest firms snowballed to more than $100 billion in the wake of a US short-seller’s report. The rout has sparked concern that the fallout could also affect, more broadly, confidence in India. Following are comments from … Read more

Microsoft rolls out ChatGPT-powered Teams Premium

Feb 1 (Reuters) – Microsoft Corp (MSFT.O) on Wednesday rolled out a premium Teams messaging offering powered by ChatGPT to simplify meetings using the AI ​​chatbot that has taken Silicon Valley by storm. The premium service will cost $7 per month in June before increasing to $10 in July, Microsoft said. OpenAI-owned ChatGPT will generate … Read more

Adani market losses snowball to $100 bln on shelved 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 offering, 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 … Read more

Wall Street down but off session lows after Fed rate hike, trading choppy

Fed raises interest rates, sees “ongoing increases” Indexes down: Dow 0.96%, S&P 0.40%, Nasdaq 0.03% Feb 1 (Reuters) – US stock indexes were lower on Wednesday in choppy trade, bouncing off session lows hit when the Federal Reserve increased interest rates by a quarter of a percentage point and said it expects “ongoing increases” in … Read more

Exclusive: EV maker Rivian to cut 6% of jobs amid price war – internal memo

SAN FRANCISCO, Feb 1 (Reuters) – Rivian Automotive (RIVN.O) is laying off 6% of its workforce in an effort to cut costs as the EV maker, already grappling with falling cash reserves and a weak economy, braces for an industry -wide price war. The company is focusing resources on ramping up vehicle production and reaching … Read more

Adani abandons $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 … 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 … Read more

AMD revenue beats targets, Wall St relieved after Intel’s grim outlook

Jan 31 (Reuters) – US chip maker Advanced Micro Devices Inc (AMD.O) on Tuesday posted revenue that beat Wall Street targets and said it expected business to improve in the second half, enthusing investors who saw the company gaining on rival Intel. Shares rose about 1.5% in after hours trading. Although AMD’s forecast was behind … Read more

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 … Read more