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

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 … 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, averting 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 … Read more

Hindenburg bet 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 to bet against companies there. Hindenburg’s bet has been lucrative so far. Its allegations, which the … 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

Biden moves to slash US credit card fees, app charges

WASHINGTON, Feb 1 (Reuters) – The White House on Wednesday unveiled fresh efforts to slash credit card late fees and drive down the prices that Apple Inc (AAPL.O) and Google parent Alphabet Inc (GOOGL.O) charge on mobile app stores . The move is part of a larger policy drive to promote competition in consumer markets, … Read more

Exclusive: Indian market regulator examining Adani share route, source says

MUMBAI, Feb 1 (Reuters) – India’s market regulator is examining a recent crash in shares of Adani Group and looking into any possible irregularities in a share sale by its flagship company, a source with direct knowledge of the matter told Reuters on Wednesday. The Securities and Exchange Board of India’s (SEBI) examination comes on … Read more

UK’s teachers and civil servants join mass strike on ‘Walkout Wednesday’

Up to 500,000 people expected to join UK strikes Government says big pay rises will fuel inflation Schools shut, most trains not running More strikes involving health workers due next week LONDON, Feb 1 (Reuters) – Up to half a million British teachers, civil servants, and train drivers walked out over pay in the largest … 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

France hit by new wave of strikes against Macron’s pension reform

Reform would raise the retirement age to 64 Schools, transport networks, refinery deliveries hit Macron: Reform vital to ensure viability of pension system SAINT-NAZAIRE, France, Jan 31 (Reuters) – Striking workers disrupted French refinery deliveries, public transport and schools on Tuesday in a second day of nationwide protests over President Emmanuel Macron’s plan to make … Read more