Presenting some of the good, bad and ugly looks of the week.
2016 is difficult to predict, and this uncertainty will drive volatility in global markets.
'India's edtech and start-up story will be in danger.'
In a lawsuit filed in US District Court in Manhattan, Precedo Capital Group Inc and Continental Advisors SA accused Twitter of using the aborted sale as a means to give the money-losing company a $10 billion market valuation and higher IPO price.
Merrill Lynch & Co Inc, said on Friday that Deepak Raj, who headed its global stock research team while it was the target of state and federal investigations, is leaving the Wall Street firm one week after his boss, Robert McCann, resigned.
Adani Group is expected to report a 20 per cent rise in its earnings before interest, tax, depreciation, and amortisation (Ebitda) at Rs 61,200 crore for the year that ended in March 2023 (2022-23, or FY23), according to a note submitted by the group to lenders recently. The group had earned Ebitda of Rs 57,299 crore in the preceding financial year that ended in March 2022 (2021-22). The group's gross debt was Rs 2.27 trillion as of March 31, 2023, and has projected to not take on additional debt until it lowers its existing one.
The 92-year-old hedge fund tycoon, who has been associated with supporting liberal causes, on Thursday sent shockwaves in the Indian political scene saying Gautam Adani and Prime Minister Narendra Modi's fates are entwined, and alleged that Modi was not a "democrat."
Attracted by what he calls a highly lucrative market for long-term investors, an Indian American has launched a private investment partnership to trade stocks of small- and medium-sized Indian companies that offer abundant investment opportunities.
The migration of domestically developed intellectual property to foreign corporations within India reflects an anomaly in the demand pattern of the country's job market, points out Kanika Datta.
As part of the deal, Hilton will continue to operate the property for 100 years and the 1,413 room hotel will undergo a major renovation.
The recovering valuations, will lead to enhanced optimism among investors about funding startups.
Adani Ports and Special Economic Zone (APSEZ) on Monday started the first debt buyback programme since billionaire Gautam Adani's conglomerate was targeted by a US short-seller in January. APSEZ floated a tender to buy back as much as $130 million of its July 2024 bonds and similar amounts in each of the next four quarters, it said in an exchange filing, as it looks to regain investor confidence by showing that its liquidity position is comfortable. Shares of Adani group companies pummelled after Hindenburg Research in a January 24 report accused it of accounting fraud and improper use of offshore tax havens for stock manipulation.
Traders in India, the world's largest gold consumer, were stocking up on the precious metal on Monday amid fears that a US-led war with Iraq was imminent and could push bullion prices higher, dealers said.\n\n\n\n
The FTSE 100 is up by about 2 per cent since the start of 2015, although the index is down 6 per cent from a record high of 7,122.74 points reached in April.
Byju's, India's most-valued startup, has decided to put two of its key assets -- Epic and Great Learning -- on the block to generate $800 million-$1 billion in cash, with an aim to meet the edtech firm's various commitments, including repaying the entire $1.2 billion term loan B (TLB) within six months, according to sources. The cash-strapped company has proposed repaying $300 million of the $1.2 billion loan in the next three months, depending on whether the lenders accept Byju's amendment proposal, said the people familiar with the development. "This loan repayment proposal has been submitted to the lenders and conversations are going in the right direction," said a person in the know.
Several US businesses were hit by technological issues on July 8.
IMAGES from Day 8 of the action at the US Open at USTA Billie Jean King National Tennis Center at Flushing Meadows in New York on Monday.
Asian stocks sagged on Monday, with risk sentiment dampened as Shanghai shares wobbled after the Chinese markets resumed trading following a four-day long weekend.
In 1937, a hydrogen-powered German airship flying into New Jersey caught fire and crashed, killing 35 passengers on board. It was sort of a man-made disaster as some 100 people were loaded on to a balloon filled with the most flammable material in the universe. The airship was named Hindenburg. Eight decades later, in 2017, a graduate of international business management from the University of Connecticut founded a "forensic financial research" firm to specialise in spotting wrongdoings and frauds, or what it calls man-made disasters, at companies around the globe and take market bets against them.
The sharpest contraction of the American economy in a decade is expected to get worse in the second quarter. White House senior economic adviser Kevin Hassett said that they expected second-quarter negative GDP growth between minus 15 and minus 20 per cent.
he media cited police as saying that a man wearing body armor entered a Tops Friendly Market after 2:30 pm EST (18:30 GMT) and opened fire with a rifle.
US short seller Hindenburg Research has rejected Adani Group's charge that its report was an attack on India, saying a "fraud" cannot be obfuscated by nationalism or a bloated response that ignored response to key allegations. Commenting on the 413-page response Adani Group released late on Sunday evening in response to its report, Hindenburg said it believed India was a vibrant democracy and an emerging superpower with an exciting future and it was Adani Group which was holding it back through "systematic loot". Hindenburg stood by its last week's report that said its two-year investigation found Adani Group "engaged in a brazen stock manipulation and accounting fraud scheme over the course of decades".
Gold prices are already moving fast to the key level of Rs 30,000 per 10 gms
Shahid's OTT debut, Ajith's bumper hit, and lots of romance. Sukanya Verma gives you some OTT recommendations for the week.
Crop loss would the highest in Karnataka (where a little more than 75 per cent of the national output comes from), followed by Kerala and Tamil Nadu.
Lord Jo Johnson, younger brother of former British prime minister Boris Johnson, has resigned his non-executive directorship of a UK-based investment firm linked with the now-withdrawn Adani Enterprises Follow-on Public Offer (FPO). 'The Financial Times' newspaper referenced UK Companies House records to reveal that 51-year-old Lord Johnson had been appointed as a director of London-based Elara Capital Plc in June last year and resigned on Wednesday, the day when the Adani Group announced withdrawal of the FPO. Elara, which described itself as a capital markets business raising funds for Indian corporates, was among the bookrunners on the FPO.
The front seats upped the fashion quotient considerably at the Dior Gateway of India show.
Accommodative monetary policy has driven a bull market in stocks in recent years, but the Bank of England is expected to raise interest rates early next year and the U.S. Federal Reserve not long after, tempering future gains.
The executive order, which was signed by Trump on Thursday, prohibits certain purchases involving publicly traded securities or any securities that are derivative of or are designed to provide investment exposure to such securities of any Communist Chinese military company.
Uber may be in the midst of a major controversy over a rape incident in India, but Infosys' CEO Vishal Sikka feels that digital services like this app-based taxi provider have huge potential in the country.
Khera said when a Joint Parliamentary Committee (JPC) could be set up by former prime ministers P V Narasimha Rao and Atal Bihari Vajpayee, 'what is the problem of Narendra Gautamdas, sorry....Narendra Damodardas Modi'.
Former Reserve Bank of India Governor Duvvuri Subbarao has said the central bank could lose control over money supply and inflation management if cryptocurrency is allowed in the country. Speaking at a webinar organised by the National Stock Exchange (NSE) and New York University (NYU) Stern School of Business, Rao also said India's case for issuing a central bank digital currency (CBDC) may not be strong as there are capital controls. "Crypto is backed by algorithms and there is fear that the central bank might lose control over money supply and inflation management.
Identifying cyber crime as a major threat, Sebi Chairman U K Sinha recently said such attacks are occurring these days in a more sophisticated manner.
The rot is is not limited to Chitra Ramkrishna and the yogi, observed Debashis Basu.
Wang ranked second on the list this year, with a fortune of 145 billion yuan.
High-networth individuals and domestic funds from India are eyeing a slice of the much-touted mega IPO of Chinese e-commerce giant Alibaba, which looking to raise an eye-popping $21.1 billion.
Since 2000, China has had the world's largest outflow of HNIs.
These photos prove we live in an odd, odd world!
Are we seeing a replay of March 2000? What are the similarities and differences and how worried should we be, asks Akash Prakash.
