Asia

Adani’s market losses top $100 billion as shelved share sale spooks investors

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Market route deepens in Indian tycoon Adani’s shares Adani Enterprises loses $26 bln in value since report Falls after Adani pulled share sale, investors spooked Analysts say signals confidence crisis in the Indian market NEW DELHI/MUMBAI, Feb 2 (Reuters) – Adani Group’s market losses swelled to more than $100 billion on Thursday, sparking worries about …

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Honda to start producing new hydrogen fuel cell system co-developed with GM

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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 around 2,000 units of …

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Rupee likely to open higher after Fed, local equities in focus

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MUMBAI, Feb 2 (Reuters) – The Indian rupee is expected to open stronger on Thursday, as markets perceive the US Federal Reserve to be a bit dovish, with investors keeping an eye on domestic equities after late developments in the Adani saga. The rupee was seen around 81.70 per US dollar in early trades, compared …

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Hindenburg bet against India’s Adani puzzles rival US short sellers

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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 house has been lucrative so far. Its allegations, which the …

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

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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 …

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Adani abandons $2.5 billion share sale in big blow to Indian tycoon

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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 criticism 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 …

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Europe grew faster than the US last year. Its markets are outperforming too

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London CNN — Europe’s stock markets have beaten Wall Street by the biggest margin in more than three decades over recent months as its economy looks set to dodge a recession many thought inevitable just a few weeks ago. Since late September, European market benchmarks have risen by 20 percentage points more than Wall Street …

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Adani loses Asia’s richest crown as stock route deepens to $84 billion

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BENGALURU, Feb 1 (Reuters) – Shares in Indian tycoon Gautam Adani’s conglomerate plunged again on Wednesday as a route in his companies deepened to $84 billion in the wake of a US short-seller report, with the billionaire also losing his title as Asia’s richest person. Wednesday’s stock losses saw Adani slip to 15th on Forbes …

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US, India partnership targets arms and AI to compete with China

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WASHINGTON, Jan 31 (Reuters) – The White House is launching a partnership with India on Tuesday that President Joe Biden hopes will help the countries compete against China on military equipment, semiconductors and artificial intelligence (AI). Washington wants to deploy more Western mobile phone networks in the subcontinent to counter China’s Huawei Technologies Co Ltd …

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