Bloomberg Business

The selloff in Gautam Adani’s corporate empire accelerated on Friday, erasing more than $51 billion of market value in two sessions as Asia’s richest man struggles to contain the fallout from a scathing report by US short seller Hindenburg Research.

Abu Dhabi-based International Holding Co., which has invested almost $2 billion in companies owned by billionaire Gautam Adani, said its business decisions are based on facts after a scathing report on the Indian tycoon’s business empire by US short seller Hindenburg Research.

If early signals from General Motors and Nissan are any indication, small electric trucks are next in line to get the Tesla treatment.

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(Bloomberg) — Spain grew more than anticipated in the final quarter of last year, indicating the euro zone’s fourth-largest economy is on track to avoid a recession even as high inflation squeezes household spending.

(Bloomberg) — The recent decline in temporary jobs — often a harbinger of recession — is actually raising hopes among Federal Reserve policymakers that their bid for a soft landing is working.

President Joe Biden’s expectations for a quick resolution of a probe into his mishandling of classified documents have been dashed, as a steady drip of new developments has tied it into political knots.

Commodities trading giant Trafigura Group is ending a relationship with the government of Kurdistan in northern Iraq, a fresh blow to the region’s ability to sell its oil independently.

British convenience store operator Bestway Group Ltd. has bought a 3.45% stake in J Sainsbury Plc and said it may look to buy more in a move that will prompt speculation about the future of the UK grocer.