By Herbert Lash NEW YORK (Reuters) -Global stock markets rallied and the dollar strengthened on Thursday after a slew of data showed a strong U.S. economy that is decelerating with slowing inflation, giving credence to the Federal Reserve’s desire to engineer a soft landing. Gross domestic product increased at a faster-than-expected 2.9% annual rate in …
By Seher Dareen (Reuters) – Gold prices fell on Thursday due to a firmer dollar and strong U.S. economic data that could prompt the Federal Reserve to keep interest rates higher for longer. Spot gold fell 0.8% to $1,931.37 per ounce by 1:52 p.m. ET (1852 GMT), after having slipped to as much as $1,918.49. …
Gold drops on strong U.S. economic data, firmer dollar Read More »
BENGALURU (Reuters) – Adani Group said on Thursday it is evaluating “remedial and punitive action” under U.S. and Indian laws against short-seller Hindenburg Research, which in a report accused the conglomerate of improper use of offshore tax havens. Shares in seven listed group companies of Adani lost $10.73 billion in market capitalisation in India on …
India’s Adani Group says evaluating action against Hindenburg Research Read More »
BENGALURU (Reuters) – Hindenburg Research said on Thursday it will demand documents in legal discovery process if Adani Group files a lawsuit in the United States against the short seller for its report on the Indian conglomerate. “We fully stand by our report, any action against us will be meritless,” Hindenburg Research said after Adani …
Hindenburg says if Adani Group files lawsuit it will demand company documents Read More »
(Reuters) -Private equity firms Accel and Tiger Global, two early backers of Indian e-commerce firm Flipkart, are in talks to sell their remaining stake in the company to parent Walmart Inc for about $1.5 billion, the Economic Times reported on Thursday. The stake, which collectively amounts to about 5%, would raise Walmart’s ownership in the …
Accel, Tiger Global mull exiting India’s Flipkart in $1.5 billion stake sale – ET Read More »
By Chris Thomas and Aditya Kalra BENGALURU (Reuters) – Hindenburg Research said it held short positions in India’s Adani Group, accusing the conglomerate of improper use of offshore tax havens and flagging concerns about high debt that eroded $11 billion in investor wealth on Wednesday. The group, which is led by Gautam Adani, the world’s …
Hindenburg shorts India’s Adani citing debt, accounting concerns; shares plunge Read More »
By Seher Dareen (Reuters) – Gold reversed course to edge up on Wednesday as the dollar weakened and investors kept a close eye on a slew of upcoming U.S. economic data that could influence the Federal Reserve monetary policy meeting next week. Spot gold rose 0.2% to $1,940.49 per ounce by 1:40 p.m. ET (1840 …
Gold hovers near nine-month high, focus turns to U.S. data Read More »
By Akriti Sharma (Reuters) -Microsoft Corp said on Wednesday it had recovered all of its cloud services after a networking outage took down its cloud platform Azure along with services such as Teams and Outlook used by millions around the globe. Azure’s status page showed services were impacted in Americas, Europe, Asia Pacific, Middle East …
Microsoft cloud outage hits users around the world Read More »
By Sethuraman N R and Aditi Shah BENGALURU (Reuters) -Indian carmaker Tata Motors beat analysts’ expectations to post a profit for the first time in two years as improving semiconductor chip supplies and rising demand helped its luxury car unit Jaguar Land Rover (JLR) turn profitable. Like others in the sector, Tata Motors and JLR …
Tata Motors returns to profit on Jaguar Land Rover bounce Read More »
BENGALURU (Reuters) – India’s Jyothy Labs Ltd on Wednesday reported a bigger-than-expected rise in quarterly profit boosted by its fabric care and dishwashing segments, sending shares up as much as 4.5%. Consolidated net profit rose 75.4% to 673.9 million rupees ($8.25 million) in the quarter ended Dec. 31, the company, known for its affordable “Ujala” …
India’s Jyothy Labs Q3 profit tops view on fabric care boost Read More »
