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Gautam Adani loses $20 billion in 6 hours in his biggest-ever wealth wipeout

Gautam Adani lost over $20 billion, or about one-fifth of his total fortune, in just over six hours of trading on Friday, according to Bloomberg Billionaires Index. The decline marked the biggest wealth wipeout ever for 60-year-old Adani, whose net worth currently stands at $92.7 billion. Shares of listed Adani Group companies tanked after Hindenburg accused Adani of "brazen fraud". readmore...


Google HR laid off while interviewing candidate, says call was disconnected abruptly

A Google recruiter who has been laid off stated that he was in the middle of a call with a potential candidate when it was suddenly disconnected. "I didn't expect it to come to such an abrupt end," Dan Lanigan Ryan wrote on LinkedIn. "Only a week ago there was talk of...pay rise, I've been caught off guard," he added. readmore...


Go First fined ₹10 lakh for leaving behind 55 passengers at Bengaluru airport

The DGCA has imposed a fine of ₹10 lakh on Go First in connection with an incident wherein a Delhi-bound flight left behind 55 passengers at the Bengaluru airport on January 9. "The airline failed to ensure adequate arrangement for ground handling, preparation of load and trim sheet, flight dispatch and passenger/cargo handling," the DGCA said in a statement. readmore...


If Allah created Pakistan, He can make it prosper: Pak Finance Minister amid crisis

Pakistan's Finance Minister Ishaq Dar has said that Pakistan is the only country founded in the name of Islam. He added, "If Allah has created Pakistan, then He can also protect, develop, and make it prosper." The Minister's comments come at a time when the cash-strapped country is facing a severe shortage of food amid an economic crisis. readmore...


Who are now the world's 10 richest persons as Gautam Adani drops to 7th position?

Gautam Adani has dropped to the seventh position in Forbes' real-time list of world's richest persons as Adani Group companies lost a combined $48 billion in market capitalisation since Wednesday following Hindenburg Research's report. Bill Gates has taken the sixth position, while Warren Buffett is now the world's fifth richest person. The list is led by Bernard Arnault & family. readmore...


LIC loses ₹16,000 crore value in Adani stocks in 2 days

Life Insurance Corporation of India's (LIC) share value in Adani Group companies has declined by ₹16,000 crore in two days. The decline comes after the shares of listed Adani Group companies plunged as Hindenburg Research alleged fraud and stock manipulation by Adani, wiping out $50 billion from their market values. LIC is an investor in five Adani companies. readmore...


Some Morgan Stanley staff fined $1 mn each for doing business on WhatsApp: FT

Morgan Stanley imposed monetary penalties on employees who used messaging platforms such as WhatsApp for company business, Financial Times reported. The penalties reportedly range from several thousand dollars for some staff to more than $1 million for others. The penalty amounts were determined by factors like number of messages sent, the banker's seniority, among other things, the report said. readmore...


Amazon to sell $123 mn US office complex it bought in 2021: Report

Amazon is reportedly planning to sell an office complex in California that it bought for $123 million in October 2021. The 29-acre property was purchased as part of Amazon's strategy to lock up real estate near big cities that could be used for new warehouses, Bloomberg reported. The company is reportedly expected to take a loss on the sale. readmore...


Mastercard CFO Mehra named among new Salesforce board directors

Salesforce on Friday announced the appointment of three new independent directors to its board. Mastercard CFO Sachin Mehra, ValueAct Capital CEO Mason Morfit and Carnival Corporation's ex-CEO Arnold Donald will join the board on March 1, Salesforce said. This reportedly comes as Salesforce faces pressure from activist investors for better cost control and a management shakeup. readmore...


India's smartphone shipments fall 9% YoY to 152 mn units: Report

India's smartphone shipments declined 9% year-on-year to reach over 152 million units in 2022, according to a research by Counterpoint. Samsung led the market in 2022 in terms of shipment value share with a 22% share, followed by Apple at 18%. In terms of shipment volume, Xiaomi led the market in 2022 with a 20% share. readmore...


Intel's market value falls by $8 bn after poor Q1 2023 projections

Intel's market value dropped by $8 billion on Friday after the company posted poor earnings projections on the back of a decline in personal computer sales. The company has predicted a loss of $0.15 per share for the first quarter of 2023 and its revenue forecast was $3 billion below estimates. Intel's shares were 6.4% lower at market closure. readmore...


Hope govt lowers taxes on imported cars in Budget: Lamborghini

Lamborghini Director for Asia Pacific Francesco Scardaoni told CNBC-TV18 that he hoped that the Indian government reduced taxes on imported cars in the upcoming Budget for 2023-24. Lamborghini delivered 92 units in India, an increase of 30% from 2021, he mentioned. Scardaoni added that sales in India are still growing and the same trend will continue in 2023. readmore...


OYO estimates revenue to jump to $751 mn in FY23: CEO Agarwal

Travel-tech firm OYO estimates its revenue in 2022-23 to be $751 million, up 19% from $629 million in previous fiscal, CEO Ritesh Agarwal told the employees. Agarwal added that OYO is progressing towards its "first-ever full fiscal year of EBITDA profitability". He further said the company's hotel business has been witnessing a strong growth in monthly revenue per hotel. readmore...


Porsche's car delivery in India rises 64% to 779 units in 2022

German sports luxury carmaker Porsche said its car deliveries in India surged by 64% year-on-year in 2022 to 779 units against 474 units in 2021. The carmaker said the sales include 78 units of its all-electric Taycan, which was launched in November 2021. Porsche India witnessed a 69% growth in SUV sales last year. readmore...


Hindenburg report on Adani highly credible: Billionaire Ackman

Billionaire US investor Bill Ackman said that he found Hindenburg Research's report on India's Adani Group highly credible and extremely well-researched. "Adani's response to Hindenburg Research is the same as Herbalife's response to our original 350-page presentation," Ackman wrote on Twitter. Adani Group has said that it is evaluating "remedial and punitive action" against Hindenburg. readmore...


Vedanta's Q3 net profit plunges 42% to ₹3,092 crore

Vedanta Limited on Friday reported a 42% decline in its net profit to ₹3,092 crore for the quarter ended December 2022 as against ₹5,354 crore from the year-ago period. Its revenue from operations declined by 0.017% year-on-year to ₹33,691 crore. The company's board of directors approved the fourth interim dividend of ₹12.50 per equity share amounting to ₹4,647 crore. readmore...


Goldman Sachs cuts CEO Solomon's 2022 pay by 29% to $25 mn

Goldman Sachs Group Inc cut Chief Executive Officer David Solomon's compensation for 2022 by about 29% to $25 million from $35 million in 2021. The bank's compensation committee cited the "challenging operating environment" as a factor in deciding Solomon's pay, according to the bank's filing. The package includes a $2 million base salary and $23 million in variable compensation. readmore...


Ambuja's shares fall 25% in sharpest intraday drop since 2006

Ambuja Cements' shares fell nearly 25% on Friday to record their sharpest intraday drop since May 2006. Stocks of all 10 listed companies related to the Adani Group declined after Hindenburg Research accused it of improper use of offshore tax havens and flagged concerns about high debt. Adani acquired Ambuja Cements and its subsidiary ACC for ₹81,339 crore in 2022. readmore...


Indian economy resilient in hostile global environment: RBI Guv

Reserve Bank of India (RBI) Governor Shaktikanta Das on Friday said the Indian economy remains resilient despite a hostile and uncertain international environment. "The global economy is still marred by shocks and uncertainty. Financial markets remain volatile and the geopolitical situation continues to be tense," Das said. "Our financial system remains robust and stable," he added. readmore...


Bank unions defer two-day strike, next round of talks on Jan 31

The United Forum of Bank Unions (UFBU) deferred the two-day strike scheduled for January 30 and 31 after a conciliation meeting with the Indian Banks' Association on Friday. The next round of talks will be held on January 31. The bank unions are demanding a five-day work week and the restoration of the old pension scheme, among other things. readmore...


Adani Enterprises' ₹20,000 cr FPO subscribed 1% on day 1

Adani Enterprises' follow-on public offer (FPO) received bids for 4.7 lakh shares or about 1% of the issue size of 4.55 crore shares on January 27, the first day of bidding. Retail investors put in bids for close to 4 lakh shares against 2.29 crore shares reserved for them. Adani Enterprises plans to raise ₹20,000 crore via the FPO. readmore...


India's forex reserves rise by $1.727 bn to $573.727 bn

India's foreign exchange reserves rose for a second consecutive week by $1.727 billion to $573.727 billion in the week ended January 20, according to Reserve Bank of India (RBI) data. For the week ended January 13, the forex reserves jumped $10.417 billion to $572 billion. Foreign Currency Assets increased by $839 million to $506.358 billion, according to the data. readmore...


Not concerned about Adani Group's debt serviceability: SBI

The State Bank of India (SBI) is not concerned about Adani Group's debt serviceability, MD of Corporate Banking and Subsidiaries, Swaminathan Janakiraman told CNBC-TV18. All exposure to the group from SBI is secured by cash-generating assets, he added. Swaminathan mentioned that Indian banking system's exposure, as a percentage, to the group's total debt has been declining over last 2-3 years. readmore...


Swedish fashion retailer H&M reports Q4 loss at $84 mn

Swedish fashion retailer H&M reported a loss of 864 million Swedish kronor ($84 million) in the fourth quarter. The world's second largest fashion retailer reported a 68% decline in its net profit at 3.6 billion Swedish kronor ($349 million) for the year ending November 30, 2022. H&M said that winding down the Russian operations has negatively impacted its business. readmore...


Hinduja Global to buy back shares worth ₹1,020 cr on March 6

Hinduja Global Solutions on Friday said that its board has fixed March 6 as the record date for the planned share buyback worth up to ₹1,020 crore. The buyback price has been fixed at ₹1,700 per share, exchange filing showed. Under the scheme, Hinduja Global will buy back 60 lakh shares from eligible shareholders. readmore...


Stocks give up gains, S&P 500 turns negative as Treasury yields hit new highs - CNBC

Investors continued to monitor surging Treasury yields for recession signals even with a stronger-than-expected earnings season underway.

Stocks were mixed in choppy trading on Thursday as investors weighed several key earnings reports and kept an eye on the bond market, where Treasury yields continue to climb. The Dow Jones Industria… [+1974 chars] readmore...


AT&T CFO: Overdue bills 'slightly worse than pre-pandemic norms' - Yahoo Finance

#AT&T #pandemic #yahoofinance AT&T CFO Pascal Desroches joins Yahoo Finance Live Brian Sozzi, Brad Smith and Julie Hyman to discuss company earnings, subscri...

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Principal Asset Management on Financial Inclusion and Economic Resilience - Bloomberg Live

Kamal Bhatia, Chief Operating Officer, Principal Asset Management discusses financial inclusion and economic resilience with Bloomberg's Sonia Meggie at the ...

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American Air CFO on Costs, Demand, Industry Constraints - Bloomberg Markets and Finance

American Airlines CFO Derek Kerr says the airline isn't flying as much as the company wants due to industry constraints. Speaking on "Bloomberg Markets," Ker...

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Mortgage rates rise to 6.94% for 30-year - Yahoo Finance

Don't Miss: Valley of Hype: The Culture That Built Elizabeth HolmesWATCH HERE:https://youtu.be/Sb179GLPNYESubscribe to Yahoo Finance: https://yhoo.it/2fGu5Bb...

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Fed's Harker sees 'lack of progress' on inflation, expects aggressive rate hikes ahead - CNBC

Philadelphia Federal Reserve President Patrick Harker on Thursday said higher interest rates have done little to keep inflation in check, so more increases will be needed.

Philadelphia Federal Reserve President Patrick Harker on Thursday said higher interest rates have done little to keep inflation in check, so more increases will be needed. "We are going to keep rais… [+1532 chars] readmore...


Fed's Bullard: Federal Reserve will be closer to 'ordinary' monetary policy next year - Yahoo Finance

#FederalReserve #interestrates #inflation Yahoo Finance's Jennifer Schonberger reports on the latest Fed commentary on interest rate hikes and the housing ma...

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Tata Consumer Q2 profit rises 36% to Rs 355 crore, margins hit by international biz - Moneycontrol

Consolidated revenue came in at Rs 3,363 for the quarter, an increase of 11 percent

Tata Consumer Products on October 20 reported a 36 percent year-on-year (YoY) growth in net profit at Rs 355 crore for the quarter ended September. In the corresponding quarter last fiscal, net profi… [+3013 chars] readmore...


Lower aluminum prices weigh on Alcoa earnings - Yahoo Finance

#aluminum #Alcoa #yahoofinance Yahoo Finance anchors Julie Hyman, Brian Sozzi and Brad Smith discuss Alcoa earnings missing estimates as aluminum prices fall...

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Cebr and Bank of Ireland talk New Voices, New Solutions and Tackling Inflation - Bloomberg Live

Nina Skero, Chief Executive, Cebr and Semin Soher Power, Head of Inflation Trading, Bank of Ireland, two graduates from Bloomberg's Global New Voices discuss...

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American Airlines: Our customers aren't buying international first class tickets. So we're eliminating them - CNN

American Airlines expanded on its plan to drop international first-class cabins and replace them with more business class seats.

American Airlines expanded on its plan to drop international first-class cabins and replace them with more business class seats. The move was first disclosed last month and reiterated in a conferenc… [+784 chars] readmore...


Google Fined Rs 1,337 Crore In India For "Abusing Its Dominant Position" - NDTV

The country's competition regulator has fined Alphabet Inc's Google Rs 1,337 crore for anti-competitive practices related to Android mobile devices.

The CCI has fined Google over Rs 1,000 crore for anti-competitive practices New Delhi: The country's competition regulator has fined Alphabet Inc's Google Rs 1,337 crore for anti-competitive practic… [+1916 chars] readmore...


National Grid to pay households more to use off-peak power - The Guardian

Homes with smart meters to be paid £3 per KW hour to boost use at night and take strain off power grid

National Grid has significantly increased its financial incentive for households that shift their power usage away from peak times as part of a renewed effort to prevent rolling power cuts. Its elec… [+3640 chars] readmore...


Introduction to Contrast Injectors - MD Publishing, Inc.

Stephen Maull, Owner, Maull Biomedical Training LLCThis course will teach the purpose of contrast injectors, the principles of why the different parameters a...

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How much small business owners should pay themselves - CNBC

Many founders invest profits back into growing a business. Setting their own take-home pay remains a challenge, and it is often overlooked.

Many small business owners have trouble figuring out an appropriate take-home pay as the company expands, and some dont pay themselves at all. These mistakes can easily come back to bite the founder … [+5447 chars] readmore...


PH shares join regionwide sell-off amid Wall Street losses - ANC 24/7

The World Tonight: Philippine shares joined a region-wide sell-off, as fund managers decided to trim positions following Wall Street's losses.For more ANC Hi...

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'Buy Russian Gas,' Qatar Backs Off From Supplying Gas to Europe | Russian Gas Only Solution - Firstpost

Europe has been warned. It has been told in no uncertain terms that there is no alternative to Russian natural gas supplies, unless Europe wants to get devas...

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Over 1.5M dry shampoo products recalled in Canada over cancer risk - Global News

Several lots of hair products by Dove, Bed Head and Tresemmé have been recalled across Canada due to the detection of benzene, a cancer-causing chemical.

Thousands of Unilever hair products have been recalled across Canada due to the detection of benzene, a cancer-causing chemical. Health Canada issued the recall Tuesday for more than 1.5 million dry… [+1627 chars] readmore...


Lidl, Iceland and Tesco among retailers recalling products - Eastern Daily Press

A "do not eat" warning has been issued for a number of products sold at major supermarkets, including Lidl, Iceland and Tesco.

A "do not eat" warning has been issued for a number of products sold at major supermarkets, including Lidl, Iceland and Tesco.  Trading Standards has issued warnings about a number of items that sho… [+2462 chars] readmore...


Amazon could pay UK shoppers £900m compensation - BBC

A group-action claim alleges Amazon breached competition law and caused customers to pay higher prices.

Amazon shoppers in the UK could receive a share of £900m in compensation, once a legal claim is submitted against the technology giant. The proposed claim alleges the company breached competition l… [+3693 chars] readmore...



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