Bill Ackman Says Hindenburg’s Adani Report ‘Highly Credible’

2023-01-27 | Commodities , Current Affairs , Forex , Securities

Jan 27 (Reuters) – Billionaire U.S. investor Bill Ackman said on Thursday that he found short-seller Hindenburg Research’s report on India’s Adani Group “highly credible and extremely well researched.”

Shares in seven listed group companies of Adani lost $10.73 billion in market capitalization in India on Wednesday after the U.S. short-seller released the report, which accused the conglomerate of improper use of offshore tax havens.

Full coverage: REUTERS

Tata’s Air India To Seal Half Of Jumbo Plane Order – Sources

NEW DELHI, Jan 27 (Reuters) – Air India will on Friday seal half of an order for some 495 jets with Boeing (BA.N) and engine suppliers General Electric (GE.N) and CFM International, industry sources said, as its new owner seeks to revive the airline and compete with larger rivals.

After months of closely guarded, tough negotiations, Air India is set to place an order for 190 Boeing 737 MAX narrowbody planes as well as some 20 Boeing 787s and 10 Boeing 777X on a day marking one year since Tata Group took control of the former state-run carrier, two sources told Reuters.

Full coverage: REUTERS

Rising Interest Rates Have A Sting In The Tail For Europe’s Banks

LONDON/FRANKFURT, Jan 27 (Reuters) – Rising borrowing costs are giving a long-awaited lift to Europe’s beleaguered banks, but they come with a sting in the tail.

Last year central banks ended a decade of rock-bottom interest rates as the U.S. Federal Reserve and then the European Central Bank moved towards tightening.

Two of Europe’s big corporate and mortgage lenders, Sweden’s SEB and Spain’s Sabadell, recently unveiled strong profits for 2022 as that trend helped lending lift earnings.

Full coverage: REUTERS

Oil Prices Advance On U.S. Growth, Chinese Recovery Hope

Jan 27 (Reuters) – Oil prices edged ahead for a second session on Friday, buoyed by stronger-than-expected U.S. economic growth and hopes of a rapid recovery in Chinese demand as COVID-19 cases and deaths plunged from last month’s peak levels.

Brent futures gained 18 cents, or 0.2%, to $87.65 a barrel by 0724 GMT, while U.S. crude rose 22 cents to $81.23 per barrel, a 0.4% gain. Both benchmarks had gained more than 1% on Thursday.

Full coverage: REUTERS

Morning Bid: Stumbling Away

A look at the day ahead in European and global markets from Ankur Banerjee

Chip giant Intel’s (INTC.O) grim earnings report along with mixed U.S data that showed a resilient economy but a labour market that remains tight will likely dominate investors’ minds and dictate Friday’s trading.

The U.S. chip bellwether expects to lose money in the current quarter as two pillars of its success in the past few years — the PC and data centre businesses — face slowing demand.

Full coverage: REUTERS

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2025-01-13 | Current Affairs

Dollar Surge Pressures Global Currencies Amid Fed Uncertainty

The U.S. dollar climbed sharply on Monday, reaching multi-year highs against other currencies after an unexpectedly strong U.S. jobs report highlighted the resilience of the American economy

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2025-01-10 | Current Affairs

Musk Urges State AGs to Facilitate OpenAI Stake Auction

Musk’s lawyer submitted a letter requesting the states to ensure an open bidding process to safeguard public interest as OpenAI move away from nonprofit control

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2025-01-09 | Current Affairs

Global Stocks Struggle Amid Rising Treasury Yields and Tariff Concerns

TODAY’S NEWS The ongoing selloff in global bonds intensified on Wednesday, weighing on Wall Street stocks and bolstering the dollar as robust U.S. economic data lowered hopes for imminent aggressive interest rate cuts by the Federal Reserve. The 10-year U.S. Treasury yield climbed to a peak of 4.73%, the highest since April 2024, before settling […]