Exclusive: Indian Regulator Probes Adani’s Links To Investors As Modi’s Office Is Briefed

2023-02-10 | Commodities , Current Affairs , Forex , Securities

MUMBAI/NEW DELHI, Feb 10 (Reuters) – India’s market regulator is investigating Adani Group’s links to some of the investors in the conglomerate’s aborted $2.5 billion share sale, two sources said, amid growing concern in New Delhi about a U.S. short-seller’s allegations against one of the country’s top industrial groups.

The Securities and Exchange Board of India (SEBI) is looking into any potential violation of Indian securities laws or any conflict of interest in the share sale process, said the two sources who have direct knowledge of the matter.

Full coverage: REUTERS

Microsoft Co-Founder Bill Gates: ChatGPT ‘Will Change Our World’

BERLIN, Feb 10 (Reuters) – Microsoft co-founder Bill Gates believes ChatGPT, a chatbot that gives strikingly human-like responses to user queries, is as significant as the invention of the internet, he told German business daily Handelsblatt in an interview published on Friday.

“Until now, artificial intelligence could read and write, but could not understand the content. The new programs like ChatGPT will make many office jobs more efficient by helping to write invoices or letters. This will change our world,” he said, in comments published in German.

Full coverage: REUTERS

Gigapresses – The Giant Die Casts Reshaping Car Manufacturing

TRAVAGLIATO, Italy, Feb 10 (Reuters) – By replacing around 60 welded components with a single module, gigantic aluminium die casting machines made by the likes of Tesla supplier IDRA Group are helping carmakers to simplify manufacturing and cut costs by up to 40% in some areas.

Tesla (TSLA.O) has pioneered the use of massive casting machines, also known as gigapresses, to make large single pieces of vehicle underbodies, streamline production and reduce the work of even robots.

Full coverage: REUTERS

Recession Alarm Bells Are Ringing, But (Much) Less Loudly Than Before

Feb 10 (Reuters) – The rapid reopening of China’s economy, plunging European gas prices and cooling U.S. inflation suggest a global recession may not be as deep and protracted as feared just weeks ago.

Yes, warning signals are still flashing as last year’s surge in inflation and interest rates bites, but a strong rally in world markets suggest optimism is returning.

The International Monetary Fund raised its 2023 global growth outlook and a painful euro area recession that was once seen as all-but-certain is less of a concern. Citi sees a 30% chance of a global recession this year, down from 50% in the second half of last year.

Full coverage: REUTERS

Morning Bid: Volatility Stirs

A look at the day ahead in U.S. and global markets from Mike Dolan.

World markets end a rough week of confusing and competing narratives in distinctly edgy form, with peculiarly subdued volatility gauges flickering back to life.

Although still close to long-term averages, the VIX ‘fear index’ (.VIX) has popped back above 20 for the first time this month – with Wall St (.SPX) wobbling on a mix of renewed interest rate angst and wayward steers from the corporate earnings season.

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 […]