Adani Group beats Hindenburg ‘attack on India’ as share price hits $70 billion

Adani Group beats Hindenburg ‘attack on India’ as share price hits  billion

New Delhi CNN — The Adani Group has accused a US investment firm of launching “a calculated attack” on India by publishing a report alleging widespread fraud at the Ports-to-Power conglomerate. Hindenburg Research last week released its report on billionaire Gautam Adani’s affairs, accusing the group of “brutal stock manipulation and accounting fraud over decades.” … Read more

Gautam Adani’s company loses $50 billion in market value after short seller report

Gautam Adani’s company loses  billion in market value after short seller report

New Delhi CNN — The value of Gautam Adani’s business empire has collapsed by more than $50 billion this week since Hindenburg Research, a US company that makes money from short selling, published a damning report accusing it of fraud. India’s Adani Group has labeled Hindenburg’s allegations as “baseless” and “malicious” and is considering legal … Read more

How M&M’S is making the most of the spokes controversy

How M&M’S is making the most of the spokes controversy

New York CNN — Over the past year, M&Ms have been the subject of Fox News tirades and criticism from a small segment of fans – first for changing the green M&Ms shoes and more recently with female M&M characters on the packaging for International Women’s Day. So this week it announced a change: after … Read more

Boeing is making a big loss

Boeing is making a big loss

New York CNN — Boeing reported a $650 million operating loss in the fourth quarter, surprising Wall Street analysts who had expected the aircraft giant to turn a profit. The company blames the unexpected loss on “abnormal production costs” as it both tried to meet the remaining backlog of 737 Max jets and ramped up … Read more

DOJ is suing Google for its dominance in the online advertising market

DOJ is suing Google for its dominance in the online advertising market

CNN — The Justice Department and eight states sued Google on Tuesday, accusing the company of harming competition with its dominance of the online advertising market and calling for its split. The move marks the Biden administration’s first blockbuster antitrust case against a Big Tech company. The eight states joining the lawsuit are California, Colorado, … Read more

Taylor Swift: Live Nation exec will face lawmakers over concert ticket fiasco

Taylor Swift: Live Nation exec will face lawmakers over concert ticket fiasco

New York CNN — Legislators are set up to grill top executives the event ticketing industry on Tuesday after Ticketmaster’s inability to process orders for Taylor Swift’s upcoming tour left millions of fans unable to buy tickets or without their ticket even after purchase. Joe Berchtold, the president and CFO of Live Nation Entertainment, parent … Read more

Bill Gates supports start-up that tackles cow burps and farts

Bill Gates supports start-up that tackles cow burps and farts

CNN — It turns out that farmers can be big business. Billionaire Bill Gates has announced an investment in Australian start-up Rumin8, which is developing a seaweed-based feed to reduce the methane emissions cows produce through their burps and, to a lesser extent, farts. Methane is a powerful greenhouse gas. Although it has a shorter … Read more

Elon Musk returns to the stand in class action lawsuit over controversial tweet

Elon Musk returns to the stand in class action lawsuit over controversial tweet

Washington, DC CNN — Tesla CEO Elon Musk took a second day on the witness stand Monday, trying to explain the thought process behind his controversial 2018 “funding secured” tweet, defending the idea that it was partly a joke. Musk, Tesla and company executives are facing a shareholder lawsuit over the tweet, in which the … Read more

Economic barometer warns that US recession could be imminent

Economic barometer warns that US recession could be imminent

Minneapolis CNN — An important barometer of the health of the economy continues to send a recession warning signal, indicating that the US is facing a recession in the near future. A growing number of business leaders agree that the US economy is deteriorating. America is not yet in an official recession, at least not … Read more

Here are the companies that laid off workers this year

Here are the companies that laid off workers this year

New York CNN — This week Alphabet, the parent company of Google, Microsoft (MSFT) and Vox Media announced layoffs affects more than 22,000 workers. Their move follows the job cuts earlier this month at Amazon, Goldman Sachs and Salesforce. More companies are expected to do the same as companies that have been aggressively hiring over … Read more