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☆ This Y Combinator-backed startup wants to help scale the nascent insect protein sector. Check out the 15-slide pitch deck Entocycle used to raise $5 million.
▼ + stars: | 2023-01-31 | by ( Tasmin Lockwood | ) www.businessinsider.com time to read: +3 min

Insect protein could displace 20% of the UK's annual soy imports for animal feed by 2050. We got an exclusive look at the 15-slide deck Entocycle used to raise the Series A round. A Y Combinator-backed startup that has developed insect farming technology to help scale the nascent sector has just nabbed $5 million from European climate tech fund Climentum Capital. Insect protein has long been tipped as a way to alleviate pressure on the food system amid a growing population that is also grappling with climate change. Global insect protein startups raised just $146 million in venture capital in 2022, compared with $200 million the year prior, according to PitchBook.

☆ Adani vs Hindenburg: India’s top businessman faces biggest test
▼ + stars: | 2023-01-31 | by ( Diksha Madhok | ) edition.cnn.com time to read: +9 min

So, how did a relatively young and small New York financial research firm manage to bring the Adani juggernaut to a juddering halt? Much of his fortune is tied up in the sprawling Adani Group, which he founded over 30 years ago. This is not the first time analysts have expressed fear that the rapid expansion of Adani businesses comes with huge risk. In its response, Adani Group said that the “leverage ratios” of its companies “continue to be healthy and are in line with the industry benchmarks in the respective sectors. Adani Group “is not going anywhere,” said Rajat Sharma, founder of financial advisory firm Sana Securities.

☆ Adani Group Saga Is Credibility Test for India’s Markets, Institutions
▼ + stars: | 2023-01-30 | by ( Megha Mandavia | ) www.wsj.com time to read: +1 min

News about Adani appeared on a sign at the Bombay Stock Exchange, where shares of the group’s companies have plunged. The sprawling conglomerate built by Gautam Adani is under attack by short seller Hindenburg Research , which successfully deflated electric-vehicle maker Nikola Motors in 2020. Adani Group denies the allegations and says the short seller is trying to smear its reputation and derail a public stock offering. Shares of the group’s companies have plunged since Hindenburg’s report, wiping out nearly $64 billion in market value. Hindenburg’s report comes amid a $2.5 billion secondary share sale by Adani Enterprises that closes on Tuesday.

☆ Why a tiny American firm is taking aim at an Indian conglomerate
▼ + stars: | 2023-01-30 | by ( Allison Morrow | ) edition.cnn.com time to read: +6 min

New York CNN —Asia’s richest man is in the crosshairs of a research firm whose very name evokes panic. Gautam Adani is a 60-year-old tycoon who founded the Adani Group over 30 years ago, building it into India’s largest port operator, with businesses spanning infrastructure and energy production. Hindenburg said Adani Group shares are massively overvalued, and it has taken a short position (more on that in a minute) on them, meaning Hindenburg wins when Adani shares fall. What is Hindenburg Research? Hindenburg is a short-seller that specializes in forensic financial research, founded in 2017 by Nathan Anderson.

☆ NBA roundup: Mavs win game but lose Luka Doncic
▼ + stars: | 2023-01-27 | by ( ) www.reuters.com time to read: +5 min

Knicks 120, Celtics 117 (OT)Julius Randle scored 37 points and Jalen Brunson added 29 as New York came back to win in overtime in Boston. Brunson added four rebounds, seven assists and two blocks, rejecting Malcolm Brogdon's potential game-tying 3 at the buzzer. Jayson Tatum had 35 points and 14 rebounds while Jaylen Brown added 22 points in Boston's third straight loss. Zach LaVine had 18 points and nine rebounds, Patrick Williams posted 15 points in his hometown, and Nikola Vucevic (nine rebounds) and Ayo Dosunmu each had 12 points. Norman Powell added 15 points for Los Angeles, with Robert Covington scoring 13 and Reggie Jackson and Ivica Zubac contributing 12 and 11 points, respectively.

☆ The Lacrosse Superstar Who Wants to Feed Steph Curry
▼ + stars: | 2023-01-26 | by ( Jason Gay | ) www.wsj.com time to read: 1 min

Pro basketball talent arrives from everywhere now. International players—Giannis! Nikola!—are some of the biggest names in the NBA. You have late bloomers who play four seasons of college, can’t miss sensations who leave for the draft lottery after one year, and some who skip it altogether, heading to overseas clubs or into a developmental program like the NBA’s G League. Pat Spencer is trying to make the NBA from a more unusual place:Lacrosse.

☆ NBA roundup: Damian Lillard scores 60, moves up 3-pointer list
▼ + stars: | 2023-01-26 | by ( ) www.reuters.com time to read: +7 min

Jerami Grant added 19 points and Anfernee Simons had 16 points and nine assists, which won its second game in a row. 76ers 137, Nets 133Tyrese Maxey scored 27 points, Joel Embiid added 26 points and 10 rebounds and host Philadelphia defeated Brooklyn. Rui Hachimura scored 12 points in his Lakers debut after he was acquired in a trade with the Washington Wizards on Monday. Pat Connaughton had 19 points and 12 rebounds and Khris Middleton added 10 points for the Bucks. Mathurin went for a game-high 26 points, but Banchero's Magic came out on top thanks to a strong start.

☆ Elon Musk is mulling over ways to whittle down some of his Twitter debt
▼ + stars: | 2023-01-26 | by ( Phil Rosen | ) www.businessinsider.com time to read: +5 min

And speaking of cold hard reality, the Wall Street Journal reported that Elon Musk is trying to raise fresh funds to pay off some of the pricier bits of his $13 billion Twitter loan. New fundraising to the tune of $3 billion could help Musk repay the obligations he took on in his Twitter takeover. For every quarter that goes by without refinancing, the interest rate goes up by an additional 0.50 percentage point, regulatory filings show. That said, if Twitter can pay back those unsecured bridge loans, meeting its debt obligations would be much more manageable. What are some ways you think Elon Musk could boost revenue at Twitter?

☆ 'Heartbreaking', Woodbridge bemoans Wimbledon doubles decision
▼ + stars: | 2023-01-26 | by ( ) www.reuters.com time to read: +2 min

MELBOURNE, Jan 26 (Reuters) - Nine-times Wimbledon men's doubles champion Todd Woodbridge said on Thursday it was "heartbreaking" to hear the All England Club had made the decision to cut the event to best-of-three sets rather than five from this year. "Five sets lets the best team win generally in that situation." Woodbridge won six Wimbledon men's doubles titles with compatriot Mark Woodforde in the duo known as the "Woodies" before teaming up with Swede Bjorkman for another three. American Mike Bryan, who with sibling Bob formed the most successful professional doubles team of all time, also bemoaned the decision. The 2022 Wimbledon men's doubles final took more than four hours to complete with Australian duo Matthew Ebden and Max Purcell beating Croatians Nikola Mektic and Mate Pavic over five sets.

☆ Hindenburg shorts India's Adani Group, flags debt and accounting concerns
▼ + stars: | 2023-01-25 | by ( ) www.reuters.com time to read: +3 min

The report, which comes days ahead of a $2.5 billion share offering by flagship firm Adani Enterprises (ADEL.NS), sent shares in Adani group firms sliding. It also said that seven Adani listed companies have an 85% downside on a fundamental basis due to what it called "sky-high valuations". Adani Chief Financial Officer Jugeshinder Singh told media on Jan. 21 "Nobody has raised debt concerns to us. Refinitiv data shows that debt at all the Adani Group's seven key listed Adani companies exceeds equity, with debt at Adani Green Energy Ltd (ADNA.NS) exceeding equity by more than 2,000%. Shares in Adani Enterprises surged 125% in 2022, while other group companies, including power and gas units, rose more than 100%.

☆ Hindenburg says holds short positions in India's Adani
▼ + stars: | 2023-01-25 | by ( ) www.reuters.com time to read: +2 min

BENGALURU, Jan 25 (Reuters) - Hindenburg Research said on Wednesday it holds short positions in Adani Group companies through U.S.-traded bonds and non-Indian-traded derivative instruments, sending shares of companies in the Indian conglomerate sliding. The company has repeatedly dismissed debt concerns. Adani Chief Financial Officer Jugeshinder Singh told media on Jan. 21 "Nobody has raised debt concerns to us. Shares in Adani Ports And Special Economic Zone (APSE.NS) slid 4.8% on Wednesday to their lowest level since mid-July while Adani Enterprises, the group's flagship company, dropped 2.5% to a 12-week low. Shares in Adani Enterprises surged 125% in 2022, while other group companies, including power and gas units, rose more than 100%.

Hindenburg, known for having shorted electric truck maker Nikola Corp (NKLA.O) and Twitter, said it holds short positions in Adani companies through U.S.-traded bonds and non-Indian-traded derivative instruments. Shares in Adani Transmission (ADAI.NS) fell 9%, Adani Ports And Special Economic Zone (APSE.NS) slipped 6.3% and Adani Enterprises ended down 1.5%. Adani Group's total gross debt in the financial year ended March 31, 2022, rose 40% to 2.2 trillion rupees. Refinitiv data shows debt at Adani Group's seven key listed Adani companies exceeds equity, with debt at Adani Green Energy Ltd (ADNA.NS) exceeding equity by more than 2,000%. Hindenburg also said it was concerned that a high proportion of equity held by promoters or key shareholders in Adani Group listed companies has been pledged for loans.

☆ Making America's semitrucks
▼ + stars: | 2023-01-25 | by ( Robert Ferris | In | ) www.cnbc.com time to read: +2 min

"Demand for trucks is, I would say, unprecedented," said David Carson, SVP of sales and marketing for Daimler Trucks North America. "We've seen an incredible demand going through Covid and continuing well into next year. Four companies dominate U.S. truck manufacturing: Daimler Trucks, Paccar, Volvo and Traton. Truck makers are spending billions to replace fuel-burning diesel engines with battery- and hydrogen-powered electric systems. Established truck makers, such as the more-than-century-old Daimler, are balancing keeping their particular and often extremely cost-sensitive customers happy in the present, while investing for an uncertain future.

☆ NBA roundup: Nikola Jokic, Nuggets edge Pelicans in final seconds
▼ + stars: | 2023-01-25 | by ( ) www.reuters.com time to read: +6 min

Mandatory Credit: Andrew Wevers-USA TODAY SportsJanuary 25 - Nikola Jokic had a triple-double and scored the winning basket with 16 seconds left as the visiting Denver Nuggets defeated the New Orleans Pelicans 99-98 on Tuesday night. Hernangomez made two free throws with 36 seconds left to give the Pelicans a 98-97 lead, but Jokic answered with a jump hook from the lane. Heat 98, Celtics 95Bam Adebayo had 30 points -- including the go-ahead jumper in the lane with 20.4 seconds left -- to lead host Miami over Boston. Adebayo also grabbed a game-high 15 rebounds as Miami won without its leading scorer, Jimmy Butler, who sat due to back stiffness. Mason Plumlee notched 17 points and Jalen McDaniels provided 15 points and 10 rebounds.

☆ Gautam Adani, Asia's richest man, slams short-seller Hindenburg's claims as 'baseless' and 'malicious'
▼ + stars: | 2023-01-25 | by ( Diksha Madhok | ) edition.cnn.com time to read: +4 min

Shares of Adani’s companies have surged in the last few years, making him Asia’s richest man. In 2021, shares in Adani’s companies tumbled after The Economic Times newspaper said that foreign funds that hold stakes worth billions of dollars were frozen by the country’s National Securities Depository. Its report on the Adani Group comes at a sensitive time. Later this week, Adani Enterprises, the conglomerate’s flagship company, is aiming to raise 200 billion rupees ($2.5 billion) by issuing new shares. Last year, CreditSights, a research firm owned by Fitch Group, published a report about Adani Group titled “Deeply Overleveraged” in which it expressed strong concerns about its debt-funded growth plans.

☆ Explainer: Who is behind Hindenburg, the company that is shorting Adani?
▼ + stars: | 2023-01-25 | by ( Carolina Mandl | ) www.reuters.com time to read: +3 min

NEW YORK, Jan 25 (Reuters) - Short-seller Hindenburg Research disclosed on Wednesday short positions in India's Adani Group, citing potential stock manipulation and accounting fraud in a report. WHAT IS HINDENBURG RESEARCHFounded in 2017 by Nathan Anderson, Hindenburg Research is a forensic financial research firm which analyses equity, credit and derivatives. On its website, Hindenburg says it looks for "man-made disasters," such as accounting irregularities, mismanagement and undisclosed related-party transactions. After finding potential wrongdoings, Hindenburg usually publishes a report explaining the case and bets against the target company, hoping to make a profit. HOW MANY COMPANIES HAS HINDENBURG TARGETEDHindenburg has flagged potential wrongdoing in at least 16 companies since 2017, according to its website.

☆ Tesla invests $3.6 bln to expand Nevada complex with two factories
▼ + stars: | 2023-01-24 | by ( ) www.reuters.com time to read: +2 min

Jan 24 (Reuters) - Tesla Inc (TSLA.O) said on Tuesday it would invest more than $3.6 billion to expand its Nevada manufacturing complex with two new factories, including the first facility to mass produce its long-delayed Semi electric truck. The 18-wheeler truck has a range of 500 miles on a single charge and can carry 81,000 pounds including the cargo. Tesla Chair Robyn Denholm said in November that Tesla might produce 100 Semis in 2022, but the company did not disclose any figure in its fourth-quarter production report. The EV maker aims to produce 50,000 of the trucks in 2024, Musk had said on a post-earnings call in October. Reporting by Akash Sriram and Aditya Soni in Bengaluru; Editing by Devika SyamnathOur Standards: The Thomson Reuters Trust Principles.

☆ NBA roundup: Jalen Green, Rockets end 13-game skid
▼ + stars: | 2023-01-24 | by ( ) www.reuters.com time to read: +6 min

Alperen Sengun added 21 points, seven rebounds and seven assists as Houston ended a 10-game homecourt skid. Brook Lopez had 21 points, Bobby Portis logged 18 points and 10 rebounds and Jevon Carter also scored 18 points for the Bucks. Patrick Williams had a double-double of 18 points and 10 rebounds, while Alex Caruso (12 points) and Coby White (10) also finished in double figures for Chicago. Trae Young paced Atlanta with 21 points and 13 assists, joining Clint Capela (16 points, 12 rebounds) with a double-double. Jordan Clarkson added 18 points for Utah, which has won three of its past four.

☆ NBA roundup: Thunder win on Shai Gilgeous-Alexander's late shot
▼ + stars: | 2023-01-23 | by ( ) www.reuters.com time to read: +6 min

Nnaji was fouled on an offensive rebound and hit two free throws to tie it at 99-all with 30.2 seconds left before Gilgeous-Alexander's late heroics. Clippers 112, Mavericks 98Kawhi Leonard had 30 points and nine rebounds, and visiting Los Angeles dominated the fourth quarter in a win over Dallas. Paul George scored 21 points and Norman Powell added 19 for Los Angeles, which outscored the Mavericks 33-19 in the final period. New Orleans' CJ McCollum took a 3-pointer with 7.6 seconds left that would've given the Pelicans a 99-98 lead, but the shot missed off the front of the rim. Dennis Schroder added 24 points, eight assists and six rebounds as Los Angeles won its second straight game.

☆ NBA roundup: Lakers rally, end Grizzlies' 11-game win streak
▼ + stars: | 2023-01-21 | by ( ) www.reuters.com time to read: +7 min

Ja Morant scored 22 points while Brandon Clarke and Tyus Jones added 20 points each for the Grizzlies. Paul George chipped in 16 points and 12 assists, Marcus Morris Sr. scored 15 points and Ivica Zubac racked up 12 points and 16 rebounds. Murray finished with 29, going 14-for-25 from the field and adding 12 assists to record his sixth double-double of the season. Domantas Sabonis contributed 18 points, 14 assists and 14 rebounds as Sacramento notched its sixth straight victory, one shy of its season high. Gilgeous-Alexander also had seven assists but couldn't prevent the end of the Thunder's four-game winning streak.

☆ Basketball’s Best Passer Understands the Art of Letting Go
▼ + stars: | 2023-01-20 | by ( Robert O'Connell | ) www.wsj.com time to read: 1 min

Early in Wednesday night’s game against the Minnesota Timberwolves, Nikola Jokic caught a pass from his teammate, Kentavious Caldwell-Pope. Or, rather, Jokic touched the ball for a moment, hardly letting it come to rest before flipping it back again. A Minnesota defender had turned his head as Caldwell-Pope snuck to the rim; Jokic’s return-to-sender package met him there, and Caldwell-Pope laid it in. Alongside a retooled supporting cast, Jokic has averaged a career-high 9.9 assists per game. His distribution animates basketball’s second-best offense, an attack that has the Nuggets at the top of the Western Conference.

☆ NBA roundup: Grizzlies edge Cavs for 11th straight win
▼ + stars: | 2023-01-19 | by ( ) www.reuters.com time to read: +6 min

Jaden McDaniels put up 18 points for the Timberwolves, who lost their second game in a row. Kevin Huerter scored 18 points for the Kings, who went down by 14 points in the first quarter before pushing ahead by halftime. Andrew Nembhard produced 18 points and seven assists for the Pacers, who have dropped five consecutive games. Murray was 12-for-18 from the field and added seven rebounds and four assists. Jalen Green matched his career high with 41 points and added seven assists for the Rockets, who lost their 12th game in a row.

☆ NBA roundup: Nuggets best Blazers on Nikola Jokic's triple-double
▼ + stars: | 2023-01-18 | by ( ) www.reuters.com time to read: +4 min

Damian Lillard scored 44 points -- the third time in four games he put up 40 or more -- for the Trail Blazers, who have lost eight straight road games. The Sixers topped 110 points for the 15th consecutive game, doing so even with James Harden limited to six points on 1-of-6 shooting. Terance Mann and Ivica Zubac each scored 12 points for the Clippers, who finished 2-3 in a run of five consecutive home games. Bobby Portis recorded his 27th double-double of the campaign with 12 points and 12 rebounds for Milwaukee, which played its fourth consecutive game without Giannis Antetokounmpo (knee). Brooklyn took its third straight loss despite getting a triple-double -- 10 points, 10 rebounds and 11 assists -- from Ben Simmons.

☆ As latest short squeeze unfolds on Wall Street, here's what that means and who could be next
▼ + stars: | 2023-01-12 | by ( Samantha Subin | ) www.cnbc.com time to read: +4 min

Traders are once again piling into stocks with high levels of short interest, and several companies could prove the next targets of the latest frenzy unfolding on Wall Street. As another short squeeze unfolds now on Wall Street, CNBC Pro used FactSet data to search for the next potential candidates. Silvergate's short interest as a percent of float recently stood at nearly 61%, the highest among all the stocks included in the screen. Popular online used car retailer Carvana has 58% of shares sold short. Beyond Meat and Weber are two other potential short squeeze contenders that sold off sharply in 2022, with about 40% and 32.4% of their respective shares sold short.

☆ NBA roundup: Bucks survive scare, finally solve Hawks
▼ + stars: | 2023-01-12 | by ( ) www.reuters.com time to read: +6 min

Jaren Jackson Jr. (21 points, 12 rebounds) and Steven Adams (11 points, 18 rebounds) recorded double-doubles. Jakob Poeltl (17 points, 12 rebounds) added his ninth double-double of the season. Bojan Bogdanovic supplied 27 points, six rebounds and four assists, while Killian Hayes had 18 points and nine assists. Jaden Ivey contributed 18 points and eight assists and Hamidou Diallo also scored 18 points. Immanuel Quickley scored 11 points off the bench for the Knicks, who have won five of their last six games overall.

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