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☆ Hindenburg Research targets $4.6 billion Kazakh brokerage for allegedly helping Russian oligarchs evade sanctions
▼ + stars: | 2023-08-15 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +3 min

Timur Turlov, CEO of Freedom Finance brokerage speaks to Reuters during the interview in the office in Moscow, Russia October 10, 2019. Freedom Holding Corp. was founded in Moscow in 2008, before later moving to Kazakhstan, and listed on the Nasdaq in 2019. After Russia invaded Ukraine early last year, U.S. sanctions essentially severed ties between American and Russian banks and companies. But according to a report from Hindenburg on Tuesday, those ties remain tight. One former senior executive alleged to Hindenburg that Russian money laundering was rampant.

Persons: Timur Turlov, Jack Dorsey's Block, Carl Icahn, Freedom, Hindenburg's, Hindenburg, OFAC, I've Organizations: Freedom Finance, Reuters, Hindenburg Research, Freedom Holding, Nasdaq, Freedom, noncompliance, U.S . Treasury Department's, Foreign Assets, SEC, European Union, Freedom's, Ukraine Locations: Moscow, Russia, Kazakhstan, Ukraine, Hindenburg, Russian, United Kingdom, Belizean

[1/2] A bird flies past the new logo of the Securities and Exchange Board of India (SEBI) at its headquarters in Mumbai, India, April 19, 2023. REUTERS/Francis Mascarenhas/File PhotoAug 14 (Reuters) - India's market regulator has sought 15 more days to complete its probe into the Adani group's dealings, it said in a filing before the country's Supreme Court. SEBI has sought more information from other regulators and foreign jurisdictions to plan a further course of action. The group's listed companies lost more than $100 billion in market value earlier this year after U.S.-based Hindenburg Research raised several governance concerns. Reporting by Jayshree P Upadhyay in Mumbai; Editing by Savio D'Souza and Jacqueline WongOur Standards: The Thomson Reuters Trust Principles.

Persons: Francis Mascarenhas, SEBI, Jayshree, Savio D'Souza, Jacqueline Wong Organizations: Securities and Exchange Board of India, REUTERS, The Securities, Exchange Board of India, Hindenburg Research, Thomson Locations: Mumbai, India

☆ India's Adani group stocks hit by first auditor quitting over Hindenburg report
▼ + stars: | 2023-08-14 | by ( ) www.reuters.com time to read: +2 min

Traffic moves past the logo of the Adani Group installed at a roundabout on the ring road in Ahmedabad, India, February 2, 2023. Adani Ports said Deloitte, which does not audit any of the other six listed Adani group companies, had all the necessary information and its reason to quit was "not convincing." "The spotlight is back on Adani Group stocks and this time the auditor has raised concerns and resigned. The flagship Adani Enterprises (ADEL.NS) dropped 5.5%, while Adani Power (ADAN.NS), Adani Energy Solutions (ADAI.NS), Adani Wilmar (ADAW.NS), Adani Green Energy (ADNA.NS) and Adani Total Gas (ADAG.NS) declined between 3% and 5%. "In the near term, the Adani group stocks will likely remain under pressure and any re-rating will happen gradually when the water settles down."

Persons: Amit Dave, Hindenburg, Gautam Adani, Prashant Tapse, Adani, Avinash Gorakshakar, Rama Venkat, Savio D'Souza Organizations: Adani, REUTERS, Deloitte, Reuters, Adani Ports, Mehta, Adani Enterprises, Adani Energy Solutions, Energy, Profitmart Securities, Associates, BDO International, Thomson Locations: Ahmedabad, India, BENGALURU, Bengaluru

The Deloitte company logo is seen at their office in Gurugram, India, June 13, 2023. The auditor's resignation has brought fresh scrutiny of the financial management at Adani Group, led by Indian billionaire Gautam Adani. "The Audit Committee (of Adani Ports) was of the view that the grounds advanced by Deloitte for resignation as Statutory Auditor were not convincing or sufficient to warrant such a move," it said. Adani Ports has named MSKA & Associates, an independent member firm of BDO International, as its new auditor, it said in the statement. Deloitte in May first pointed to certain transactions flagged by Hindenburg in its report and gave only a qualified opinion related to Adani Ports, indicating concerns by a company's auditor.

Persons: Anushree, Gautam Adani, Hindenburg, Aditya Kalra, Ros Russell Organizations: Deloitte, REUTERS, U.S, Adani Group, GQG Partners, Sanghi Industries, Associates, BDO International, Thomson Locations: Gurugram, India, Adani Ports, Australia, New Delhi

REUTERS/Anushree Fadnavis/File PhotoNEW DELHI, Aug 11 (Reuters) - Deloitte has decided to resign as auditor of India's Adani Ports (APSE.NS) amid concerns over certain transactions flagged in a report by Hindenburg, which the company did not wish to independently look into, a source with direct knowledge said. Deloitte in May had pointed to certain transactions flagged by the U.S. short-seller in its report and gave only a qualified opinion, which indicates concerns by a company's auditor. Deloitte's resignation comes after it asked Adani Ports to conduct an independent inquiry on related party transactions flagged by Hindenburg, to which the company did not agree, the source said. Deloitte and Adani Ports did not immediately respond to Reuters' requests for comments. Deloitte's decision to quit as Adani Ports' auditor might come as soon as Monday, the source added.

Persons: Anushree, Hindenburg, Adani, Gautam Adani, Aditya Kalra, Sethuraman, Varun Organizations: Deloitte, REUTERS, May, U.S, Adani, Bloomberg News, Sethuraman NR, Thomson Locations: Gurugram, India, India's Adani, New Delhi, Bengaluru

☆ Adani Enterprises weighs exiting $6 bln Wilmar venture - Bloomberg News
▼ + stars: | 2023-08-09 | by ( ) www.reuters.com time to read: +1 min

Workers transport tins of edible oil inside a storeroom of Adani Wilmar Ltd at Mundra, 375 km (233 miles) from the western Indian city of Ahmedabad, June 10, 2009. REUTERS/Amit Dave/File PhotoAug 8 (Reuters) - India's Adani Enterprises (ADEL.NS) is exploring selling its stake in its consumer-staple joint venture with Wilmar International (WLIL.SI), Bloomberg News reported on Tuesday, citing people familiar with the matter. Deliberations are at an early stage and Adani Enterprises may decide to keep its stake, the report said. Adani Enterprises and Wilmar did not respond to Reuters requests for comment, while Adani Wilmar said it would not like to comment on the report. Last week, Adani Wilmar reported loss in the first quarter, hurt by a steep decline in edible oil prices.

Persons: Wilmar, Amit Dave, Adani, Gautam Adani, Adani Wilmar, Shubhendu Deshmukh, Shounak Dasgupta, Shilpi Majumdar Organizations: REUTERS, Adani Enterprises, Wilmar, Bloomberg, Adani, Hindenburg, Thomson Locations: Mundra, Indian, Ahmedabad, India, Bengaluru

A partial counterweight to Apple for the S&P 500 and Nasdaq was Amazon.com. Amazon's rise were an 11-point positive for the S&P 500. Reuters GraphicsAverage hourly earnings rose 0.4% in July, unchanged from the previous month, exceeding expectations, taking the year-on-year increase in wages to 4.4%. DraftKings' (DKNG.O) shares rose 5.8% after the sports-betting firm raised its fiscal year 2023 revenue outlook. The S&P 500 posted 19 new 52-week highs and 11 new lows; the Nasdaq Composite recorded 54 new highs and 91 new lows.

Persons: dents, jitters, Said Greg Bassuk, Brendan McDermid, Carl Icahn, DraftKings, Echo Wang, Shubham Batra, Bansari, Savio D'Souza, Shounak Dasgupta, Shinjini Ganguli, Louise Heavens, David Gregorio Our Organizations: Companies, Apple, Dow, Nasdaq, AXS Investments, Treasury, Labor Department, Reuters, New York Stock Exchange, REUTERS, Microsoft, Dow Jones, Icahn Enterprises, Hindenburg, NYSE, Thomson Locations: New York, Ukraine, China, New York City, U.S, Bengaluru

The yield on the 10-year benchmark note dipped on Friday after the jobs data, but still remained above 4%, partly boosting some megacap stocks. "At this point in some ways the jobs data doesn't do much to the Fed. Giving solid boost to the S&P 500 index, Amazon.com shares (AMZN.O) surged 10.9% after the company issued an upbeat third-quarter outlook. Of the 422 companies in the S&P 500 that have reported quarterly earnings as of Friday, 79.1% have beat analysts' estimates, according to Refinitiv data. Amgen (AMGN.O) gained 6.2% after it reported a higher quarterly profit on strong sales of its cholesterol, osteoporosis and other drugs.

Persons: Brendan McDermid, David Russell, Stocks, Carl Icahn, DraftKings, Shubham Batra, Bansari, Savio D'Souza, Shounak Dasgupta, Shinjini Organizations: New York Stock Exchange, REUTERS, Apple, Dow, Nasdaq, Labor Department, Data, Reuters, Fed, Treasury, Microsoft, Dow Jones, Icahn Enterprises, Hindenburg, NYSE, Thomson Locations: New York City, U.S, Bengaluru

REUTERS/Brendan McDermid/File photoAug 4 (Reuters) - Nikola (NKLA.O) on Friday named its fourth CEO in as many years as the electric truck maker navigates a host of challenges including dwindling cash reserves, lingering supply chain snags and a pivot to hydrogen fuel cell technology. The Tre battery-electric trucks maker forecast third-quarter revenue of $18 million to $28 million, compared with estimates of $34.5 million, according to Visible Alpha. Nikola's investors approved a proposal that will allow the truck maker to issue more shares to raise funds. Milton stepped down as CEO in 2020 after short-seller Hindenburg issued a scathing report that labeled Nikola a "fraud." Separately, Nikola reported a narrower second-quarter loss as lower production of its Tre battery-electric trucks in the April-June period helped keep costs in check.

Persons: Stephen Girsky, Brendan McDermid, Nikola, Michael Lohscheller, Trevor Milton, Milton, Hindenburg, Romeo Power, Akash Sriram, Anil D'Silva Organizations: VectolQ, Reuters, of Autonomous Vehicles, REUTERS, General Motors, EV, Lordstown Motors, Thomson Locations: New York City, U.S, Phoenix , Arizona, Bengaluru

Billionaire activist-investor Carl Icahn gives an interview on FOX Business Network's Neil Cavuto show in New York February 11, 2014. REUTERS/Brendan McDermid/File PhotoAug 4 (Reuters) - Carl Icahn-owned investment firm Icahn Enterprises (IEP.O) on Friday halved its quarterly payout, months after short-seller Hindenburg Research accused it of operating a "Ponzi-like" structure to pay dividends. Hindenburg said on Friday it remained short on the company, in a post on messaging platform X, formerly known as Twitter. "Icahn Enterprises will eventually cut or eliminate its dividend entirely, barring a miracle turnaround in investment performance," Hindenburg said when it had announced its short position. "We do not intend to let a misleading Hindenburg report interfere with this practice (of distributing dividends)," Icahn Enterprises said in a statement.

Persons: Carl Icahn, Neil Cavuto, Brendan McDermid, Hindenburg, Icahn, Niket, Milla Nissi Organizations: FOX Business, REUTERS, Icahn Enterprises, Hindenburg, Enterprises, Thomson Locations: New York, Bengaluru

☆ Carl Icahn's investment firm cuts dividend months after Hindenburg report
▼ + stars: | 2023-08-04 | by ( ) www.reuters.com time to read: 1 min

Billionaire activist-investor Carl Icahn gives an interview on FOX Business Network's Neil Cavuto show in New York February 11, 2014. REUTERS/Brendan McDermid/File PhotoAug 4 (Reuters) - Icahn Enterprises (IEP.O) on Friday said it would cut its dividend payout months after short seller Hindenburg Research accused the investment firm of operating a "Ponzi-like" structure to pay dividends. The investment firm, owned by Carl Icahn, said it would distribute $1 per depositary unit to its investors, lower than its usual quarterly dividend of $2 per unit. Shares of Icahn Enterprises fell 24% in premarket trading. Reporting by Niket Nishant in Bengaluru; Editing by Milla NissiOur Standards: The Thomson Reuters Trust Principles.

Persons: Carl Icahn, Neil Cavuto, Brendan McDermid, Niket, Milla Nissi Organizations: FOX Business, REUTERS, Icahn Enterprises, Hindenburg, Thomson Locations: New York, Bengaluru

☆ Carl Icahn’s company stock drops 23% after IEP slashes quarterly dividend in half
▼ + stars: | 2023-08-04 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Icahn's company has been on a roller-coaster ride since the Nathan Anderson-led short seller took a public short position in May, alleging "inflated" asset valuations, among other reasons. Shares of IEP, a holding company that is involved in myriad businesses including energy, automotive and real estate, tumbled nearly 44% in the second quarter. Shares of Carl Icahn's conglomerate Icahn Enterprises experienced a sharp sell-off Friday after the firm slashed its quarterly dividend in half amid notable short seller Hindenburg Research's campaign. Hindenburg took issue with IEP's high dividend yield, saying it's "unsupported" by the company's cash flow and investment performance. Icahn Enterprises on Friday reported a net loss of $269 million for the second quarter, more than doubling the loss of $128 million from the same quarter a year ago.

Persons: Nathan Anderson, Carl Icahn's, Hindenburg, Icahn Organizations: Icahn Enterprises, Enterprises, Trans, Airlines

☆ Shares of Carl Icahn’s Firm Tank After Dividend Is Cut
▼ + stars: | 2023-08-04 | by ( Maureen Farrell | More About Maureen Farrell | ) www.nytimes.com time to read: +1 min

Shares of Icahn Enterprises, the firm led by the billionaire financier Carl C. Icahn, fell as much as 30 percent on Friday after the saber-rattling investor, under pressure from a short seller, said his firm would halve its quarterly dividend and refocus on the style of activist investing that brought him his fame and fortune. The announcement comes three months after Hindenburg Research, the short seller, released a report questioning the financials of Icahn Enterprises, and whether it had the wherewithal to continue paying a dividend to shareholders. Hindenburg, led by Nathan Anderson, accused Mr. Icahn’s firm of running “Ponzi-like economic structures.” Short sellers profit when stock prices fall. The plunging stock price of Icahn Enterprises is the latest setback for the 87-year-old investor who, for more than four decades, has taken on publicly traded companies and pressured their chief executives to make changes. Including the drop on Friday, shares of Mr. Icahn’s firm are down roughly 50 percent since Hindenburg released its report on May 2.

Persons: Carl C, Nathan Anderson, Mr, Icahn’s, Hindenburg Organizations: Icahn Enterprises, Hindenburg Research, Mr

☆ Stocks making the biggest moves midday: Amazon, Apple, Block, Tupperware and more
▼ + stars: | 2023-08-04 | by ( Alex Harring | ) www.cnbc.com time to read: +6 min

Apple reported earnings per share for the fiscal third quarter of $1.26, 7 cents more than expected by analysts polled by Refinitiv. The company posted adjusted earnings of $37.62 per share on revenue of $5.46 billion in the second quarter. Fortinet posted 38 cents in adjusted earnings per share, while analysts polled by Refinitiv expected 34 cents per share. Dropbox posted 51 cents in adjusted earnings per share, while analysts surveyed by Refinitiv anticipated 46 cents. The company reported adjusted earnings per share of 18 cents Thursday, topping the 10 cents expected from analysts polled by StreetAccount.

Persons: Tupperware, Carl Icahn's, Hindenburg, Jack Dorsey, Nikola —, Nikola, Fortinet, Refinitiv, Opendoor, DraftKings, Dropbox, Sprout, Raymond James, —, Samantha Subin, Hakyung Kim, Pia Singh, Michelle Fox, Yun Li Organizations: Apple, Refinitiv, Revenue, Holdings, Icahn, Fortinet, Technologies, Refinitiv . Revenue, Tagger Media, Exchange, Citi, StreetAccount, Petrobras —, JPMorgan Locations: U.S, Canada

☆ Bain to buy 90% stake in Adani Capital and Adani Housing
▼ + stars: | 2023-07-23 | by ( Akanksha Khushi | ) www.reuters.com time to read: +2 min

July 23 (Reuters) - U.S.-based investment firm Bain Capital said on Sunday that it has entered into an agreement to acquire 90% of Adani Capital and Adani Housing, buying out all of the Adani family's private investments in the company. Gaurav Gupta will retain the remaining 10% stake in Adani Capital and will continue to serve as its Managing Director and CEO, Bain said. Adani Capital is the non-banking financial arm of the Adani group which started its lending operations in 2017. The transaction, which is expected to close in the fourth quarter of this year, aims to position Adani Capital as a standalone company to expand lending, Bain said. Adani group stocks have recovered by around $50 billion since the Hindenburg-triggered stock rout early this year after Gautam Adani assured investors and repaid debt.

Persons: Gaurav Gupta, Bain, Gautam Adani, Gupta, Akanksha, Hugh Lawson, Andrea Ricci Organizations: Bain Capital, Adani, Hindenburg, Bain, Thomson Locations: Gautam, Bengaluru

☆ India is said to be an 'oasis' in the desert. Here are some sectors to watch for
▼ + stars: | 2023-07-21 | by ( Charmaine Jacob | ) www.cnbc.com time to read: +8 min

Major economies were hit by higher inflation during the Covid-19 pandemic, but India's inflation was already elevated. In June, India's inflation rate was 4.81%, which remains within the Reserve Bank of India's tolerance band of 2% to 6%. There is a paradigm shift and flight of capital from Indian households savings to equity to contribute to the India growth story," Azeez told CNBC's "Squawk Box Asia" last week. "So whichever way one looks at the economic numbers, India appears as an oasis in the global desert," he added. watch nowHowever, Matthew Asia's Mittal said that instead of buying into pharmaceutical companies, upstream companies such as Syngene will be a good investment opportunity.

Persons: Goldman Sachs, Darren Robb, Feroze Azeez, Anand, Azeez, CNBC's, Nifty, it'll, Soumya Rajan, Peeyush Mittal, Nilesh Shah, Shah, Financials, Rajan, Waterfield's Rajan, We've, we've, Hindenburg, Matthews, Mittal, India's, Nestle, Kotak's Shah, Punit Paranjpe, Matthew Asia's Mittal Organizations: Bank, Getty, Wealth, Reserve Bank, Monetary Fund, Waterfield, Matthews Asia, CNBC, Mahindra Asset Management, IDFC, IDFC Ltd, HDFC Bank, Housing Development Finance Corporation, India's HDFC Bank, ICICI Bank, Bajaj Finance, Mahindra Finance, Nestle, World Bank, Nurphoto, Hindustan Unilever, Britannia Industries, Manufacturing Global, Godrej Aerospace, Afp Locations: India, United Kingdom, Japan, Mumbai, China, Nestle India, LuLu, Lulu, Kerala

Speaking at the Adani Enterprises' annual general meeting, Adani said the Hindenburg short-seller report was a "deliberate and malicious attempt aimed at damaging our reputation and generating profits through a short-term drive-down of our stock prices." "While the Securities and Exchange Board of India is still to submit its report, we remain confident of our governance and disclosure standards," billionaire Adani said. The short-seller report had also forced Adani Enterprises to shelve its key $2.5 billion share sale in February. Adani Enterprises shares climbed over 4% on Tuesday, while Adani Transmission (ADAI.NS) and Adani Green Energy (ADNA.NS) rose 4.7% and 5.7%, respectively. He also added that Adani Ports (APSE.NS), in the next 12-24 months, will commission India's largest transshipment hub.

Persons: Gautam Adani, Adani, Chris Thomas, Nallur, Savio D'Souza, Nivedita Organizations: U.S, Adani Enterprises, Securities and Exchange Board, Green Energy, Thomson Locations: BENGALURU, India, Bengaluru

☆ India's Adani confident of governance and disclosure standards, chairman says
▼ + stars: | 2023-07-18 | by ( ) www.cnbc.com time to read: +1 min

Signage of Adani Group at Adani Defence and Aerospace booth during the Aero India 2023 at Air Force Station Yelahanka in Bengaluru, India, on Monday, Feb. 13, 2023. India's Adani Group is confident of its governance and disclosure standards after a top court panel found no lapses at the conglomerate, its chairman said on Tuesday, while detailing the fallout of a U.S. short-seller's scathing report that jolted its stocks. The panel report "confirmed the quality of our group's disclosures and found no instance of any breach," Adani Chairman Gautam Adani said in his first comments on the findings, in a shareholder address at Adani Enterprises' annual general meeting. "While SEBI is still to submit its report, we remain confident of our governance and disclosure standards, Adani said, referring to the Securities and Exchange Board of India. Adani Enterprises shares climbed over 4% on Tuesday.

Persons: India's, Gautam Adani, Adani, SEBI, Hindenburg Organizations: Adani Defence, Aerospace, Aero, Air Force, Adani Enterprises, Securities and Exchange Board of India, Adani Group Locations: Bengaluru, India

☆ India's Adani mulls bidding for Anil Ambani's bankrupt coal plants, Bloomberg reports
▼ + stars: | 2023-07-11 | by ( ) www.reuters.com time to read: +1 min

July 11 (Reuters) - Indian billionaire Gautam Adani is considering a bid for the bankrupt coal-fired power plants belonging to industrialist Anil Ambani, Bloomberg News reported on Tuesday, citing people familiar with the matter. Ambani's Reliance Power Ltd (RPOL.NS) will also likely make an offer to win back control of the firm, the report added. Last week, Adani Green Energy Ltd (ADNA.NS) approved raising 123 billion rupees ($1.49 billion), while two other Adani group companies - Adani Transmission (ADAI.NS) and Adani Enterprises (ADEL.NS) - had in May outlined plans to raise funds totalling $2.57 billion. Adani's bids are aimed at strengthening the company's growing portfolio of coal power projects, the report said. Adani Enterprises or Reliance Power did not immediately respond to a Reuters' request for comment.

Persons: Gautam Adani, Anil Ambani, Ambani, Adani, Jose Joseph, Kashish Tandon, Sohini Goswami Organizations: Bloomberg, Vidarbha Industries Power Ltd, Ambani's Reliance Power, Green Energy Ltd, Adani Enterprises, Hindenburg Research, Reliance, Thomson Locations: Vidarbha, Nagpur, Maharashtra, Bengaluru

☆ Stocks making the biggest moves midday: Carvana, Icahn Enterprises, Novavax, Fisker and more
▼ + stars: | 2023-07-10 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

Carvana — Shares soared 10% in midday trading. The company said on Monday it expected exponential growth within its used electric vehicle segment as consumer demand for EVs skyrocket. Lucid — The luxury electric vehicle company added 3.4%. Fisker — Fisker rose 2% after the electric vehicle maker said it's issuing a $340 million convertible note offering. On Friday, the company disclosed in a securities filing that it would receive $350 million from Canada for unused Covid-19 vaccines.

Persons: EVs skyrocket, Morgan Stanley, Jefferies, DraftKings, Carl Icahn's, Fisker, Jesse Pound, Sarah Min, Yun Li, Samantha Subin Organizations: EVs, Shockwave, JPMorgan, Cava, Icahn Locations: Cava, Canada

☆ Icahn unties personal loans from his investment firm's share price, shares jumps
▼ + stars: | 2023-07-10 | by ( ) www.reuters.com time to read: +2 min

July 10 (Reuters) - Billionaire activist investor Carl Icahn has amended the terms of his personal loans to separate them from the price of Icahn Enterprises' (IEP.O) depositary units, the investment firm disclosed in a filing on Monday. The move comes months after short-seller Hindenburg's criticism triggered a massive fall in the shares of his investment company. Icahn and its affiliates have entered into a three-year loan agreement with banks, including Bank of America, N.A. In the amended loan agreement, Icahn will provide additional collateral of $2 billion from his personal funds and 320 million IEP shares. It also said IEP units were inflated by more than 75%.

Persons: Carl Icahn, Icahn, Hindenburg, Jaiveer Shekhawat, Niket, Gursimran Kaur, Dhanya Ann Thoppil, Pooja Desai Organizations: Billionaire, Icahn Enterprises, Bank of America, Bank of Montreal, Deutsche Bank AG, Thomson Locations: Bengaluru

☆ Applied Digital shares tumble after Wolfpack Research takes short position
▼ + stars: | 2023-07-06 | by ( ) www.reuters.com time to read: +1 min

July 6 (Reuters) - Shares of Applied Digital (APLD.O) slumped on Thursday after Wolfpack Research disclosed a short position in the digital infrastructure company and accused it of "an embarrassing and predictable stock promotion." Insiders at B Riley hold a 48.4% stake in Applied Digital and will exit their position as it becomes clear that the company's claims "make no sense," Wolfpack alleged. The short-seller said Stability AI, Applied Digital's biggest prospective AI customer, was also "dubious." Applied Digital, Stability AI and B Riley did not immediately respond to Reuters' requests seeking comment. Dallas, Texas-based Applied Digital is the latest target in a series of short-seller attacks that have shaken corporate America this year.

Persons: Riley, Carl Icahn's, Pritam Biswas, Maju Samuel Organizations: Applied Digital, Wolfpack Research, Wolfpack, Reuters, Riley, Applied, Hindenburg Research, Icahn Enterprises, Thomson Locations: Dallas , Texas, America, Bengaluru

☆ India's Adani Green to raise $1.5 bln in green energy push
▼ + stars: | 2023-07-06 | by ( ) www.reuters.com time to read: +1 min

July 6 (Reuters) - India's Adani Green Energy (ADNA.NS), controlled by billionaire Gautam Adani,said on Thursday it approved raising 123 billion rupees ($1.49 billion) through qualified institutional placement. The renewables company will use the funds to diversify its green energy supply in the country, Bloomberg had reported earlier in the day, citing sources familiar with the matter. The company plans to expand its green energy capacity by about 3 gigawatts this fiscal year, spending around 140 billion rupees ($1.70 billion), its finance chief Phuntsok Wangyal had said in May. In May, two other Adani group companies - Adani Transmission (ADAI.NS) and Adani Enterprise (ADEL.NS) - outlined plans to raise up to $2.57 billion after a U.S. short-seller's critical report in January battered investor confidence. Adani Energy's shares alone have halved in value so far this year.

Persons: Gautam Adani, Phuntsok Wangyal, Hindenburg, Adani, Adani Energy's, Indranil Sarkar, Urvi, Nivedita Bhattacharjee, Eileen Soreng, Savio D'Souza Organizations: Energy, Bloomberg, Adani, Thomson Locations: Bengaluru

☆ The top 500 richest people in the world made an average of $14 million each day in the first half of 2023 as markets rallied
▼ + stars: | 2023-07-04 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

The 500 richest people added $852 billion to their collective fortunes in the first half of this year, per Bloomberg. The billionaires' wealth was boosted on the back of a broad market rally. Now worth $237 billion, Musk is the world's richest person — ahead of Frenchman Bernard Arnault, the CEO, and co-founder of LVMH Moët Hennessy Louis Vuitton. Musk and Arnault have been swapping positions as the world's richest person since late 2022. Indian tycoon Gautam Adani's fortune tanked by $60.2 billion this year, making him the biggest loser in the Bloomberg Billionaires Index.

Persons: Tesla, Elon Musk, —, Mark Zuckerberg, Musk, Twitter —, Frenchman Bernard Arnault, LVMH Moët Hennessy Louis Vuitton, Zuckerberg, Gautam Adani's, Adani Organizations: Bloomberg, SpaceX, Service, Tech, Twitter, Hindenburg Research, Nasdaq

☆ Five Nikola electric trucks catch fire at Phoenix headquarters, company says ‘foul play suspected’
▼ + stars: | 2023-06-23 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +2 min

CNN —Nikola, a startup company that makes electric and hydrogen-powered semi trucks, said in a tweet Friday morning that several of its trucks had been damaged in a fire at the company’s Phoenix, Arizona headquarters. “Foul play is suspected as a vehicle was seen in the area of the affected trucks just prior to the incident and an investigation is underway,” the tweet said. A Nikola spokesperson reached by CNN said more information would be released as it became available. The first report of a fire was around 4:30 am MT, Phoenix Fire Department captain Todd Keller said. The trucks were among more than 30 stored at the headquarters facility, Keller said.

Persons: CNN — Nikola, Todd Keller, Keller, Nikola Organizations: CNN, Nikola, Phoenix Fire Department, Phoenix, Hindenburg Research Locations: Phoenix , Arizona

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