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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.
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.
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.
22 Unique Valentine’s Gifts for Men Who Have Everything
  + stars: | 2022-12-19 | by ( ) www.wsj.com   time to read: +12 min
From the cocktail gadget that will level-up his drinks to the ultimate undershirts, these are presents you can purchase with confidence—no gift receipt required. This edition has a wood cabinet with metal plaques, die-cast metal houses and hotels, gold-foil stamping and money-holding drawers. Buy Side’s favorite automatic cocktail maker works with pre-measured pods and his favorite spirits to dispense cocktails at the push of a button. For more great gadget ideas, check out our roundup of the top gifts for your favorite techie. Even better, the jean material “came ready-to-wear with no awkward break-in period, plus a custom liner.”—Additional reporting by Leslie Yazel
He has since given high-profile interviews to state media and on Monday appeared on stage at a political event as he joined an ultranationalist party. Viktor Bout on a plane in Abu Dhabi before departing for Russia on Thursday. Russian media also showed him walking off a plane in Moscow, where relatives waiting with flowers embraced him. AFP - Getty ImagesSince his return home, Bout has given a pair of interviews to Maria Butina on the state-run TV channel RT. Like Butina, who was elected to the State Duma last year, Bout spared no time kicking off a potential political career.
Coca-Cola is getting into Christmas movies
  + stars: | 2022-12-07 | by ( Danielle Wiener-Bronner | ) edition.cnn.com   time to read: +4 min
The venture is a continuation of Coca-Cola’s Real Magic platform, which takes an experimental approach to marketing the company’s core product. The Christmas Anthology is part of a new platform called Real Magic Presents. Coca-Cola has a history of associating itself with Christmas, so much so that the company has an FAQ page for “Did Coca-Cola create Santa Claus?” (The answer: Sort of. “It allows us to work on content that fits into our Real Magic platform,” said Careaga. It’s more centered on our traditions.”The Coca-Cola anthology is designed to appeal to a global audience.
The Mexican grupera (a form of regional music) band Los Bukis become the first Latin music band to sell out two shows at the 70,000-seat SoFi Stadium. The magnitude of generational diversity could be seen when the Grammy award-winning Mexican band Los Tigres del Norte were on stage. Hernán Hernández and Jorge Hernández of the band Los Tigres del Norte perform Saturday. Scott Dudelson / Getty Images"Before, we really were invisible,” said Leila Cobo, a renowned Latin music expert and Billboard’s vice president of Latin content. "Now I think the kids go to see their parents’ music and Bad Bunny."
'Green Book' actor Frank Vallelonga Jr. found dead in the Bronx
  + stars: | 2022-12-01 | by ( ) www.nbcnews.com   time to read: +2 min
"Green Book" actor Frank Vallelonga Jr. was found dead in New York City, police said Thursday. The NYPD responded to a call early Monday morning just before 4 a.m. in the Bronx and found Vallelonga Jr. laying unconscious and unresponsive on the ground. Following the arrival of EMS to the location, the actor was pronounced dead on the scene. Vallelonga Jr. was the son of late actor Tony Lip, whose real name was Frank Vallelonga. Vallelonga Jr.’s brother, Nick Vallelonga, co-wrote the script and produced the film, which also won best original screenplay at the 91st Academy Awards.
Democratic Rep. Mary Peltola has won a full two-year term representing Alaska in the House, NBC News projected Wednesday, defeating former governor and GOP vice presidential nominee Sarah Palin. Shortly after news broke that she had won a full term on Wednesday night, Peltola tweeted "WE DID IT!!!" The outcome of the Nov. 8 election for the state's at-large House seat — as well as other contests, including for Senate — had been delayed for weeks because of Alaska’s new ranked-choice voting system where voters rank the candidates in order of preference. After the first round of voting, Peltola led Palin by more than 20 percentage points, with Republican Nick Begich, a scion of one of Alaska’s most well-known political families, in third. It means that a Democrat will hold the at-large House seat for the next two years, after Young and the GOP had controlled it for nearly five decades.
The 8 Best Winter Boots for Women
  + stars: | 2022-11-22 | by ( ) www.wsj.com   time to read: +5 min
By Lauren IngramDepending on where you live, your ideal winter boot can vary widely. To help you find a stylish boot that also meets the practical demands of your local weather, we asked style pros from a variety of climates which boots are their winter MVPs. “It’s the most durable winter boot,” says Gall, who has worn her pair for nearly a decade of East Coast winters without having to get them resoled or refurbished. The sporty hiker“A true winter boot keeps you warm, withstands rain and snow—and has a proper anti-slip sole,” says Paris-based fashion photographer Sandra Semburg. For Giangola, this minimalist silhouette checks all the boxes of wearability needed for a Los Angeles winter where style trumps snow-readiness.
World Cup advertisers are operating in a minefield
  + stars: | 2022-11-22 | by ( Julia Horowitz | ) edition.cnn.com   time to read: +5 min
London CNN Business —Billions of people watch FIFA’s World Cup every four years, a tantalizing opportunity for advertisers who want to capitalize on the feel-good fervor of the world’s biggest sporting event. In 2018, the World Cup drew in a record 3.6 billion viewers. Given such high levels of engagement, companies are eager to capitalize on the hype and spirit of camaraderie attached to the World Cup. “A Euros or a World Cup for four weeks in the middle of the summer — it’s literally like an island in the middle of the ocean,” ITV sales director Mark Trindler said on an industry podcast this past spring. It had already beaten revenue records for the tournament, and succeeded in bringing more than 20 new advertisers on board.
The sequel to Netflix’s hit feature film “Enola Holmes” may not have the cleverest title, but “Enola Holmes 2” is just as quick-witted and charming as the original. A quirky take on Sir Arthur Conan Doyle’s classic mysteries, Enola is more than ready for another adorable, all-ages romp. Springer’s books, and the films, invent a female character that Doyle never conceived of, and put her front and center. “Sherlock Holmes” is one of the most adapted mysteries series in history. Hopefully the success of the “Enola Holmes” franchise encourages them to make more.
Bad Bets Season 2: The Unraveling of Trevor Milton
  + stars: | 2022-10-28 | by ( ) www.wsj.com   time to read: 1 min
Bad Bets is a podcast series that unravels big-business dramas that have had a big impact on our world. In season two, we delve into the story of Nikola Corp. founder Trevor Milton , who promised a future of zero-emission trucks that could revolutionize the industry. Ben Foldy is the host of this season of Bad Bets. Bad Bets is a production of The Wall Street Journal. This season is produced with Jigsaw Productions, in collaboration with Story Force Entertainment.
Nikola founder Trevor Milton, shown at a New York courthouse last month, was convicted of securities fraud for what prosecutors said were his lies about the company’s technology. A jury’s journey to convictNikola Corp. founder Trevor Milton of defrauding investors involved negotiations with initial holdout jurors and tense debates about whether the former electric-truck executive acted with criminal intent, producing an unusual mixed verdict. Three women, known during the trial as Jurors 1, 5 and 6, described to The Wall Street Journal how a federal jury in New York over five hours came to find Mr. Milton guilty of two wire-fraud charges and one count of securities fraud—but not guilty of another securities-fraud charge that carried the stiffest maximum sentence. The verdict, delivered Oct. 14, puzzled some court watchers because the two securities-fraud charges involved the same alleged conduct by Mr. Milton and required jurors to make nearly identical findings to convict.
Coca-Cola Raises Outlook as Sales Jump 10%
  + stars: | 2022-10-25 | by ( Jennifer Maloney | ) www.wsj.com   time to read: 1 min
Coca-Cola raised its outlook for sales and profit for 2022, but said it was introducing packages at lower price points as it prepares for a global recession. The beverage company’s revenue increased 10% for the quarter ended Sept. 30, as consumers continued to absorb higher prices. Coca-Cola’s prices were 7% higher, on average, than in the same period last year, said the company’s finance chief, John Murphy .
To keep price-conscious customers in the fold, companies like Coke offer more packaging options. In the third quarter, the company introduced a value collection that offers customers products in a variety of sizes. Those items, available at some stores in the US, are “helping to retain and recruit more consumers while creating value for our customers,” Quincey said. (Coca-Cola also recently announced a change to the look of Sprite bottles, ditching its signature green for clear plastic, which is easier to recycle.) And it plans to continue to bolster Coke Zero Sugar, a growth driver, with more marketing and other innovations.
Washington, DC CNN —Nikola founder Trevor Milton was convicted Friday by a U.S. jury of fraud in a case alleging he lied to investors about the electric and hydrogen fuel cell company’s technology. The jury found Milton guilty on a count of securities fraud and two counts of wire fraud after deliberating for roughly five hours. Milton was acquitted on another count of securities fraud. He also was accused of defrauding the seller of a Utah ranch, who accepted Nikola stock options as part of the purchase price based on Milton’s claims about the company. Milton, who called the report criticizing Nikola a “hit job,” and “lies,” resigned from his position as Nikola chairman in Sept. 2020.
For the first time in Prime Day’s history, Amazon is hosting two Prime Day-like events in the same year. The best October Prime Day gift dealsBelow, we’re sharing the best Prime Day deals based on our previous coverage and reporting. This pillow is a great gift for anyone who could use a good night’s rest (so, everyone). This is a great gift this holiday season for those always on the go, like students. 4.5-star average rating from 2,627 reviews on AmazonSunscreen is a must for everyone, as numerous dermatologists have reminded us.
When Electric Vehicles Sound Too Good to Be True
  + stars: | 2022-09-19 | by ( Allysia Finley | ) www.wsj.com   time to read: 1 min
Last week kicked off the fraud trial of Trevor Milton , founder and former CEO of electric-vehicle startup Nikola . The government alleges that he deceived retail investors about Nikola’s technology. He has pleaded not guilty, but the evidence from the government’s 49-page indictment will be hard to refute. The brakes were then released, and the truck rolled down the hill. The truck’s door was taped during the shoot to keep it from falling off, and the batteries were removed to prevent it from catching fire.
Easter dishes from around the world
  + stars: | 2021-04-02 | by ( Janelle Davis | ) edition.cnn.com   time to read: +15 min
Judy Witts Francini/Divinacucina.com Italians usually buy the traditional colomba, an Easter bread shaped like a dove, at a local bakery or pastry shop. Judy Witts Francini/Divinacucina.com Lamb chops are traditionally served on Easter in Italy. Judy Witts Francini/Divinacucina.com These Easter cookies are from Puglia, a southern region of Italy. Judy Witts Francini/Divinacucina.com Italian Easter dishes Prev NextOther countries take a similar “more is more” approach to Easter meals, but a few dishes really stand out. Singapore: Beef murtabakSingaporean beef murtabak is an egg crepe wrapped around ground beef served with fresh lime, chili sauce and raita.
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