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☆ 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

☆ Trump seeks to delay trial in classified documents case
▼ + stars: | 2023-07-11 | by ( ) www.reuters.com time to read: +3 min

July 11 (Reuters) - Former President Donald Trump and his aide Walt Nauta have asked a federal court in Florida to postpone their criminal trial in a classified documents case, saying Trump's busy presidential campaign schedule ahead of the 2024 election will make the current trial schedule "untenable." "President Trump is running for President of the United States and is currently the likely Republican Party nominee. In addition to citing his campaign schedule, Trump's lawyers also told the judge that the unprecedented indictment raises "significant" legal questions and challenges that will be posed by the classified nature of the evidence. The documents case will unfold under a strict set of rules prescribed by the Classified Information Procedures Act, which aims to protect classified evidence and manage disclosure of such records at a public jury trial. Nauta, Trump's aide, pleaded not guilty last week in a Miami federal courthouse to charges that he had helped Trump hide top secret documents taken when he left the White House.

Persons: Donald Trump, Walt Nauta, Trump's, Trump, Nauta, Wilkie D, Ferguson Jr, Chris Kise, Todd Blanche, Jane, Read, Aileen Cannon, Jack Smith's, Cannon, Sarah N, Lynch, Bharat Govind Gautam, Clarence Fernandez, Alistair Bell Organizations: Republican Party, Trump, U.S, United, REUTERS, White House, Thomson Locations: Florida, United States, Miami, Miami , Florida, U.S, Washington, Bengaluru

☆ Trump seeks to delay trial in Mar-a-Lago documents case
▼ + stars: | 2023-07-11 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Jane... Read moreJuly 11 (Reuters) - Donald Trump and an aide, Walt Nauta, have asked a federal court in Florida to postpone the criminal trial in the Mar-a-Lago documents case and drop the current date, a filing by the former U.S. president's lawyers showed. But in the filing late on Monday, Trump's lawyers said a December trial date would deny them reasonable time to prepare, and described the government's requested schedule as "unrealistic." "The court should therefore withdraw the current order setting trial and postpone any consideration of a new trial date," the lawyers said, adding that a continuance was both necessary and appropriate. In the filing, Trump's lawyers said a December trial was untenable in view of the logistical demands of his presidential election bid, a potentially large amount of evidence they might need to review, and other cases he faces. Nauta, Trump's aide, pleaded not guilty last week in a Miami federal courthouse to charges that he had helped Trump hide top secret documents taken when he left the White House.

Persons: Trump, Wilkie D, Ferguson Jr, Walt Nauta, Chris Kise, Todd Blanche, Jane, Read, Donald Trump, Aileen Cannon, Trump's, Jack Smith, Bharat Govind Gautam, Clarence Fernandez Organizations: U.S, United, REUTERS, Prosecutors, U.S . Justice, Trump, White House, Thomson Locations: Miami , Florida, U.S, Florida, Miami, Bengaluru

☆ 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

☆ Adani case threatens watchdog’s rising credibility
▼ + stars: | 2023-07-06 | by ( Shritama Bose | ) www.reuters.com time to read: +4 min

In June the Securities and Exchange Board of India, the country’s markets regulator, disciplined two media tycoons for alleged wrongdoing and strengthened disclosure norms for foreign investors. Going all-in on the Adani case would entail working with other law enforcers, such as the Directorate of Enforcement and the Directorate of Revenue Intelligence. Unless Buch’s team pulls out all the stops, the regulator’s toughest test under her leadership so far is a threat to its rising credibility. The markets regulator on June 12 barred Zee Entertainment Enterprises CEO Punit Goenka and Chair Emeritus Subhash Chandra from holding key managerial positions in any listed company. In a separate order dated June 22 Sebi barred Eros group Managing Director Sunil Arjan Lulla and three group entities including Eros International Media from the securities market, citing accounting irregularities.

Persons: Puri, Gautam, Punit Goenka, Subhash Chandra, Breakingviews, Sebi, Sunil Arjan Lulla, Antony Currie, Katrina Hamlin Organizations: Reuters, Securities and Exchange Board of India, Zee Entertainment Enterprises, Eros International, Reuters Graphics Reuters, of Revenue Intelligence, Securities, Exchange Board, India, Eros International Media, Thomson Locations: MUMBAI

☆ 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

☆ China foreign-exchange regulator Pan Gongsheng named central-bank party boss
▼ + stars: | 2023-07-01 | by ( ) www.reuters.com time to read: +2 min

July 1 (Reuters) - China's ruling Communist Party appointed central bank Deputy Governor Pan Gongsheng as the bank's party secretary on Saturday, a move the Wall Street Journal said would be a prelude to becoming governor. The party's Central Organization Department announced the decision at a meeting on Saturday afternoon, the People's Bank of China (PBOC) said in a statement on its website. The Journal reported hours earlier that Pan would be named to the party post before being appointed by the government to head the PBOC. The central bank said on Friday it would implement prudent monetary policy in a "precise and forceful manner" to support economic growth and employment. The current governor, Yi Gang, has been widely expected to retire since being left off the ruling Communist Party's Central Committee during the party's once-in-five-years congress in October.

Persons: Pan Gongsheng, Pan, Yi, Xi Jinping, Gokul Pisharody, Bharat Govind Gautam, Simon Cameron, Moore, William Mallard Organizations: Communist Party, Wall Street, party's Central Organization Department, People's Bank of China, The, Cambridge University, Harvard University, SAFE, Communist Party's, Thomson Locations: Bengaluru

☆ Canada's revenue agency investigates employees over pandemic benefits, 20 let go
▼ + stars: | 2023-07-01 | by ( ) www.reuters.com time to read: +1 min

June 30 (Reuters) - The Canada Revenue Agency (CRA) on Friday removed 20 of its employees from services and said it was investigating about 1% of its total workforce thereby digging deeper into cases wherein workers may have inappropriately received pandemic benefits payments. The tax agency is investigating a "limited number" representing about 600 of its employees, CRA said in an emailed statement. CRA said the number of people being removed from service is "likely" to increase toward the completion of the review. The Canada Emergency Response Benefit was rolled out in 2020 to offer broad support to millions of Canadians who lost their jobs amid coronavirus shutdowns. It provided financial support to employed and self-employed Canadians who were directly affected by COVID-19.

Persons: Bharat Govind Gautam, Mrinmay Dey, Gokul, William Mallard, Edwina Gibbs, Franklin Paul Organizations: Canada Revenue Agency, Franklin Paul Our, Thomson Locations: Canada, Bengaluru

☆ Canada Revenue Agency investigating 600 employees over pandemic benefits -Globe and Mail
▼ + stars: | 2023-07-01 | by ( ) www.reuters.com time to read: 1 min

June 30 (Reuters) - The Canada Revenue Agency is investigating about 600 of its employees in a review of cases in which workers may have inappropriately received pandemic benefits payments, the Globe and Mail said on Friday. Twenty employees are no longer with the tax agency and more may depart, the newspaper quoted the CRA as saying. The CRA said 600 employees represent less than 1% of its total workforce, according to the paper. The Canada Emergency Response Benefit was rolled out in 2020 to offer broad support to millions of Canadians who lost their jobs amid coronavirus shutdowns. Reporting by Bharat Govind Gautam in Bengaluru; Editing by William Mallard and Edwina GibbsOur Standards: The Thomson Reuters Trust Principles.

Persons: Globe and Mail, Bharat Govind Gautam, William Mallard, Edwina Gibbs Organizations: Canada Revenue Agency, Globe and, CRA, Thomson Locations: Canada, Bengaluru

☆ Tucker Carlson could play a starring role in Smartmatic's $2.7 billion defamation lawsuit – and Fox News should be terrified
▼ + stars: | 2023-06-30 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +6 min

Carlson has a potential ace up his sleeve: becoming a friendly witness for Smartmatic in its pending $2.7 billion lawsuit against Fox News. Fox fired Carlson just days after it agreed to pay $787.5 million to settle a defamation lawsuit from Dominion Voting Systems. The judge previously ordered Fox to give Smartmatic all the discovery evidence in the Dominion lawsuit, handing Smartmatic a powerful weapon already. Fox News has contended that its actions are protected by the First Amendment and called Smartmatic's lawsuit an assault on free speech. "He's obligated to tell the truth regardless of whether he had been fired," Calvert said.

Persons: Tucker Carlson, Carlson, —, Fox, Smartmatic, Rudy Giuliani, Sidney Powell, Donald Trump, Joe Biden, Smartmatic's, Giuliani, Powell, Clay Calvert, Tucker, Gautam Hans, Fox shouldn't, Hans, it'll, Jason Koerner, " Carlson, Calvert, nonresident, he's, He's Organizations: Fox News, Service, Twitter, Dominion Voting Systems, Dominion, New York Times, Fox, Cornell Law School, News Corp, American Enterprise Institute Locations: Smartmatic, cahoots, Washington ,, New York

☆ How Tucker Carlson could be Smartmatic's star witness in its $2.7 billion defamation lawsuit against Fox News
▼ + stars: | 2023-06-30 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +6 min

Ever since he was fired from Fox News, Tucker Carlson has been trying to escape from the network's grip. Carlson has a potential ace up his sleeve: becoming a friendly witness for Smartmatic in its pending $2.7 billion lawsuit against Fox News. Fox fired Carlson just days after it agreed to pay $787.5 million to settle a defamation lawsuit from Dominion Voting Systems. The judge previously ordered Fox to give Smartmatic all the discovery evidence in the Dominion lawsuit, handing Smartmatic a powerful weapon already. Fox News has contended that its actions are protected by the First Amendment and called Smartmatic's lawsuit an assault on free speech.

☆ India’s stock market is hitting record highs. Here’s why
▼ + stars: | 2023-06-28 | by ( Anna Cooban | ) edition.cnn.com time to read: +6 min

London CNN —India’s stock market is booming as investors take a chance on one of the few bright spots in a fragile global economy. The country’s stocks are so hot that India is now home to the world’s fourth most valuable equity market, behind only the United States, China and Japan. The total value of Indian equities has hit $3.5 trillion, greater than the value of Europe’s two biggest stock markets, in the UK and France, according to data from Refinitiv. Bright prospectsThe surge in Indian equities is a reflection of the strength and potential of the country’s economy, according to economists and fund managers. “The Indian equity market is the classic example of ‘expensive for a reason’,” he said.

Persons: ” Sher Mehta, ” Mehta, Sohini Kar, India Ashish Vaishnav, Pieter Elbers, Narendra Modi, Joe Biden, Apple, Lorenzo La, ”, Posta, La Posta, Gautam Adani Organizations: London CNN, United Kingdom’s FTSE, CAC, Virtuoso Economics, CNN, Monetary Fund, India, London School of Economics, Airbus, ”, Apple, Momentum Global Investment Management Locations: India, United States, China, Japan, Russia, Europe, France, Refinitiv, Mumbai, Washington, Germany

☆ Thomson Reuters to acquire legal AI firm Casetext for $650 mln
▼ + stars: | 2023-06-27 | by ( ) www.reuters.com time to read: +1 min

June 27 (Reuters) - Thomson Reuters (TRI.TO) said on Monday it had agreed to acquire Casetext, a legal startup with an artificial intelligence-powered assistant for law professionals, in a $650 million all-cash deal. One of Casetext's key products is CoCounsel, an AI legal assistant launched in 2023 and powered by GPT-4 that delivers document review, legal research memos, deposition preparation, and contract analysis in minutes, Thomson Reuters said in a statement. California-based Casetext employs 104 employees, and its customers include more than 10,000 law firms and corporate legal departments. The acquisition of Casetext is another step towards bringing generative AI solutions to customers, said Steve Hasker, president and CEO of Thomson Reuters. Generative AI is a type of artificial intelligence that generates new content or data in response to a prompt, or question, by a user.

Persons: Thomson, Michael Eastwood, Casetext, Steve Hasker, Bharat Govind Gautam, Rashmi Organizations: Thomson Reuters, Thomson Locations: California, Casetext, Bengaluru

☆ Thomson Reuters to acquire legal tech provider Casetext for $650 mln
▼ + stars: | 2023-06-27 | by ( ) www.reuters.com time to read: +1 min

June 26 (Reuters) - Thomson Reuters Corporation (TRI.TO) said on Monday it had agreed to acquire Casetext, a California-based company that provides technology solutions for legal professionals, in a $650 million all-cash deal. Casetext employs 104 employees, and its customers include more than 10,000 law firms and corporate legal departments, Thomson Reuters said on Monday. The acquisition of Casetext is another step towards bringing generative AI solutions to customers, said Steve Hasker, president and CEO of Thomson Reuters. Casetext was granted early access to OpenAI's GPT-4 large language model, allowing it to develop solutions with the new technology and refine use cases for legal professionals. Reporting by Bharat Govind Gautam in Bengaluru; Editing by Rashmi AichOur Standards: The Thomson Reuters Trust Principles.

Persons: Thomson, Michael Eastwood, Casetext, Steve Hasker, Bharat Govind Gautam, Rashmi Organizations: Thomson Reuters Corporation, Thomson Reuters, Thomson Locations: California, Casetext, Bengaluru

☆ Bernstein sees a $5 trillion opportunity in blockchains for financial markets
▼ + stars: | 2023-06-21 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

If financial incumbents want to be part of the modernization of financial markets, they need to adopt blockchains, according to Bernstein. Beyond tradeable assets like bitcoin, however, there's an opportunity over the next five years for financial firms in tokenizing real-world assets on blockchains, the firm said in a note this week. "Tokenization, we believe, will transform financial markets over the next decade," analyst Gautam Chhugani said in the Tuesday note. "We forecast ~$5 trillion of real-world financial assets will be tokenized on blockchains over the next 5 years." There is also a big opportunity for new business verticals in custody, trading, trade finance and enterprise consulting, Chhugani said.

Persons: Bernstein, Cryptocurrencies, there's, Gautam Chhugani, Chhugani, Hamilton Lane, Franklin Templeton, Michael Bloom Organizations: Investment, KKR, Securitize, JPMorgan Locations: tokenizing, stablecoins

☆ Saudi sovereign wealth fund PIF sells McLaren stake to Bahrain -Sky News
▼ + stars: | 2023-06-21 | by ( ) www.reuters.com time to read: +1 min

June 21 (Reuters) - Bahrain's state investment fund Mumtalakat is buying preference shares and warrants worth 400 million pounds ($510.48 million) in carmaker McLaren from Saudi Arabia's Public Investment Fund (PIF) and Ares Management (ARES.N), Sky News reported on Wednesday. The transaction will not lead to any new money being injected into McLaren, the Sky News report said, adding that an announcement from Mumtalakat on the deal will come on Thursday. The purchase will expand Mumtalakat's majority stake in McLaren group, which includes the British supercar maker as well as McLaren Racing. In July 2021, global investment firm Ares Management and Saudi's PIF provided much of a 550 million-pound equity investment in the McLaren group. Ares Management declined to comment, while McLaren and the PIF did not immediately respond.

Persons: carmaker McLaren, PIF, Ares Management, McLaren, Khalid Al Rumaihi, Bharat Govind Gautam, Chris Reese, Matthew Lewis Organizations: Saudi Arabia's Public Investment Fund, Ares Management, Sky News, McLaren, British, McLaren Racing, Reuters, Thomson Locations: Mumtalakat, Bengaluru

☆ AstraZeneca planning China business spin off, Financial Times reports
▼ + stars: | 2023-06-18 | by ( ) www.reuters.com time to read: +1 min

Companies AstraZeneca PLC FollowJune 18 (Reuters) - Drugmaker AstraZeneca (AZN.L) is drafting a plan to spin off its China business, and listing a separate unit in Hong Kong is being viewed as an option, the Financial Times reported on Sunday. The company would seek to be a patriotic company in China that "loves the Communist Party", its China president said in May. Last year, the country accounted for 13% of AstraZeneca's total sales, and the company is China's biggest drugmaker. The spin off could protect AstraZeneca from tensions between China and other global powers, while the company retained control of the business, the FT's report said. AstraZeneca said it did not comment on "rumours or speculations around future strategy or M&A."

Persons: Bharat Govind Gautam, Rishabh Jaiswal, Chris Reese, Diane Craft Organizations: AstraZeneca, Financial Times, Communist Party, Thomson Locations: China, Hong Kong, Shanghai, Bengaluru

☆ US can't yet compete with China on EVs, Ford chairman tells CNN
▼ + stars: | 2023-06-18 | by ( ) www.reuters.com time to read: +1 min

June 18 (Reuters) - Ford Motor (F.N) Executive Chairman Bill Ford said the United States was not ready yet to compete with China in the production of electric vehicles. And now they're exporting them," Ford told CNN's 'Fareed Zakaria GPS' Sunday program. "They're not here but they'll come here we think, at some point, we need to be ready, and we're getting ready," Ford said. Bill Ford, who is the great-grandson of company founder Henry Ford, said in the program that the Michigan battery plant is a chance for Ford engineers to learn the technology and then use it themselves. Ford CEO Jim Farley said in May that Chinese electric vehicle makers are its main rivals in the sector, and that Ford needs distinctive branding or lower costs to beat Chinese automakers.

Persons: Bill Ford, Ford, CNN's, Fareed Zakaria, we're, Marco Rubio, Biden, Henry Ford, Jim Farley, Rishabh Jaiswal, Bharat Govind Gautam, Diane Craft Organizations: Ford, Toyota, Thomson Locations: United States, China, Michigan, Bengaluru

☆ TipRanks reveals the top 10 Wall Street industrial sector analysts
▼ + stars: | 2023-06-18 | by ( Tipranks.Com Staff | ) www.cnbc.com time to read: +5 min

TipRanks used its Experts Center tool to find the analysts sporting a high success rate. TipRanks' algorithms calculated the statistical significance of each rating, analysts' overall success rate, and the average return. Top 10 analysts from the consumer goods sectorThe image below shows the most successful Wall Street analysts from the industrial goods sector. The buy recommendation generated a return of 134.8% from May 14, 2020 to May 14, 2021. Christopher Glynn - OppenheimerChristopher Glynn has the 10th spot on the list, with a success rate of 60%.

Persons: CARR, Spencer Platt, TipRanks, Kenneth Herbert, Herbert, Leonardo, Stephen Volkmann, Jefferies Stephen Volkmann, Parker Hannifin, Seth Weber, Weber, Benoit Poirier – Desjardins Benoit Poirier, Keith Hughes, Stanley Elliott, Stifel Nicolaus, Andrew Kaplowitz, Julian Mitchell –, Julian Mitchell, Mitchell, Gautam Khanna —, Cowen Gautam Khanna, Christopher Glynn, Oppenheimer Christopher Glynn Organizations: New York Stock Exchange, Getty, RBC, Leonardo DRS, DRS, Wells, Herc Holdings, TFI, Truist, Caterpillar, Citi Citigroup, Julian Mitchell – Barclays, Barclays, Carrier, Johnson Locations: New York City, Wells Fargo Wells, Symbotic, Generac

June 15 (Reuters) - The International Monetary Fund (IMF) on Thursday expressed dissatisfaction with Pakistan’s recently presented budget, a blow for the cash-strapped country which has only two weeks left until its bailout programme expires. However, the draft FY24 Budget misses an opportunity to broaden the tax base in a more progressive way," Esther Perez Ruiz, the IMF's resident representative for Pakistan, said in a text message to Reuters. "The new tax amnesty runs against program’s conditionality and governance agenda and creates a damaging precedent," added Perez Ruiz. She said that measures to address the energy sector’s liquidity pressures could be included alongside the broader budget strategy. Added Perez Ruiz: "The IMF team stands ready to work with the government in refining this Budget ahead of its passage," implying the country still has a chance to unlock its ninth IMF board review prior to the end of the EFF programme.

Persons: Pakistan’s, Esther Perez Ruiz, program’s, Perez Ruiz, Bharat Govind Gautam, Jonathan Oatis, Matthew Lewis Organizations: Monetary Fund, IMF, Fund, FX, Staff, Reuters, EFF, Thomson Locations: Pakistan, Bengaluru, Shahid, Karachi

☆ Ahead of Modi visit, journalists' group urges US to press India on media crackdown
▼ + stars: | 2023-06-14 | by ( ) www.reuters.com time to read: +2 min

WASHINGTON, June 14 (Reuters) - The Committee to Protect Journalists on Wednesday called on the U.S. government to urge India to end a media crackdown and release six detained journalists. A statement from CPJ President Jodie Ginsberg ahead of a state visit to Washington next week by Indian Prime Minister Narendra Modi said there had been an increasing crackdown on India’s media since he came to power in 2014. "Journalists critical of the government and the BJP party have been jailed, harassed, and surveilled in retaliation for their work," Ginsberg said. It highlighted harassment of domestic and foreign media, including through raids and retaliatory income tax investigations launched into critical news outlets. The CPJ also cited a media crackdown in Kashmir, including the use of preventative detention, terrorism and criminal cases, travel bans and raids.

Persons: Jodie Ginsberg, Narendra Modi, Ginsberg, – Aasif Sultan, Gautam Navlakha, Sajad Gul, Fahad Shah, Rupesh Kumar Singh, Irfan Mehraj –, Modi, CPJ, David Brunnstrom, Alistair Bell Organizations: Protect Journalists, Indian, BJP, U.S . State Department, Thomson Locations: India, Washington, United States, Delhi, Mumbai, Indian, Jammu, Kashmir

☆ India's outsourcing giants cut hiring; disheartening for economy, students
▼ + stars: | 2023-06-12 | by ( Navamya Ganesh Acharya | ) www.reuters.com time to read: +7 min

There are pockets of optimism elsewhere in the services sector - especially in accounting, where there is a surge in hiring. NLB sees a 20-25% drop in IT employee additions in the first half of the current financial year, while TeamLease Digital expects a 40% decrease for the entire year. Nasscom declined comment on the hiring slowdown. That has "surely left applicants concerned about future prospects", said staffing firm Xpheno's co-founder Kamal Karanth, who highlighted how current hiring activity was "under a third of what was recorded in the buoyant peak". Pai highlighted sectors such as financial services, consumer goods, specialised manufacturing, medicine, law, chartered accounting and other services as more viable options.

Persons: Rohit Azad, Azad, Rishad Premji, Sakshi Gupta, Sachin Alug, NLB, Nilanjan Roy, Nasscom, Gautam, Xpheno's, Kamal Karanth, LTIMindtree, Karanth, Siana, Siddharth Pai, Pai, Dhanya Skariachan, Raju Gopalakrishnan Organizations: New, Jawaharlal Nehru University, Wipro, HDFC, Apple, Citigroup, American Express, Europe's Credit Suisse, UBS, NLB Services, TeamLease, IT, Tata Consultancy Services, Infosys, Reuters Graphics, Sethuraman, Thomson Locations: BENGALURU, India, Punjab

☆ Telegraph faces sale after UK lender takes control of owners
▼ + stars: | 2023-06-07 | by ( ) www.reuters.com time to read: +1 min

June 7 (Reuters) - The Telegraph group of newspapers could be sold after the Bank of Scotland appointed receivers for shares of the publisher's owners who failed to repay loans by the bank, restructuring group AlixPartners said on Wednesday. No operational changes are expected for the media businesses or their employees, and "neither the Telegraph Media Group (TMG) nor The Spectator are entering administration," AlixPartners added. The Barclay family owns shares of B.UK Ltd, a holding company within the Penultimate Investment Holdings Limited (PIHL) Group that indirectly owns Telegraph Media Group Limited (TMG) and The Spectator magazine. AlixPartners said the receivers may reach a resolution which could involve the Telegraph and Spectator businesses being sold. Sky News reported on Tuesday that Lloyds was set to launch a 600 million pound ($745.4 million) auction of the Telegraph newspapers and The Spectator magazine.

Persons: AlixPartners, Alastair Beveridge, Ben Browne, Barclay, Aidan Barclay, Howard Barclay, Philip Peters, Rigel Mowatt, Gokul Pisharody, Bharat Govind Gautam, Chiara Ellsei, Chris Reese, Richard Chang Organizations: Telegraph, Bank of Scotland, Lloyds Banking Group, Telegraph Media, B.UK Ltd, Investment Holdings, Group, Telegraph Media Group, Spectator, The Spectator, Sky News, Lloyds, Thomson Locations: Bengaluru

☆ UK's Sunak seeks stronger economic ties with U.S. on Washington trip
▼ + stars: | 2023-06-06 | by ( ) www.reuters.com time to read: +2 min

LONDON, June 6 (Reuters) - Britain wants to put its economic ties with the United States on the same footing as the two countries' defence and security cooperation to help both counter global threats, Prime Minister Rishi Sunak will tell President Joe Biden this week. Having left the European Union, Britain is seeking to further align itself with Washington to help navigate a more volatile world driven by the rise of China, the aggression of Russia and the development of Artificial Intelligence. Sunak will meet Biden, U.S. business leaders and members of congress this week, arguing that the existing ties between the two countries mean they are better placed to take on the new challenges together. [1/3] Prime Minister Rishi Sunak arrives at Andrews Air Force Base in Prince George's County, Maryland, ahead of his visit to Washington DC. Writing by Kate Holton; additional reporting by Bharat Govind Gautam in Bengaluru Editing by Elizabeth PiperOur Standards: The Thomson Reuters Trust Principles.

Persons: Rishi Sunak, Joe Biden, Sunak, Niall Carson, Biden, Kate Holton, Bharat Govind Gautam, Elizabeth Piper Organizations: European Union, Artificial Intelligence, Biden, Andrews Air Force Base, Washington DC, Thomson Locations: United States, Britain, Washington, China, Russia, Prince George's County , Maryland, Brussels, London, Bengaluru

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