DIRS.INFO The most relevant business & tech news

☆ Abu Dhabi's IHC plans to invest $381 mln in Adani Enterprises
▼ + stars: | 2023-01-30 | by ( ) www.reuters.com time to read: +2 min

DUBAI, Jan 30 (Reuters) - Abu Dhabi conglomerate International Holding Company (IHC.AD) on Monday said it would invest 1.4 billion dirhams ($381.17 million) in Adani Enterprises' (ADEL.NS) follow-on public offer. "Our interest in Adani Group is driven by our confidence and belief in the fundamentals of Adani Enterprises Ltd; we see a strong potential for growth from a long-term perspective and added value to our shareholders," IHC CEO Syed Basar Shueb said in a statement. IHC, Abu Dhabi's largest listed company, invested $2 billion in Adani Group companies last year, including Adani Enterprises. Adani Group has hit back at the report by Hindenburg Research published last week that flagged concerns about Adani Group's debt levels and the use of tax havens. Investors' response to Hindenburg's criticisms will be tested this week by Adani Enterprises' $2.5 billion follow-on share offering which closes on Tuesday.

☆ Exclusive: India's LIC reviewing Adani response to short seller's allegation
▼ + stars: | 2023-01-30 | by ( Nikunj Ohri | ) www.reuters.com time to read: +2 min

[1/2] Life Insurance Corporation of India (LIC) logo is seen displayed in this illustration taken February 20, 2022. REUTERS/Dado Ruvic/Illustration/FilesNEW DELHI, Jan 30 (Reuters) - India's Life Insurance Corporation (LIC) (LIFI.NS) said on Monday it was reviewing the Adani Group's response to scathing criticism by a U.S. short-seller and would hold talks with the group's management within days. State-run LIC, the country's largest insurer, says it has invested 364.7 billion rupees ($4.47 billion) in Adani companies, about 1% of its assets under management. "Of course we are studying the 413-page reply given by Adani Group," Kumar said. ($1 = 81.6120 Indian rupees)Reporting by Nikunj Ohri Editing by David Goodman and Raju GopalakrishnanOur Standards: The Thomson Reuters Trust Principles.

☆ India's Adani Group CFO says stocks rout similar to colonial-era massacre
▼ + stars: | 2023-01-30 | by ( Krishna N. Das | ) www.reuters.com time to read: +2 min

REUTERS/Francis MascarenhasNEW DELHI, Jan 30 (Reuters) - India's Adani Group has said a U.S. short-seller's report on the business house was a "calculated attack" on the country and its institutions while a senior executive has compared a rout of its stocks with a colonial-era massacre. Adani's finance chief, Jugeshinder Singh, likened the behaviour of Indian investors participating in the sell-off to the colonial-era Jallianwala Bagh massacre in Amritsar city. Hindenburg said in a statement on Monday that the Adani Group was trying to "lead the focus away from substantive issues and instead stoked a nationalist narrative". "In short, the Adani Group has attempted to conflate its meteoric rise and the wealth of its chairman, Gautam Adani, with the success of India itself," it said. Jawhar Sircar, a lawmaker from the opposition Trinamool Congress, posted on Twitter: "Since when is Adani = India?"

☆ Adani Enterprises shares rise but other group stocks plunge after short-seller attack
▼ + stars: | 2023-01-30 | by ( ) www.reuters.com time to read: +1 min

NEW DELHI, Jan 30 (Reuters) - Shares in India's Adani Enterprises (ADEL.NS) rose as much as 9.5% on Monday but those of several other group companies plunged for the third straight day, extending their losses after a U.S. short-seller's report that criticised the group. The report led to a $48 billion wipe-out in seven listed companies of the Adani group last week. On Monday, Adani Enterprises was trading at 2,962 rupees in early trade, paring some of its initial gains, as its critical $2.5 billion secondary share sale entered its second day. That's below the price band for the share sale - Adani has set a floor price of 3,112 rupees per share and a cap of 3,276 rupees. Adani Transmission (ADAI.NS), Adani Total Gas (ADAG.NS) and Adani Green Energy (ADNA.NS) all fell more than 15% each.

☆ Adani's $2.5 billion share sale faces crucial day after Indian rout
▼ + stars: | 2023-01-29 | by ( ) www.reuters.com time to read: +3 min

Adani Group has called the report baseless and said it was considering taking action against Hindenburg. 'FREE FALL'Some Adani Group stocks have surged more than 1,500% in the last three years amid aggressive expansion in businesses that include ports, power generation, airports and mining. Adani Enterprises has set a floor price of 3,112 rupees per share and a cap of 3,276 rupees for the secondary share sale - well above their close of 2,761.45 rupees on Friday. Arun Kejriwal, founder of Kejriwal Research & Investment, said investors were likely to wait until the last day of the share sale to see if the price band is tweaked. There are at least six Adani Group companies in the MSCI India Index, with a cumulative weight of 4.31%.

☆ Adani's $2.5 billion share sale faces crucial day after rout
▼ + stars: | 2023-01-29 | by ( ) www.reuters.com time to read: +3 min

Jan 30 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever. It looks like a quiet start to the week in Asia on Monday, but don't be fooled - it may be the calm before the storm. The MSCI Asia ex-Japan index is at a nine-month high and up more than 30% from the October low. It has risen in 11 of the last 13 weeks and is on course for a monthly gain of 11%. China reopens after the Lunar New Year holiday, so trading volumes in Asia will return to something resembling normal.

Asked for comment, an Adani Group spokesperson said in an email that the share sale was going "as per schedule", without elaborating. The Adani Group has called the report baseless and said it was considering taking action against Hindenburg. Friday's 20% fall in shares of group flagship Adani Enterprises dragged it 11% below the minimum offer price of the secondary sale. Adani had set a floor price of 3,112 rupees ($38.22) a share and a cap of 3,276 rupees, but Adani Enterprises closed on Friday 2,761.45 rupees. A fourth source said Adani management is also discussing the share sale internally to decide on next steps.

☆ Bill Ackman says he finds short-seller's Adani Group report 'highly credible' – and notes similarities to 'pyramid scheme' Herbalife
▼ + stars: | 2023-01-27 | by ( George Glover | ) www.businessinsider.com time to read: +2 min

Hindenburg Research accused India's Adani Group of "brazen stock manipulation" in report published this week. Pershing Square CEO Bill Ackman said he found the short-seller's report "highly credible and extremely well researched". Adani Group had inflated its own valuation by manipulating the stock market and committing accounting fraud, the report had said. "I found the Hindenburg report highly credible and extremely well researched," Pershing Square Capital Management CEO Ackman aid on Twitter late Thursday. Ackman also compared Adani Group to Herbalife – the multi-level marketing company that Pershing Square unsuccessfully shorted between 2012 and 2017 in one of the billionaire investor's biggest-ever losses.

☆ Adani shares plunge further as it weighs legal action against short seller firm
▼ + stars: | 2023-01-27 | by ( Jihye Lee | ) www.cnbc.com time to read: +3 min

Hindustan Times | Hindustan Times | Getty ImagesShares of Adani Group companies continued to see sharp losses for a second consecutive trading session in India, after short seller firm Hindenburg announced its short position in the conglomerate's firms earlier this week. Adani Transmission fell 19.47%, Adani Green Energy shed 19.89% and Adani Power lost 5%. Adani Port's share price also dropped 13.8%. Billionaire investor and CEO of Pershing Square Capital Management, Bill Ackman, voiced his support for the short seller firm in a tweet posted shortly before India's market open. "I found the Hindenburg report highly credible and extremely well researched," he wrote, adding that Adani Group's response "speaks volumes."

☆ Asia's richest person doubles down on defence against fraud allegations ahead of a massive share sale
▼ + stars: | 2023-01-27 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

It aimed to address some of Hindenburg's allegations of market manipulation and accounting fraud. Shares of listed Adani Group companies are extending steep declines on Friday, following the report. The allegations in Hindenburg's bombshell Tuesday report could not have come at a more inopportune moment for Adani group. A secondary share sale of Adani Enterprises — the flagship business of the Adani business empire founded by Asia's richest person, Gautam Adani, is currently underway. Shares of Adani Group companies are taking a beatingOn Friday, shares of Adani Enterprises were 15.4% lower at 3.42 a.m.

☆ Adani Group says it's exploring 'remedial and punitive' legal action against a short-seller who accused it of market manipulation and fraud
▼ + stars: | 2023-01-26 | by ( Huileng Tan | ) www.businessinsider.com time to read: +2 min

Short-seller Hindenburg levelled allegations of market manipulation and accounting fraud at Adani Group. Adani Group called the report "maliciously mischievous" and "unresearched." It's now looking at potential legal action against Hindenburg Research. Jalundhwala further said the resulting volatility in the Indian stock markets "is of great concern and has led to unwanted anguish for Indian citizens." The Adani Group said Hindenburg — which holds short positions against the conglomerate's companies — stands to "benefit from a slide in their share prices."

☆ A 26-year-old college dropout makes up to $73,000 a month in revenue selling products on Amazon FBA. He shares his top 5 tips to find the best products and sell them out.
▼ + stars: | 2023-01-26 | by ( Laila Maidan | ) www.businessinsider.com time to read: +8 min

Kevin Pak lost money on the first two products he tried to sell on Amazon FBA. In 2022, Pak made $289,000 in revenue and $127,000 in profit, according to screenshots of his Amazon seller's account viewed by Insider. Pak realized that the manufacturer he ordered shipped out poor-quality products. His product didn't look anything different, except he didn't have any reviews. If you're unsure about this step, Pak recommends consulting with an attorney or hiring a freelancer from Fiverr to do it for you.

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.

☆ This $22.7 million quail plantation in southwest Georgia is a hunter's paradise. It has five properties and more than 3,500 acres of hunting land — take a look inside.
▼ + stars: | 2023-01-20 | by ( Robert Davis | ) www.businessinsider.com time to read: +1 min

Jon Kohler, the seller's agent, told Insider that the property was developed in 1850 by famous architect John Wind, who is known for his Greek Revival style. Courtesy of Jon Kohler & AssociatesKohler told Insider that the property has been primarily used as a quail plantation since it was built in the 1850s. Quail plantations are common in south Georgia because of its lush habitat and diversified selection of tree cover. Many quail plantations were converted from old cotton plantations in the 1880s as wealthy industrialists from the north moved southward after the Civil War, according to research from the University of Tennessee. "Magnolia Hall does not have the traditional markings of an old cotton plantation like a graveyard, and I don't believe the property was ever used to grow cotton," Kohler told Insider.

☆ An investor who started with $5,000 and built a 742-unit real-estate portfolio says a coming correction will be the next buying opportunity — and shares the financing method he's using to snag 2% inte
▼ + stars: | 2023-01-14 | by ( Laila Maidan | ) www.businessinsider.com time to read: +6 min

Now, he's preparing to buy up the deals coming in from the housing correction this year. Some of the deals he's snagging are from foreclosures, which have been on an uptick. "People are getting more eager to sell and it's less of a seller's market and more of a buyer's market," Tortoriello said after witnessing the competition and buying frenzy of the last two years. He expects this to cause job losses and hurt other parts of the economy including the housing market. For those who are prepared to take advantage of price plunges in the housing market, numerous opportunities are coming, he said.

☆ Exclusive: Rocket CEO: Housing isn't a buyer's or a seller's market. Now it's even
▼ + stars: | 2023-01-13 | by ( Matt Egan | ) edition.cnn.com time to read: +4 min

Jay Farner, who presides over America’s largest mortgage lender Rocket Mortgage, says the days of sellers holding all the power are over. Buyers can take a bit more time,” Farner, the CEO of Rocket Companies, told CNN in an exclusive interview. But the Rocket CEO isn’t prepared to declare this a buyer’s market, at least not yet, because inventories remain historically low. The Rocket CEO is less optimistic about the direction of the overall economy. Asked if he’s worried about a major debt ceiling crisis, Farner pointed to history as a guide.

☆ A 24-year-old made over $300,000 in revenue selling on Amazon in 2022. He explains how he got started by arbitraging products from stores like Walmart and Target to sell online, and shares his top 4 t
▼ + stars: | 2022-12-24 | by ( Laila Maidan | ) www.businessinsider.com time to read: +7 min

Kade Peterson, 24, wanted to be an Amazon seller after witnessing his older brother become successful at it. Together with his brother, he went to an overstocked goods store with the Amazon Seller app in hand. Tips from lessons learnedAfter noticing that some products sold immediately and others never sold, he realized that he could use an Amazon metric known as an Amazon Best Sellers Rank (BSR). But there are some brands that don't allow anyone to sell their products, no matter how long you've been an Amazon seller, he noted. If a customer complains about a faulty product, Amazon will shut you down, he said.

☆ 'Selling Sunset' star Jason Oppenheim shares what he looks for when buying a new home and his top advice for buyers in 2023
▼ + stars: | 2022-12-19 | by ( Dorothy Cucci | ) www.businessinsider.com time to read: +9 min

He says low inventory won't change anytime soon and that homes sitting on the market are often hidden gems. This as-told-to essay is based on a conversation with Jason Oppenheim, president and founder of The Oppenheim Group and star of Netflix's 'Selling Sunset.' Low inventory plus high demand equals higher prices; low inventory plus low demand (which we have now) creates a balance. In a low inventory market, you usually have to give up a few items on your wish list. If you're a seller in a big city, you're gonna have to be patient, but there's going to be decent demand.

Among the nine housing markets surveyed, prices in six were expected to drop next year. Cost of living increases will also reduce demand as some consumers delay home purchases," noted analysts at Fitch Ratings, adding there was "significant uncertainty" around how much house prices would fall. An overwhelming majority of analysts polled by Reuters in the past weeks said house prices need to fall more than they currently expected in order to make them affordable. Already falling sharply, Australia and New Zealand housing prices were likely to fall further next year, by around 16%-18% from their peaks. The last time house prices fell sharply was during the global financial crisis almost 15 years ago, but with most major economies forecast to enter only a shallow recession, a similar crash was unlikely.

☆ Carvana shares rebound almost 30%, attracts new watchers on StockTwits
▼ + stars: | 2022-12-08 | by ( ) www.reuters.com time to read: +1 min

Dec 8 (Reuters) - Shares of Carvana Co (CVNA.N) rebounded nearly 30% on Thursday, erasing some of the previous day's deep losses inflicted by worries about the used car seller's solvency. The surge came as Carvana topped a list of stocks attracting new watchers on StockTwits, a website popular with amateur traders. Carvana shares on Wednesday dropped over 40% to a new low after Bloomberg reported the company was speaking with lawyers and investment bankers about options for managing its debt load. The company has suffered from waning used-car demand and high costs, forcing it to undertake job reductions to rein in expenses this year. Its notes maturing in 2025 remained under pressure at around 42 cents on the dollar, above a low of 40 cents a month earlier but down from around 43 cents late on Wednesday.

☆ A real-estate investor who sets aside $10,000 a month for his next investment property shares his 2-step process for finding great deals right now: 'Speed is not your friend'
▼ + stars: | 2022-12-06 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +4 min

Real estate investor Dion McNeeley has shifted his strategy when it comes to finding deals. "In the last couple of years there was a lot of demand and not a lot of supply," the 52-year-old real estate investor told Insider. Instead, investors should be looking for two specific things: First, watch "days on market," said McNeeley. McNeeley hasn't bought property since 2021, but he's ready to jump on the right deal when it comes along. "I've never invested in real estate waiting for something to happen in the market."

☆ EV maker Fisker faces liquidity questions after short-seller claims its cash is "tied up"
▼ + stars: | 2022-12-01 | by ( John Rosevear | ) www.cnbc.com time to read: +4 min

Henrik Fisker stands with the Fisker Ocean electric vehicle after it was unveiled at the Manhattan Beach Pier ahead of the Los Angeles Auto Show and AutoMobilityLA on November 16, 2021 in Manhattan Beach, California. Electric vehicle startup Fisker is facing new liquidity questions after a short seller report Thursday claimed the company's funds are "tied up." According to the report, much of Fisker's cash balance is tied up via bank guarantees on behalf of Magna International , the auto parts giant that began building Fisker's Ocean SUV under contract last month. "Fisker Inc. does not have a bank guarantee with Magna, and Fisker owns the intellectual property for the Fisker Ocean platform," Fisker said in a statement after the U.S. markets closed on Thursday. With a potential downturn looming, Fisker's cash hoard has provided some comfort to its investors.

☆ These are shaping up to be the best and worst luxury real estate markets for 2023
▼ + stars: | 2022-11-29 | by ( Robert Frank | ) www.cnbc.com time to read: +3 min

Wealthy investors betting on luxury real estate would do best by putting their money in Dubai or Miami next year, according to a new report. In a ranking 25 of the world's top luxury, or "prime," real estate markets, Dubai topped the list, with prices expected to increase 13.5% in 2023, according to real estate consultancy Knight Frank. The worst performers next year are expected to be Seoul and London, with prices expected to drop 3% for both. Across the 25 cities, Knight Frank expects prices to rise by an average of 2% in 2023, revised down from the 2.7% Knight Frank projected six months ago. Political and economic volatility in many countries will also lead to a flight to safety in real estate, "pushing buyers to mature and transparent luxury markets."

☆ Inflation is coming down. Here's what that means for your annual pay raise
▼ + stars: | 2022-11-25 | by ( Eric Rosenbaum | ) www.cnbc.com time to read: +7 min

Once you pay people more, it's hard to claw that back even when inflation starts to come back down. Inflation and annual pay are not in a one-to-one relationship. That became clear to many workers last year when their annual merit increases in salary and wages were not anywhere near the four-decade highs for inflation. But Reilly said that to date, the numbers are "solidly at 4%" for both executive and rank-and-file pay increases. Pearl Meyer research indicates that merit increases are a lagging indicator relative to inflation and costs.

Search resuls for: "seller's"

25 mentions found