Business

Indian Adani begins record sell-off in shares as short seller triggers $44bn rout

MUMBAI, Jan 27 (Reuters) – Shares of Indian firm Adani Enterprises (ADEL.NS) fell 15% on Friday as a scathing report from a U.S. short seller sparked a rout at the conglomerate’s listed companies , casting doubts on how investors will react to the company’s record $2.45 billion secondary sale. Seven listed companies in the Adani …

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BuzzFeed says it will use AI to help create content, stock jumps 150%

New York CNN — BuzzFeed said Thursday it will work with ChatGPT creator OpenAI to use artificial intelligence to help create content for its audience, marking a milestone in how media companies implement the new technology. in their activities. Jonah Peretti, the company’s co-founder and chief executive, told employees in a memo that they can …

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Chevron, Tesla, Seagate Technology, United Rentals and more

Find out which companies are making headlines in the midday business. Seagate Technology – Shares of the data storage company jumped more than 10% a day after Seagate recorded beatings up and down for its fiscal second quarter. Seagate reported earnings of 16 cents per share on revenue of $1.89 billion. Analysts called for earnings …

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Mortgage rates drop ahead of Fed meeting next week

washington d.c. CNN — Mortgage rates fell slightly this week, remaining nearly flat ahead of the Federal Reserve’s closely watched interest rate setting meeting next week. The 30-year fixed-rate mortgage averaged 6.13% in the week ending Jan. 26, down from 6.15% the previous week, according to Freddie Mac data released Thursday. A year ago, the …

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American Airlines (AAL) Q4 2022 results

American Airlines employees help check in passengers at Ronald Reagan Washington National Airport on January 11, 2023 in Arlington, Virginia. Alex Wang | Getty Images American airlines“Fourth-quarter earnings beat analysts’ expectations as strong travel demand and high fares supported results during a choppy holiday season. Shares of American rose about 2% in premarket trading on …

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McDonald’s, In-N-Out and Chipotle are spending millions to block employee raises

New York CNN — California voters will decide next year on a referendum that could overturn a landmark new law setting working conditions and minimum wages of up to $22 an hour for fast-food workers in the world’s largest state. country. Chipotle, Starbucks, Chick-fil-A, McDonald’s, In-N-Out Burger and the owner of KFC Yum! The brands …

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Manchin pushes to delay electric vehicle tax credits

WASHINGTON (AP) — Bolstering his criticisms, the Democratic senator. Joe Manchin on Wednesday proposed delaying new tax credits for electric vehiclesa key part of President Joe Biden’s landmark climate law. Manchin said the guidelines issued by the Treasury Department allow manufacturers in Europe and other countries to circumvent requirements that significant parts of electric vehicle …

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Microsoft investigates Teams and Outlook outage as users report issues

The Microsoft logo was seen at the Microsoft store in New York. Mike Segar | Reuters Microsoft said it was investigating issues with several of its products, including Teams and Outlook. The US tech giant said users may not be able to access several Microsoft 365 services. “We have identified a potential network issue and …

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Hindenburg shorts India’s Adani Group, flags debt and accounting issues

BENGALURU, Jan 25 (Reuters) – Hindenburg Research said on Wednesday it holds short positions in Indian group Adani, accusing the conglomerate of extensive and abusive use of entities based in offshore tax havens and raising concerns about the level high debt. The report, which comes days before a $2.5 billion share offering by flagship Adani …

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