Indian industrialist Gautam Adani is Asia's richest man, with a business empire spanning coal, airports, cement and media now rocked by corporate fraud allegations and a stock market crash. . Adani Group has lost upwards of $45 billion in market cap since the report's release, and its legal chief announced Thursday that it was exploring punitive action against Hindenburg in US and Indian courts.
Britain's finance minister will dismiss "gloom" over the country's recession-threatened economy and vow to tap into Brexit opportunities to bolster growth in a key speech on Friday.. "Our plan for growth is a plan built on the freedoms which Brexit provides.
H&M reported Friday a big drop in profits in 2022, with a surprise loss in the fourth quarter as the Swedish fashion retailer exited Russia and faced soaring production costs.. The withdrawal from Russia and a cost-cutting programme cost H&M almost 2.6 billion Swedish kronor ($252 million) in 2022.
Following Brexit, confectioner Pecan Deluxe Candy soon discovered that British operations were plagued by costly new red tape on exports of animal-derived products.. "We decided to take action because ... we weren't just going to lie down and take it," Graham Kingston, managing director of the Pecan Delux Candy Europe, told AFP. The UK left the European Union's single market and customs union two years ago, forcing exporters of animal-based foodstuffs to submit veterinary certification and other costly paperwork.
Grays, a town near London, voted overwhelmingly in favour of Brexit.. In the 2016 vote, 72.3 percent voted for Brexit in the Essex constituency of Thurrock, of which Grays is the largest town with around 75,000 people.
Trading in the business empire of Asia's richest man Gautam Adani was halted Friday following a 15 percent plunge in its share price, days after a US investment firm claimed it had committed "brazen" corporate fraud.. Adani, 60, was the world's third-richest person on Wednesday, but on Friday fell to seventh place on Forbes' billionaires tracker after losing $19 billion when trading resumed in India following a Republic Day holiday.
Shares in the business empire of Asia's richest man Gautam Adani sank again Friday after the conglomerate slammed a US investment firm that claimed it had committed "brazen" corporate fraud.. Hindenburg's report accused Adani Group of engaging in a "brazen stock manipulation and accounting fraud scheme over the course of decades".
Asian markets rose again Friday as fears about a possible recession in the US economy were soothed by data showing it grew more than expected in 2022, adding to the broadly upbeat tone across trading floors this year.. Thursday's US growth figures showed a slowdown in 2022 from the previous year but a better-than-expected performance, which was described as a "Goldilocks scenario" -- where the figures are neither too good nor too bad.
The heated debate over facial recognition technology has a new flashpoint: Manhattan's celebrated Madison Square Garden, home to the New York Knicks basketball team and countless Billy Joel concerts.. He says the Madison Square Garden example shows that private business can use facial recognition "to exclude anyone whose voice you want to silence."
The US Justice Department's shutdown Thursday of the Hive ransomware operation -- which extorted some $100 million from more than 1,5000 victims worldwide -- highlights how hacking has become an ultra-efficient, specialized industry that can allow anyone to become a cyber-shakedown artist.. In November, the Justice Department said LockBit had reaped tens of millions of dollars in ransoms from 1,000 victims.
