Adani loses Asia’s richest crown as the price drop deepens to $84 billion

Adani loses Asia’s richest crown as the price drop deepens to  billion

BENGALURU, Feb. 1 (Reuters) – Shares in Indian magnate Gautam Adani’s conglomerate plunged again on Wednesday as defeat in his companies deepened to $84 billion in the wake of a US short-seller report, which also saw the billionaire lose his title. as Asia’s richest lost person. Wednesday’s stock losses dropped Adani to 15th on the … Read more

Intel slashes employee and exec pay during PC market downturn

Intel slashes employee and exec pay during PC market downturn

31 Jan. (Reuters) – Intel Corp. (INTC.O) said on Tuesday it had made significant cuts to employee and executive compensation, a week after the company issued a lower-than-expected sales forecast due to a loss of market share to rivals and a downturn in the PC market. The cuts will range from 5% of base pay … Read more

AMD sales surpass targets, Wall St relieved after Intel’s grim outlook

AMD sales surpass targets, Wall St relieved after Intel’s grim outlook

31 Jan. (Reuters) – US chipmaker Advanced Micro Devices Inc (AMD.O) posted sales on Tuesday that exceeded Wall Street targets and said it expected business to improve in the second half, exciting investors who saw that the company made a profit on rival Intel. The stock rose about 1.5% in aftermarket trading. While AMD’s forecast … Read more

The Canadian province is trying to decriminalize drugs to combat the overdose crisis

The Canadian province is trying to decriminalize drugs to combat the overdose crisis

VANCOUVER, Jan. 31 (Reuters) – The Western Canadian province of British Columbia on Tuesday began a three-year pilot program to stop prosecuting people for carrying small amounts of heroin, meth, ecstasy or crack cocaine as part of attempting a drug overdose crisis. As of 2016, BC is responsible for about a third of the 32,000 … Read more

Exxon crushes Western oil company profits by $56 billion by 2022

Exxon crushes Western oil company profits by  billion by 2022

HOUSTON, Jan. 31 (Reuters) – Exxon Mobil Corp (XOM.N) posted a net profit of $56 billion for 2022, the company said Tuesday, taking home about $6.3 million an hour last year and not just a company record but also a historic high point for the Western oil industry. Oil companies are expected to break their … Read more

US requests Tesla driver-assist documents; company raises capex forecast

US requests Tesla driver-assist documents;  company raises capex forecast

WASHINGTON, Jan. 31 (Reuters) – Tesla Inc (TSLA.O) announced on Tuesday that the US Justice Department has sought documents related to its Full Self-Driving (FSD) and Autopilot driver assistance systems as regulations tighten. The automaker said in a filing that it has “received requests from the DOJ for documents related to Tesla’s Autopilot and FSD … Read more

Exclusive: Bed Bath & Beyond prepares to file for bankruptcy as early as this week – sources

Exclusive: Bed Bath & Beyond prepares to file for bankruptcy as early as this week – sources

NEW YORK, Jan. 30 (Reuters) – Bed Bath & Beyond Inc (BBBY.O) is gearing up to seek bankruptcy protection as early as this week and has liquidators lined up to close additional stores unless a last-minute buyer appears, four people familiar with the matter said Monday. The timing of an eventual bankruptcy filing was in … Read more

Turkey’s advance in Iraq brings with it a deeper conflict

Turkey’s advance in Iraq brings with it a deeper conflict

SARARO, Iraq, Jan. 31. (Reuters) – Three Turkish military outposts, towering over the abandoned village of Sararo in northern Iraq, pierce the skyline, part of a raid that forced residents to flee after days of shelling last year. The outposts are just a few of dozens of new military bases Turkey has established on Iraqi … Read more

Adani’s crucial share sale 85% subscribed as institutions pumped funds

Adani’s crucial share sale 85% subscribed as institutions pumped funds

MUMBAI, Jan. 31 (Reuters) – Indian billionaire Gautam Adani’s $2.5 billion share sale moved closer to full subscription on Tuesday as investors pumped in cash after a tumultuous week for his group in which the shares were ravaged by a destructive short-seller -report. The secondary share sale of flagship Adani Enterprises (ADEL.NS) was 85% underwritten … Read more

Western allies disagree on jets for Ukraine as Russia claims gains

Western allies disagree on jets for Ukraine as Russia claims gains

Biden says ‘no’ when asked about F-16s for Ukraine Zelensky says Moscow is seeking “big revenge.” Russian administrator claims foothold in Vuhledar Kiev could recapture ground if western weapons arrive – group KYIV, Jan. 31 (Reuters) – Ukraine’s defense minister will meet President Emmanuel Macron in Paris on Tuesday amid a debate among Kyiv’s allies … Read more