CMPNY

Gautam Adani no longer Asia’s richest person as stock rout worsens to $74 billion

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BENGALURU, Feb 1 (Reuters) – India’s Gautam Adani lost his title as Asia’s richest person on Wednesday as his conglomerate’s stock rout deepened to $74 billion after a sell-off report at discovered. A Hindenburg Research report last week alleged misuse of offshore tax havens while flagging concerns over high debt and valuations at seven Adani-listed …

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US stops granting export licenses to Chinese Huawei – sources

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Jan 30 (Reuters) – The Biden administration has stopped approving licenses allowing U.S. companies to export most items to China’s Huawei, according to three people familiar with the matter. Huawei has faced U.S. export restrictions on items for 5G and other technologies for several years, but U.S. Commerce Department officials have granted licenses to some …

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US seeks Tesla driver assistance documents; the company increases its investment forecast

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WASHINGTON, Jan 31 (Reuters) – Tesla Inc (TSLA.O) disclosed on Tuesday that the U.S. Justice Department had sought documents related to its self-driving (FSD) and Autopilot assistance systems as the regulatory scrutiny intensifies. The automaker said in a filing that it “has received requests from the DOJ for documents related to Tesla’s Autopilot and FSD …

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US court rejects J&J’s bankruptcy strategy for thousands of talc lawsuits

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Jan 30 (Reuters) – A U.S. appeals court on Monday dismissed an attempt by Johnson & Johnson (JNJ.N) to offload tens of thousands of lawsuits over its talc products in bankruptcy court. The ruling marked the first major repudiation of an emerging legal strategy that could upend US corporate liability law. J&J is among four …

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Exclusive: Bed Bath & Beyond is preparing to file for bankruptcy this week – sources

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

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Crucial sale of Adani shares 85% subscribed as institutions inject funds

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MUMBAI, Jan 31 (Reuters) – Indian billionaire Gautam Adani’s $2.5 billion share sale edged closer to full subscription on Tuesday as investors pumped in after a tumultuous week for his group in during which its shares were ravaged by a scathing report on short sellers. The secondary sale of shares in flagship Adani Enterprises (ADEL.NS) …

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Philips to cut 13% of jobs in safety and profitability

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Philips will cut another 6,000 jobs Increases number of layoffs since October to 13% of current workforce Shares up 5.5% as fourth quarter results beat expectations AMSTERDAM, Jan 30 (Reuters) – Dutch health-tech company Philips (PHG.AS) will cut an additional 6,000 jobs worldwide as it tries to restore profitability and improve the safety of its …

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