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India's Adani starts record share sale as short sellers cause $44 billion loss

Adani forgoes selling shares worth $2.5 billion in a huge blow to the Indian businessman

NEW DELHI (Reuters) – Gautam Adani’s parent company canceled the sale of its $2.5 billion shares in a dramatic reversal on Wednesday after criticism of short sellers in the United States wiped billions more from the value of the Indian tycoon’s shares. The withdrawal of Adani Enterprises (ADEL.NS) share offer represents a stunning setback for …

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India's Adani starts record share sale as short sellers cause $44 billion loss

India’s Adani starts record share sale as short sellers cause $44 billion loss

MUMBAI (Reuters) – Shares in India’s Adani Enterprises fell 15% on Friday after a scathing report from a US short seller routed the conglomerate’s listed companies, casting doubt on how investors will respond to it. Company secondary sales of $2.45 billion. Seven companies included in the Adani Group — which is controlled by one of …

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Genesys Crypto Lending Unit for US Bankruptcy Files

Genesys Crypto Lending Unit for US Bankruptcy Files

Jan. 20 (Reuters) – The lending unit of crypto firm Genesis filed for US bankruptcy protection on Thursday, owing at least $3.4 billion, after being ousted by a market rout along with the likes of FTX exchange and lender BlockFi. Genesis Global Capital, one of the largest cryptocurrency lenders, froze customer refunds on November 16 …

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Job cuts at Goldman impacted investment banking and global markets

Job cuts at Goldman impacted investment banking and global markets

Mass repetition, spending review seduces the Wall Street giant Discounts in all major divisions expected globally Restructuring in the Asian wealth unit begins layoffs on Wednesday NEW YORK/LONDON/HONG KONG (Reuters) – Goldman Sachs began laying off staff on Wednesday in an all-out campaign to cut costs, with about a third of those affected coming from …

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Shares of ant-related companies rise after news of Jack Ma's relinquishment of control;  Ali Baba jumps

Shares of ant-related companies rise after news of Jack Ma’s relinquishment of control; Ali Baba jumps

(Reuters) – Shares of listed Chinese companies, which count Ant Group as a major shareholder, rose on Monday after it was announced that Ant founder Jack Ma would relinquish control of the financial technology giant after an overhaul. Hong Kong-listed shares of Alibaba (9988.HK) jumped 7%. Shares of Longshine Technology Group Co Ltd (300682.SZ), Jilin …

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