JANUARY 27, 2023
While many blue-chip companies reported lower profits last year, Big Oil was having a moment. Crude prices surged, thanks in part to high demand and reduced supply. All of that helped make Chevron the top-performing Dow stock of last year, with shares surging more than 50%.
To be clear: It’s not that Chevron, or any of its peers,...
JANUARY 27, 2023
Goldman Sachs is predicting dark days in 2023 for some of the pandemic’s red-hot U.S. housing markets.
The investment bank shied away from predicting a nationwide crash, but warned that residents in four cities in particular could see plummeting values that echo the 2008 housing collapse, according to a note to clients obtained by the New York Post.
The...
JANUARY 26, 2023
Hindenburg Research said that it stands by its report on Adani Group. Image: Bloomberg
After Adani Group threatened legal action against US investor Hindenburg Research over the report that alleged “brazen” market manipulation and accounting fraud, Hindenburg said that it stands by its report. “Regarding the company’s threats of legal action, to be clear, we would welcome it....
JANUARY 26, 2023
The J. Edgar Hoover Federal Bureau of Investigation Building is seen in Washington, D.C.
WASHINGTON, D.C. - The Federal Bureau of Investigation hacked a prolific ransomware gang called Hive to disrupt its operations and rescue its victims, senior U.S. officials said on Thursday.
In a joint announcement by U.S. Attorney General Merrick Garland, FBI Director Christopher Wray, and Deputy...
JANUARY 26, 2023
Former US Attorney General, Bill Barr.
A new report from the New York Times details how former Attorney General Bill Barr's efforts to discredit the probe into the Trump campaign's contacts with Russian agents completely floundered.
One particularly telling section of the Times' story involves a trip that Barr made to Italy in order to push officials in that...
JANUARY 26, 2023
In this Nov. 10, 2016, file photo, people walk past a Microsoft office in New York. Microsoft says it is making a “multiyear, multibillion-dollar investment” in the artificial intelligence startup OpenAI, maker of ChatGPT and other tools that can generate readable text, images and computer code. The tech giant on Monday, Jan. 23, 2023 described its new...
JANUARY 26, 2023
Sundar Pichai, CEO of Google parent Alphabet, said on Friday around 12,000 jobs would be cut. - AP
A Google employee said he and his wife were both laid off by the tech giant in Friday's mass cull.
Ashish Kalsi wrote on LinkedIn that they stared at each other in "disbelief" that morning as their daughter slept.
...
JANUARY 25, 2023
There is often a story behind the story. As Reliance Industries chairman and managing director Mukesh Ambani wrapped up his presentation at the India Today Conclave 2017, India Today group editorial director (publishing) Raj Chengappa probed deeper into how the country's business icon interpreted the nation and the world. Excerpts:
Q. Your speech was a blueprint, not just...
JANUARY 25, 2023
New Delhi: Adani Group companies' share prices went sliding after Hindenburg Research said on Wednesday it holds short positions in the Indian conglomerate through US-traded bonds and non-Indian-traded derivative instruments.
According to the short-seller, seven Adani-listed companies have an 85 per cent downside on a fundamental basis due to sky-high valuations, and "key listed Adani companies have also...
JANUARY 24, 2023
A Vistara aircraft prepares to land at Chhatrapati Shivaji International Airport in Mumbai, India, on Monday, July 10, 2017. India, which was the world’s fastest growing aviation market last year, is crucial for planemakers like Boeing Co. and Airbus SE, as airlines see increased demand from the rising middle class.
Singapore Airlines Ltd.’s Indian venture has shelved plans...
