India's securities regulator has accused current and former executives from PwC, EY, Carlyle, and Advent. They allegedly breached insider trading rules concerning a 2022 Yes Bank share sale. The regulator claims unpublished price-sensitive information was shared, leading to unlawful gains. The notice follows an investigation into Yes Bank's share movements before a significant offering.
Securities and Exchange Board of India has given the green light to thirteen companies for their Initial Public Offerings. Firms like Sify Infinit Spaces and Commtel Networks are among those that received Sebi's final observations. This clearance allows these companies to move forward with their plans to raise capital through the stock market.
Adani Group stocks saw a sharp decline on Friday. This followed news that the US SEC is seeking court permission to email summons to founder Gautam Adani and nephew Sagar Adani. Allegations involve fraud and a bribery plot. The group's market value dropped by over $9 billion. Investors are advised to wait for clarity.
The Indian rupee hit a record low of 91.97 against the dollar on Friday, driven by equity selling and importer demand. Reports of potential US regulatory summons to billionaire Gautam Adani in connection with alleged bribery and fraud significantly impacted the currency's retreat. Foreign investors have divested over $3 billion from Indian markets this month.
Indian stock markets ended a difficult week with a significant drop on Friday. The rupee hit new record lows, and global tensions fueled investor caution. Shares of Adani Group companies saw a sharp decline. Broader markets also experienced substantial losses. Investors are concerned about global uncertainty and potential conflicts.
Videotelephony firm Zoom, telecom giant T-Mobile and low-cost airline Southwest Airlines are among the latest global companies considering the establishment of global capability centres (GCCs) in India, said people aware of the matter, adding that they are in talks with several states toward this end.
TikTok has at last finalized a deal to keep the popular video sharing platform operating in the U.S. after years of uncertainty, but questions remain about whether users experience will change and whether the changes actually address security concerns around the app.
An owner of the Signature Room shuffled its assets around to avoid paying workers who were abruptly laid off when the iconic restaurant and lounge shuttered in 2023, a lawsuit filed in Cook County Circuit Court this week alleges.
China's tech giants, including Alibaba and Tencent, are preparing to order Nvidia's H200 AI chips, signaling Beijing's imminent approval for these crucial components. This move prioritizes major Chinese companies' AI development needs, potentially boosting Nvidia's business. Local chipmakers like Huawei are also expanding production amid these developments.
