UBS to take over Credit Suisse to stem global crisis of confidence

UBS will take over Credit Suisse, Swiss authorities said on Sunday, in a deal to combine Switzerland's top two banks designed to contain a widening crisis of confidence in global finance
19 March 2023, 19:12 PM

UBS in talks to acquire Credit Suisse -FT

Banking giant UBS (UBSG.S) is in discussions to take over all or parts of Credit Suisse (CSGN.S), with the boards of Switzerland's two biggest lenders set to meet separately over the weekend, the Financial Times reported on Friday.
18 March 2023, 06:22 AM

UK budget: Economy set to avoid recession this year, Hunt says

Britain's economy is set to avoid a recession in 2023, finance minister Jeremy Hunt said on Wednesday as he began a budget speech that was expected to include measures to speed up economic growth.
15 March 2023, 13:28 PM

SVB says Goldman Sachs was the buyer of portfolio it booked losses on

SVB Financial Group (SIVB.O) said on Tuesday that Goldman Sachs Group Inc (GS.N) was the acquirer of a bond portfolio on which it booked a $1.8 billion loss, a transaction that set in motion the failure of SVB.
15 March 2023, 06:39 AM

Oil prices continue slump in fallout from SVB shutdown

Oil prices dropped more than $2 a barrel on Tuesday, extending the previous day's slide, as the collapse of Silicon Valley Bank rattled equities markets and sparked fear about a fresh financial crisis.
14 March 2023, 10:33 AM

Japan runs record current account deficit in January

Japan logged its largest current account deficit ever in January as a combination of global slowdown and China's Lunar New Year holidays undermined the country's ability to earn from trade.
8 March 2023, 05:59 AM

India's oil deals with Russia dent decades-old dollar dominance

US-led international sanctions on Russia have begun to erode the dollar's decades-old dominance of international oil trade as most deals with India - Russia's top outlet for seaborne crude - have been settled in other currencies.
8 March 2023, 05:41 AM

S&P places evaluation for Adani Transmission under review

Standard & Poor Global Ratings said it has placed its environment, social and governance evaluation for the Adani Transmission Ltd (ALT) "under review"..S&P Global Ratings is an American credit rating agency (CRA). It is a leading index provider and data source of independent credit rating
17 February 2023, 11:10 AM

Scandal-hit Adani Enterprises back to profit

Flagship Adani Enterprises posted a net profit of 8.2 billion rupees ($99 million) for the three months to December, up from a loss of 116 million rupees from a year before, in a filing today.
14 February 2023, 11:29 AM

Adani crisis deepens with Moody's downgrades

On Friday, Moody's downgraded its ratings outlook to negative from stable for Adani Green Energy (ADNA.NS); the Adani Green Energy Restricted Group, which represents some of its other units; and two subsidiaries of Adani Transmission (ADAI.NS).rg Research
11 February 2023, 10:32 AM

French energy giant puts on hold $50b hydrogen project with Adani

TotalEnergies is one of the biggest foreign investors in billionaire Gautam Adani's business empire
8 February 2023, 15:46 PM

Indonesia president warns financial regulator to boost supervision after Adani rout

Indonesian President Joko Widodo urged on Monday his country's financial regulator to strengthen supervision on capital markets in the wake of the crisis at India's Adani Group.
6 February 2023, 07:45 AM

Adani Group plans to trim its capital spending plans: Report

India's Adani Group plans to trim its capital spending plans, newspaper Mint reported today citing people close to the development, days after the conglomerate's flagship firm called off a $2.5 billion share sale.
6 February 2023, 05:30 AM

Adani Enterprises shelves $122 mn bond plan

Adani Enterprises Ltd has shelved a plan to raise as much as 10 billion Indian rupees ($121.65 million), Bloomberg News reported on Saturday.
4 February 2023, 14:33 PM

Adani issue a ‘storm in a tea cup’

The Indian government yesterday termed the stock market turmoil sparked by a sharp fall in the values of Adani Group a "storm in a teacup" as a ruckus over the issue disrupted the proceedings of both Houses of the Indian parliament for the second successive day.
3 February 2023, 13:26 PM

Adani group's market losses hit $100 billion

India's Adani group shares plunged on Thursday after the Gautam Adani-led conglomerate shelved a $2.5 billion share sale amid a turbulent market, bringing its cumulative market capitalisation losses to $100 billion since last week's short-seller attack.
2 February 2023, 05:50 AM

Adani Enterprises enters final day of crucial $2.5 billion share sale

India's Adani Enterprises (ADEL.NS) climbed 2 per cent in early trade on Tuesday, the last day for its $2.5 billion secondary share sale, with all eyes on whether the company can secure enough backing for the offering after a US short-seller's scathing attack.
31 January 2023, 06:03 AM

Samsung profit plummets to 8-year-low

Samsung Electronics Co Ltd (005930.KS) today reported its lowest quarterly profit since 2014 and said persistent macroeconomic uncertainty will make for a tough first half year, though demand is likely to start recovering in the second half.
31 January 2023, 02:55 AM

Growth trajectory of Adani Group's underlying businesses not affected: CFO

The growth trajectory of the underlying businesses of Adani Group has not been affected by the Hindenburg Research report that sparked a $48 billion rout in its stocks, Chief Financial Officer Jugeshinder Singh said today.
30 January 2023, 05:26 AM

Adani hits back at Hindenburg, says complies with local laws

India's Adani Group issued a detailed riposte on Sunday to a Hindenburg Research report that sparked a $48 billion rout in its stocks, saying it complies with all local laws and had made the necessary regulatory disclosures.
30 January 2023, 03:45 AM