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- | Gautam Adani’s empire hit by fresh allegations against India’s market regulator | + | China celebrates historic Olympic gold medal tie with US after neck and neck battle |
- | Adani Group companies shed as much as $19 billion in market value on Monday after Hindenburg Research accused the Indian market regulator probing the group of having links to offshore funds also used by Adani. | ||
- | Billionaire Gautam Adani’s flagship firm Adani Enterprises fell 2% in morning trade, while other companies in the group fell between 2% and 4.5%. Adani Enterprises and Adani Ports were among the biggest losers on India’s blue-chip Nifty 50 index. Total losses in Adani companies narrowed to $9 billion | + | China is celebrating its best-ever performance at an overseas Olympics |
- | Hindenburg, named after the 1937 airship disaster, is a New York-based short seller. It caused one of the most stunning upheavals in India’s corporate history in January 2023 when it alleged improper use of tax havens and stock manipulation by the Adani Group. Short sellers make money by betting the value of shares will fall. In this case Hindenburg made $4.1 million. | + | Both countries finished with 40 golds, marking |
- | Adani denied all the allegations at the time and shares | + | The race was dramatically close as the two sporting superpowers went head-to-head in yet another aspect of their geopolitical rivalry |
- | On Saturday, Hindenburg said, citing whistleblower documents, that SEBI Chair Madhabi Puri Buch and her husband held stakes in an offshore fund where a substantial amount | + | China has become one of the world’s most competitive sporting nations in recent decades, seeing its Olympic performance as a symbol |
- | “The allegations are coming for the second time. (A) lot of investigations have happened over the last year and a half. This is a temporary, knee-jerk reaction. Things will get back to normalcy, | + | In Paris, |
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+ | China is only the third country after the US and the former Soviet Union to top the gold medal count at a Summer Olympics away from home soil – and Chinese state media hailed the “record-breaking” haul from Paris. | ||