Moody’s cut its outlook for four Adani Group companies on Friday, citing a “significant and rapid decline” in the entities’ market values, according to a notice from the ratings agency. It downgraded Adani Green Energy, Adani Transmission Step-One, Adani Electricity Mumbai, and Adani Green Energy Restricted Group – an entity that includes Adani Green Energy,…
In the latest downgrade brought on by its split from Kanye West, sportswear manufacturer Adidas warned it could plunge to a loss this year for the first time in three decades, sending its shares plunging as much as 12.6%. The company warned on Thursday that inventory of the rapper and fashion designer’s Yeezy line, which…
Over 20% of Yahoo’s 8,600 employees will be let go as part of a significant restructuring. The seasoned tech company is restructuring its advertising division, which will lose more than half of its staff by year’s end. By the end of the week, the cuts will have a significant impact on close to 1,000 employees.…
Meituan, a Chinese food delivery company, announced on Wednesday that it would be hiring 10,000 people in the first quarter of this year. This news caused the company’s shares to drop more than 6%. Meituan is hiring in dozens of cities, including Beijing and Shanghai, in a variety of different business areas, such as technology…
What happened to the world’s longest happ Officials said on Monday that Britain is pushing ahead with work on a potential digital pound that could be in use by the second half of this decade and help prevent the fragmentation of an electronic cash system dominated by tech or banking behemoths. As part of a…
For generations, society has debated whether or not money brings happiness. Now, a new book has some answers backed up by data. According to Robert Waldinger and Marc Schulz, authors of “The Good Life,” the simple answer is: No, money cannot buy happiness. According to the findings of the Harvard Study of Adult Development, the…
Tesla Inc suppliers are gearing up for more price cuts from Chief Executive Elon Musk and his team after the electric car maker cut down on prices of its vehicles aggressively in a slowing economy, according to industry officials who work with the automaker and its suppliers. Last month’s comments by Tesla Chief Financial Officer Zach Kirkhorn…
Samsung Electronics Co Ltd. of South Korea said on Tuesday that it has no plans to reduce its investment in semiconductors this year, despite the fact that the industry is experiencing its worst slowdown in more than a decade due to a weak global economy. The guidance defies a general industry tendency to cut back…
According to his former boss at food group Heinz, incoming Unilever CEO Hein Schumacher gets seasick, but that hasn’t stopped him from joining and sticking with executive sailing trips. “Every year, I’d bring nine of our most promising executives to Florida – just me and them, not their bosses. One year, we were on a…
Following the meltdown of crypto exchange FTX last year, that resulted in billions of dollars in losses for millions of investors, Britain’s finance ministry is planning “robust” regulations for crypto assets. Globally, cryptocurrency is currently unregulated, with firms only required to conduct checks to prevent money laundering. However, the Financial Conduct Authority (FCA) of the United Kingdom…
