Bill Ackman says Hindenburg’s Adani report is ‘very credible’

Bill Ackman says Hindenburg’s Adani report is ‘very credible’

Jan 27 (Reuters) – U.S. billionaire investor Bill Ackman said on Thursday he found short seller Hindenburg Research’s report on India’s Adani Group “very credible and extremely well researched”. Shares of seven listed Adani Group companies lost $10.73 billion in market capitalization in India on Wednesday after the US short seller released the report, which … Read more

BuzzFeed Soars on Meta Deal Reports, Plans to Use OpenAI

Jan 26 (Reuters) – Shares of BuzzFeed Inc (BZFD.O) jumped on Thursday on reports of a deal with Meta Platforms Inc (META.O) and plans to use artificial intelligence to personalize and improve quizzes and the digital media company’s online content. The stock was 19% higher in extended trading, having more than doubled in value earlier … Read more

Musk says Tesla price cuts sparked demand, 2023 sales could reach 2 million vehicles

Jan 25 (Reuters) – Tesla Inc’s (TSLA.O) aggressive price cuts have boosted demand for its electric vehicles, Chief Executive Elon Musk said on Wednesday, downplaying fears a weak economy could strangle the buyer interest. The company slightly beat Wall Street’s fourth-quarter revenue and profit targets earlier on Wednesday despite a sharp decline in vehicle profit … Read more

IBM cuts 3,900 jobs and misses annual cash target

Jan 25 (Reuters) – IBM Corp (IBM.N) on Wednesday announced 3,900 layoffs as part of some asset disposals and missed its annual cash target, dampening fourth-quarter revenue expectations . Chief Financial Officer James Kavanaugh told Reuters the company was still “committed to hiring for customer-facing research and development.” The layoffs — related to the spin-off … Read more

Microsoft cloud outage hits users around the world

Outage affects Microsoft Azure cloud platform for hours Several Microsoft services, including Teams and Outlook hit Microsoft says most customers now have service restored Shares down 3.2% Jan 25 (Reuters) – Microsoft Corp (MSFT.O) said on Wednesday it had recovered all of its cloud services after a network outage took down its Azure cloud platform … Read more