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The stock market crash hit $70 billion, and Adani Group was quick to blame the problem on India.
Adani Group has accused US-based Hindenburg Capital of launching “a calculated attack” on India by publishing a report alleging widespread fraud at the ports-to-power conglomerate. In a statement, the company said that Hindenburg took a short position in Adani Group shares. It further said that Adani Group shares are ” massively overvalued” and Hindenburg has…
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Hong Kong criminalizes cannabinoids as a drug along with heroin.
Hong Kong’s first CBD cafe, Found, had also made headlines when it opened in 2020. “At some bars, regulars ‘come in every weekend for a glass of CBD lemonade’,” Found’s co-owner said. A bakery owner who sells baked goods that are infused with CBD said that rumours of the ban affected her business. She added…
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The next generation of corona virus vaccines is described in a graphical guide.
US-based Gritstone plans to apply for UK and Australian authorisation this year for its bivalent COVID-19 vaccine, which it claims is safe andPrompted a strong antibody response when used as a booster. Gritstone’s bivalent vaccine is made up of two proteins that stimulate the memory B cells already established by other COVID-19 vaccines. It is…
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In the year 2022, 22 ways flying had a bumpy ride.
The last of Boeing’s 747 airplanes rolled off the assembly line in Washington state on Tuesday. After 53 years and more than 1,570 planes, the last Boeing 747 rolled off the assembly line in Washington state on its way to serve as a cargo plane. American Airlines agreed to buy 20 of the jets from…
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Adani Group says there is an attack on India by the stock market.
US-based investment firm Hindenburg released a report saying widespread fraud at the Adani Group. It accused the group of pulling off the largest con in corporate history. “Adani Group has attempted to conflate its meteoric rise…wealth of its Chairman, Gautam Adani, with the success of India itself,” the report said. Adani dismissed the report as…
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Maryland is a blow to the culture of over-work.
A survey conducted by Gallup has revealed that employees’ engagement in their jobs was not affected by whether they worked a four-day week or not. “They can’t get all of their errands and family care [done] and taking their kids to activities, and even just a little bit of time for themselves,” Gallup said. The…
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The workplace has been overlooked because of the benefits of computer aided design.
The US Equal Employment Opportunity Commission (EEOC) on Tuesday held a hearing titled ‘Navigating Employment Discrimination in AI and Automated Systems: A New Civil Rights Frontier’ to examine how artificial intelligence (AI) and automation are being used to recruitment and hire people. Some 83% of employers, including 99% of Fortune 500 companies, are using some…
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Bob Born was the ‘Father of Peeps’.
Bob Born, who founded the Peeps confectionery company with his father Sam Born in 1953, said he was inspired to start the company while waiting to enrol for his medical degree. Born fell in love with the business while waiting for a class and decided to stay. He used his engineering skills to “mechanize the…
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A group of people from India have a strong reaction to the stock plunge.
Adani Group has accused the US investment firm Hindenburg Research of launching “a calculated attack” on India by publishing a report that alleged widespread fraud at the group’s ports-to-power conglomerate. Hindenburg said Adani Group shares are massively overvalued and it has taken a long position on them, meaning Hindenburg wins when Adani shares fall. “This…
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Congress will prohibit TikTok from the US government phone system.
TikTok on Thursday refuted a Forbes report that alleged the ByteDance-parent company wanted to use the video app to “monitor the personal location” of American citizens. TikTok said ByteDance’s Internal Audit team didn’t collect preciseGPS location information from US users. TikTok also claimed Forbes left off a vital part of its statement, which said ByteDance…
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Airfares are going up as demand increases, and Ryanair is making record profits.
Ryanair on Wednesday reported a record profit for the quarter ending December 31, 2018. The Irish carrier’s net profit for the July-September period rose to 23.5 billion from 14.1 billion a year ago. The company’s revenue rose more than twice that of the year-ago period to 88.7 billion. There were over 37.4 million passengers in…
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US gas prices are down from a year ago.
Gas deflation is alive and well in US as prices have been particularly steep in the state of California, Patrick De Haan, head of petroleum analysis at GasBuddy, said. However, De Haan added that lower energy prices could help reduce consumer inflation. The lower energy prices could help reduce consumer inflation, the US consumer price…
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Why right now is the best time to travel in 2023?
The world’s largest airline, Air France-KLM, has unveiled a double-beds system on its flights in the first and business class cabins. Air France has also rolled out a high wall for the first and business class passengers. It said it’s testing the system on at least three more of its flights later this month.
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It will not be easy to receive a $7,500 tax credit, if you buy an electric car.
The electric vehicle tax rules are designed to encourage carmakers to make all of their vehicles in the US, even if the country has a trade agreement with other countries. The tax rules are designed so tax credits aren’t going to wealthy Americans buying expensive luxury vehicles. Some vehicle models are made in more than…
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The 77-inch QD-OLED TV is bigger.
Samsung has announced that its S95C QD-OLED TVs will come with AMD’s FreeSync Premium Pro certification for ultimate OLED gaming experience. The company also claimed that “for the first time on an OLED TV, Samsung QD-OLED TVs come with AMD’s FreeSync Premium Pro certification for the ultimate OLED gaming experience”. Samsung launched the new QD-OLED…
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Larry David had predicted the implosion of FTX.
FTX’s former CEO Sam Bankman-Fried, who left the firm in November, told a Hong Kong judge that the firm’s trading affiliate Alameda Research was “being charged interest” on over $8 billion in claims. He added that he wanted to shift Alameda’s liability to an account that would not charge interest. FTX moved its headquarters from…
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Applause, skepticism, confusion, and frustration are characteristics of the Metaverse Struggles.
Meta, which is building an open virtual-reality system called’metaverse’, has launched a web-based version of its Horizon Worlds. The platform will let users access the metaverse via web browser. Users will be able to create their own virtual tables and create their own experiences in metaverse through the tool. Meta had spent $36 billion to…
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Trump filed a lawsuit to stop the New York AG from gaining access to the trust’s records.
The Trump Organization’s then chief financial officer Allen Weisselberg told a prosecutor that Donald Trump Jr, his son and former Trump Organization President, asked him to prepare “at least” 18 years of financial statements intentionally overvalued, according to documents. Weisselberg also said he spoke with Trump’s then-chief financial officer for over 25 years about the…
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The stock market news includes the S andP 500.
The US stock market saw its biggest single-day drop in nearly three months on Thursday after the government reported that retail sales growth in October was lower than anticipated. The Dow Jones Industrial Average fell 765 points to end the day at 17,939. The broader S&P 500 lost 77 points to end at 2,084, while…
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The September jobs report could signal a cooling trend after the hot summer.
US employment growth is likely to slow down in the coming months, but it will still remain solid in the coming months, analysts said. However, they added that the rate hikes by the Federal Reserve meant to cool the economy have only a limited impact on employers’ desire to hire more workers. “More people…come back…
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Westworld is going away from HBO Max.
Warner Bros. Discovery has decided not to include any more content write-offs as it prepares for the launch of its two new channels, ie ‘Discovery’ and ‘HBO Max’. WBD CEO David Zaslav said, “I think…the team has laid a great foundation, and I’m really excited about the growth from here.” “I think the team has…
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The investors are at a high inflation reading.
US stocks fell on Friday after employment data showed that the unemployment rate fell to 3.5% in December, the lowest level since January 2008. However, there was a lack of jobs growth in several parts of the country. The number of payrolls rose by 139,000 last month, while the unemployment rate fell to its lowest…
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The BMW i Vision Dee is an EV that can talk back to you.
BMW has unveiled its ‘Nomi: Towards a Realistic, high-Precision, Augmented Reality Concept for the Future’, called ‘i Vision Dee’. The new concept features a virtual face on the grille and a display across the entire width of the windscreen, which becomes recognisable once it is activated. The production version of the technology will be used…
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5 Russians and 2 Americans are accused of conspiring to violate sanctions by selling equipment to Russian military.
US government is looking to enforce sanctions against companies that sell drones to Russia, Iran and Belarus, CNET reported. It will encourage companies to “take enforcement action where appropriate” and help to reduce unauthorised resale, diversion and “unintended misuse” of their products. Several US companies, including Texas Instruments, U-Blox and NXP, said they are not…
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Sam Bankman- Fried wrote the book ‘House of Cards’.
Former CEO of FTX Sam Bankman-Fried is said to have helped bail out several cryptocurrency companies, including BlockFi and Voyager. “I waspiecing together what…happened at FTX,” he said. Bankman-Fried was arrested on Friday in the Bahamas for allegedly defrauding investors of billions of dollars in the collapse of FTX and its sister trading firm Alameda.