US corruption charges against one of India’s richest men sent shares in his businesses reeling
More than $20bn in market value has been wiped off Gautam Adani’s corporate empire after US corruption charges against one of India’s richest men sent shares in his businesses from ports to power plants reeling. Adani Enterprises, the flagship of a sprawling group controlled by the businessman, closed down by more than a fifth on Thursday, shedding nearly $9bn a day after US prosecutors alleged that he hid a $265mn bribery scheme from investors and banks.
, an Adani shareholder, from 2016 to 2023. has said it is co-operating with US authorities and sacked the employees named in the indictment last year. Cabanes did not immediately respond to a request for comment.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
NHS to receive funding increase of more than £20bnHere's how the Autumn Budget 2024 will impact the NHS
Read more »
Verizon-Frontier deal goes to the wire as investors demand higher priceTelecoms group offered rich premium in $20bn deal but some shareholders may hold out for more
Read more »
JPMorgan’s Chase UK launches first credit cardDigital-only bank makes first foray into lending after amassing more than £20bn in deposits
Read more »
JPMorgan’s Chase UK bank launches first credit cardDigital-only bank makes first foray into lending after amassing more than £20bn in deposits
Read more »
Gautam Adani takes on plan to redevelop Mumbai’s biggest slumLocals and opposition parties denounce tycoon’s bid to rehouse 1mn people in crowded part of India’s financial capital
Read more »
India's Adani Group Plans $10B Investment in American EnergyGautam Adani, founder and chairman of Indian industrial conglomerate Adani Group, said in a social media post platform X on Wednesday that the company will invest $10 billion in energy and infrastructure projects in the United States.
Read more »