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A jury has found Elon Musk liable for misleading investors by deliberately driving down Twitter's stock price in the tumultuous months leading up to his 2022 acquisition of the social media company for USD 44 billion. But it absolved him of some fraud allegations, finding that he did not "scheme" to mislead investors. The civil trial in San Francisco centered on a class-action lawsuit filed just before Musk took control of Twitter, which he later renamed X. Jurors were asked to decide if two tweets and comments Musk made on a podcast in May 2022 amounted to him intentionally defrauding Twitter shareholders, who sold their shares based on Musk's statements. The nine-person jury returned the verdict after 3 days of deliberation, nearly three weeks after the trial began on March 2. They said that while Musk was liable for misleading investors with two tweets -- including one said the Twitter deal was "temporarily on hold," he did not do so with a statement he made on a podcast and that
Even as tensions stemming from the West Asia crisis unsettle global markets, investors have shown little willingness to part with Adani Group's dollar bonds, despite a buyback by its ports arm, Adani Ports and Special Economic Zone Ltd (APSEZ). On March 12, APSEZ, India's largest private port operator, completed a cash tender offer to repurchase parts of two series of US dollar-denominated senior notes, trimming its outstanding debt by about USD 199.5 million, people with direct knowledge of the matter said. The offer covered up to USD 345.1 million of 4 per cent notes due in 2027 and USD 150 million of 3.10 per cent notes due in 2031, suggesting a potential buyback of roughly USD 495 million. Yet bondholders offered back far less than that. APSEZ eventually accepted USD 102.1 million of the 2027 notes and USD 97.5 million of the 2031 notes, they said. In effect, more than 60 per cent of investors chose to keep their bonds, declining the opportunity to exit through the tender ...
The framework for an interim trade agreement between India and the US sends a strong signal of confidence to global investors and offers a timely boost to competitiveness, technology access, and supply chain resilience, India Inc said on Saturday. India and the US on Saturday announced they have reached a framework for an interim trade agreement under which both sides will reduce import duties on a number of goods to boost two-way trade. FICCI President Anant Goenka said it marks a pivotal step forward in advancing economic synergy between two of the world's largest democracies. "This strategic partnership is designed to lower tariffs, ease regulatory bottlenecks, and unlock new opportunities across sectors. As India strengthens its position as a global manufacturing hub, this agreement offers a timely boost to competitiveness, technology access, and supply chain resilience". While the US will reduce tariffs on Indian goods to 18 per cent from the present 50 per cent, India will ..