Indian Adani companies lose $65 billion in value | Business and Economy News

Most Adani Group shares fell sharply on Monday as the Indian conglomerate’s rebuttal of criticism from a US short seller failed to appease investors, deepening a market rout that has now resulted in losses of 65%. billions of dollars in the value of the group’s shares. Led by Asia’s richest man, Gautam Adani, the Indian … Read more

Credit Suisse looks to the Middle East to increase its capital | Business and Economics News

Credit Suisse Group AG has turned to Middle Eastern sovereign wealth funds for a capital raise, news agencies report. The scandal-hit Swiss bank has approached at least one Middle Eastern sovereign wealth fund for a capital injection, Reuters reported on Monday, citing an unnamed source. Abu Dhabi and Saudi Arabia are considering whether to invest … Read more

Biden’s job proposal could shake up the gig economy | Business and Economy News

The US Department of Labor has proposed a rule that would make it harder for companies to treat workers as independent contractors, a change that is expected to upend ride-sharing, delivery and other industries that rely on gig workers. Gig Company shares were hammered on the news, with Uber, Lyft and DoorDash all falling at … Read more