MSCI Seeks Feedback On Adani Group Over Hindenburg Report

by GalaxyNews | Jan 28, 2023 | Economy

Index provider MSCI said on Saturday it was seeking feedback on Adani Group and associated securities and was aware of a report issued by short-seller Hindenburg Research. Seven listed companies of the Adani conglomerate – controlled by one of the world’s...

Fashion Retailer H&M’s Profit Tumbles As Costs Bite

by GalaxyNews | Jan 27, 2023 | Financial Market

Sweden’s H&M reported on Friday a much larger than expected drop in September-November profit, hit by weak consumer confidence and soaring costs that it did not fully pass on to price tags, sending its shares down 7% in early trade. Operating profit in the...

Asian Stocks Rise Tracking Positive U.S. GDP, Adani Extends Losses

by GalaxyNews | Jan 27, 2023 | Economy

Most Asian stock markets rose on Friday as appetite for risk-driven assets was supported by better-than-expected U.S. economic growth data, while Indian stocks extended their descent as heavyweight Adani remained under pressure from a short seller report. Overnight...

Oil Treads Water Ahead of OPEC+ Panel Meeting, PCE Inflation Data

by GalaxyNews | Jan 27, 2023 | Financial Market

Oil prices moved little on Friday and were set to end the week flat amid caution over an upcoming OPEC+ panel meeting, as well as more cues on the U.S. economy from a reading on the Federal Reserve’s preferred inflation gauge. Ministers from Algeria, Kuwait,...

Flavour Maker Givaudan Beats Earnings Forecasts in a Tough Year

by GalaxyNews | Jan 25, 2023 | Financial Market

Swiss fragrance and flavour maker Givaudan on Wednesday reported better-than-expected earnings for a year characterized by high input costs and supply chain disruptions. The group, which so far has successfully passed steep input cost increases on to customers,...