indian billionaire gautam adani is charged in the us with fraud over an alleged $250 million bribery scheme. the us government is calling for the break—up of google, removing its popular browser from the rest of the business. hello and welcome to business today. i'm steve lai. shares of adani group are plunging, adani enterprises are down 10% in the green subdued 18%, after the boss gautam adani is charging new york over allegations of massive fraud. mr adani, one of the richest people in the world, has been indicted along with seven oven defendants in connection with a bribery scheme involving one of the world's largest solar energy projects.

according to the indictment, on several occasions, mr adani, who has strong ties to indian prime minister narendra modi, personally met with an indian government official. the adani group did not immediately respond for more, let's get out to mumbai, where my colleague nikhil inamdar is standing by. what's the reaction in india this morning? the markets really don't look happy. the markets really don't look ha . _ �* , , the markets really don't look ha.--n_, , .,~ , happy. absolutely, the markets completely _ happy. absolutely, the markets completely punching _ happy. absolutely, the markets completely punching here - happy. absolutely, the markets completely punching here on i happy. absolutely, the markets| completely punching here on the adani down anywhere between 10% to 20% on the seven adani stocks listed here on india's exchanges. we have also seen some reactions coming in from significant investors into the adani group. from gq g. they say they are monitoring the situation and also reviewing the exposure to the group. there has not been a substantive statement yet from the adani group, but i picked up the adani group, but i picked up something from macro 3 green saying they have decided not to

proceed with their bond offerings —— adani green. the damage already felt on the adani group stocks. the opposition certainly is going to be doubling down on something like this and we have seen one of the opposition leader is tweeting saying that the indictment of gautam adani and others by the securities and others by the securities and exchange commission of the us vindicates the demand that the indian national congress has been making since january 2023 for a joint parliamentary committee investigation. he also went on to add the actions also went on to add the actions also cast a poor light on the manner in which the investigation has been conducted into adani. this begins ahead of the winter session of parliament in india so this is something that will be a bit of a hot potato. it certainly is. give us more background about mr adani and the adani group and why they are so prominent. he the adani group and why they are so prominent.— the adani group and why they are so prominent. he is one of india's most — are so prominent. he is one of india's most prominent - india's most prominent

businessmen. 0ften really either the first of the second richest man in asia. his empire straddles all parts of india's economy from infrastructure to airports to ports. it is also a group that is known to be politically connected, at least accused by the opposition of being very close to prime minister narendra modi, which is why this story becomes all the more important and we will through the course of the day wait for a potential reaction from the government and what has happened. important to know this is not the first time the adani group has been in the news. they were just about a couple of years ago accused by hindenburg, which is a us —based short seller, of market manipulation and accounting fraud that led to about $100 billion rout on the adani shares. this is now the third time that investors will be facing the pressures of the multiple charges that have been made against them. i just want to also flag up that when donald trump came to power,

gautam adani tweeted saying that they were promising a $10 billion investment into us energy infrastructure that would create 50,000 jobs. i think there is now going to be a big cloud on all of those operations in the us. thanks for getting — operations in the us. thanks for getting us _ operations in the us. thanks for getting us across - operations in the us. thanks for getting us across those i for getting us across those developments, from mumbai. the us department ofjustice has called for google to divest its chrome browser saying the tech giant should not be able to re—enter browser markets for the next five years following an anti—trust case ruling in august where google was deemed to have an illegal monopoly when it comes to online search and related advertising. let's go live to san francisco and join our north america tech correspondent.— join our north america tech correspondent. what happens next? what — correspondent. what happens next? what happens - correspondent. what happens next? what happens next - correspondent. what happens next? what happens next is l next? what happens next is google gets its chance to issue its own proposed remedies after what we saw today from the department ofjustice. the department ofjustice. the

department ofjustice is assuring some sweeping proposals in this filing today. you mentioned one of them, which is to have the company divest from its chrome browser, which is a competitor to apple safari and mozilla's firefox, the most used browser in the world. the concern from the government perspective in the us is that it has been a key access point that funnels users towards google's search engine. and the point of this case is to do away with the illegal monopoly that google was found to have. the other big part of this case is something we learnt in phase one of the trial, that google has these lucrative contracts with other companies including apple whereby it basically asks in exchange for billions and billions of dollars that these companies make, google's search engine, the default on devices and other browsers. so that is the other thing that really stood out to me in this filing, the doj wants to do away with

those contracts. and after google issues its proposed remedies, we will see the judge make a ruling a sighting with one side or the other in this case by next summer. is one side or the other in this case by next summer. is there any thought — case by next summer. is there any thought as _ case by next summer. is there any thought as to _ case by next summer. is there any thought as to how - case by next summer. is there any thought as to how the - any thought as to how the incoming trump administration may have an impact on this case given it involves such a high—profile tech company? absolutely. i should say that this case was absolutely, its origins lay in the first trump administration, it was first brought in the final months of 2020 when donald trump was still in the white house the first time around. and we find often that there is bipartisan agreement on issues within tech when they —— when there often is not on other topics. so there is that. but president—elect trump has been consistently inconsistent, i would say, on tech and on google in particular. just a couple months ago, we heard him say he wants to prosecute google because he doesn't like how stories about him are

surfaced on the search engine. he says that he thinks they contain bias and they are unfair. but they're not long after that, unfair. but they're not long afterthat, he unfair. but they're not long after that, he questioned whether it was a good idea to break up google, saying there is an issue of wanting to make sure the us remains competitive and even dominant, particularly against china. so the bottom line is we don't know. but in the extreme situation that donald trump were to comment on january the 20th and says he wants to do away with this case, there is this issue there are a number of us states involved in the case —— to come in. they could easily take the baton and run with it without the doj. but i don't think that is going to happen here. clearly, thanks for keeping us across that. —— lily. former hedge fund manager bill hwang has been sentenced to 18 years in prison for securities and market manipulation fraud. prosecutors said that the scheme cost wall street banks billions of dollars. hwang's archegos capital management collapsed in march 2021, wiping out $100 billion

in market value. the sentencing hearing is expected to resume on thursday. turning to earnings — nvidia has reported another record quarter, with revenue nearly doubling year—on—year, as ai chip demand remains strong. the latest results got mixed reaction from wall street, with nividia shares down in after—hours trading. investors are paying particular attention to revenue coming from blackwell ai chips, with chief executivejensen huang saying the line—up is in full production. the chips were meant to be shipped by the end ofjuly, but were delayed due to design flaws. here's tech analyst kirk boodry wih his reaction to this latest earnings report. the first point is that the revenue growth is quite healthy. i know the headline numbers, when you look at it on a relative basis, have been coming down. it was 97% this quarter,

supposed to be 70% the fourth quarter. but the absolute change is in tens of billions of dollars when you look at the growth year—on—year, and that hasn't changed very much. what do you make about this report about these blackwell chips that have been overheating? we've seen nvidia's stock price take a bit of a hit today. your thoughts on that, do you think it will have an impact, going forward? there is going to be volatility in the near term for issues like this. it's a new product cycle, there's always kinks that need to be worked out. whether you can get all the components — in this case, server design — to make sure everything's working properly. these are tweaks, as opposed to major corrections. we think that as you get into next year, the deliveries do start to come through and it'll be a smooth process once again. now, nvidia's been the market leader when it comes to chips, do you see the competition getting close, or is it heating up at all? no. i mean, the short answer, you're not seeing that. i mean, the revenue growth that they're posting is so far above

the rest of the semiconductor industry, which hasn't grown in double digits since 2002. whether you can have existential external threats from other companies is a possibility, but you're probably years away from that, you know, being able to even analyse that. turning now to google, which might soon be required ford has announced plans to cut 4,000 jobs across europe. almost 3,000 will go in germany, while britain will lose about 800 posts. ford says the car industry is experiencing unprecedented disruption. it's facing intense competition, especially from chinese brands, strict new environmental rules and weaker—than—expected sales of electric vehicles. shareholders at campbell soup company have agreed to drop the word "soup" from the firm's name, after more than 100 years. the company — famed for its red—and—white—label soup cans — said the change would help reflect its full range of products, adding that soup would always be on the shelves. and that's it for this edition of business today. see you again soon.

hey, i'm ben, and this is the catch up! tonight — logan paul crypto controversy, a proposed social media ban, and a stunning space launch. but first, the friends, family and former bandmates of liam payne have gathered to remember the one direction star at his funeral today. it comes just over a month after he died at the age of 31. 0ur reporter mollie perella was there. it was a private, low—key ceremony here in amersham, in buckinghamshire. liam payne's coffin arrived in a white, horse—drawn carriage with flowers on top spelling out "daddy" and "son". his ex—partner cheryl was here, along with his girlfriend, kate cassidy. and there were othere celebrities too, including simon cowell and james corden, who all came to pay their respects. some other stories now. logan paul is facing questions over the way he has promoted certain cryptocurrencies. the influence of the social media star seems to have caused prices to spike, leading to suggestions he could have profited from selling the tokens he had.

he denies any wrongdoing. social media for under—16s could be banned. that's according to the government's tech secretary, peter kyle, who told the radio 4 today programme he would do what it takes to keep children safe online. and pep guardiola is staying at manchester city for at least another year. he's signed a contract until 2026, which will come as a relief for city. they're struggling for form on the pitch and facing 115 charges for alleged breaches of financial rules. and time now for ten seconds of funky space lights! this stunning light show was seen in the sky at the most recent spacex falcon 9 launch. the rocket took off from california and, as it left the earth's atmosphere, put on quite the show. right, you're all caught up. have a great night!

hello and welcome to sportsday with me, lizzie greenwood—hughes. here's what's coming up on the show. staying — pep guardiola agrees to make his manchester city career a decade long. italy celebrate, after claiming their first billiejean king cup in 11 years. and we hear from warren gatland on his future, as his wales team face a whole calendar year without a test win. hello again. we're going to start first of all with this man, pep guardiola, who has agreed to sign a new deal at manchester city. it's only an extra year, but by the time his new deal runs out, guardiola will have been at city for a decade. in that time, he's racked up 1a major trophies, but theirform has been patchy recently, and with

the financial fair play charges hanging over city,