and fraud, which led to a wiping out of market capital worth over $100 billion of the adani group.ani's stocks trading down and losing about $9 billion so clearly this is a controversy that is here to stay and dominate headlines. in other news: tensions in the middle east have led some airlines to extend their suspensions of flights to several countries. air france and its subsidiary transavia france have cancelled flights to beirut until at least thursday. germany's lufthansa group — which includes austrian airlines and swiss — is avoiding tel aviv, tehran, beirut and amman until at least august the 21st. it added that it would avoid using iranian and iraqi airspace until the same date. the british telecoms giant bt group is having a change of ownership. the company controlled by french billionaire patrick drahi is selling its 24.5% stake to a company run by indian billionaire sunil bharti mittal for about $4 billion. bharti enterprises operates in 17 countries and says it has no intention of trying to buy the rest of bt group. the company is in the process of investing billions t

judge, jury and executioner for adani. how do you have a regulator connected to adani?e thing stinks. we would like an independent regulator, something where india has a beautician for investment that is at stake. we cannot be seen to be opaque. we cannot be seem to be slow. we must take quick action. paul: adani claims that these, uh, uh, allegations are politically motivated. what is your view? >> he blames everyone from the prime minister to george soros. he says george soros is controlling india so until he can come up with a better excuse we are not stopping. [typing sense] paul: indianpaul: member of parliament, thank you for joining us. we will talk to indian legal firm about regulation in light of short-sellers allegations up next. this is bloomberg. ♪ paul: welcome back to bloomberg markets: asia. let's look at indian markets, softer here. big day for india, cpi due out in july. rbis at staying on hold. let's look at stocks, hindenburg accusing the regulator of a conflict of interests, they strongly denied the claims saying they have adequate mechanisms. seeing

it still to come we talk with adani's nephew, running the adani group energy business. more in our exclusive series taking you inside the indian conglomerate, coming up. this is bloomberg. ♪ why do couples choose a sleep number smart bed? can it keep me warm when i'm cold? wait, no, i'm always hot. sleep number does that. during our biggest sale of the year, save 50% on the sleep number® limited edition smart bed. shop now at a sleep number store near you. ♪♪ ♪♪ relax into a caribbean state of mind. visit sandals.com or call 1-800-sandals. tim walz: donald trump not fighting for you or your family. he never sat at a kitchen table like i grew up back, wondering how to pay the bills. he said in his country club in mar-a-lago, wondering how he could cut taxes for his rich friends. paul: that is vice presidential candidate tim walz speaking at a campaign rally in pennsylvania a few hours ago. let's get over to our news desk editor. his relationship with beijing, will it be trouble or a benefit for vice president harris? >> first of all, it tim walz is really the first candi

paul: that is adani group chairman gautam adani speaking exclusively with our south asia editor.joins us now for more from mumbai. some impressive axis you got there but some topics apparently are off-limits there. what were your key takeaways? anto: we got unprecedented access to gautam adani and his family so we spent almost a dozen days listing all their assets, spending time with them and so on. as you know, this is one of the largest wealth transfers which is underway globally and gautam adani is overseeing it. as of now, he is 62. by the time he turns 70, he plans to hand over the empire to his scions, his two sons and his nephews. so how quickly he is overseeing the transition is what he explained to us in detail. one of the key takeaways is one thing that i learned is that once gautam adani steps aside, the group is looking at more balanced and measured growth and one key focus is going to be risk negation so that those who days of unbridled growth may be over for the adani group. they will be looking at more measured growth going ahead as the succession happens. paul: ga

and fraud, which led to a wiping out of market capital worth over $100 billion of the adani group. also a adani's stocks trading down at about $9 million so clearly this is a controversy that is here at about $9 billion so clearly this is a controversy that is here to stay and dominate headlines. in other news: tensions in the middle east have led some airlines to extend their suspensions of flights to several countries. air france and its subsidiary transavia france have cancelled flights to beirut until at least thursday. germany's lufthansa group — which includes austrian airlines and swiss — is avoiding tel aviv, tehran, beirut and amman until at least august the 21st. it added that it would avoid using iranian and iraqi airspace until the same date. there's been another reprieve today for one of china's largest property developers — kaisa group holdings — for now at least. a hong kong court has adjoured the hearing into the developer's liquidation until the ninth september — the second adjournment in three months. kaisa now has four weeks to come up with a debt restructuring p

adani dismisses allegations -- >> it has been a volatile a few years for adani.ire has built the adani group into a sprawling conglomerate that controls critical infrastructure projects in one of the world's fastest-growing economies. it has made adani one of the world's richest people but it has attracted accusations of cronyism over his close ties with the prime minister as well as questions about corporate governance. in january 2023 those concerns erupted onto the global stage when hendon berg research accused the adani group of stock-price manipulation. though they deny accusations the report still triggered a meltdown in shares of the groups listed firms and cast a shadow over the company just as it was eying a wider global play. the stocks have since paired most losses and the adanis have pried up fresh financing. they won a reprieve from india's supreme court. but fears linger as investigations by india's market regulator and the u.s. department of justice continue. it is with this backdrop that the 62-year-old founder spoke with bloomberg to say he is se

paul: i want to get your call on adani.r earnings and share price by the end of the year? >> we believe that the company can deliver over the medium-term . and with the improvement and realizations that we typically see on an annual basis, the company should be able to hike over the medium-term, including an fy 2025. paul: institutional equities executive director and research analyst from a infrastructure capital at access capital. thank you for joining us. giving you some breaking news from the democrats national committee. kamala harris is now officially the presidential candidate. really confirming what we knew all along, but it is now official. kamala harris has formally won the democratic nomination. so the results of the electronic roll call with 99% of participating delegates voting for vice president harris with 4500 76 delegates from across the states casting their vote for her. , kamala harris the official nominee. we are awaiting to hear her woo her vice presidential period will be, and we are expecting that imm

exclusive insight on the infrastructure ambitions on the adani group. we will ask about the hindenburg short seller allegations. >> i think it was definitely a stressful and tough time. emotions were high. paul: let's check in on how markets are phasing -- bearing. stocks and japan are back in the green. avril: seeing a bounce after starting the day on the back foot. declines of two point 5% on the nikkei and those were coming against the backdrop of what we saw on wall street after a week treasury auction given how low yields were. there was very little appetite for treasuries and that is what set sentiment in these u.s. stocks, we saw major indices closing lower, u.s. futures picking up slightly but we are also keeping a watch on what we see on the yen as we see it erasing the gains from earlier in the session. relatively weak still. the offshore yen is one to watch as we got it at 7.08 not long ago. the pboc and fed expected to ease but it is interesting how the fed could ease more is -- more aggressively. today we got the pboc coming through with th

this is the first time gautam adani has been talking about succession.ed value starts at around $213 billion and they span across sectors from oil and gas, power, green energy to logistics, as well as holding and operating most of the ports and operating most of the ports and airports in the country so the transfer of wealth and management for a complex structured conglomerate like that of adani would be complex, take time but also would be important for india's economy considering the high stakes they hold but gautam adani did stop short of saying anything on the controversies surrounding his companies. mi surrounding his companies. all riaht, surrounding his companies. all right, archana, we will have to leave it there. thank you very much that update. southeast asia could be poised to dethrone china when it comes to foreign direct investment. that's one of the key conclusions made by a report co—authored by bain and company which also pointed out that economic growth in the region is set to outpace china. charlie 0rmiston explains why southeast asia i

and adani also looking at selling off portions of its business as well.nters green hydrogen, consumer goods division that might be sold as well. i beg your pardon it's just the consumer goods division that is being listed. next week, we're going to have a special in-depth coverage of the adani group. we will be speaking exclusively with asia's second richest person as he oversees what's turning into a real like succession story. we'll see who he has handpicked. concerning india's economy. we will have a special report. let's take a look at market checks more broadly. and yeah, red is the theme of the day. we're seeing some pretty heavy second. the topix entering correction. it's down 10% from its july peak. right now down 4.6% on the day. it's now just below its 200th day moving average. so we'll see a major support lines hold from here. tech particularly bearing the brunt of the -- baring the brunt of the selloff but weeker on the equity front. we've got important data coming out of the u.s. is it nonfund payrolls. these are going to be very closely watc

buch, her husband, the indian regulator, as well as the adani group, have denied the allegations.sion laid out an ambitious growth road map over the weekend, as it tries to drive customers back to its theme parks. the company announced plans for four new cruise ships and six new theme lands, including one dedicated to new disney villains at the magic kingdom in florida. disney has seen slowing attendance at its domestic theme parks, as customers cut back on spending — a trend it expects to continue over the next few quarters. speaking of disney — "deadpool and wolverine" made box office history on sunday — becoming the second film this year to have grossed over a billion dollars, with the first being inside out 2. the massive success of both these films will be a boost for disney, which had a string of losses last year. and that's it for this edition of business today. thanks for watching. i will see you at the same times tomorrow. goodbye for now. hello and welcome to sportsday, with me, chetan pathak. coming up on the programme — au revoir, paris 2024 — after over two weeks of c

coming up, the adani group infrastructure ambitions. ask one of its next generations to believe the hindenburg short seller. >> very stressful and tough time. emotions were high. i can't believe you corporate types are still calling each other rock stars. you're a rock star. we're all rock stars. oooo look look at my data driven insights, i'm a rock star. great job putting finance and hr on one platform with workday. thank you! guys, can you keep it down. i'm working. you people are (guitar noises). hand over the air guitar. i've got another one. tom: welcome back to bloomberg daybreak: europe your get more now and our exclusive series on the next generation of leaders being groomed to run india's $213 billion adani group. jake adani is the youngest son of the conglomerates founder and heads their air force and defense businesses. the 26-year-old was a relative newcomer when short seller hindenburg's allegations of fraud it last year. how it impacted him and his family. >> the youngest son of an indian billionaire. as part of the tycoon

despite the adanis denying the allegations of stock

a comment from the adani group or the lender itself. come, this is bloomberg. ♪ paul: let's take a look at how markets are tracking in asia this monday. a bit of a dip in the dollar spot index. some other interesting moves in forex as well. the index at a march low. taking a look at the yen, strengthening. it has been an interesting day for the yen. the yen strength having somewhat of an effect on the nikkei which is now off by more than 1%. we have two-year jgb's climbing to the highest we've seen in more than two weeks. trade is looking ahead to the governor's testimony to parliament that happens at the end of the week. that is it from bloomberg markets: asia. stay with us, horizons middle east & africa coming up next. this is bloomberg. ♪ >> the following is a paid program. the opinions and views expressed do not reflect those of bloomberg l.p., its affiliates, or its employees.

hindenburg research accused the adani group of pulling off wha

in particular, we are focusing on the adani stocks.w that group of companies take it on monday. just off by a few points over the 66 just up by a few points. adani stocks are doing a little bit better, recovering after the selloff. we do have a situation where hindenburg, the short now accusing the regulator chief of a conflict of interest. it is strenuously denying that. adani itself also calling those allegations baseless and we are seeing a little bit of a rebound the was the group of companies today. plenty more to come. this is bloomberg. ♪ paul: india's banks are expanding into new geographies and business is driven by a nationwide burn back of her strong time of economic growth. but the pressure to deliver has yielded worrying effects from the world's worst attrition rates for bankers. for more, let's bring in our south asia economy editor. thanks for joining us. i was just wondering if you could describe some of the pressures and i'm told a little bit about that attrition rate the indian bankers of face. can you hear me ok? can

india's adani groupd faced a massive stock sell—off on monday, wiping out over $2 billion of the marketreport from the us hindenburg research which accused the boss of the capital markets regulator of having conflicts of interest that prevented an in—depth approve of the fraud allegations. the enterprises will become the largest shareholder of britain's bt group after buying a 25% stake in the company, which belongs to the telecoms tycoon whose group has been struggling with high debt levels. the acquisition cost roughly $4 billion with the telecom giant saying it has no plans to buy the rest of the uk company. india's retail inflation fell below the target for the first time since 2019, prices rose 35% injuly, slightly below the target of 4% and like most of the world, india has been trying to combat high inflation. the country's cost of borrowing rate currently sits at 6.5%. that is if it is there for this edition of business today, from singapore, thank you for watching. hiya. i'm betty with the catch up. tonight — miley cyrus is a legend, water on mars and a flamingo adoption. a man

hindenberg called out adani in 2023.f ftse 100 ceos rose by more than $600,000 last year reaching the highest level since 2017. the median pay is $5 million, up 2% from last year, but still lagging the figure from 2022. that pale ns into comparison to the u.s. ceo which rose last year. >>> coming up, one word every investor needs to know and the big disney unveil and if that is enough to move the stock. keep it right here. the disney story. we'll be right back. rs. today's challenge is to play 9 holes without the middle of your bag. how does that sound? that sounds terrible. ♪♪ ♪♪ ♪♪ ♪♪ at aes, our energy solutions have powered the world forward for more than 40 years. and as demand continues to scale, so do our solutions. introducing maximo - our new ai-enabled solar robot. max makes construction faster, safer and more cost effective than ever before. and with max doing the heavy lifting, even more people can join the team. solar energy is changing the world, aes is changing the world of solar. what is cirkul? cirkul is

hindenburg published a paper saying adani and her husband invested.indenburg says the investments were made two years before they were appointed to the securities and board of india. the couple calls the allegations baseless. the philippine president has blasted actions by china's air force against a philippine plane over the south china sea as unjustified, illegal, and reckless. that is after a video purportedly showing a chinese plane dropping flares into the path of affair -- of a philippine air force patrol. it happens as the two sides are trying to ease maritime tensions. coming up, africa's top gold producer opens a new refinery. 400 kilograms of the new metal produced every day. the latest on that refinery is next. this is bloomberg. ♪ i can't believe you corporate types are still at it. just stop calling each other rock stars. and using workday to put finance and h.r. on one platform. tim, you are a rock star. using responsible ai doesn't make you a rock star. it kinda does. you are not rock stars. (clears throat) okay. most of you are not roc

. >> in january 2023, just after indian billionaire gautam adani toppled jeff bezos to become the world'son, a new york based short seller

though still in its early 30's, he's already spent nearly a decade at the adani group.on plan envisaged by his uncle, he is now in charge of the groups lucrative but contentious energy business. that means he is well-placed to answer the many questions investors still have about allegations made against the group last year by the short seller hindenburg research which they have denied. grexit 150 billion other way about have been -- happened in the group's wealth or the family's wealth because all of this was very low i am assuming. chris that is a perception that is very different from reality. at that point in time i would say this report came as a shock to many people who were not expecting anything of the sort. our viewpoint, everything that was alleged over the last 10 years, it was very beautiful gift wrapped and presented in a way that was explosive and shocking so to speak. this would deliver the best results the group had ever delivered. this focus is on the and sustainable energy and with the cw push towards that, what we do would be a very small proportion. >

new allegations involving india's adani group hit the company's stock price, wiping 9 billion dollarsworld's financial markets are hoping this week will be somewhat more settled. monday's session in asia has been more muted and european markets are recovering. and there's not a lot of movement on wall street as us markets start their trading day because the focus is really on wednesday. that's when we get the latest us inflation data. the last reading showed prices rising at an annualised pace of 3% injuly, which is ahead of the 2% target that the central bank the federal reserve aims for. and that will have a big impact on interest rates. they are currently at a range of 5.25% — 5.5%. but a cut is widely expected in september. and with the us election campaign in full swing over the weekend the republican vice—presidential candidatejd vance has been reiterating what his new boss donald trump thinks about the future of interest rate decisions. he told cnn that �*the political leadership of this country should

. ♪ >> in january 2023, just after indian billionaire gautam adani toppled jeff bezos to become the world'srichest person, a

>> in january 2023, just after indian billionaire gautam adani toppled jeff bezos to become the have learned from my interview is leaders make it to the top. i did not negotiate and did no due diligence. walks and how they stay there. >> you don't feel inadequate being only the second wealthiest man in the world? >> all over the world people are fascinated to learn more about their family history. the company a company now led by deb liu, a technology expert previously working at paypal and facebook. i had a chance to sit down with her to learn why it is people are so interested about their ancestry. so tell me this, what does ancestry do for its customers? deborah: ancestry has over 3.6 million active subscribers, and these subscribers come to learn more about their history. they're building their family tree, discovering new content, they are building their family story every single day on our platform. we also have a business in consumer genomics. 23 million people have taken their dna test, and we can show you a little bit more about your family history through genetics. really w

new allegations involving india's adani group hit the company's stock price, wiping $9 billion off itse settled. monday's session in asia has been more muted and european markets are recovering. and there's not a lot of movement on wall street as us markets start their trading day because the focus is really on wednesday. that's when we get the latest us inflation data. the last reading showed prices rising at an annualised pace of 3% injune which is ahead of the 2% target that the central bank the federal reserve aims for. and that will have a big impact on interest rates. they are currently at a range of 5.25% — 5.5%. but a cut is widely expected in september. and with the us election campaign in full swing over the weekend