and a complex leadership transition from gautam adani to his two sons and two nephews is loaded with risk for the group, as well as the country and beyond. in a rare and exclusive interview in which adani would only discuss succession, bloomberg's anto antony asked the tycoon if the hindenburg report had an impact on his plans. anto: mr. adani, you said that the succession plan was conceived about 10 years back. now the last two years' incidents, the investigations, the hindenburg report, has it affected it in any way, the implementation? gautam: in hindsight, i can say that this incident makes family more together and work very hard to fight back. and i definitely basically see that they have converted this incident into the great opportunity for family uniteness. secondly, they have worked hard, and whatever corrections in each and every aspect of our businesses we have to do. and in fact, basically these hindenburg issues of this last year, for adani group history, it is the highest performance. >> as part of the succession plan, gautam adani's nephew, pranav, the eldest among the

summons have been delivered to gautam adani and sagar adani who is an executive at adani green, the companythe centre of the scribe re—charge and according to reports, there is a 21 day period in which gautam adani and nephew have to respond to those summons —— at the centre of the bribery charge. owing to this being between two countries, there may be us se to approach gautam adani and serve these summons by the poetic channels was up it is summing up legal challenges for the group at the centre of this bribery charge. this is the second blow in two years for the group company, they have lost over $27 billion worth of market capital in just the last week. some of the stocks have recovered their gains but the issues don't end here. there are reports that these charges are also being added to the existing cases against the company in the indian supreme court and that could come up in the coming days as well as additional legal challenge and the market regulator could also be looking at reopening and assessing some of the existing cases against the company and this certainly would add up to m

gautam adani, the chair of india's adani group, has been charged in new york over allegations of massive fraud. mr adani, who is one of the richest people in the world, has been indicted — along with seven other 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 to a request for comment. and has not issued a statement yet. let's go to mumbai. what has been the reaction in india this morning? well, steve, as you pointed out, there has not yet been a reaction or response from the adani group because it is early in the morning. we are expecting the adani group to come forward with a response. they will have to respond given the markets are just going to be opening and this will not go down well with the investors of the multiple adani companies listed on india's stock exchanges. usually, the adani has responded to this ki

adani group are plunging, adani enterprises are down 10% in the green subdued 18%, after the boss gautam adanis 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 group — of which gautam adani is chair — has denied the allegations, calling them "baseless, kenya has announced the adani group will no longer be involved the construction of its main airport, thejomo kenyatta international. the financial markets didn't like the news, with shares of adani group falling over 20% in thursday trade, wiping over a0 billion dollars off the group's overall value. our south asia regional editor, anbarasan ethirajan joins us now. good to have you here and talk to me about the significance of these allegations, denied by these allegations, denied by the company and the man himself but they are serious and they involve one of the world's richest men. it involve one of the world's richest men.— involve one of the world's richest men. , ,. , ., , richest men. it is described as a hue richest men. it is described as a huge body — richest men. it is described as a huge body blow— richest men. it is described as a huge body blow to _ richest men. it is described as a huge body blow to the - richest men. it is described asi a huge body blow to the adani gr

gautam adani, the chair of india's adani group, has been charged in new york over allegations of massive fraud. mr adani, who is one of the richest people in the world, has been indicted — along with seven other 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 to a request for comment. from new york, here's the bbc�*s north america business correspondent, michelle fleury. between 2020 and 2024, gautam adani and his co—defendants allegedly agreed to pay over $250 million in bribes to indian officials. to obtain lucrative solar energy contracts. during the same period, the adani group was trying to raise money from us investors. hiding the bribery scheme from them is the fraud that they're now charged with. with a business empire spanning coal, airports, cement and media, the chairman of adani group has been operating

the adani group — of which gautam adani is chair — has denied the allegations, calling them "baselesse the news, with shares of adani group falling over 20% in thursday trade, wiping over $40 billion off the group's overall value. 0ur south asia regional editor, anbarasan ethirajan joins us now. welcome, firstly, why is this indictment of adani and others indictment of adani and others in the us so significant? it is seen as a — in the us so significant? it is seen as a huge _ in the us so significant? it is seen as a huge blow - in the us so significant? it is seen as a huge blow to - in the us so significant? it 3 seen as a huge blow to the image of the adani conglomerate. more than $100 billion value and thousands of people work there and their interests range from coal mines and to renewable energy and airports and it is a big name in india and other countries, for example bangladesh, sri lanka, africa and even business interests in vietnam and the philippines. it is one of the biggest companies in the country. so indicting the chairman of the company and many others is seen as a

summons have been delivered to gautam adani and sagar adani who is an executive at adani green, the companythe centre of the scribe re—charge and according to reports, there is a 21 day period in which gautam adani and nephew have to they may need to use to promote it channels to diplomatically solve summons to indian nationals so that may take some time to officially come through and this is a civil suit by the us sec seeking permanent injunctions, monetary penalties and also restrictions on adanis to serve as officials on listed companies and this adds up to a criminal suit filed by the us federal prosecutors on the same bribery charges but the group has denied these allegations, the group's cfo in a post on eggs over the weekend, said the indictment relates to just one contract of adani green energy —— in a post on x. it amounts to 10% of their business and no other group from the adani group conglomerate is accused of any wrongdoing to stop legal experts say that while the legal challenges are mounting up legal challenges are mounting up for the company in the us, it will still seek som

one of the world's richest businessmen, gautam adani has been charged in the united states over an allegedrosecutors in new york said mr adani and other senior executives had agreed to pay more than a quarter of a billion dollars to indian government officials to obtain solar energy contracts. they said he then concealed that from american investors. the criminal charges are the latest blow to 62—year—old mr adani, one of india's richest men. his company, the adani group, is yet to comment on the charges. more on the story later this hour on business today. the us has vetoed a un security council resolution demanding an �*unconditional and immediate' ceasefire in gaza as israel's bombardment of the territory continues. in a 14—1 vote, the us rejected the measure because it says it was not contingent on the release of hostages still being held in gaza. 0ur north america correspondent, nada tawfik sent this report. this is the fourth time that the united states has blocked a gaza resolution during this conflict, using its veto power to shield its ally, israel. now, un officials have been sou

one of the world's richest men, indian billionaire gautam adani, has been charged with fraud in the usillion bribery scheme and concealing it to raise money in the us. shares in adani group companies have fallen sharply. around the world and across the uk. this is bbc news. e—waste has become the world's most frequently seized waste item by customs officials, according to new findings from the world customs 0rganisation. the un says 62 million tonnes of e—waste was generated in 2022, making it the world's fastest—growing waste stream. the illegal trafficking of e—waste from developed countries to the global south has become a lucrative business for organised crime. and as navin singh khadka reports from ghana's capital, accra, e—waste is a source of very harmful plastic pollution. tvs, car parts and electronic cables. they all go on the fire. burning e—waste in the open like this is illegal in ghana. this site was shut down by the government in 2021, but it's back again. abdullah is one of those who earn their living here. what's going on here, what is this? we're just burning for copp

for more on gautam adani's charges and the dramatic market reaction, check out cnbc.com.e appreciate you joining us. >>> moving on, u.s. president joe biden has moved on to $4 billion in loans to ukraine. this is announced as the outgoing accident is looking to shore up aid for kyiv. in the meantime, ukraine has fired missiles at targets in russia according to multiple outlets. the uk policy shift follows that of the u.s., the day after ukraine used u.s. missiles to strike russia. ukraine's military said moscow launched a ballistic missile from southern russia today. the first time russia has used such a powerful long-range missile during the war. it was unclear with a was targeted or any damage done. the spokesperson declined to comment on that report. let's unpack all of this and get you a sense of what it means for your money. christopher grandholm is here with us. good to have you with us. can i get your reaction to what you have just heard and most importantly, what is the biden administration strategy allowing the use of these american made long-range missiles into

for google to divest chrome. >>> kelly ortberg highlighting wasteful spending at boeing. >>> and gautam adanin bribery schemes. ing out $15 billion of value. adani is dahling 52%. >>> shares of snowflake surging ahead of the open. the company raising its full-year guidance. it's up 22%. >>> boston fed president said more interest rate cuts are needed, but should proceed carefully. collins said they are well positioned to address inflation and employment. >>> and the wall street journal reporting that musk's start up raised $5 billion. >>> that does it for me on "worldwide exchange." "squawk box" starts right now. >>> good morning. nvidia shares putting pressure on the futures. the a.i. chip maker sales doubled, but just wasn't enough for wall street. maybe it was the outlook. >>> bitcoin continues to boom. currency surging this morning closing in on $98,000. >>> the top banana in duct tape probably the most spent on those two items ever. it's thursday, november 21st, 2024 and "squawk box" begins right now. >>> good morning. welcome to "squawk box" here on cnbc. we are live from the nasdaq mar

one of the world's richest men — indian billionaire gautam adani has been charged with fraud in the use and concealing it to raise money in the us. shares in adani group companies have fallen sharply our business correpsondent in india, archana shukla, gave us her analysis. $200 billion ports to renewable energy to coal company with businesses spanning across and, in fact, adani is one of the important players and big players in the green energy space, with the indian government's ambitions to take the green energy, you know, targets ahead for india. so certainly all the eyes are there. but at the same time, it's a company that has been under a lot of criticism and question for its proximity to prime minister narendra modi, where political opposition has been calling for a joint parliamentary probe into some of the scams that have, you know, been named, of the adani group. also including the hindenburg report and definitely this, you know, the additionalfraud charges coming in now are adding to the political storm in india. so both on the economic and the market side as well as on the

states.according to reports, the us securities and exchange commission has issued summons for indian tycoon gautam adanit week by federal prosecutors against mr adani. professor nirmalya kumar from the singapore management university says there is little chance mr adani will be extradited to the united states. india has an extradition treaty with the us but i suspect this government in india is going to be very reluctant to hand over adani to them so i think in the short run, i don't see how they

turning to india, where we are following the latest after us prosecutors charged tycoon gautam adani utives with fraud. shares of the empire — with businesses extending from ports to renewable energy — have been hit. the adani group has denied the allegations, calling them "baseless". the bbc�*s archana shula joins us now. archana, what has been the fallout? the confidence is shaken for both business partners and investors and we see that in the stock markets were on a second day of trade all of adani stocks have opened five or 10% lower in trade. after losing about $34 billion in the overall group valuation in thursday's trade and it affected stocks and bonds will continue to be under pressure because the reputational damage and governance concerns will not go away so easily. the impact of this has already been felt on business. we have seen the canyon government cancelled two of the big large deals they had. 0ne two of the big large deals they had. one or $2 billion deal to revamp the nairobi airport and $735 billion deal to set off power transmission lines for the big projects for

legal challenges for indian tycoon gautam adani are mounting in the united states.mounting in the united states. we'll have all the details. plus... what lies ahead for artificial intelligence industry, with the incoming administration of president—elect donald trump?

turning to india, where we are following the latest after us prosecutors charged tycoon gautam adani ecutives with fraud. shares of the empire — with businesses extending from ports to renewable energy — have been hit. the adani group has denied the allegations, calling them "baseless". the bbc�*s archana shula joins us now. archana, what has been the fallout? the investor as well as partners for both the confidence are shaken. we saw in the stock market trend yesterday where overall the group stocks lost about $34 billion in market valuations, all the stocks in the group companies were battered and stocks and bonds of the company are expected to remain under pressure in becoming trading sessions as well. the indictment charges are all pretty hurting business. we heard the canyon government council two major deals, $1.25 billion deal to revamp the nairobi apple and another 735 million dollars deal to set up power transmission lines. these were big businesses that adani were big businesses that adani were counting on as part of its big global expansion plans these cancellations may als

gautam adani, the chair of india's adani group, has been charged with a massive fraud.i, one of the world's richest people has been indicted — along with seven other defendants — in connection with orchestrating a $250 million bribery scheme. us prosecutors allege the tycoon and other senior executives bribed indian officials to win contracts for his renewable energy company. it's expected to make profits of around $2 billion over the next 20 years. the adani group has denied the allegations, calling them "baseless". but it's been enough to spook investors. shares of adani group fell over 20% in thursday trade, wiping over $40 billion off the group's overall value. from new york, here's our north america business correspondent, michelle fleury we cannot bring you that clip from michelle, but let's talk to our correspondent in them by. let's cross live now to archana shukla in mumbai. give us the reaction there to this. �* . give us the reaction there to this. ~ ., ., , ., , this. the adani group has denied all _ this. the adani group has denied all of _ this. the adani

between 2020 and 2024, gautam adani and his co—defendants allegedly agreed to pay over $250 million inals to obtain lucrative solar energy contracts. during the same period, the adani group was trying to raise money from us investors. hiding the bribery scheme from them is the fraud that they're now charged with. with a business empire spanning coal, airports, cement and media, the chairman of adani group has been operating under a cloud in the us since 2023, when a high—profile company published a report accusing it of fraud. the claims, which mr adani denied, prompted a major market sell—off. during the us presidential election, mr adani threw his during the us presidential election, mr a the threw his during the us presidential election, mr a the flagship s 10% to 22% on the flagship adani enterprises stock the last time i checked. and this essentially has now taken the market capitalisation down by $22 billionjust market capitalisation down by $22 billion just this market capitalisation down by $22 billionjust this morning following those charges of course that had been levelled or

states.according to reports, the us securities and exchange commission has issued summons for indian tycoon gautam adani his nephew sagar adani.they are accused of engaging in hundreds of millions of dollars in bribes, this comes on top of criminal charges brought last week by federal prosecutors against mr adani. professor nirmalya kumar from the singapore management university says there is little chance mr adani will be extradited to the united states. india has an extradition treaty with the us but i suspect this government in india is going to be very reluctant to hand over adani to them so i think in the short run, i don't see how they can get to him or his nephew. how significant is this then in relation to the criminal charges brought against adani last week was good this is a very significant thing, i'm not downplaying that and the fact of the matter that legally, india may be have put pressure on to release him to the us authorities but you have to remember that we are in the midst of an administration change in the us and it is not entirely clear that donald trump, the incoming president, wil

adani group, the indian conglomerate owned by the billionaire gautam adani, has begun to cut electricitya payment dispute. bangladesh owes nearly $800 million to adani for the power supply amidst the current political and economic turmoil. let's get more on this with our india business reporter archa na shukla. what's going on? well, if you look at bangladesh's - what's going on? well, if you i look at bangladesh's government power grid data, from october sist, power grid data, from october 31st, adani group has halved the exports of power to bangladesh from its 1600 megawatts coal—fired power plant in eastern india. reports say they have threatened that if the payment plan is not in place by the next few days, the company will cut complete supplies. adani's supplies account for 8—10% of the overall power demand in bangladesh. so any cut would definitely impact millions of bangladeshis who have a consistent power supply in their homes. the dispute is over $800 million of payment due, which last month adani said had become unsustainable. 0fficials said had become unsustainable. officials

indian billionaire gautam adani has been charged in new york over an alleged bribery scheme involvingurity council resolution on a gaza ceasefire, drawing criticism from other member nations. and australia introduces legislation to ban those under 16 years of age from accessing social media.

indian billionaire gautam adani has been charged in new york over an alleged bribery scheme involvingvetoes a un security council resolution on a gaza ceasefire, drawing criticism from other member nations. and australia introduces legislation to ban those under 16 years of age from accessing social media.

prosecutors charge billionaire founder gautam adani over an. alleged $250 million bribery scheme.onglomerate scraps its $600 million bond sale. following that indictment. and ukrainian forces fire british cruise missiles at targets inside russia for the first time. bloomberg learning, meanwhile, that the biden administration is planning to cancel $4.7 billion of debt owed by ukraine. and we've seen these markets volatile. to the geopolitics and the news flow out of ukraine. of course, we check in on the markets right now with european futures pointing modestly higher after a flat session yesterday, pointing to gains of 3/10 of a percent. here in the u.k. the ftse 100, looking to add 32 points, up 4/10 of a percent. commodities getting a lift so far in the session. s&p futures pointing lower by 2/10 after a flat session on wall street as well. just below that 6000 level. nasdaq 100 futures pointing lower by 57 points. and certainly nvidia will be part of the story there. flip the board. let's have a look at what's happening in the treasury markets. you had a 20 year auction not as

indian billionaire, gautam adani and others indicted by the justice department in the heme to pay officials $250 million to seek $250 billion in contracts. the claims against the company's chair are baseless. shares of adani green energy fell by 20% in india overnight. back in january of 2023, short seller hindenberg called it the largest con in corporate history. adani also denying those allegations. >>> meantime, let's get to the latest on the trump team building sessions. we had a few more names out there, but still no treasury pick just yet. megan cassella is now joining us from west palm beach for the latest. we are waiting for the white smoke to go up. >> reporter: we are sure are, andrew. good morning from west palm. like you said, no big names this time. a quiet day overall yesterday. we know the president-elect was hunkering down at mar-a-lago meeting with two top treasury candidates. kevin warsh meeting with trump about the position. we think that pick is imminent coming today or as early as this week, i heard the team soft circled by thursday to get this pick done. it looks like