the latest allegations by hindenburg research ahead the latest allegations by hindenburg research accusetor, the securities exchange board of india, of having links with offshore funds also used by adani associates. it is also important to point out here that there is no direct evidence given of the investment having any links to a adani's stocks or any quid pro quo. having said that, the head of india's market regulator issued a statement denying any kind of conflict but did admit to having a small share in those funds. but this has been enough to blow into a massive political controversy, with india's opposition parties demanding a parliamentary investigation and, in fact, for a very long time, opposition parties have said that the meteoric rise of at adani is thanks to his proximity that the meteoric rise of adani is thanks to his proximity to prime minister narendra modi. an allegation that both the bjp and the prime minister and arranger and the prime minister and modi, have always vehemently denied. and even in this case the group issued a statement calling the hindenburg report mi

the latest allegations by hindenburg research ahead of india's market regulator, the securities exchange links with offshore funds also used by adani associates. it is also important to point out here that there is no direct evidence given of the investment having any links to a adani's stocks or any quid pro quo. having said that, the head of india's market regulator issued a statement denying any kind of conflict but did admit to having a small share in those funds. but this has been enough to blow into a massive political controversy, with india's opposition parties demanding a parliamentary investigation and, in fact, for a very long time, opposition parties have said that the meteoric rise of at adani is thanks to his proximity to prime minister narendra modi. and allegation is that both the bjp and the prime minister and arranger modi, have always vehemently denied. and even in this case the group issued a statement calling the hindenburg report mischievous, saying that india's market regulator investigated all claims in the past and found nothing. but you will remember that last y

the move followed a new report from the us hindenburg research which accused the boss of the capitalflicts 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 who fatally stabbed three people in nottingham last year was identified three years previously as a potenti

us short seller, hindenburg research, has made some new allegations against the head of securities andhabi buch. according to the firm, buch and her husband are holding offshore funds in bermuda and mauritius that were also used by the adani group. the allegations call into question potential conflicts of interest, as the regulatory body that buch heads is currently investigating the adani group for corporate fraud. buch, her husband, the indian regulator, as well as the adani group, have denied the allegations. walt disney experiences division 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 h

and we speak with the man running the adani group energy business and the impact of the hindenburg research allegations. >> from our viewpoint this report was nothing but a cumulation already -- but an accumulation of everything that had already been alleged. and presented in a way that was explosive and shocking. >> time to look at markets. most risk on an avril hong is in singapore. another impressive reversal in japan. >> we are seeing the rebound continuing in the rest of the region but most notably in japan and this is against the backdrop of what we got from the deputy governor of the boj saying they will not hike rates in the face of markets being unstable and this comes one day after a three way meeting between the boj, finance ministry and financial services agency. the readout from the meeting did not help placate markets but it is the words also cheated that seem to be what markets are hanging on and japanese equities today they flipped from losses to gains against the backdrop of those comments. dollar-yen moving almost 2% given that it is quite flat in the mainland indices but

they get this report from hindenburg research. neil: -- stuart: watch out of hindenburg comes after you. i start with amazon. travis kelsey. lauren: nfl players, travis, jason kelsey signed a podcast deal with amazon for one hundred million dollars according to the wall street journal. amazon knows where the money is. who is travis kelsey doing? 100 million is a lot of money. stuart: mediterranean fast food up recently. lauren: the largest shareholders filing to share, after the record surge. one of the sellers, $25 million. stuart: donald trump claims kamala harris is trying to get out of the abcd betas the two campaigns argue over debate rules. >> we agreed to the same rules, doesn't matter to me. the agreement is it would be the same as it was last time. it was muted. didn't like at the last time but worked out fine. we agreed to the same rules, same specifications. that is what it should be. they are trying to change, she doesn't want to debate. not a good debater, not a smart person. he doesn't want to debate. stuart: as usua

in january 20 23, those concerns erupted onto the global stage when short sale or hindenburg researchused the adani group of fraud and stock-price minute elation. although they deny those allegations, the report still triggered a $150 billion 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 then. most losses -- pared most losses. they won a reprieve from india's supreme court. fierce anger as investigations by india's market regulator continue. it is with this backdrop that the 62-year-old founder spoke to bloomberg's anthony to say he is setting in motion a succession plan that will hand the running of his massive conglomerate in about eight years to the net generation of his family, which he dubs the g2. adani limited on camera questions to succession. we asked him about the impact of the short seller report and its aftermath on his transition plan. >> mr. adani, you said this transition plan was conceived about 10 years back. -- has it affected in any way, the implementation? gautam: in

hindenburg research accused the adani group of pulling off wha

investors still have about allegations made against the group last year by the short seller hindenburg researchd. 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. >> in-line -- in light of the government's projections, what is -- not this is the gradual ramp down. we have a lot of assets and obligations. those contractual obligations need to be met. it is completely independent. with the cash flow that company generates, that completes its independent call wit

hindenburg research accused the adani group of pulling off what it called the largest con in corporatee adanis denying the allegations of stock

i'm really dismissed claims by a us from that she's guilty of a conflict of interest. hindenburg research alleges that she invested an offshore funds, a link to one of india's biggest companies, the a dining group that can go over it for its part has also rejected the claim of the latest allegations by hindenburg and malicious, mischievous and manipulative selections of publicly available information to arrive at pre determined conclusions for personal profit, tearing, with wanton disregard for facts. and the little we completely reject these allegations against the dani group, which are a recycling of discredited planes that have been thoroughly investigated. proven to be baseless and already dismissed by the honorable supreme court in january 2024. the new allegations come off. the hindenberg also published last year, a report accusing the india and a company of financial irregularities and stock market. i mean, if you nation the claims lead to a shop full and the value of a dining shares. and following this india supreme court director of the indian stuff market regulated to carry out

micro shares closed lower after hindenburg research disclosed a short position and accused them of red and sanctions failures. a spokesperson says the company does not comment on rumors. revenue at klarna jumped with adjusted profit. there one of the most anticipated up-and-coming ipos when it comes to ai replacing jobs. bots are conducting two thirds of all interaction equaling 700 full-time agents. you can buy zepbound for half-price through lily's all hands on deck effort to ramp up supply, setting the tone with competitors like novo nordisk. on your agenda as well in the day ahead, mortgage applications not usually tradable but seeing whether the consumer is picking up on lower rate cuts. we will let you know at 12 p.m.. opening ceremony for the paralympics. nvidia earnings after the market and catherine man from boe to be hitting the wire as well rafael bostic on the opposite spectrum, vouching for a cut with jay powell. we will dive into those details. coming up, the paralympics opening ceremony begins in paris seeking to continue the magic of the olympics. we speak to the deputy

thanks so much. >>> shares of super micro under pressure after hindenburg research disclosed a short eema moody has all the details of that one for us. >> super micro stock tumbling after short seller hindenburg came out with a report alleging accounting flags in a any-month investigation they conducted. claims they found evidence of the company rehiring executives involved in 2018's micro scandal that led to its nasdaq delisting. the semiconductor which counts nvidia as a customer specializes in ai servers and the stock has ridden the ai wave. it came under pressure this month following disappointeding quarterly report that it revealed weaker than expected margins. analysts chalking that up to higher expenses and dell. amd making the big acquisition. we reach out to super micro for comment. >> thank you. we look forward to that. >>> turning to nvidia the street betting on big moves in the stock after the company reports results tomorrow. the options market pricing in a near 10% move in either direction. with bets skewed actually to the upside. joining us now is susquehanna cohead of

it's pushing back on claims from short-seller hindenburg research that this is -- this is the quote from accounting manipulation. they had pointed to some red flags over the accounting. it's unclear if the delay in supermicro's annual report is related to hindenburg's findings and a new stake. but those shares are up an additional 3% in the market trade. taking a look at the job market, the ten-year holding steady, the yield 3.82%. the two-year, 3.86%. checking on oil as pressure continues on crude you have wti and brent looking at the second straight negative month. this morning, wti is off by half a percentage point. brent off by the same, and rbob the same. to the top story of the morning, maybe the top story of the week or month, shares of nvidia falling. the forecast, it gave optimistic guidance. revenue more than doubled to $30 billion but, remember, it had tripled in previous quarters. revenue from data centers where the bulk of nvidia's a.i. sales come from, rose by 150%. gross margins, they beat expectations but were down quarter on quarter. for the current quarter, the company

early 2023, just a few years after jeet joined the family business, a report published by hindenburg researchedcused the company of fraud and share price manipulation. it sparked a $150 your -- $150 billion meltdown. they have denied the allegations and their shares have recovered but they are still dealing with the fallout. we spoke exclusively with jeet adani and asked him how the groups strategies have changed. >> you had just joined the business when the hindenburg report came out. how did it affect you personally? what role did you play in that crisis situation? >> it was a very stressful and tough time. emotions were high. i think the most important thing that was on my mind was, what can i do to support the family? more than that, how do i support the larger family, the employees? the biggest risk that you run in times like these is motivation. people losing hope. to make sure that everyone is motivated. everyone knows that what we are doing is making a real impact. we continue with the work because these things happen. but we don't want to lose motivations. >> some of the investigations

you've got super micro computer, the ig best drag now, following a report from short seller hindenburg researchaiming among other things, that there was accounting manipulation at the server maker. right now shares of super micro are off by 2.5%. and there you're seeing some of the other big movers of the morning. as we continue to track the rotation out of big tech, we're looking at financials an consumer staples. both of those sectors are up at about 8%. you're looking at names like jpm jpmorgan, american excess, walmart, costco, and coca-cola sitting at fresh highs and really helping to drive those gains. this morning the biggest mover is walmarts up by a quarter of a percent ja now what's being touted the most critical event for both the tech sector and broader market, nvidia reporting second quarter results after the close today. it continues to rake in money thanks to its dominance in ai chips. on its last earnings call, they projected they would see $28 billion in revenue and margins of 75%. if it hits that, it would more than double revenuier on year and quarter to quarter growth will h

yesterday hindenburg research said there was accounting manipulation and the company has to respond tot's a big decline, stock is double this year. it's a high fire, a ipo way, nvidia is a customer but when hindenburg goes after you, you have a problem. stuart: berkshire hathaway. lauren: the first non-tech the us company to hit the milestone and happened two days before warren buffett's -- happy birthday a little bit early. stuart: trillion dollars. lululemon. lauren: stock is cut in half. analysts say you don't have to be everything to everybody. cater to who your core customer is. expect sales to increase by 9%. that slower than it has been. stuart: iran's supreme leader said he's open to renewing negotiations, talking with the us over tehran's nuclear program. is that a retreat by the iranians? retired general keith kellogg deals with that. ukraine hopes to get biden's blessing to strike russian targets with american long-range missiles. we have that next. ♪ clem's not a morning person. or a night person. or a...people person. but he is an "i can solve this in 4 different ways" per

making the news this monday, the chair of india's market regulator is strongly denying claims by hindenburg researchf conflicts of interest related to the adani group. hindenburg published a paper saying adani and her husband invested. hindenburg 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 responsi

it also took a multibillion hit from the explosive hindenburg research report with a short seller claimingey engaged in fraud and stock manipulation. allegations that they've denied. bloomberg's -- sat down with him for an exclusive interview and asked him about the challenges ahead. >> it has been closely linked to prime minister narendra modi. but at the same time you are working and several other states. how do you do the balancing act? >> being close to a political party does not necessarily mean that you get to work -- you get the work. you get the work because you are able to deliver. you are competitive in the market and we have run it in the most efficient manner. you don't have these three things, there is no point being close to any political party. today's india, you know more about giving favors. it is all about whether you are competitive in the landscape or not. >> many investments the group is making whether it sri lanka or not, the way in which analysts are seeing it is like you are playing a strategy for the government of ended the -- of india to facilitate foods. now, as

this is after hindenburg research on the company and hindenberg accused them of accounting manipulationng a host of other problems. and kids heading tock baa class and fox business focusing on education in america. should cell phones be banned in school? we have a live report. we're also showing you how samsung is incorporating ai into the all new classroom smug board and of course i want to remind you to tune into the big money show as well. brian burg, jackie deangeles and i each day show up at 1:00 p.m. eastern and here on fox business. we'll be right back. ♪ things can transform. slipping out of balance into freefall. (the stock market is now down 23%). this is happening people. where there are so few certainties... (laughing) look around you. you deserve to know. as we navigate a future unknown. i'm glad i found stability amidst it all. gold. standing the test of time. taylor: breaking news, greek flag oil tanker in the red sea is laning oil according to the pentagon. loaded with 42 million gallons of oil and represents a major environmental problem if a total spill occurs. yesterd

early 2023, just a few years after jeet joined the family business, a report by short seller hindenburg researcherccused the company of fraud and share price manipulation. it sparked a 150 billion dollar meltdown in shares of group companies. the adanis denied the allegations and shares have recovered, but there is still fallout. bloomberg's and joe anthony spoke with jeet adani and asked how the group's have changed. >> you joined the business when report came out. how did it affect you personally and what role did you play in that crisis situation? >> i was definitely personally speaking, the emotions were high but i think the most important thing that was on my mind was, what can i do to support the family, but more than that, how do i support the larger family? which is the employees. the biggest risk you run in times like is the motivation. people losing hope. to make sure everyone is motivated and no stoked what we are doing -- and knows that what we are doing is making an impact, and we continue. these things happen. they come and go. but we don't want to lose motivation. >> some of the ind

microshares is tumbling after the company says it won't file its fiscal year report on time after the hindenburg researcheport as well. we'll bring you details next. this is bloomberg. ♪ vonnie: this is block markets, i'm vonnie quinn. the billionaire founders of sigma are stepping down after feuding for years and handing control to two new co-c.e.o.'s and get the details with hannah palmer who wrote the details. they've been feuding for years, did something extra happen they finally had to be told, guys, enough? hannah: i think things had built for so long and got so bad the firm actually in a regulatory filing disclosed this was a material risk that the two billionaire founders were disagreeing on so many things it could pose a risk to investors and shows how bad it got that a secretive hedge fund would take such an unusual move and clearly needed to resolve the matter in have -- some way and they seen disagreed on succession but they agreed to step down and hand the reigns over to the two c.e.o.'s. vonnie: i see how you can disagree on succession planning but was it strategy agreements or more day-to-

this a day after hind hindenburg research closing and aaccounting manipulation and losing a quarter of today. on the morning of the report and major customer and nvidia setting the tone. >> there's reputation and it's in the area. stuart: major company going after them and they succeed. it happens a lot. lauren: forces changes. stuart: casinos. lauren: it's down 15% in july from last year and statewide see mgm and cesars and sands all down. lauren: then okay, you go up and see it and casinos go cold. stuart: 15% decline, that's a lot of decline. okay. jm shmuckes. lauren: they cut end sale and forecast and customer is cost conscious and trading down, cheap reer folgers coffee and snacks and customer is watching wallet and trading down to cheaper brands. stuart: thank you, lauren. new poll in the wall street journal shows most people think the american dream is out of reach. they're losing hope about ever owning a home. jd vance raising concerns about social media and the press. >> these companies are too big and too powerful, especially the ones that censor the american people. stuart:

yesterday, when hindenburg, that research firm that puts out long reports as to why it is short a stockdid just that on super micro, which pressured the shares. although they did come back, at least the last i had looked. i'm not sure how they closed yesterday. it had been down a lot, but it rallied. you can see, though, timing is everything. this morning now, completely, perhaps, having nothing to do at all with hindenburg, though it was alleging certain accounting issues, i believe, it's fair to say. >> very serious. >> they do say, "additional time needed from management to complete its assessment of the design and operating effectiveness of its internal controls over financial reporting." that's as of the end of june of 2024. they haven't made updates to its results for the fiscal year and quarter, and therefore, they are delaying their 10k filing for the fiscal year. >> i think if you go over hindenburg's -- the incredible work that he's done, and i want to immediately contrast that, because they have been on twice, with the jpmorgan defense of it. you come up with something that s