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TotalEnergies SE has announced it will halt new investments in the Adani Group until the implications of US bribery charges against founder Gautam Adani and others are clarified. This decision raises concerns about Adani's financial capacity for expansion and impacts TotalEnergies's growth strategy in India, where it has previously partnered with Adani in renewables and natural gas.
The UK's financial regulator has fined Barclays £40 million ($50.9 million) for failing to disclose arrangements with Qatari entities during its 2008 capital raising efforts amid the financial crisis. The Financial Conduct Authority deemed Barclays' conduct reckless and lacking integrity. Although the bank does not accept the findings, it has withdrawn its appeal, stating that the decision serves the best interests of its stakeholders.
Barclays Plc has been fined £40 million ($50.3 million) by British regulators for failing to disclose details regarding its financial rescue by Qatar during the 2008 crisis. This penalty follows a previous attempt by the UK’s Financial Conduct Authority to impose a £50 million fine due to undisclosed advisory fees paid to Qatari investment vehicles. Barclays has referred the findings to a higher tribunal for reconsideration.
A committee appointed by the Bangladesh government is reviewing power generation contracts, including one with India's Adani Power. It has recommended that the interim government engage a global legal firm to conduct a comprehensive and transparent investigation into the agreements made during former Prime Minister Sheikh Hasina's administration.
A new non-partisan initiative aims to enshrine an ecological and sustainable orientation for the Swiss financial center in the constitution, targeting major banks like UBS for their fossil fuel investments. The initiative proposes restrictions on financing new fossil energy projects and calls for a supervisory authority, dubbed "eco-finma," to ensure compliance and prevent greenwashing. With the recent collapse of Credit Suisse, proponents see this as an opportune moment for reform in banking regulation.
CESC has secured a Rs 871 crore deal to acquire 100% shares in a distribution company for electricity supply in Chandigarh, following a favorable ruling from the Punjab and Haryana High Court that dismissed trade unions' objections to the privatization. The transaction, initiated in 2021, faced delays due to legal challenges but is now set to proceed.
Gautam Adani, a prominent Indian businessman and ally of Prime Minister Narendra Modi, has been charged by US prosecutors in a $250 million bribery scheme. While Modi's party claims the issue is private and Adani's company denies the allegations, the case poses a significant risk to US-India diplomatic relations.
On November 24, Swiss voters approved the Efas healthcare reform while rejecting six motorway projects and two revisions of tenancy law. Health Minister Elisabeth Baume-Schneider hailed the healthcare reform as a significant advancement, while Transport Minister Albert Rösti acknowledged his first defeat, emphasizing the need for alternative traffic solutions. Economic Affairs Minister Guy Parmelin noted the public's desire to maintain tenant protections amid calls for updated tenancy laws.
Musk's rivalry with Bezos intensifies as Trump’s victory boosts Musk's influence in the space industry. While Bezos attempts to mend ties with Trump, Musk enjoys a favorable relationship, raising concerns among competitors about potential favoritism in government contracts and NASA leadership. Blue Origin fears Musk's ambitions could undermine competition and national security in the space sector.
A fresh plea has been filed in the Supreme Court seeking an investigation into alleged bribery involving Gautam Adani and others, following the Hindenburg Report. The petition criticizes the Securities and Exchange Board of India (SEBI) for not disclosing findings from a court-ordered probe into stock manipulation and related-party transaction violations, raising concerns about investor trust. It also points to discrepancies in Adani Green's communications regarding a Department of Justice investigation.
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totalenergies halts investment in adani group amid us bribery probe
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