MUMBAI/NEW DELHI, Feb 10 (Reuters) – India’s market regulator is investigating Adani Group’s links to some of the investors in the conglomerate’s aborted $2.5 billion share sale, two sources said, amid growing concern in New Delhi about a U.S. short-seller’s allegations against one of the country’s top industrial groups.
The Securities and Exchange Board of India (SEBI) is looking into any potential violation of Indian securities laws or any conflict of interest in the share sale process, said the two sources who have direct knowledge of the matter.
Full coverage: REUTERS
Microsoft Co-Founder Bill Gates: ChatGPT ‘Will Change Our World’
BERLIN, Feb 10 (Reuters) – Microsoft co-founder Bill Gates believes ChatGPT, a chatbot that gives strikingly human-like responses to user queries, is as significant as the invention of the internet, he told German business daily Handelsblatt in an interview published on Friday.
“Until now, artificial intelligence could read and write, but could not understand the content. The new programs like ChatGPT will make many office jobs more efficient by helping to write invoices or letters. This will change our world,” he said, in comments published in German.
Full coverage: REUTERS
Gigapresses – The Giant Die Casts Reshaping Car Manufacturing
TRAVAGLIATO, Italy, Feb 10 (Reuters) – By replacing around 60 welded components with a single module, gigantic aluminium die casting machines made by the likes of Tesla supplier IDRA Group are helping carmakers to simplify manufacturing and cut costs by up to 40% in some areas.
Tesla (TSLA.O) has pioneered the use of massive casting machines, also known as gigapresses, to make large single pieces of vehicle underbodies, streamline production and reduce the work of even robots.
Full coverage: REUTERS
Recession Alarm Bells Are Ringing, But (Much) Less Loudly Than Before
Feb 10 (Reuters) – The rapid reopening of China’s economy, plunging European gas prices and cooling U.S. inflation suggest a global recession may not be as deep and protracted as feared just weeks ago.
Yes, warning signals are still flashing as last year’s surge in inflation and interest rates bites, but a strong rally in world markets suggest optimism is returning.
The International Monetary Fund raised its 2023 global growth outlook and a painful euro area recession that was once seen as all-but-certain is less of a concern. Citi sees a 30% chance of a global recession this year, down from 50% in the second half of last year.
Full coverage: REUTERS
Morning Bid: Volatility Stirs
A look at the day ahead in U.S. and global markets from Mike Dolan.
World markets end a rough week of confusing and competing narratives in distinctly edgy form, with peculiarly subdued volatility gauges flickering back to life.
Although still close to long-term averages, the VIX ‘fear index’ (.VIX) has popped back above 20 for the first time this month – with Wall St (.SPX) wobbling on a mix of renewed interest rate angst and wayward steers from the corporate earnings season.
Full coverage: REUTERS
