Adani Enterprises calls off €2.2 billion share sale, citing ‘market volatility’

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The Adani Group conglomerate has seen tens of billions of euros wiped off its market value since a short-seller's report accused it of pulling 'the largest con in corporate history' last week. It has now cancelled a €2.2 billion ($2.5 billion) share sale meant to help reduce debt levels. Billionaire founder Gautam Adani maintains that the 'fundamentals' of the group are 'strong'.

Several major banks are set to lose billions of dollars over links to the hedge fund Archegos, after financial troubles at the firm sparked a massive sell-off of shares.

Nomura and Credit Suisse have said they will suffer significant losses, which caused their share prices to plunge on Wall Street on Monday. Archegos was backed by former star trader Bill Hwang. Also today, we look at how the wine industry in Argentina has seen rising sales during the pandemic.

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