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Hindenburg says holds short positions in India“s Adani

2023-01-25T05:37:42Z

The logo of the Adani Group is seen on the facade of one of its buildings on the outskirts of Ahmedabad, India, April 13, 2021. REUTERS/Amit Dave

Hindenburg Research said on Wednesday it holds short positions in Adani Group companies through U.S.-traded bonds and non-Indian-traded derivative instruments, sending shares of companies in the Indian conglomerate sliding.

The short-seller said seven Adani listed companies have an 85% downside on a fundamental basis due to sky-high valuations and that “key listed Adani companies have also taken on substantial debt” which has “put the entire group on precarious financial footing”.

An Adani spokesperson did not immediately respond to Reuters request for comment on the report.

The company has repeatedly dismissed debt concerns. Adani Chief Financial Officer Jugeshinder Singh told media on Jan. 21 “Nobody has raised debt concerns to us. No single investor has.”

The group, which is controlled by world’s third richest man Gautam Adani has long faced concerns about elevated debt and the Hindenburg report comes at a time when Adani Enterprises (ADEL.NS) plans to raise $2.5 billion in India’s largest follow-on public offering this week.

Shares in Adani Ports And Special Economic Zone (APSE.NS) slid 4.8% on Wednesday to their lowest level since mid-July while Adani Enterprises, the group’s flagship company, dropped 2.5% to a 12-week low.

Shares in Adani Enterprises surged 125% in 2022, while other group companies, including power and gas units, rose more than 100%.

Adani Group’s total gross debt in the financial year ending March 31, 2022, rose 40% to 2.2 trillion rupees. CreditSights, part of the Fitch Group, described the group last September as “overleveraged” and said it had “concerns” over its debt.

While the report later corrected some calculation errors, CreditSights said it maintained its concerns over leverage.

Hindenburg is known for shorting electric truck maker Nikola Corp (NKLA.O) and Twitter though it later reversed its position in Twitter.

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Senators to grill Ticketmaster after Taylor Swift fiasco

Senators are expected to grill Ticketmaster Tuesday, questioning whether the company’s dominance in the ticketing industry led to its spectacular breakdown last year during a sale of Taylor Swift concert tickets.

U.S. Sen. Amy Klobuchar, a Minnesota Democrat, said the Senate Judiciary Committee hearing will focus on consolidation in the live entertainment and ticketing industries and how it harms customers.

“For too long, consumers have faced high fees, long waits and website failures, and Ticketmaster’s dominant market position means the company faces inadequate pressure to innovate and improve,” Klobuchar said in a statement ahead of the hearing.

Ticketmaster is the world’s largest ticket seller, processing 500 million tickets each year in more than 30 countries. Around 70% of tickets for major concert venues in the U.S. are sold through Ticketmaster, according to data in a federal lawsuit filed by consumers last year.

In 2010, Ticketmaster merged with Live Nation, a Beverly Hills, California-based entertainment company that produces live shows, festivals and concert tours. Live Nation’s President and Chief Financial Officer Joe Berchtold is among those scheduled to testify Tuesday.

In mid-November, Ticketmaster’s site crashed during a presale event for Swift’s upcoming stadium tour. The company said its site was overwhelmed by both fans and bot attacks. Many people lost tickets after they had waited for hours in an online queue.

Ticketmaster required fans to register for the presale, and more than 3.5 million people did. The company said it was the largest registration in history.

Ticketmaster eventually canceled a planned ticket sales to the general public because it didn’t have enough inventory.

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LeBron scores 46 points with 9 3s, but Clippers rout Lakers

LOS ANGELES (AP) — LeBron James hit a career-high nine 3-pointers while scoring 46 points, but the Los Angeles Clippers hit 19 3-pointers of their own on the way to a comfortable 133-115 victory over the Los Angeles Lakers on Tuesday night.

James scored at least 40 points against the Clippers for the first time in his 20-year career, giving him a 40-point game against all 30 teams in the NBA. James hit his record ninth 3-pointer with 6:45 to play, setting a career high from distance in his 1,404th game.

James also ramped up his chase of Kareem Abdul-Jabbar’s career scoring record with his 101st 40-point game, including the postseason. He trails Abdul-Jabbar (38,387 points) by just 177 points, putting him in position to potentially break the record at the end of the Lakers’ upcoming five-game road swing instead of back home in Los Angeles.

James’ brilliance wasn’t nearly enough: The Lakers never caught up after falling behind by 23 points, and James spent the final minutes on the bench after the Clippers pulled away for their 10th consecutive victory over their arena co-tenants in downtown Los Angeles.

Paul George had 27 points and nine rebounds, and Kawhi Leonard added 25 points in the Clippers’ third straight win overall. The Clippers hit a season-high 15 3-pointers in the first half while scoring a season-high 77 points and jumping to a 23-point halftime lead.

Norman Powell had 22 points and Reggie Jackson added 19 for the Clippers.

Russell Westbrook scored 17 points and Thomas Bryant added 15 for the Lakers.

The Clippers never trailed, largely because of a spectacular outside shooting performance in the first half.

Powell hit four 3-pointers and George and Jackson added three apiece while the Clips went 15 of 23 behind the arc, making more 3s than two-point buckets (12) while going up 77-54. The Clippers hadn’t made 15 3-pointers in a half in the past three seasons.

James went tumbling headfirst onto the walkway behind the courtside seats while chasing a loose ball in the third quarter, but got up unhurt.

HACHIMURA ARRIVES

Rui Hachimura sat on the Lakers’ bench in street clothes one day after Los Angeles acquired him from Washington in a trade for Kendrick Nunn. The Japanese big man could be in uniform Wednesday.

“I’m super-duper excited” about the Lakers’ acquisition, coach Darvin Ham said. “A multifaceted, strong, skilled, athletic player. Definitely fills a big void and can just fall into the system seamlessly. … I think he’s going to bring a lot.”

TIP-INS

Clippers: Marcus Morris left the game with bruised ribs. … John Wall missed his sixth straight game with an abdominal injury. … Luke Kennard missed his ninth straight game with a calf injury, but could return Thursday.

Lakers: Davis is close to his return, although the team still hasn’t put a date on it. Davis had “another great day” of rehabilitation, Ham said. … Guards Lonnie Walker and Austin Reaves also are both close to returns from injury, Ham said. Reaves hasn’t played since Jan. 4, and Walker has been out since Dec. 28. … Westbrook scored his 24,000th point in the first quarter, becoming the 28th player in NBA history to hit the mark.

UP NEXT

Clippers: Host San Antonio on Thursday night.

Lakers: Host San Antonio on Wednesday night.

___

AP NBA: https://apnews.com/hub/NBA and https://twitter.com/AP_Sports

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Judge to consider freedom for Hawaiian man in ’91 murder

HONOLULU (AP) — Attorneys for a Native Hawaiian man who has been imprisoned for more than 20 years for the 1991 sexual assault, kidnapping and murder of a white woman visiting Hawaii will ask a judge Tuesday to dismiss his conviction due to new evidence — including DNA testing — in the case.

A petition filed late Monday outlines additional evidence in one of Hawaii’s biggest murders, which unfolded on Christmas Eve in 1991 on Hawaii Island, commonly known as the Big Island.

Dana Ireland, 23, was found barely alive in the bushes along a fishing trail in Puna, a remote section of the Big Island. She had been sexually assaulted and beaten and later died at Hilo Medical Center. The mangled bicycle she had been riding was found several miles away and appeared to have been run into by a vehicle.

The murder of the blond-haired, blue-eyed visitor from Virginia gained national attention and remained unsolved for years, putting intense pressure on police to find the killer.

“Whenever you have a white, female victim … it gets a lot more attention than people of color and Native Hawaiians,” said Kenneth Lawson, co-director of the Hawaii Innocence Project. “The parents, understandably, were becoming more and more infuriated. … There was insurmountable pressure to solve this case. And when that happens, mistakes are made. Some intentional and some unintentional.”

With help from the Innocence Project in New York, the co-counsel in the case, Lawson’s group is representing Albert “Ian” Schweitzer, the last of three Native Hawaiian men convicted in Ireland’s death to remain imprisoned.

DNA evidence previously submitted in the case belonged to an unknown man and all three of the convicted men were excluded as sources.

New DNA evidence, according to the petition, shows a “Jimmy Z” brand T-shirt found near Ireland and soaked with her blood belonged to the same unknown man, and not to one of the three men, as prosecutors claimed.

Additionally, a new tire tread analysis concluded Schweitzer’s Volkswagen Beetle car didn’t leave the tire marks at either location where Ireland and her bicycle were found. A forensic odontologist also concluded an injury on her left breast wasn’t a bitemark, as previously believed, the petition said.

“At a new trial today, a jury would not convict Mr. Schweitzer of Ms. Ireland’s sexual assault and murder,” the petition said. “In fact, a prosecutor would likely not even arrest Mr. Schweitzer for this crime.”

The likelihood that all three men participated in a sexual attack and left no trace of biological evidence — including a lack of evidence uncovered with advanced forensic testing — is “extraordinarily improbable,” the petition said.

At the evidentiary hearing, a judge will consider the defense’s request to vacate Schweitzer’s sentence and release him.

Ireland’s relatives couldn’t immediately be reached for comment on the petition.

In 2019, Schweitzer’s attorneys and Hawaii County prosecutors entered into a “conviction integrity agreement” to reinvestigate the case. It was the first time in Hawaii there has been this type of agreement, Lawson said, which is increasingly being used to reexamine questionable convictions and guard against future errors.

Much of the background on the Ireland case is detailed in a document filed with the petition listing facts that defense attorneys and prosecutors have stipulated.

In 1994, police made what they believed to be a major breakthrough. A man facing charges for his role in a cocaine conspiracy contacted police and claimed his half-brother, Frank Pauline Jr., witnessed Ireland’s attack, according to the stipulated facts document.

Police interviewed Pauline, who was in his third month of a 10-year sentence for an unrelated sex assault and theft. He claimed brothers Ian and Shawn Schweitzer attacked and killed Ireland. But he was interviewed at least seven times and gave inconsistent accounts each time, eventually incriminating himself, the stipulation document said.

Despite the lack of evidence linking them to the killing, the two Schweitzers and Pauline were indicted in 1997.

At one point the charges were dismissed because all three men were excluded as the source of semen found in Ireland and on a hospital gurney sheet. They were indicted again after another informant claimed Ian Schweitzer confessed to him in jail that Pauline raped and killed Ireland.

Pauline later said he offered details to police about the Ireland murder in order to get drug charges dropped against his half-brother.

In a prison interview with the A&E show “American Justice,” Pauline compared his story to the tale of the boy who cried wolf. “Wasn’t me,” he said in a strong Hawaii Pidgin accent. But when he started telling the truth, he said no one believed him.

Shawn Schweitzer took a deal to plead guilty to manslaughter and kidnapping — and receive credit for about a year served and five years of probation — after seeing juries convict Pauline and his brother in 2000.

In October, Shawn Schweitzer met with prosecutors and recanted. According to the stipulation document, he pleaded guilty because his “parents did not want to risk losing another son and encouraged Shawn Schweitzer to do what he needed to do to come home and not suffer the same fate as his brother.”

Shawn Schweitzer “continues to feel immense guilt about agreeing to the confession and entering a guilty plea for a crime he did not commit and falsely implicating his brother,” the document said.

A polygraph test in November showed he was telling the truth when he denied any involvement in the murder, the document said.

Pauline was killed in a New Mexico prison by a fellow inmate in 2015. Ian Schweitzer is serving his 130-year sentence in an Arizona prison because of a lack of space for inmates in Hawaii.

“Mr. Schweitzer has spent over two decades wrongfully incarcerated based on unreliable informant evidence and accident reconstruction testimony,” the petition said. “It would be unconscionable for him to continue to remain incarcerated, given this overwhelming new evidence of innocence.”

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Strong clan loyalty, locals, helped mafia boss Messina Denaro stay hidden

2023-01-25T05:03:54Z

When Salvatore Catalano discovered that mafia boss Matteo Messina Denaro had lived just a short walk from his house in the western Sicilian town of Campobello di Mazara, he felt sick.

Catalano’s brother, Agostino, was a policeman who died in a 1992 bomb that killed anti-mob magistrate Paolo Borsellino – a attack that prosecutors say Messina Denaro helped mastermind.

“There’s anger in my heart and soul now that I know he was here and I didn’t recognise him,” Catalano told Reuters.

Messina Denaro, 60, was arrested on Jan. 16 after 30 years on the run. Police believe he spent much of the last year hiding in plain sight in Campobello di Mazara, a town of some 11,000 inhabitants, just a short drive from his mother’s house.

“We’ve celebrated the arrest with my family. He’s in jail and will now be subject to tough detention rules,” Catalano said.

The last confirmed sighting of Messina Denaro was in 1993, making it difficult for police to identify the most wanted man in Italy. He lead an apparently open life in the town, shopping for himself in the local supermarket, authorities said.

Prosecutors say their hunt was further complicated by the unusually strong loyalty he received from members of his clan in the west of Sicily.

Reuters interviewed dozens of residents on the streets of Campobello and from his nearby hometown of Castelvetrano, as well as prosecutors and police who helped track him down.

They revealed the struggle investigators faced in trying to break through the mafia’s wall of “omerta”, or code of silence, that had shattered in other parts of Sicily, but which still stood firm around Messina Denaro, dubbed by the Italian press as “the last Godfather“.

“I’ve arrested at least 200 people related to him. Only one of them decided to collaborate with justice,” said Roberto Piscitello, a prosecutor who tried to capture Messina Denaro from 1996 to 2008.

“In the nearby provinces of Palermo and Agrigento, five out of 10 of the arrested become turncoats,” he told Reuters speaking from his home in Marsala, on the western tip of Sicily.

In the end, it wasn’t Messina Denaro’s fellow mobsters who betrayed him, but his failing body.

Police say they managed to catch Messina Denaro after learning from wiretaps of his relatives that he had cancer.

They had long suspected he was living in his native Sicily, and a thorough check of cancer patients in the region revealed that a man named Andrea Bonafede had surgery in the western city of Mazara del Vallo at the same time his mobile phone had been active in another part of the island.

Investigators took that as the “first significant confirmation” that Messina Denaro could be hidden under that false identity, judicial documents seen by Reuters showed, because it suggested the man having the operation was not the real Andrea Bonafede, who was presumed to be with his phone.

They homed in on the patient and learned he was due to receive routine chemotherapy treatment in the island’s capital Palermo on Jan. 16.

Police surrounded the clinic and pounced after the patient arrived for his appointment. He immediately acknowledged his true identity but appeared to dash any hopes that he would spill the beans on his life of crime.

“I have my code of honour,” a law enforcement source quoted him as telling magistrates when they first met him, referring to the Sicilian Mafia’s rule, much degraded over the past 30 years, of not speaking about the organisation to anyone outside.

His silence means investigators must try to piece together as best as they can how he managed to avoid detection through the years.

The initial focus of their probe was on the real Andrea Bonafede, a trained surveyor who had no criminal record.

Bonafede has confirmed knowing Messina Denaro since their youth and has acknowledged buying the mobster a flat in Campobello di Mazara, prosecutors said. He himself is under arrest and has not commented publicly about the case.

Police are also investigating his driver, Giovanni Luppino, an olive farmer who also had no police record. He was carrying a switchblade and had turned off his two mobile phones, in what magistrates say was an attempt to prevent being traced.

He has denied knowing the true identity of his passenger.

Palermo Chief Prosecutor Maurizio de Lucia told Reuters that men such as Bonafede represented the “first link” of the fugitive’s matrix – those who provided for his basic needs.

But he believes his support network had deep roots.

“His territory helped him for many years. It is reasonable to think he received protection from professionals, entrepreneurs,” he said.

Among those already under investigation for allegedly aiding and abetting the boss is his doctor, Alfonso Tumbarello. His lawyer said he was confident his client could prove his innocence.

Magistrates said they found evidence that Messina Denaro had visited Spain, Greece and Austria over the years. But the main focus of his business activities remained in western Sicily, meaning he probably spent much of his time on the island.

Dozens of lower-level mafiosi were arrested in the region through the years – a thinning out of Messina Denaro’s inner circle that magistrates said repeatedly interrupted promising leads that they had hoped would one day take them to the boss.

“(But) we could not sacrifice justice. We could not leave mobsters on the streets,” Prosecutor Paolo Guido, who led the long hunt to the boss in the last years, told Reuters.

Prosecutors said the mob chief built a wide array of financial interests that went far beyond traditional mafioso concerns, helping him set up a loyal network of white collar professionals.

A secret 2013 recording made in prison revealed former boss of bosses, Salvatore “the Beast” Riina, had complained that his one-time protege was investing in renewable energy projects rather than focusing on hardcore Mafia activities.

“In the Sicilian context, those who are believed to create jobs and the possibility of doing business obtain consensus, protection,” said Colonel Antonello Parasiliti Molica, who heads the Carabinieri special forces anti-crime unit in Palermo.

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A screengrab taken from a video shows Matteo Messina Denaro the country’s most wanted mafia boss being escorted out of a Carabinieri police station after he was arrested in Palermo, Italy, January 16, 2023. Carabinieri/Handout via REUTERS

A handout photo shows Matteo Messina Denaro Italy’s most wanted mafia boss after he was arrested in Palermo, Italy, January 16, 2023. Carabinieri/Handout via REUTERS
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Official: Australia could deny Ye entry over antisemitism

CANBERRA, Australia (AP) — A senior Australian government minister said Wednesday that rapper Ye, formerly known as Kanye West, could be refused a visa due to antisemitic comments if he attempts to visit Australia.

Education Minister Jason Clare was responding to media reports that the U.S. celebrity intends to visit the family of new Australian partner Bianca Censori in Melbourne next week.

Clare said he did not know if Ye had applied for a visa but that Australia has previously refused them to people with antisemitic views.

“I expect that if he does apply, he would have to go through the same process and answer the same questions” as others who’ve aired such views, Clare told Nine Network television.

Last month, Ye praised Hitler in an interview with conspiracy theorist Alex Jones. Twitter later suspended Ye after he tweeted a picture of a swastika merged with the Star of David.

Australia’s Migration Act sets security and character requirements for non-citizens to enter the country. Any decision on whether Ye gets an Australian visa would be made by Immigration Minister Andrew Giles, whose office said he could not comment on individual cases due to privacy reasons.

Peter Wertheim, co-chief executive officer of the Executive Council of Australian Jewry, met government officials on Tuesday to argue for an entry ban.

“We had a sympathetic hearing,” Wertheim said on Sky News. “We’ve made the case that this particular individual does not meet the character test and that it would be in the national interest not to grant him a visa and we set out our reasons in some detail.”

Opposition leader Peter Dutton said if he were in government, he would be inclined to bar Ye on character grounds.

“My inclination would be not to allow him in,” Dutton told Melbourne’s Radio 3AW on Tuesday.

“His antisemitic comments are disgraceful, his conduct and his behavior is appalling, and he’s not a person of good character,” Dutton added.

Ye and Censori intend to visit her family who live in the northeast Melbourne suburb of Ivanhoe next week, Seven Network News reported.

Ye and Censori recently married less than two months after he finalized his divorce from Kim Kardashian, entertainment news website TMZ reported two weeks ago.

The AP asked Ye’s representative whether he had married Censori and planned to visit Melbourne, but did not get an immediate response.

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Lindsey Graham says you won’t find any classified documents at his home, just ‘Chick-fil-A bags all over the floor’

Lindsey GrahamSen. Lindsey Graham, R-S.C., walks on Capitol Hill in Washington, Tuesday, Nov. 15, 2022.

AP Photo/Patrick Semansky

  • Lindsey Graham says there aren’t any classified documents at his home, just “Chick-fil-A bags all over the floor.”
  • Graham’s love for Chick-fil-A has been well-documented.
  • In 2021, he said he’d “go to war” for the fast-food company.

Sen. Lindsey Graham wants everyone to know that unlike other politicians, he doesn’t have classified documents at home, just lots of Chick-fil-A bags.

Graham mentioned the fast-food chain on two separate occasions on Tuesday.

“You’ve got Trump, you’ve got Pence, you’ve got Biden. The only thing I think you’ll find at my house is a bunch of Chick-fil-A bags on the floor,” Graham said during a news conference. 

The senator was commenting on the classified-file scandals that have plagued three 2024 presidential frontrunners. Classified documents have been found at the homes of President Joe Biden, former Vice President Mike Pence, and former President Donald Trump.

“Maybe we’re over-classifying things, that may be part of the problem. Count me in for getting this fixed,” the South Carolina senator said. 

—CSPAN (@cspan) January 24, 2023

Graham also made a similar comment when speaking to “Fox & Friends” host Brian Kilmeade earlier the same day

—The Recount (@therecount) January 24, 2023

“He loves Chick Fil A. A long time fan,” a spokesman for Graham told Insider. 

The spokesman added that Graham was “joking about the bags” — but just “a bit” — and sent several links documenting occasions where Graham was seen eating Chick-fil-A.

Graham’s love for Chick-fil-A has been well documented. In July 2021, the senator was incensed when students at the University of Notre Dame fought to keep the fast-food chain off their campus. The Notre Dame students were protesting the university’s plans for a Chick-fil-A outlet, citing the company’s history of giving millions of dollars to anti-LGBTQ groups.

In a tweet on July 14, 2021, Graham called the anti-Chick-fil-A protests at Notre Dame a “dangerous precedent.”

“I want everyone in South Carolina and across America to know I have Chick-fil-A’s back. I hope we don’t have to, but I will go to war for the principles Chick-fil-A stands for,” Graham tweeted. “Great food. Great service. Great values. God bless Chick-fil-A!”

Representatives for Chick-fil-A did not immediately respond to Insider’s request for comment.

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Bill Gates just invested in a startup that’s trying to stop cows from burping and farting so much

Bill Gates attends the 2022 TIME100 Gala on June 08, 2022 in New York City.Bill Gates’ Breakthrough Energy Ventures has backed Australian climate tech firm Rumin8.

Dimitrios Kambouris/Getty Images

  • Bill Gates-founded Breakthrough Energy Ventures led a $12 million seed funding round into Rumin8.
  • The Perth-based startup is developing a seaweed-based feed aiming to cut methane from livestock emissions — like the burps and farts of cows.
  • A byproduct of the digestion process, methane, is the most common greenhouse gas after carbon dioxide.

What do a billionaire philanthropist, a climate tech firm, and fewer cow burps have in common?

Just ask Bill Gates, whose investment firm Breakthrough Energy Ventures, or BEV, led a $12 million seed funding round into an Australian climate tech firm working to reduce methane emissions — like those from cows. 

Rumin8, a Perth-based startup, said Monday it has closed a Phase 2 seed funding round, bringing its total funding to 25 million Australian dollars, or $17.7 million. The company is developing a seaweed-based feed that would cut methane — a byproduct of the food digestion process — from livestock emissions. 

Rumin8 plans to use the $12 million for activities like commercial trials and developing a pilot manufacturing plant.

Methane is the most common greenhouse gas after carbon dioxide. It is also 25 times more potent than carbon dioxide in trapping heat in the atmosphere, according to the US Environmental Protection Agency.

As livestock accounts for about 15% of global greenhouse gas emissions, there are now global efforts to farm such animals more sustainably.

“The demand for sustainable protein has never been more apparent, which is why BEV is keenly interested in reducing methane emissions from beef and dairy,” Carmichael Roberts, a business lead at BEV’s Investment Committee, said in a press release.

Just last week, Gates appeared upbeat about sustainable meat in a Reddit Ask Me Anything session.

“There are companies making ‘beef’ in new ways and people working to still use cows but reduce the methane emissions,” Gates wrote in the thread. “I think eventually these products will be very good even though their share is small today,” he added. 

And Gates’ BEV isn’t the only one looking at cutting methane emissions from livestock. Last week, French food giant Danone pledged to slash methane emissions from its milk-supplying farms by about one-third by the end of this decade.

New Zealand — a major beef producer — is also proposing to tax the burps from livestock from 2025.

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