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8:04 AM 1/31/2023 – Did James Kallstrom, a specialist in #FBI-FBI electronic surveillance, Trump’s “top fun boy”, a close associate of Giuliani & Co, pull the “Clinton emails & Weiner sexting show”, his last act of rage and revenge? thenewsandtimes.blogspot.com/2023/01/did-ja… youtube.com/watch?v=7ZVvUs…

8:04 AM 1/31/2023 – Did James Kallstrom, a specialist in #FBI-FBI electronic surveillance, Trump’s “top fun boy”, a close associate of Giuliani & Co, pull the “Clinton emails & Weiner sexting show”, his last act of rage and revenge? thenewsandtimes.blogspot.com/2023/01/did-ja… youtube.com/watch?v=7ZVvUs…
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Blinken in Israel + Katie Holmes in Hasidic play + Getting ‘Santosed’

This article is part of our morning briefing. Click here to get it delivered to your inbox each weekday.

Katie Holmes stars in a play about Hasidim, a Pulitzer Prize winner and the seven-year itch: The Wanderers, a new off-Broadway show about two very different Jewish couples in Brooklyn, features characters who all “have sort of a pebble in their shoe,” explains its playwright, Anna Ziegler, 43, who once spent a summer interning at the Forward. “There’s something that doesn’t feel quite right. They’re all looking over their shoulders to see if there’s some better life out there or some other life that might be more satisfying.” Read the story ➤

 

Getting ‘Santosed’ | Truth-deprived congressman’s name is now a verb: The term is already so ubiquitous that it has several definitions on Urban Dictionary. “When you fall for someone’s bald-faced, outlandish lies,” reads one, using the example of a boyfriend “who said he was a doctor, had a house in the Hamptons, and that his dad was an astronaut; can’t believe I fell for that.” Read the story ➤

How 99% of Nazis got away with murder: The documentary Getting Away With Murder(s) explores why so few Nazis and their collaborators faced justice for their crimes. Speaking to survivors and historians, director David Nicholas Wilkinson reveals just how quickly world governments lost interest in prosecuting Nazis after Nuremberg, shifting their focus to the Cold War. Our PJ Grisar called the film “a fiery indictment of a historic injustice too little heeded and too often rationalized.” Read his review ➤

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The yearbook for Jerry Kowalski’s class of 1968. (Courtesy)

At this yeshiva, academics, religion — oh, and the occasional Playboy mag: Jerry Kowalski attended an all-boys yeshiva in 1960s Brooklyn, where he was part of a rambunctious clique. “When the TV series Welcome Back, Kotter premiered,” he writes, “I could have sworn the storyline was premised on my high school experience.” Some students would play clandestine poker games, while others would sneak out a window to go bowling. Decades later, Jerry bumped into his high school rebbe, who admitted being proud of him despite all that. Read his essay ➤

 

Scrub Daddy’s viral sponges come in kosher options now: Why did the brand, which leans heavily into a social media strategy replete with sexual innuendo, decide to use TikTok to sell and promote a product for observant Jews? Our digital culture reporter, Mira Fox, investigates. Read the story ➤

 

But wait, there’s more…

  • There were a handful of shtetls in Ukraine and Moldova that survived the Holocaust, and endured for decades. Shtetlers, a documentary telling their stories, debuts Friday on Apple TV+.

  • Roughly 100 schools, congregations and Jewish organizations have signed an open letter to Elon Musk denouncing antisemitism on Twitter.
  • When friends refused to take a COVID-19 test before getting together, a reader felt disrespected. She asked our Bintel Brief advice column if she should end the relationship. “It’s so, so easy to want to just let things go,” counseled Bintel. “But you shouldn’t.”

ISRAEL NEWS

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(Getty)

  • Standing alongside Prime Minister Benjamin Netanyahu on Monday in Jerusalem, U.S. Secretary of State Antony Blinken called on Israel to maintain its strong democracy and reconsider the far-right government’s attempts to overhaul it. With the region on edge after a Palestinian gunman killed seven Israeli Jews as they left an East Jerusalem synagogue on Friday night and a deadly Israeli raid on the Jenin refugee camp the day before, Blinken is set to meet today with Palestinian Authority President Mahmoud Abbas in Ramallah.
  • Former Prime Minister Naftali Bennett, speaking at a Manhattan synagogue Monday night, urged American Jews not to give up on Israel because of the new government’s moves to undermine the independent judiciary and other initiatives. He assured the audience that most Israelis favor democracy and encouraged them to keep voicing their views and engage with Israel’s leaders.
  • Meanwhile, Amichai Chikli, Israel’s new minister of diaspora affairs, in an interview with our Jacob Kornbluh, was unapologetic about his government’s agenda and blamed political foes for eroding relations with American Jews.
  • Israel’s new version of Air Force One, dubbed the Wing of Zion, is taking test flights but will likely not be ready for Netanyahu’s trip to Paris on Thursday to meet French President Emmanuel Macron. The plane was commissioned under the previous government but then shelved, and has been in storage. 

NEW PODCAST EPISODE

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Are you subscribed to our new podcast, Playing Anne Frank? The show debuted last week and is already the No. 8 ranked performing arts podcast in the U.S. Episode 3 dropped this morning; it explores the lives of actors from the original Broadway production of The Diary of Anne Frank, in 1955, who went on to pursue widely-divergent careers at places like the Metropolitan Museum, Vogue magazine and Hollywood. One created an extremely successful TV show while another became an internationally-renowned photographer. Listen now ➤

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WHAT ELSE YOU NEED TO KNOW TODAY

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(Netflix)

💑  Two stars of Shtisel will be reuniting for a miniseries about a family that survived the Holocaust. Actors Michael Aloni and Hadas Yaron, who played Akiva and Libbi on Shtisel (pictured above), will once again play a married couple in the new show, which is being made by Hulu and based on the 2017 bestselling book We Were the Lucky Ones. (Kveller)

 

🇩🇪  Germany returned a 16th century sculpture to the heirs of Jakob Goldschmidt, a banker who fled soon after Hitler came to power. The sculpture shows Mary nursing an infant Jesus and has been on display at the German Museum in Ulm since 1993. (JTA

 

🔫  In a wide-ranging interview, former Rep. Gabby Giffords, who survived an assassination attempt in 2011, talks about her gun safety advocacy work, her late-in-life bat mitzvah and forgiveness. “I’ve never given up hope,” she said. (New York Times)

 

🇦🇪  A museum in the United Arab Emirates unveiled a new exhibit featuring a Torah scroll that survived the Holocaust, part of a new effort to change the Arab public’s  understanding of Jewish history. (Reuters)

 

📚  The top prizes for Jewish children’s literature in 2022 are out and the winners include an illustrated book about a Holocaust survivor who collected thousands of photos and and two works of fantasy featuring dybbuks and Jewish demons. (JTA)

 

🍳  Tali Friedman, an Israel-based cooking instructor, provides celebrities and politicians an authentic experience at Jerusalem’s bustling Machane Yehuda market. Her clients include Martha Stewart, Mitt Romney and Ivanka Trump. (NY Post

 

Shiva call ➤  Avi Poster, a Jewish communal leader who built bridges between Nashville’s Jews and Muslims, died at 77.

What else we’re reading ➤  The Israeli vegan chef who cannot stand vegans … What monks can teach us about paying attention … On a family journey to Morocco’s southern coast, a writer reckons with his Jewish heritage.

ON THE CALENDAR

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An exhibit of historical images from the Forward’s archives went on display this week at the University of Pittsburgh. Get more info here, and watch the video above for a behind-the-scenes look at the exhibit, which first went on display in 2019 in New York. It’s slated to be in Pittsburgh through April.

On this day in history (1937): Philip Glass was born in Baltimore to Lithuanian immigrant parents. Glass, a pianist, is considered one of the most influential composers of the later 20th century, known for his minimalist musical style. He has written 25 operas, 14 symphonies and three Academy Award-nominated film scores. Test your knowledge on the famous composer with our Philip Glass pop quiz.

 

Last year on this day, we released our ranking of the 150 greatest Jewish pop songs of all time, along with a series of essays that explored Bob Dylan’s Talmudic masterpiece, the most massive bar mitzvah hit of all time, Mel Brooks’ Hitler diddy and much more. Check it out ➤

In honor of National Hot Chocolate Day, try Molly Yeh’s recipe for tahini hot chocolate. You’re welcome.

PHOTO OF THE DAY

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(Laura E. Adkins)

On the last leg of his trip to Poland and Germany, Doug Emhoff, the second gentleman of the United States, got a tour of the Oranienburgerstrasse Synagogue in Berlin, where he also met with Ukrainian refugees. Earlier today, Emhoff also participated in a roundtable with Jewish, Muslim, and Christian leaders on the importance of interfaith collaboration in combating antisemitism. 

Follow our traveling Laura E. Adkins on Twitter for the latest from the trip.

 

Thanks to Laura E. Adkins, Beth Harpaz, Jacob Kornbluh, Adam Langer, Sarah Nachimson, Chana Pollack, and Talya Zax for contributing to today’s newsletter. You can reach the “Forwarding” team at editorial@forward.com.

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The post Blinken in Israel + Katie Holmes in Hasidic play + Getting ‘Santosed’ appeared first on The Forward.

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Did James Kallstrom, a specialist in #FBI-FBI electronic surveillance, Trump’s “top fun boy”, a close associate of Giuliani & Co, pull the “Clinton emails & Weiner sexting show”, his last act of rage and revenge (the details to be investigated!); & then died, the ultimate cover?

 Michael Novakhov’s favorite articles 

Born In America @tmv44p56sd

posted at 11:26:38 UTC by Born In America via Tweets by ‎@mikenov
Michael Novakhov @mikenov

posted on Jan 30 2023 14:54:55 UTC by Michael Novakhov via Tweets by ‎@mikenov
Did James Kallstrom, a specialist in #FBI-FBI electronic surveillance, Trump’s “top fun boy”, a close associate of Giuliani & Co, pull the “Clinton emails & Weiner sexting show”, his last act of rage and revenge (the details to be investigated!); & then died, the ultimate cover?

FnumOHhX0AEYm6u.jpg:large

Michael Novakhov @mikenov

posted on Jan 30 2023 15:56:46 UTC by Michael Novakhov via Tweets by ‎@mikenov
james kallstrom – Google Search google.com/search?q=james… google.com/url?sa=i&url=h…

Michael Novakhov @mikenov

posted on Jan 30 2023 15:56:46 UTC by Michael Novakhov via Tweets by ‎@mikenov
james kallstrom – Google Search google.com/search?q=james…

nytimes.com/2021/07/08/us/…

Michael Novakhov @mikenov

posted on Jan 29 2023 22:59:16 UTC by Michael Novakhov via Tweets by ‎@mikenov
#FBI FBI

Was the now-tainted McGonigal a source who told the New York Times that fateful October that Russia was not trying to help Trump win the election … ?!

The NYT should tell readers whether it helped crooked FBI agents get Trump elected in 2016 inquirer.com/opinion/commen…

Michael Novakhov @mikenov

posted on Jan 29 2023 22:59:16 UTC by Michael Novakhov via Tweets by ‎@mikenov
The NYT should tell readers whether it helped crooked FBI agents get Trump elected in 2016 inquirer.com/opinion/commen…

Michael Novakhov @mikenov

posted on Jan 30 2023 10:47:04 UTC by Michael Novakhov via Tweets by ‎@mikenov
Michael Novakhov retweeted:
The Investigations of #Trump will inevitably lead to the investigation of the #FBI. Their antagonisms are just a cover, a complex plot . INVESTIGATE THE INVESTIGATORS, and the Trumpistas among them especially. Reform or abolish the FBI, before they produce their next #Trumpushka!

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Michael Novakhov @mikenov

posted on Jan 30 2023 10:47:04 UTC by Michael Novakhov via Tweets by ‎@mikenov
Michael Novakhov @mikenov

posted on Jan 30 2023 11:17:55 UTC by Michael Novakhov via Tweets by ‎@mikenov
#FBI #NYT #Trump #McGonigal #Elections2016

The NYT should tell readers whether it helped crooked FBI agents get Trump elected in 2016 thenewsandtimes.blogspot.com/2023/01/the-ny…

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Michael Novakhov @mikenov

posted on Jan 30 2023 11:17:55 UTC by Michael Novakhov via Tweets by ‎@mikenov
#FBI FBI:

How did 650,000 emails land in the Abedin – Weiner laptop?

Were they deliberately dumped there?

By whom and how?

Was this issue adequately investigated?

Or was it conveniently ignored?

GS: google.com/search?q=How+6… sacbee.com/latest-news/ar…

sacbee.com/latest-news/ar…

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Michael Novakhov @mikenov

posted on Jan 30 2023 11:49:03 UTC by Michael Novakhov via Tweets by ‎@mikenov
#FBI:
Did the girl who engaged Anthony Weiner in sexting (by her own admission), & those behind her(!) use his email address to dump the potentially and supposedly classified emails into his and Abedin laptop?
Did the FBI play any part in it?
Ask the girl’s “protective” father.

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Michael Novakhov @mikenov

posted on Jan 30 2023 12:19:38 UTC by Michael Novakhov via Tweets by ‎@mikenov
“FBI bias did affect the election, and the bias was, in a sense, pro-Clinton. But the bias didn’t help Clinton. It destroyed her.”

FBI ignored Anthony Weiner’s laptop and it may have cost Hillary Clinton the election. slate.com/news-and-polit…

Michael Novakhov @mikenov

posted on Jan 30 2023 12:50:00 UTC by Michael Novakhov via Tweets by ‎@mikenov
“…the [IG] report finds no evidence that the three-week delay was a conspiracy to hurt Clinton. It was a product of [FBI] neglect.”
#DOJ: this “neglect” was CRIMINAL!
#FBI ignored Anthony Weiner’s laptop and it may have cost Hillary Clinton the election. slate.com/news-and-polit…

Clifford Ribner @cliffordribner

posted on Jan 30 2023 12:50:00 UTC by Clifford Ribner via Tweets by ‎@mikenov
Michael Novakhov retweeted:
Unconstitutional Federal Government Actions have Poisoned our Entire Judicial System #corruption #doj #fbi #immigration #justice #SupremeCourt @cliffordribner cliffordribner.com/?p=347802&wpwa…
Michael Novakhov @mikenov

posted on Jan 30 2023 12:50:00 UTC by Michael Novakhov via Tweets by ‎@mikenov
“The FBI officials who feared Trump’s election … didn’t hand the election to her. They may have taken it away from her.”
MN: And it might have been exactly the plan!

FBI ignored Anthony Weiner’s laptop and it may have cost Hillary Clinton the election. slate.com/news-and-polit…

Michael Novakhov @mikenov

posted on Jan 30 2023 13:52:48 UTC by Michael Novakhov via Tweets by ‎@mikenov
How Clinton’s emails got on Weiner’s laptop? – Google Search google.com/search?q=How+C… nola.com/opinions/about…

Michael Novakhov @mikenov

posted on Jan 30 2023 14:24:19 UTC by Michael Novakhov via Tweets by ‎@mikenov
“Huma Abedin backed up emails to Anthony Weiner’s laptop | Daily Mail Online”

Or so clams the Daily Mail!

dailymail.co.uk/news/article-5…

Michael Novakhov @mikenov

posted on Jan 30 2023 14:24:19 UTC by Michael Novakhov via Tweets by ‎@mikenov
“Agents were focused on how Abedin’s and Clinton’s messages ended up on a laptop used by Weiner … Abedin was unsure how her emails could have ended up on the laptop …”

Clinton aide Huma Abedin was interviewed by the FBI last winter … – WP

washingtonpost.com/world/national…

Michael Novakhov @mikenov

posted on Jan 30 2023 14:24:19 UTC by Michael Novakhov via Tweets by ‎@mikenov
How 650,000 emails landed in the Abedin – Weiner laptop? – Google Search google.com/search?q=How+6…

FnucipSXkAAUOJJ.jpg:large

Michael Novakhov @mikenov

posted on Jan 30 2023 15:56:46 UTC by Michael Novakhov via Tweets by ‎@mikenov
#FBI FBI #DOJ DOJ #Election2016:

Weiner’s laptop:
Did James Kallstrom, a specialist in #FBI-FBI electronic surveillance, Trump’s “top fun boy”, a close associate of Giuliani & Co, pull the “Clinton emails & Weiner sexting show”?

thenewsandtimes.blogspot.com/2023/01/about-… youtube.com/watch?v=7ZVvUs…

The News And Times Information Network – Blogs By Michael Novakhov – thenewsandtimes.blogspot.com
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Watchdog Inquiry Falls Short in Hunt for 2016 F.B.I. Leakers nytimes.com/2021/08/05/us/…

Watchdog Inquiry Falls Short in Hunt for 2016 F.B.I. Leakers nytimes.com/2021/08/05/us/…
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Exxon smashes Western oil majors“ earnings record with $56 billion profit for 2022

2023-01-31T12:39:57Z

Exxon Mobil logo and stock graph are seen through a magnifier displayed in this illustration taken September 4, 2022. REUTERS/Dado Ruvic/Illustration

Exxon Mobil Corp (XOM.N) posted a $56 billion profit for 2022, the company said on Tuesday, taking home about $6.3 million per hour last year, and setting not only a company record but a historic high for the Western oil industry.

Oil majors are expected to break their own annual records on high prices and soaring demand, pushing their combined take to near $200 billion. The scale has renewed criticism of the oil industry and sparked calls for more countries to levy windfall profit taxes on the companies.

Exxon’s results far exceeded the then-record $45.2 billion net profit it reported in 2008, when oil hit $142 per barrel, 30% above last year’s average price. Deep cost cuts during the pandemic helped supercharge last year’s earnings.

“Overall earnings and cashflow were up pretty significantly year on year,” Exxon Chief Financial Officer Kathryn Mikells told Reuters. “So that came really from a combination of strong markets, strong throughput, strong production, and really good cost control.”

Exxon said it incurred a $1.3 billion hit to its fourth-quarter earnings from a European Union windfall tax that began in the final quarter and from asset impairments. The company is suing the EU, arguing that the levy exceeds its legal authority.

Excluding charges, profit for the full year was $59.1 billion. Production was up by about 100,000 barrels of oil and gas per day over a year ago to 3.8 million bpd. Adjusted per share profit of $3.40 beat consensus of $3.29 per share, according to Refinitiv data.

Shares were down 1.5% in pre-market trading to $111.88.

The results may set up another confrontation with the White House. President Joe Biden’s administration on Friday blasted oil firms for pouring cash into shareholder payouts rather than production.

Exxon boasted that its cash flow from operations soared to $76.8 billion last year, up from $48.1 billion in 2021.

Windfall profit taxes are “unlawful and bad policy,” countered Mikells. Slapping new taxes on oil earnings “has the opposite effect of what you are trying to achieve,” she said, adding that it would discourage new oil and gas production.

Exxon posted $14 billion in fourth-quarter profit excluding charges, 60% more than the same period last year but down almost 25% from the previous quarter as oil prices eased and some operations suffered from cold-weather-related outages.

Exxon’s spending on new oil and gas projects bounced back last year to $22.7 billion, up 37% from the prior year. The company increased outlays on discoveries in Guyana, in the top U.S. shale field, and on fuel refining and chemicals.

“The counter-cyclical investments we made before and during the pandemic provided the energy and products people needed as economies began recovering,” Exxon Chief Executive Officer Darren Woods said in a statement.

Its results come ahead of what are expected to be strong earnings from Shell plc on Thursday and from BP plc and TotalEnergies next week.

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Families search for loved ones after Pakistan mosque blast kills 100

2023-01-31T12:33:19Z

Distraught relatives thronged hospitals in Pakistan’s Peshawar on Tuesday to look for their kin a day after a suicide bombing ripped through a crowded mosque in a heavily fortified area of the city, killing 100 people, mostly policemen.

The attack, in the Police Lines district, was the deadliest in a decade to hit this restive, northwestern city near the Afghan border and comes amid a surge in violence against the police. No group has claimed responsibility.

“My son, my child,” cried an elderly woman walking alongside an ambulance carrying coffins, as rescue workers stretchered wounded people to a hospital emergency unit.

At least 170 people were wounded in the blast, which demolished the upper storey of the mosque as hundreds of worshippers performed noon prayers.

Riaz Mahsud, a senior local government official, said the casualty toll was likely to rise as workers searched through the debris just over 24 hours later.

“So far, 100 bodies have been brought to Lady Reading Hospital,” spokesman for the largest medical facility in the city, Mohammad Asim, said in a statement.

Authorities say they do not know how the bomber managed to breach the military and police checkpoints leading into the Police Lines district, a colonial-era, self-contained encampment in the city centre that is home to middle- and lower-ranking police personnel and their families.

Given the security concerns in Peshawar, the mosque was recently built to allow police to pray without leaving the area. Defence minister Khawaja Asif said the bomber was in the first row in the prayer hall when he struck.

The attack is the deadliest in Peshawar since twin suicide bombings at All Saints Church killed scores of worshippers in September 2013, in what is the deadliest attack on Pakistan’s Christian minority.

Peshawar sits on the edge of the Pashtun tribal lands, a region mired in violence for the past two decades. The most active militant group in the area is the Pakistani Taliban, also called Tehreek-e-Taliban Pakistan (TTP), an umbrella group for Sunni and sectarian Islamist factions opposed to the government in Islamabad.

The TTP denied responsibility for Monday’s bombing, though it has stepped up attacks since withdrawing from a peace deal with the government last year.

The bombing took place a day before an International Monetary Fund (IMF) mission arrives in Islamabad for talks on a stalled $7 billion bailout.

Related Galleries:

Rescue workers clear the rubble as they search for victims, after a suicide blast in a mosque in Peshawar, Pakistan January 31, 2023. REUTERS/Fayaz Aziz

People and rescue workers gather to look for survivors under a collapsed roof, after a suicide blast in a mosque in Peshawar, Pakistan January 30, 2023. REUTERS/Fayaz Aziz

Chief of Army Staff (COAS) of Pakistan Asim Munir and Pakistan’s Prime Minister Shehbaz Sharif visit an injured, after a suicide blast in a mosque, at a hospital in Peshawar, Pakistan January 30, 2023. Prime Minister’s Office/Handout via REUTERS

People and rescue workers gather amid the damages, after a suicide blast in a mosque in Peshawar, Pakistan January 30, 2023. REUTERS/Fayaz Aziz

A man, who was injured after a suicide blast in a mosque, receives medical aid at a hospital in Peshawar, Pakistan January 31, 2023. REUTERS/Fayaz Aziz

A woman reacts as she searches for her relatives, after a suicide blast in a mosque in Peshawar, Pakistan January 30, 2023. REUTERS/Fayaz Aziz
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GM reports higher quarterly profit, expects strong earnings in 2023

2023-01-31T12:33:33Z

General Motors Co (GM.N) on Tuesday reported a higher quarterly net income for the fourth quarter, and forecast stronger-than-expected earnings in 2023, sending its shares up over 5% in premarket trading.

The company expects its core auto operations to perform at a consistently strong level in 2023, with full-year net income attributable to stockholders of $8.7 billion-$10.1 billion, adjusted EBIT of $10.5 billion-$12.5 billion, and diluted and adjusted earnings per share of $6.00-$7.00. Analysts had expected $5.73 a share, according to Refinitiv IBES data.

For the full year, GM’s profit dropped to $9.9 billion from $10 billion in 2021. EBIT-adjusted income of $14.5 billion was a record, up slightly from $14.3 billion a year earlier.

The company expects adjusted automotive free cash flow of $5.0 billion to $7.0 billion in 2023, with net automotive cash from operating activities of $16.0 billion to $20.0 billion.

In the fourth quarter, GM earned $2.0 billion, up from $1.7 billion the previous year. EBIT-adjusted income of $3.8 billion topped the year-earlier $2.8 billion, as higher prices and increased sales volume in North America more than offset higher costs.

GM’s average vehicle selling price in North America hit a record $51,000 in 2022, as the company focused production on more expensive, higher-margin vehicles.

Diluted adjusted earnings per share of $2.12 in the quarter compared with $1.99 a year earlier. Analysts had predicted $1.69.

GM said capital spending will range between $11 billion and $13 billion in 2023, up from $9 billion in 2022.

Ahead of the earnings release, the automaker said it would invest $650 million in Lithium Americas and jointly develop a lithium mine in Nevada that it says is the largest known source of the key battery material in the United States.

The company expects revenue from electric vehicles to reach $50 billion in 2025 — about 22% of total revenue — with pre-tax margins in the low to mid-single digits.

GM reaffirmed plans to build a fourth battery plant in the U.S., but did not say when.

Related Galleries:

A Cadillac Lyriq electric vehicle (EV) under General Motors is seen during its world premiere on a media day for the Auto Shanghai show in Shanghai, China April 19, 2021. REUTERS/Aly Song

The GM logo in Detroit, Michigan, U.S., March 16, 2021. REUTERS/Rebecca Cook
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Michael Novakhov retweeted: @Sconaboy1 #FBI

Michael Novakhov retweeted:

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Adani $2.5B share sale pushes through amid fraud claims

NEW DELHI (AP) — The closely watched $2.5 billion share sale launched by Asia’s richest man, Gautam Adani, was fully subscribed on Tuesday, bucking expectations after a turbulent week in which the conglomerate’s shares plunged in a tussle with a U.S. short-seller.

Before trading closed on Tuesday, over 100% of shares in the Indian group’s flagship Adani Enterprises was subscribed, according to Bombay Stock Exchange. While some Adani-linked shares went up, three were still down between 5% to 10%.

The share sale and its success were seen as a crucial test of investor confidence in Adani, whose sprawling empire shed tens of billions of dollars within a week after Hindenburg Research accused the conglomerate of stock market manipulation and fraud.

Adani, 60, has since slid on Bloomberg’s Billionaire Index from being the world’s third richest person to the 11th, as his net worth shrank more than $30 billion to an estimated $84 billion.

Hindenburg, which said it was betting against the Adani Group, accused it of “pulling the largest con in corporate history”. It said it judged the seven key Adani listed companies to have an “85% downside, purely on a fundamental basis owing to sky-high valuations.”

The short-selling firm said its report followed a two-year investigation. Most of the allegations involved concerns about the group’s debt levels, activities of top executives, use of offshore shell companies to artificially boost share prices and past investigations into fraud. It listed 88 questions for the group to answer.

On Sunday, the Adani Group dismissed Hindenburg’s allegations and issued a 413-page report that rejected its questions, saying none of them were “based on independent or journalistic fact finding.” Adani’s response included documents and data tables and said the group has made all necessary regulatory disclosures and has abided by local laws.

Hindenburg responded by saying Adani had answered only 26 of its 88 questions and failed to address many of the issues it raised.

The share sale, which began Friday, had seen mostly poor demand until Tuesday. Other Adani stocks were still down, so “it’s a mixed reaction,” said Brian Freitas, a New Zealand-based analyst with Periscope Analytics who has researched the Adani Group. The share price of Adani Enterprises, which stood at 2,948 rupees ($36) on Tuesday evening, was still below the initial price band of 3,112 rupees to 3,279 rupees.

Freitas said the report was unlikely to have a long-term effect on the Indian market, but could continue to cast a shadow over Adani stocks until the matter is put to rest. “Indian investors are well versed with their market – foreign investors look at global markets, so if there is an issue of corporate governance in a country, they might look at it more closely,” Freitas added.

Late on Monday, Abu Dhabi-based conglomerated International Holding Co. said it will make a $381 million investment into Adani Enterprises. The company, whose chairman is the United Arab Emirates’ national security adviser, had invested $2 billion last year in some of Adani’s subsidiaries.

___

Associated Press writer Jon Gambrell in Dubai, United Arab Emirates, contributed to this report.

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MEPs visit Rada, discuss Russia’s accountability for war crimes

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Initial Deputy Chairman of the Verkhovna Rada, Oleksandr Korniyenko, at a conference with the users of the European Parliament, emphasized that the international neighborhood should urgently and decisively reply to Russian terrorism.

The lawmaker posted the report on Facebook, in accordance to Ukrinform.

“We are glad to welcome MEPs to the money of invincibility — below in Kyiv, Ukraine. Currently I experienced a assembly with Timmy Dooley and Billy Kelleher in the Verkhovna Rada. We go on our cooperation with the EU and its reps. We talked about Ukraine. About terror. About missiles released by the Russian Federation. About cruelty. About individuals who are to blame for this. About duty for the crimes dedicated. The Ukrainian facet believes that the international neighborhood ought to urgently and decisively respond to Russian terrorism. We hope for a rate-up of the in depth international isolation of Russia, swift introduction and rigid implementation of all sanctions, and a important raise in political, economic, economical, army-complex, and humanitarian aid for Ukraine,” claimed Korniyenko.

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According to the legislator, Ukraine, like no other, is intrigued in setting up peace and ending the unprovoked war of destruction unleashed by Russia.

“In order for peace to be definitely sustainable, it need to be based mostly on crystal clear conditions, in individual, the restoration of Ukraine’s territorial integrity in just internationally recognized borders and the avoidance of further escalation, which is probable only if the Kremlin’s war equipment is ruined,” the 1st Deputy Chairman of the Verkhovna Rada pressured.

In this context, Korniyenko recalled the Peace Method set ahead by President Volodymyr Zelensky, which is not only aimed at setting up peace in Ukraine, but also has a global dimension, particularly the restoration of regard for the UN Constitution and the entire world order. “We assume that the EU, provided its job and likely in the modern day environment, will turn into a permanent participant in the implementation of all 10 details and aid the main states and other contributors in advancing them,” he mentioned.

He also educated that during the conference he experienced the possibility to personally praise the approval of the European Parliament’s resolution supporting the establishment of the Distinctive Tribunal for the crime of aggression against Ukraine.

“It is important to achieve an arrangement as before long as feasible on a mutually satisfactory prosecution mechanism for the crime of Russian aggression in Ukraine,” Korniyenko emphasized.

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In addition, he pointed out that the President, Verkhovna Rada, and Governing administration of Ukraine “are united close to the marketing of European integration reforms in the region and are identified to move towards EU membership even with the war, as quickly as probable.”

“We are planning to present the success of Ukraine’s implementation of all seven recommendations of the European Commission at the Ukraine-EU Summit, and we assume a beneficial assessment of our endeavours by the EU,” mentioned the lawmaker.

He also thanked the EU as a whole and every single EU place for the help currently supplied to Ukraine, and emphasised the need to have for this support to be much more systematic.

“We need to have a money coordination platform that will unite attempts to rebuild our country in the publish-war period of time. Consolidation is demanded. We have formulated a transparent prepare of priority actions in reconstruction — this is what Ukraine actually needs to survive,” Korniyenko included.

As noted, a team of eight users of the European Parliament is viewing Ukraine from January 30 to February 2 in opposition to the track record of the make-up of Russian troops in close proximity to the Ukrainian border.

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