Adani scraps $2.5 billion share sale as value of his empire collapses

London CNN — Indian billionaire Gautam Adani on Wednesday abandoned a deal to raise $2.5 billion from investors after a week-long meltdown in the value of his logistics and energy business empire that started when an American short seller accused the conglomerate of fraud. The share sale — the largest offering by a company already … Read more

Bed Bath and Beyond is closing 87 more stores. See the list

New York CNN — Bed Bath and Beyond is closing another 87 stores as the struggling retailer barrels toward bankruptcy. The closing stores are in addition to the 150 closures Bed Bath and Beyond announced last August. Included in the new list are 5 buybuy Baby locations and all 49 remaining Harmon Face Value stores, … Read more

Tesla confirms DOJ has requested documents on Autopilot, ‘Full Self-Driving’

CNN — Tesla confirmed in a public filing released today that the US Department of Justice has requested documents concerning the company’s controversial driver-assist software systems which Tesla calls Autopilot and “Full Self-Driving.” Tesla said it “has received requests from the DOJ for documents related to Tesla’s Autopilot and FSD features.” Autopilot is a suite … Read more

Why a tiny American firm is taking aim at an Indian conglomerate

Editor’s Note: A version of this story appeared in CNN Business’ Nightcap newsletter. To get it in your inbox, sign up for free, here. New York CNN — Asia’s richest man is in the crosshairs of a research firm whose very name evokes panic. Hindenburg Research — named after the 1937 airship disaster — is … Read more

Premarket stocks: Here’s why you should always wait for the earnings call

A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here. You can listen to an audio version of the newsletter by clicking the same link. New York CNN — Investors are pretty bad at living in the moment. We’re currently in the … Read more

Adani Group slams Hindenburg ‘attack on India’ as stock rout hits $70 billion

New Delhi CNN — The Adani Group has accused a US investment firm of launching “a calculated attack” on India by publishing a report alleging widespread fraud at the ports-to-power conglomerate. Hindenburg Research released its report on billionaire Gautam Adani’s business last week, accusing the group of “brazen stock manipulation and accounting fraud scheme over … Read more

How M&M’S is making the most of its spokescandies controversy

New York CNN — Over the past year, M&M’s has been the subject of Fox News tirades and criticism from a small segment of fans — first for changing the Green M&M’s footwear and more recently featuring female M&M characters on its packaging for International Women’s Day. So this week it announced a change: Following … Read more

Next up for Elon Musk: Crucial Tesla earnings and outlook

New York CNN — Tesla is expected to report record earnings after the bell Wednesday, but it might not be enough to satisfy anxious investors. The company is facing growing doubts about its business after disappointing sales and a series of price cuts for its cars around the world. “I don’t think Q4 matters other … Read more

DOJ sues Google over its dominance in the online advertising market

CNN — The Justice Department and eight states sued Google on Tuesday, accusing the company of harming competition with its dominance in the online advertising market and calling for it to be broken up. The move marks the Biden administration’s first blockbuster antitrust case against a Big Tech company. The eight states joining the suit … Read more

Taylor Swift: Live Nation exec will face lawmakers about concert ticket fiasco

New York CNN — Lawmakers are set to grill top executives from the event ticketing industry on Tuesday after Ticketmaster’s inability to process orders for Taylor Swift’s upcoming tour left millions of fans unable to buy tickets or without their ticket even after purchase. Joe Berchtold, the president and CFO of Ticketmaster parent company Live … Read more