Table of Contents

• Adani

• ByteDance

Top Stories Today

Economy & Finance

Adani

Adani Group, one of India's largest conglomerates, is facing intensified scrutiny after U.S. authorities accused its founder, Gautam Adani, of involvement in a $265 million bribery scheme. While Adani denies the allegations, global and domestic stakeholders are responding with caution. Indian banks are reassessing their exposure to the group, though no major systemic risks have been identified. Meanwhile, Adani's shares recovered partially, supported by key investors like Abu Dhabi's IHC and partners like Israel, which reiterated support for its investments. However, fallout from the allegations has led to project cancellations in Kenya, investigations in Sri Lanka and Bangladesh, and a pause on future investments by TotalEnergies. Political tensions have risen, with opposition parties accusing India’s ruling government of shielding Adani from accountability. Despite these developments, investors remain optimistic about India’s long-term growth prospects.

Technology

ByteDance

ByteDance, the owner of TikTok, has filed a lawsuit against a former intern, accusing him of intentionally disrupting the training of its AI systems. The company is seeking approximately $1.1 million in damages, marking an unusual legal move against an intern for such a significant amount. The case has gained notable attention due to its link to AI technology development, a field rapidly advancing globally. ByteDance alleges the intern manipulated code to hinder model training, but the company dismissed exaggerated claims about the financial impact. The accused, reportedly a student at Peking University, has not commented on the allegations.

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