Billionaire Kumar Mangalam Birla’s Hindalco Industries Ltd. is considering seeking about $1.2 billion in a planned initial public offering of US aluminum products maker Novelis Inc., people familiar with the matter said, in what could be one of the year’s biggest share sales. Hindalco may target a valuation of about $18 billion for Atlanta-based Novelis, … Read more
JPMorgan Chase & Co has sued Tesla Inc for $162.2 million, accusing Elon Musk‘s electric car company of “flagrantly” breaching a contract the two corporate giants agreed in 2014 relating to warrants Tesla sold to the bank. Warrants give the holder the right to buy a company’s stock at a set “strike” price and date. … Read more
By Vildana Hajric and Eric Lam Bitcoin to $100,000. Bitcoin to the moon. Bitcoin to infinity. The world’s largest cryptocurrency is staging a comeback that has taken it up more than 50% from recent lows, reviving animal spirits and coaxing out sky-high price targets that, while a source of comedy for some, emerge when the … Read more
NEW YORK/HONG KONG: US investor Sung Kook “Bill” Hwang was looking for a second chance on Wall Street after falling from grace and shutting his multibillion-dollar hedge fund firm. Japan’s Nomura Holdings Inc gave him one. Nomura had previously had a relationship with Hwang’s Tiger Asia Management LLC before the investment firm shut down in … Read more