FT News Briefing Adani tries to win back investors
May 23, 2023
Tensions are rising as China worries that Japan's tougher export restrictions could surpass U.S. measures on semiconductors. Meta faces a staggering €1.2 billion fine for privacy breaches in the EU. Meanwhile, the Adani Group is working hard to regain investor trust following fraud allegations, embarking on a special tour for bankers to showcase its assets. Amidst this, the company is attempting a risky $2.5 billion fundraising strategy, all while TikTok battles a legal challenge in Montana over national security issues.
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China Fears Japan's Chip Restrictions
- Chinese executives are more worried about Japan's chipmaking equipment export restrictions than U.S. regulations.
- These Japanese restrictions risk impacting the production of widely used lower-grade silicon chips.
Record Fine for Meta
- Meta received a record €1.2 billion fine from Irish regulators for EU privacy violations.
- The Irish Data Protection Commission also ordered Meta to stop transferring EU user data to the U.S. due to insufficient safeguards.
Adani's Stock Surge
- Adani Group's stocks surged after reports suggested Indian regulators faced difficulty in their probe.
- Adani is attempting to regain investor trust after Hindenburg's allegations.