Adani Group stocks surged on Friday after the Securities and Exchange Board of India (SEBI) cleared the group of fraud charges. SEBI dismissed all allegations made by US short seller Hindenburg Research in its January 2023 report. Adani Total Gas rose 10%, Adani Power jumped 7.4%, while Adani Enterprises gained 4.3%. SEBI said the transactions under review did not violate rules at that time and all loans were repaid. Chairman Gautam Adani welcomed the decision, saying the claims were baseless. He said the report caused huge investor losses and demanded an apology from those spreading false narratives. (PC: NDTV)

Markets regulator SEBI has dismissed all allegations made by US short seller Hindenburg Research against the Adani Group. SEBI said there were no violations in the transactions between Adani companies and other firms, and all loans were repaid. The regulator confirmed that funds were used properly and no fraud was found. Adani Group chairman Gautam Adani said the findings proved the Hindenburg claims were “baseless.” He added that the report hurt investors and demanded an apology from those who spread false stories. Former SEBI director JN Gupta said the order gave final closure on the issue. (PC: NDTV)

The Securities and Exchange Board of India (Sebi) has dismissed allegations of stock manipulation made by US-based short seller Hindenburg Research against Gautam Adani and Adani Group firms. In an official filing on Thursday, Sebi said its investigation could not establish any wrongdoing by Adani companies, including Adani Ports and Adani Power. The regulator confirmed that no liability or penalties would apply. Kamlesh C. Varshney, Sebi’s whole-time member, stated that the matter has been disposed of without directions. Hindenburg’s claims, first made in 2023, had caused major controversy and market turbulence around the Adani Group. (PC: Reuters)

Mother Dairy has announced a price cut across its dairy and processed food products following the government’s GST 2.0 overhaul. Effective September 22, the company will pass on 100% of the tax benefits to consumers, with most items now falling under the zero or 5% GST slab. Prices of paneer, butter, cheese, ghee, milkshakes, and ice creams are dropping e.g., butter (500g) now costs ₹285, down from ₹305. UHT milk sees a ₹2 reduction, but regular pouch milk remains unchanged due to its GST-exempt status. Managing Director Manish Bandlish emphasized the consumer-centric move. With this initiative, Mother Dairy leads the way, and consumers await similar steps from other FMCG brands. (PC: ET Retail & News 18)

Amazon suspended Palestinian software engineer Ahmed Shahrour after he publicly opposed Project Nimbus, the company's $1.2 billion cloud computing contract with Israel's government. Shahrour, who works for Amazon's Whole Foods in Seattle, criticized the 2021 collaboration with Google that provides Israel with AI, data centers, and infrastructure through internal Slack channels and a letter to CEO Andy Jassy. Amazon cited policy violations, revoking his system access and deleting messages. Shahrour wrote he experiences "constant dissonance" working while his people in Gaza suffer, urging colleagues to oppose the contract. Critics argue Project Nimbus technology could support military operations and surveillance in occupied Palestinian territories. Amazon spokesperson Brad Glasser stated they don't tolerate threatening workplace behavior. (PC: NDTV)

The European Union is unlikely to impose steep tariffs on India and China despite President Trump's pressure during Washington talks this week. Trump urged 100% tariffs on both nations to squeeze Russia's energy revenues by targeting major Russian oil buyers. EU sources explained that unlike sanctions, tariffs require formal investigations lasting months to establish legal basis. The EU has already tightened Russia sanctions, adding Chinese banks and an Indian refinery in July, but considers sweeping tariffs a separate, higher threshold matter. Brussels is negotiating a trade agreement with New Delhi and won't jeopardize it. Officials warn broad tariffs are risky and overly blunt compared to targeted entity listings. (PC: Mint & News 18)

Hyundai and Tata Motors announced car price cuts following GST rate reductions effective September 22. The 56th GST Council reduced taxes on small cars from 28% to 18%, while SUVs face 40% tax without cess and electric vehicles remain at 5%. Both companies will pass complete benefits to customers. Hyundai's biggest cuts include Tucson at Rs 2.4 lakh, i20 N Line at Rs 1.08 lakh, and Venue at Rs 1.23 lakh. Tata's reductions range from Tiago at Rs 75,000 to Nexon at Rs 1.55 lakh and Safari at Rs 1.45 lakh. This follows similar announcements by Mahindra and Renault. Both companies emphasized the reform will boost consumer confidence and make personal mobility more accessible across India.

The GST Council plans additional levies on tobacco and related products beyond the new 40% GST rate to protect state revenues after compensation cess ends. Finance Minister Nirmala Sitharaman announced a special 40% GST slab for "sin goods" including pan masala, cigarettes, zarda, and unmanufactured tobacco, effective September 22. Despite higher GST rates, overall tax incidence will remain 52-88%, matching current levels through supplementary duties. The compensation cess, originally implemented in 2017 for five years and extended until March 2026 due to pandemic-related state revenue losses, will be phased out gradually. Current 28% GST plus cess structure continues until November-December while compensation liabilities are fulfilled, preventing potential state revenue shortfalls. (PC: Health hub)

US President Donald Trump hosted prominent tech executives at a White House dinner Thursday, emphasizing AI advancements and corporate investments. The high-profile gathering included five notable Indian-American leaders: Microsoft CEO Satya Nadella, Google CEO Sundar Pichai, Micron Technologies CEO Sanjay Mehrotra, TIBCO Chairman Vivek Ranadive, and Palantir CTO Shyam Sankar. Trump described attendees as "high IQ people" taking the country "to a new level." Originally planned for the Rose Garden, the event moved to the State Dining Room due to weather. Earlier, First Lady Melania Trump chaired the newly formed Artificial Intelligence Education Task Force meeting with participating tech leaders. The dinner underscores the administration's focus on AI innovation and strengthening ties with tech industry leaders driving America's technological advancement.

Tesla has received disappointing booking numbers in India, with just over 600 Model Y orders since its July launch. The company plans to ship 350-500 cars to India this year, with the first batch arriving from Shanghai in early September. Tesla launched the Model Y at approximately $70,000, reflecting India's high import tariffs on EVs. The company targets a niche market where EVs represent only 4% of total sales, operating in four cities: Mumbai, Delhi, Pune, and Gurugram. Meanwhile, Tesla faces continued sales declines across European markets, with France down 47.3% and Sweden dropping 84%, though Norway, Spain, and Portugal showed growth amid fierce competition from Chinese rival BYD. (PC: Reuters)