Tag: usnews

Why Did Hindenburg, the Short-Seller Behind Adani’s $150 Billion Market Crash, Shut Down?

by educatekaroin News, Business, PeopleLeave a Comment on Why Did Hindenburg, the Short-Seller Behind Adani’s $150 Billion Market Crash, Shut Down?

Hindenburg Research, known for its critical reports on Gautam Adani, is shutting down after achieving its goals. The firm’s 2023 report triggered a $150 billion selloff in Adani Group’s shares, though most losses were later recovered. Founder Nathan Anderson cited a planned conclusion after completing investigations as the reason for closure.

Founded with no traditional finance background, Hindenburg faced early lawsuits and financial struggles. Its 11-member team led investigations resulting in charges against nearly 100 individuals. Anderson highlighted their impact, saying, “We shook empires that needed shaking,” while acknowledging the toll the work took on personal lives.

Read more on Economic Times.

Microsoft Pauses Hiring in U.S. Consulting Division Amid Cost-Cutting Efforts

by educatekaroin News, AI, Startup, TechLeave a Comment on Microsoft Pauses Hiring in U.S. Consulting Division Amid Cost-Cutting Efforts

Microsoft is taking steps to tighten its budget by temporarily halting hiring in its U.S. consulting division, as shared in an internal memo. The decision, first reported by CNBC, is part of the company’s broader strategy to manage expenses while prioritizing significant investments in artificial intelligence (AI).

Derek Danois, a leader in Microsoft’s consulting arm, explained that the hiring freeze includes backfilling existing roles. The team has also been asked to cut back on travel for internal meetings, opting for remote sessions, and to reduce marketing and non-essential spending by 35%.

These adjustments come as Microsoft continues to pour resources into building data centers to support its ambitious AI projects, with plans to invest $80 billion in fiscal 2025. While these changes aim to keep costs in check, Microsoft remains focused on driving innovation and supporting its global teams.

The company hasn’t yet commented on the reports, but these measures align with its efforts to balance operational efficiency and future-focused investments.

Read more on Thehindu.