Dow down

Adani group stocks Sustainalytics downgraded corporate governance-related scores for three of India's Adani Group companies on ethics concerns, the sustainability ratings company said on Wednesday, citing questions a short-seller raised last month. The lowered scores, including for Adani Green Energy and Adani Transmission, come after a Jan. 24 report from short-seller Hindenburg Research alleged accounting fraud and stock manipulation at the sprawling Indian conglomerate, hammering the shares of its listed companies and the wealth of founder Gautam Adani. Representatives for Sustainalytics, a unit of Morningstar Inc, said its clients received research this month elaborating on the downgrades. The changes flow to the overall risk rating tied to environmental, social and governance (ESG) matters assigned by Sustainalytics to Adani companies, which can influence whether sustainability-minded fund managers buy or hold the securities. The changes would not have a major … [Read more...] about Sustainalytics downgrades three Adani companies’ governance scores

Share to Twitter Share to Linkedin Topline: As the United States enters recession territory and investors say goodbye to an 11-year bull market, comparisons to the Great Depression—the worst economic downturn in American history—are inevitable, but how does that comparison actually stack up? Unemployment Peak unemployment during the Great Depression reached a staggering 24.9% in 1933, according to the Bureau of Labor Statistics ; in 1929, just four years prior, unemployment was just 3.2% . This past February, the unemployment rate was 3.5%, according to the Bureau of Labor Statistics (that number does not take into account the coronavirus-related layoffs that have ramped up in earnest this month). Unemployment hasn’t risen above 4% since February 2018. Federal Reserve Bank of St. Louis President James Bullard told Bloomberg that the U.S. unemployment rate could hit 30% next quarter while last week, Treasury … [Read more...] about The Great Depression Vs. Coronavirus Recession: 3 Metrics That Will Determine How Much Worse It Can Get