India's Securities and Exchange Board (SEBI) has fined Anil Ambani $3 million for not disclosing the sale of 1.25 billion Reliance Power shares in 2008. The decision highlights SEBI's commitment to transparency and fair practices in India's markets. Additionally, Ambani is barred from market access for five years.
The Dow Jones Industrial Average dropped by 0.4% while the S&P 500 saw a modest increase of 0.1% and the Nasdaq surged 0.5%. Nvidia stock staged a recovery after a significant dip, and Tesla's Cybertruck faced recalls amid increasing electric vehicle insurance registrations in China. Novo Nordisk's advancements in both weight-loss and diabetes treatments also fueled stock market movements.
Multichoice Nigeria has been fined N150 million by a Nigerian competition tribunal for contesting judicial authority and for violating pricing orders. The tribunal ordered the company to provide one month of free DStv and GOtv subscriptions to all Nigerians, following a controversial price increase announcement.
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