Business News Today Live December 2, 2024: Shares in major Adani investor GQG plunge after analyst note on outflows

Business, Finance, Economy News Live Updates: Shares of Australian-listed GQG Partners tumbled 13 per cent% on Monday after UBS downgraded the stock and said the firm may have lost A$600 million ($390 million) in funds under management in the two days following the indictment of Adani Group executives. GQG is a major backer of Adani Group companies, whose founder Gautam Adani and seven other company associates have been indicted by US authorities on bribery charges. Adani Group says the allegations are baseless and has vowed to seek “all possible legal recourse”.