Adani Units in Talks with MUFG for $250 Million Offshore Loans
Two units of Adani Group are in advance talks to raise about $250 million from Mitsubishi UFJ Financial Group through separate bilateral offshore loans, according to people familiar with the matter.
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USA Today
4 hours ago
- USA Today
Top Trump aide accuses India of financing Russia's war in Ukraine
Stephen Miller on Fox News: Trump said, 'It is not acceptable for India to continue financing this war by purchasing the oil from Russia.' WASHINGTON – A top aide to President Donald Trump accused India of effectively financing Russia's war in Ukraine by purchasing oil from Moscow, after the U.S. leader escalated pressure on New Delhi to stop buying Russian oil, in a Fox News interview that aired on Aug. 3. More: President Trump announces 25% tariff on imports from India "What he (Trump) said very clearly is that it is not acceptable for India to continue financing this war by purchasing the oil from Russia," said Stephen Miller, deputy chief of staff at the White House and one of Trump's most influential aides. More: Russia does not care about Trump's 'theatrical ultimatum', senior official says Miller's criticism was among the strongest yet by the Trump administration about one of the United States' major partners in the Indo-Pacific. "People will be shocked to learn that India is basically tied with China in purchasing Russian oil. That's an astonishing fact," Miller said on Fox News' "Sunday Morning Futures." The Indian Embassy in Washington did not immediately respond to a request for comment. Indian government sources told Reuters on Aug. 2 that New Delhi will keep purchasing oil from Moscow despite U.S. threats. More: Trump says he ordered 2 nuclear subs to 'appropriate regions' after Russia nuclear threats A 25% tariff on Indian products went into effect on Aug. 1 as a result of its purchase of military equipment and energy from Russia. Trump has also threatened 100% tariffs on U.S. imports from countries that buy Russian oil unless Moscow reaches a major peace deal with Ukraine. Miller tempered his criticism by noting Trump's relationship with Indian Prime Minister Narendra Modi, which he described as "tremendous."
Miami Herald
6 hours ago
- Miami Herald
140-year-old college, forced to close after Chapter 7 bankruptcy
Bacone College, a 140-year-old Native-serving institution in Oklahoma, has been shut down and ordered into Chapter 7 liquidation after a judge cited mismanagement and financial collapse. The school had filed for Chapter 11 bankruptcy in 2024, but now faces total closure. Many colleges have a deep history and connection to their community, but Bacone's ran deeper than most. Bacone College, formerly the Indian University, "was founded in 1880 to educate Indian Students," according to its website. The school played a very important role in its early years. "At the height of Indian Removal the Muscogee (Creek) Nation donated land to eh American Baptist Church and namely the American Baptist Home Mission Societies (ABHMS) to establish Bacone College," it continued. Bacone Collegel gave a current mission statement on its website. "As a historic American Indian-serving institution, Bacone College provides a quality, holistic, liberal arts, educational experience for students in a culturally diverse environment, empowering life-long learners with the knowledge, skills, and capacity to be transformational leaders in both Native and non-native communities," it shared. Things began to fall apart for Bacone around a year ago. "On June 27, 2024, the Higher Learning Commission (HLC) acted to withdraw the accreditation of Bacone College in Muskogee, Oklahoma," the school shared on its website. Bacone College filed for Chapter 11 bankruptcy around when it lost its accreditation. The school has remained open for existing students, but has not been taking new admissions. U.S. bankruptcy trustee Ilene Lashinsky, filed a motion in June citing "gross mismanagement" including a disputed payment of approximately $16,500 on a loan in Acting President Leslie Hannah's name, alleging that the funds had been misused. In the filing,. Lashinsky asked for the Chapter 11 bankruptcy to be converted into a Chapter 7 bankruptcy filing. "The U.S. Trustee submits that the appropriate action in this instance is conversionto a Chapter 7 case. This case is stagnant and the Debtor's only hope is that an investor may come in and purchase the real estate assets of the Debtor. This is the best option for creditors to get paid. And a Chapter 7 trustee is fully capable of managing and negotiating that transaction on behalf of Debtor's estate," the filing read. In May, a federal judge agreed that the case be converted to a Chapter 7 case, citing "gross mismanagement' by college officials, one of whom the trustee alleged used the institution's bank account to pay his personal expenses. In late May, Bacone College was ordered to turn over access to the campus so it can be liquidated. All educational operations ended at that time. Bacone has been failing for some time: In fall 2023, Bacone had just 106 students, less than half the number of just five years earlier and a fraction of the 1,184 students the college enrolled in 2010, according to date from sought tribal college status, which would have made it eligible for additional federal funding. The Osage Nation and Cheyenne, Arapaho, Kiowa and Otoe-Missouria tribes agreed to charter it, but the college never won tribal college status from the federal government. June 2024: Bacone College in Muskogee, Oklahoma filed for Chapter 11 bankruptcy, seeking to reorganize and continue operations while addressing mounting debts June 2025: A U.S. bankruptcy trustee, Ilene Lashinsky, filed a motion citing "gross mismanagement"-including a disputed payment of approximately $16,500 on a loan in Acting President Leslie Hannah's name with allegations of misuse of college funds Mid‑May 2025: A federal judge granted the trustee's motion and converted the case from Chapter 11 (reorganization) to Chapter 7 (liquidation), triggering a managed wind‑down of the college's 21, 2025: Bacone College was ordered to turn over all keys and physical control of the campus immediately to the bankruptcy trustee-effectively ending any remaining institutional operations Related: Popular shoe brand files Chapter 7 bankruptcy, liquidating The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
New York Post
13 hours ago
- New York Post
India to maintain Russian oil import despite Trump threats, government sources say
India will keep purchasing oil from Russia despite President Trump's threats of penalties, two Indian government sources told Reuters on Saturday, not wishing to be identified due to the sensitivity of the matter. On top of a new 25% tariff on India's exports to the US, Trump indicated in a Truth Social post last month that India would face additional penalties for purchases of Russian arms and oil. On Friday, Trump told reporters he had heard that India would no longer be buying oil from Russia. 3 President Trump spoke with reporters before boarding Marine One on Friday. AP But the sources said there would be no immediate changes. 'These are long-term oil contracts,' one of the sources said. 'It is not so simple to just stop buying overnight.' Justifying India's oil purchases from Russia, a second source said India's imports of Russian grades had helped avoid a global surge in oil prices, which have remained subdued despite Western curbs on the Russian oil sector. Unlike Iranian and Venezuelan oil, Russian crude is not subject to direct sanctions, and India is buying it below the current price cap fixed by the European Union, the source said. The New York Times also quoted two unnamed senior Indian officials on Saturday as saying there had been no change in Indian government policy. Indian government authorities did not respond to Reuters' request for official comment on its oil purchasing intentions. 3 Russian President Vladimir Putin and India's Prime Minister Narendra Modi greeted each other at a meeting in New Delhi in Dec. 2021. AFP via Getty Images However, during a regular press briefing on Friday, foreign ministry spokesperson Randhir Jaiswal said India has a 'steady and time-tested partnership' with Russia. 'On our energy sourcing requirements … we look at what is there available in the markets, what is there on offer, and also what is the prevailing global situation or circumstances,' he said. The White House did not immediately respond to requests for comment. INDIA'S TOP SUPPLIER Trump, who has made ending Russia's war in Ukraine a priority of his administration since returning to office this year, has expressed growing impatience with Russian President Vladimir Putin in recent weeks. He has threatened 100% tariffs on US imports from countries that buy Russian oil unless Moscow reaches a major peace deal with Ukraine. 3 An oil pump jack outside of Almetyevsk,Russia on July 14, 2025. REUTERS Russia is the leading supplier to India, the world's third-largest oil importer and consumer, accounting for about 35% of its overall supplies. India imported about 1.75 million barrels per day of Russian oil from January to June this year, up 1% from a year ago, according to data provided to Reuters by sources. But while the Indian government may not be deterred by Trump's threats, sources told Reuters this week that Indian state refiners stopped buying Russian oil after July discounts narrowed to their lowest since 2022 – when sanctions were first imposed on Moscow – due to lower Russian exports and steady demand. Indian Oil Corp, Hindustan Petroleum Corp, Bharat Petroleum Corp and Mangalore Refinery Petrochemical Ltd have not sought Russian crude in the past week or so, four sources told Reuters. Nayara Energy – a refinery majority-owned by Russian entities, including oil major Rosneft, and major buyer of Russian oil – was recently sanctioned by the EU. Nayara's chief executive resigned following the sanctions, and three vessels laden with oil products from Nayara Energy have yet to discharge their cargoes, hindered by the new EU sanctions, Reuters reported last week.
