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    Bribery Charges Against Gautam Adani Strike at Heart of Modi’s India

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    The U.S. indictment names Gautam Adani, one of India’s richest businessmen, but it points to an even bigger target: how business is done there.Gautam Adani is no ordinary Indian billionaire. Over the past 10 years, he has become in effect an extension of India’s government. His conglomerate, Adani Group, builds and buys ports, factories and power plants, often under state contract or license. It operates airports. It even owns a TV news channel.Mr. Adani’s business empire has become central to India during the rise of Narendra Modi, first elected as prime minister in 2014.As Mr. Modi brought India to the center of the world stage, he brought Mr. Adani in tow. Today, Mr. Adani’s flagship company is worth about 10 times more than it was at the start of the Covid-19 pandemic.On Wednesday, the U.S. government charged Mr. Adani, one of the world’s richest people, with multiple counts of fraud. Federal prosecutors accused him and his associates of offering $265 million to Indian officials and lying about the bribery scheme to Wall Street investors when raising money for a massive renewable energy project.The Adani Group denied prosecutors’ claims, calling the allegations “baseless.” A spokesman said the company wanted to “assure our stakeholders, partners and employees that we are a law-abiding organization, fully compliant with all laws.”Solar panels being installed at a renewable energy park owned by the Adani Group in Khavda, India. Punit Paranjpe/Agence France-Presse — Getty Images

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    Source: FactSetBy The New York TimesWe are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      Will NYC Revive Congestion Pricing After Trump’s Victory?

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      Gov. Kathy Hochul, facing pressure from supporters of the contentious tolling plan, is said to be exploring options for adopting it in some form.Gov. Kathy Hochul of New York is exploring options for reviving a congestion pricing plan for New York City before President-elect Donald J. Trump has a chance to kill it, according to four people familiar with the matter.Ms. Hochul’s move to salvage the contentious plan comes as she faces pressure from various corners, including a group that represents transit riders and is planning to start an advertising blitz on Monday in support of the tolling program.The plan that Ms. Hochul, a Democrat, is now exploring differs slightly from the one she halted in June. She is trying to satisfy opponents who had complained about the $15 congestion-pricing toll that most motorists would have had to pay as well as supporters who want to reduce car traffic and fund mass transit improvements.The governor has talked to federal officials about the possibility of a $9 toll and about whether such a change might require the lengthy, involved process of additional environmental review, according to a Metropolitan Transportation Authority board member familiar with the matter. The discussions were first reported by Politico.Mr. Trump, a Republican, has said he opposes congestion pricing, and his victory on Tuesday has apparently pushed Ms. Hochul to try to find a compromise.“The timing is everything,” said Danny Pearlstein, a spokesman for Riders Alliance, the riders’ group that is planning the ad blitz. If congestion pricing has not started by January, he added “it’s very unlikely it would start.”We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      Dock Collapse in Georgia Strikes Sapelo Island Community Fighting for Its Culture

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      The deaths of seven people on Sapelo Island have brought to the fore longstanding frustrations among its Gullah Geechee community.The dozens of descendants of enslaved people who form the backbone of the Gullah Geechee community on Sapelo Island, off the coast of Georgia, have fought for years to protect their homes and traditions from the erosion of time and development.The deadly collapse on Saturday of a dockside gangway not only jolted the community into a deep grief but also brought to the fore longstanding frustrations over the treatment of residents and the state of the island’s infrastructure. Seven people were killed as they waited for a ferry back to the mainland after taking part in an annual cultural celebration on the island.“We are on Sapelo fighting for our survival,” said Reginald Hall, 59, who was among a group of residents who confronted officials during a weekend news conference to demand answers on the collapse of the dock.On Monday, state officials said they had removed the gangway as part of an investigation into its “catastrophic structural failure,” but they provided no new details on the cause of the collapse.Some residents questioned whether Georgia officials, who have responsibility for most of the island, had taken adequate precautions to prepare the dock for the influx of hundreds of visitors for the festivities. Officials said they had established additional ferry runs but did not rule out the possibility that the increased traffic contributed to the collapse.The collapse of the gangway set off a frenetic rescue effort.Lewis M. Levine/Associated PressWe are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      China Woos Africa, Casting Itself as Global South’s Defender

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      More than 50 African leaders have gathered in Beijing for a summit aimed at projecting the influence of China’s leader, Xi Jinping, in the developing world.African flags have been flown over Tiananmen Square. Leaders of African nations have been greeted by dancers, honor guards and children waving flags. They have been escorted in extensive motorcades past banners celebrating “A Shared Future for China and Africa” and giant, elaborate flower arrangements.China has pulled out all the stops for a gathering of leaders and top officials from more than 50 African nations this week in Beijing, welcoming them with pomp and pageantry. “After nearly 70 years of hard work, China-Africa relations are at the best period in history,” China’s leader, Xi Jinping, told the gathering on Thursday. Mr. Xi has cast his country as a defender of the developing world, one that can push the West to listen to the voices of poorer countries. He hosted a banquet for the leaders at the start of the event on Wednesday, after three straight days of back-to-back bilateral talks with nearly two dozen leaders of nations ranging from impoverished Chad to the continental economic powerhouse of Nigeria. The three-day forum is meant to demonstrate Beijing’s global clout despite rising tensions with the West. Mr. Xi’s courtship of African countries is part of a great geopolitical competition with the United States that has intensified in recent years over Russia’s war in Ukraine and China’s aggressive posture toward Taiwan.China is “trying to take advantage of the space left by the U.S. and Europe, which are increasingly disengaged with Africa,” said Eric Olander, the editor in chief of the China-Global South Project website. “China sees an opportunity to really step up its engagement, and not necessarily just with money.”We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      Climate Change Can Cause Bridges to ‘Fall Apart Like Tinkertoys,’ Experts Say

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      Extreme heat and flooding are accelerating the deterioration of bridges, engineers say, posting a quiet but growing threat.On a 95-degree day this summer, New York City’s Third Avenue Bridge, connecting the Bronx and Manhattan, got stuck in the open position for hours. As heat and flooding scorched and scoured the Midwest, a steel railroad bridge connecting Iowa with South Dakota collapsed under surging waters. In Lewiston, Maine, a bridge closed after the pavement buckled from fluctuating temperatures.America’s bridges, a quarter of which were built before 1960, were already in need of repair. But now, extreme heat and increased flooding linked to climate change are accelerating the disintegration of the nation’s bridges, engineers say, essentially causing them to age prematurely.The result is a quiet but growing threat to the safe movement of people and goods around the country, and another example of how climate change is reshaping daily life in ways Americans may not realize.“We have a bridge crisis that is specifically tied to extreme weather events,” said Paul Chinowsky, a professor of civil engineering at the University of Colorado Boulder who researches the effects of climate change on infrastructure. “These are not things that would happen under normal climate circumstances. These are not things that we’ve ever seen at this rate.”Bridges designed and built decades ago with materials not intended to withstand sharp temperature swings are now rapidly swelling and contracting, leaving them weakened.“It’s getting so hot that the pieces that hold the concrete and steel, those bridges can literally fall apart like Tinkertoys,” Dr. Chinowsky said.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      Dozens Dead or Missing After China Highway Collapse

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      It was the second such rain-related disaster in less than three months, as extreme weather challenges the country’s extensive network of newly built expressways.At least a dozen people were killed and many more remained missing on Saturday after part of a highway bridge collapsed Friday night amid heavy rain in western China. It was the second deadly episode in the country in less than three months involving the failure of a stretch of highway.State media reported early Saturday afternoon that 12 bodies and seven vehicles had been found, and that one person had been rescued. Eighteen vehicles and 31 people were still missing.A photograph released by the official Xinhua news agency on Saturday showed how a bridge in one direction of the highway had snapped. A section of it was folded downward, nearly perpendicular, into a churning, muddy river. A separate bridge that supported traffic in the other direction remained standing.The head of the Ministry of Emergency Management, Wang Xiangxi, went to the site Saturday morning and was overseeing a rescue effort that involved 869 people, 93 vehicles, 41 drones, 20 boats and a sonar system, according to the authorities.Both Xi Jinping, China’s top leader, and Premier Li Qiang, the country’s second-highest leader, ordered all-out rescue efforts.They had issued similar instructions after the previous disaster, which occurred on May 1 also amid heavy rain. At least 48 people died after a section of expressway running along the side of a hill in southeastern China gave way, apparently because a landslide began underneath it. Mr. Xi had ordered that local governments across China pay more attention to identifying and dealing with such risks.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      China’s Economy Slows Sharply as Housing Troubles Squeeze Spending

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      After a strong start to the year, spending has slumped as a real estate downturn weighs on consumers. Communist Party leaders are meeting this week to discuss what to do about it.Economic growth slumped in China through the spring after a strong start this year, according to data released on Monday, as a real estate crash caused consumers to spend more cautiously.The latest growth statistics for the world’s second-largest economy, covering April through June, put further pressure on the Communist Party as its leaders gathered on Monday in Beijing for a four-day conclave to set a course for the country’s economic future.In a country known for strict controls on the flow of information, the Chinese government is maintaining a particularly tight grip ahead of the party gathering, known as the Third Plenum, which typically takes place every five years. China’s statistical bureau canceled its usual news conference that accompanies the release of economic data and Chinese companies are mostly avoiding the release of earnings reports this week.China’s National Bureau of Statistics said that the economy grew 0.7 percent in the second quarter over the previous three months, a little below the expectations of most economists in the West. When projected out for the entire year, the data indicates that China’s economy grew during the spring at an annual rate of about 2.8 percent — a little less than half its growth rate in the first three months of this year.The statistical bureau also revised down its estimate of growth in the first quarter. That growth rate, projected out for the full year, was about 6.1 percent, not the 6.6 percent rate that was disclosed in April.Xi Jinping, China’s top leader, is trying to win confidence in his policies at home and abroad as growth falters and the property market suffers.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      Rush-Hour Delays Again Hit New Jersey Transit Commuters

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      A track inspection held up travelers for more than an hour, two weeks after a suspension of service stopped all Amtrak trains into New York’s Penn Station.Another round of delays at New York’s Pennsylvania Station on Wednesday night gave commuters flashbacks to the meltdown two weeks ago, when fallen electrical wires in New Jersey forced Amtrak to suspend train service on the entire Northeast Corridor between New York and Washington for most of the night.Wait times this time around were not as severe. Trains leaving Penn Station for New Jersey faced 45-minute delays starting at 5:16 p.m. because of an inspection of tracks owned by Amtrak in Secaucus, N.J., according to an Amtrak spokesman.Large crowds gathered inside the station after 6 p.m., as at least 10 New Jersey Transit trains were unable to depart on time. Only one Amtrak train was delayed by 33 minutes, said Jason Abrams, an Amtrak spokesman. The track inspection was complete by 6:25 p.m., Mr. Abrams said, and service began to return to normal.The delays are an “ongoing issue,” said Antonio Shaw, 33, who arrived at Penn Station at 5:45 p.m. for a train to Rahway, N.J. “It’s frustrating as a commuter,” he said.The Northeast Corridor is the busiest section of passenger rail track in the United States. The section between Newark, N.J., and New York includes some of the nation’s oldest train infrastructure, including rail yards in Kearny, N.J., and a pair of tunnels under the Hudson River, which were built to service the original Pennsylvania Station in New York, which opened in 1910.Parts of the line are failing. In 2014, Amtrak said it would be forced to close at least one of the tunnels by 2034 because of damage caused by age and chemicals left behind by floods from Hurricane Sandy in 2012.At least in part because of that aging infrastructure, commuters who rely the most on train lines using the Northeast Corridor face the most frequent delays. New Jersey Transit lines that don’t use the corridor, including the Main-Bergen and Pascack Valley Lines, arrive at their destinations on time more than 95 percent of the time, according to the agency.The New Jersey Transit line from New York to Trenton, N.J., follows the Northeast Corridor the entire way. It has the agency’s second-worst performance, with 86.6 percent of its trains arriving on time.At Penn Station on Wednesday evening, commuters said they were growing tired of trains running late.“It has been insane the past six weeks,” said Annika McTamaney, 23, a New Jersey resident who canceled a date on Wednesday because of the delays.Aimee Ortiz More

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      After Pipes Burst in Atlanta, Many Residents Lose Water, Then Patience

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      Major main breaks resulted in closed businesses, canceled events and angry residents who were upset over a lack of updates.A series of water main breaks in Atlanta caused widespread disruption on Saturday, as outages and severely reduced water pressure forced some businesses to close and infuriated residents who criticized city officials for failing to provide timely updates.Reports of interrupted service began on Friday after corroded water pipes burst near downtown; it was unclear exactly when the ruptures occurred. The disruptions continued into Saturday, with many people still experiencing very low water pressure. Residents across a swath of the city were under a boil-water notice, which advised them to use bottled water or boil tap water.Utility and city officials said on Saturday evening that the repairs had been completed at the site of the water main break that caused most of the disrupted service. They said that the “system is gradually being brought back online,” allowing for water pressure to increase. No contamination had been found in preliminary tests of the water, but the boil-water notice remained in effect, officials said.The outages forced businesses to close or limit their services, and some hospitals had to divert patients and cancel certain procedures. Events were canceled and rescheduled, including Megan Thee Stallion concerts that thousands were planning to attend on Friday and Saturday. Residents in many neighborhoods — as well as guests in downtown hotels — had to get by using bottled water or what little came dripping out of their faucets.Many seethed over a lack of information. As hours went by, officials provided little word about the status of restoring service.“This is absurd and Atlanta should be ashamed,” one resident wrote on Facebook in response to a post from the city government announcing the boil-water notice. “This is unsanitary and dangerous!”We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More