The Biden administration is considering a plan to shoot down a large Chinese balloon suspected of conducting surveillance on the U.S. military, by bringing it down once it is above the Atlantic Ocean where the remnants could potentially be recovered, according to four U.S. officials.

One of the officials, who spoke on the condition of anonymity to discuss the sensitive operation, said President Joe Biden had given the go-ahead. In a brief remark Saturday in response to a reporters question about the balloon, Biden said: Were going to take care of it.

The balloon was spotted Saturday morning over the Carolinas as it approached the Atlantic coast. In preparation for the operation, the Federal Aviation Administration temporarily closed airspace over the Carolina coastline, including the airports in Charleston and Myrtle Beach, South Carolina, and Wilmington, North Carolina, until at least 2:45 p.m. EST Saturday.

Biden had been inclined to down the balloon over land when he was first briefed on it on Tuesday, but Pentagon officials advised against it, warning that the potential risk to people on the ground outweighed the assessment of potential Chinese intelligence gains.

The public disclosure of the balloon this week prompted the cancellation of a visit by U.S. Secretary of State Antony Blinken to Beijing scheduled for Sunday for talks aimed at reducing U.S.-China tensions. The Chinese government on Saturday sought to play down the cancellation.

In actuality, the U.S. and China have never announced any visit, the U.S. making any such announcement is their own business, and we respect that, Chinas Ministry of Foreign Affairs said in a statement Saturday morning.

China has continued to claim that the balloon was merely a weather research airship that had been blown off course. The Pentagon rejected that out of hand as well as Chinas contention that it was not being used for surveillance and had only limited navigational ability.

The balloon was spotted over Montana, which is home to one of Americas three nuclear missile silo fields at Malmstrom Air Force Base.

Spy balloon

Meanwhile, people with binoculars and telephoto lenses tried to find the spy balloon in the sky as it headed southeastward over Kansas and Missouri at 60,000 feet (18,300 meters).

The Pentagon also acknowledged reports of a second balloon flying over Latin America. We now assess it is another Chinese surveillance balloon, Brig. Gen. Pat Ryder, Pentagon press secretary, said in a statement.

Chinas Ministry of Foreign Affairs did not immediately respond to a question about the second balloon.

Blinken, who had been due to depart Washington for Beijing late Friday, said he had told senior Chinese diplomat Wang Yi in a phone call that sending the balloon over the U.S. was an irresponsible act and that (Chinas) decision to take this action on the eve of my visit is detrimental to the substantive discussions that we were prepared to have.

Uncensored reactions on the Chinese internet mirrored the official government stance that the U.S. was hyping the situation.

Many users made jokes about the balloon. Some said that since the U.S. had put restrictions on the technology that China is able to buy to weaken the Chinese tech industry, they couldnt control the balloon.

Others called it the wandering balloon in a pun that refers to the newly released Chinese sci-fi film called The Wandering Earth 2. In a sign of censorship, the wandering balloon hashtag on Weibo was no longer searchable by Saturday evening.

Still others used it as a chance to poke fun at U.S. defenses, saying it couldnt even defend against a balloon, and nationalist influencers leapt to use the news to mock the U.S.

The U.S. is hyping this as a national security threat posed by China to the U.S. This type of military threat, in actuality, we havent done this. And compared with the U.S. military threat normally aimed at us, can you say its just little? Their surveillance planes, their submarines, their naval ships are all coming near our borders, Chinese military expert Chen Haoyang of the Taihe Institute said on Phoenix TV, one of the major national TV outlets.

China has denied any claims of spying and said it is a civilian-use balloon intended for meteorology research.

On Saturday, Chinas Ministry of Foreign Affairs again emphasized that the balloons journey was out of its control and urged the U.S. not to smear it based on the balloon.

Wang said China has always strictly followed international law, we do not accept any groundless speculation and hype. Faced with unexpected situations, both parties need to keep calm, communicate in a timely manner, avoid misjudgments and manage differences.

Alfred Wu, an associate professor at the National University of Singapore, said Chinas apology did not appear sincere.

In the meantime, the relationship will not improve in the near future the gap is huge.

___

Associated Press writer Huizhong Wu in Taipei and researcher Henry Hou in Beijing contributed to this report.

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The profit outlook for companies in the S&P 500 Index is rapidly deteriorating yet analysts cant raise their stock-price targets fast enough.

Consider it the stock-market disconnect of 2023.

The two seemingly incompatible trends reflect how much equity prices are being driven by speculation that the Federal Reserve is nearing the end of its most aggressive rate-hiking cycle in decades. That particularly bodes well for the valuations of growth and tech stocks, which have held on to this weeks big gains even after disappointing earnings reports from Apple Inc., Alphabet Inc. and Amazon.com Inc.

But the degree to which analysts are raising stock-price targets while slashing the earnings estimates is puzzling for those used to seeing the market hinge on the underlying strength of corporate America.

Interest rates have come down and your discount rate has come down, so even though your earnings arent going up, you could assign a higher price [on the stock] just because of the lower discount rate, said Crit Thomas, global market strategist at Touchstone Investments. Theyre saying, Hey, were going to be out of this within six to 12 months, so lets just look through it.

Fourth-quarter reporting season has done little to support optimism about the fundamentals. Earnings in sectors from energy to consumer discretionary have been coming in below pre-season estimates and companies are dialing back outlooks based on expectations growth will slow. In fact, Bloomberg Intelligences model shows that such earnings guidance for the first quarter has been cut by the most since at least 2010.

Thats forced analysts who stuck to rosier estimates to follow. Among all changes analysts made to their earnings projections last month, just 37% were upgrades, data compiled by Citigroup Inc. show. The level has been associated with the past three economic recessions and is 30% below a historical average.

To us, 2023 analyst numbers looked too aggressive, Drew Pettit, director of ETF analysis and strategy at Citigroup, said in an email. They are quickly getting revised down to better match the economic reality.

There remains considerable uncertainty about the direction of the economy, especially with Fridays rapid job growth numbers suggesting its still expanding at a solid pace. Overall, however, economists broadly expect growth to slow or even contract due to tighter financial conditions.

Were starting to see some of these companies come out and give less than ideal guidance on growth, said Brian Jankowski, senior investment analyst at Fort Pitt Capital Group. Were starting to see those business forecasts for growth line up better with GDP, which is predicted to be very little to flat.

That has largely been brushed aside in the stock market by speculation that interest rates are nearing their peaks of the cycle, a view that was supported by the Feds decision Wednesday to dial back the pace of its move. Sell-side analysts who cover the S&P 500 companies and already skew bullish have responded by raising their share-price estimates at the fastest pace since the spring of 2021.

The Feds central role in the outlook for equity prices was underscored by how well the market performed this week in the face of some negative earnings surprises from major companies.

Apple reported a steeper sales decline in its holiday period than Wall Street expected, while Ford Motor Co. posted a profit miss amid a continuing supply shortage. Google parent Alphabets results signaled a lower demand for its search advertising during a slowing economy.

Yet on Friday major stock indexes were little changed for much of the day before closing lower. Even so, the S&P 500 notched its second straight weekly gain.

Elsewhere in corporate earnings:

Asia:

Shares of HDFC rose after the Indian lender delivered an 18% growth in individual loans in the third quarter as lenders in India continue to benefit from the surging demand for credit. The company reported net income for the three months through December that met the average analyst estimate

Naver jumped after its revenue for e-commerce and content beat estimates despite overall fourth-quarter profit missing consensus

EMEA:

Intesa Sanpaolo shares dropped even after the Italian lender reported net income for the fourth quarter that beat the average analyst estimate. The banks outlook wasnt clear enough to excite the market, according to KBW

Sanofi fell after the French pharma giant reported fourth-quarter results that missed estimates, which analysts attributed mainly to weak sales for the vaccines unit. Guidance for 2023 EPS growth may also disappoint, and suggests downside to consensus estimates, Jefferies said

Americas:

Apple shares reversed course to rise as analysts noted that the companys services business remains an area of strength. The shares had fallen after the iPhone maker reported first-quarter revenue that missed expectations, hurt by macro headwinds and supply challenges

Ford shares tumbled after the automakers fourth-quarter profit missed estimates. The reaction among analysts was mostly negative, with some attributing the miss to company-specific issues. Meanwhile, Deutsche Bank cuts its recommendation on the stock to sell, seeing considerable operational shortfalls

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Inflation readings have, mercifully, been coming down, and investors are betting the Federal Reserve is getting close to the end of its rate-hiking cycle.

But any potential re-spiral higher in prices could complicate things significantly down the line, according to Morgan Stanley Investment Managements Jim Caron, who says hes been fretting over that possibility.

The risk that keeps me up at night is that we get this decline in inflation in the first half of the year, which we know is happening, but all of a sudden we realize in the second half of the year that its not anchored it comes down, but then all of a sudden it starts to show signs that it may start to bubble up in 2024 and beyond, he said on the What Goes Up podcast. 

Caron, co-chief investment officer of Global Balanced Funds at the asset manager, spoke before Fridays red-hot payrolls report rattled markets. Here are some highlights of the conversation, which have been condensed and lightly edited for clarity. Click here to listen to the full podcast on the Terminal, or subscribe below on Apple Podcasts, Spotify or wherever you listen.

Q: The question after the FOMC press conferences always is, did Powell not get out the message he intended? And should we expect some whiplash in the coming weeks?

A: One of the risks that I think that we have coming up over the next few weeks, is that if the intended market reaction doesnt match what the intended statement was supposed to convey, then as is typical, theres going to be some walking back of this. 

What Powell said in the statement was viewed as relatively hawkish. And then all of a sudden he starts his press conference, and he basically says the exact same thing that he said back in December. It was almost a carbon copy of the issues that labor markets remain tight, which is keeping inflation risks elevated. Second, despite the decline in CPI and wage inflation, its still too high to be consistent with inflation becoming anchored at target level. 

And then he starts to talk about service-sector inflation versus the goods-sector inflation. And he said, look, we know why inflations coming down durable goods, supply chains, all of these things are certainly coming down but service-sector inflation is not coming down as fast as they like. And then he said that service-sector inflation, if we look at it, core services ex-housing he said hasnt even started to fall. So this is a guy whos worried about inflation. This is somebody whos not done tightening by any stretch of the imagination. 

Then he went on even further to say, wouldnt it be a shame if just when we had inflation on the brink of being a solved problem, that we didnt tighten enough, and then all of a sudden it started to resurge later on? That would be really bad. And to me, that is my core risk. 

Aside from all the geopolitical potential risks, the risk that keeps me up at night is that we get this decline in inflation in the first half of the year, which we know is happening, but all of a sudden we realize in the second half of the year that its not anchored it comes down, but then all of a sudden it starts to show signs that it may start to bubble up in 2024 and beyond. And then they have to come back in and start hiking again from an already high base. 

The markets do not have this priced in. Everybodys talking about the pivot and the expectation for rates to come down it would be a significant surprise and really bad for asset prices if in fact that this all got turned on its head and all of a sudden the Fed said, No, we actually have to restart our hiking cycle. So this does not sound like a person that is ending their inflation-fighting plight. 

Q: So if thats a risk thats keeping you up at night, how do you categorize it?

A: So its a tail risk, but its a fat tail, meaning that it has a higher-than-ordinary probability for the event to occur. And I would even subjectively put that as high as 20%. So what creates that? Certainly energy prices could do that. We know that theres been not enough production relative to the demand. 

But to me, thats not the main issue here. The main issue is the labor market. The labor market is whats perplexing everybody. Most models really just havent worked in terms of trying to predict labor. Look, we got a JOLTS survey that came out and essentially showed 11 million job openings. The other is the vacancy-to-unemployment rate there are two jobs open for every unemployed person. 

So while consumer confidence is coming down because were hearing about layoffs in the tech sector and these big gargantuan numbers that are being thrown out there, the reality is that when we look at jobless claims, when we look at the unemployment rate, when we look at the BLS surveys and statistics, what were finding is that these people who are being laid off in the tech sector are finding jobs in other areas. Now, the nuance here is that the jobs that theyre finding are lower-paying. 

Now I want to be very clear about this because I think this is an important point to make for 2023 2023 is going to feel worse to Main Street and better to Wall Street. 2022 felt worse for Wall Street and better for Main Street. 

If we look at 2022, what we saw was inflation going to 40-year highs. But what we also had was job creation. People were employed, the jobs market was still very, very strong and hadnt started to weaken. So even though higher prices were coming into the economy, what people realized is that they had a job, they could pay the higher prices, they would still go out to eat at restaurants and spend time at hotels and go on airplanes and do all these various things. 

Now were coming to the end of this inflation cycle at least for now. Its starting to come down. Were coming to the end of this rate-hiking cycle, equities are responding positively, bonds are responding positively if you ask people on Wall Street, Hey, look, things are pretty good. If you ask people on Main Street, theyre saying the exact opposite thing. 

Click here to hear the rest of the episode.

With assistance from Stacey Wong.

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Results from 6-year-old Anastasia Weavers autopsy may take weeks. But online anti-vaccine activists needed only hours after her funeral this week to baselessly blame the COVID-19 vaccine.

A prolific Twitter account posted Anastasias name and smiling dance portrait in a tweet with a syringe emoji. A Facebook user messaged her mother, Jessica Day-Weaver, to call her a murderer for having her child vaccinated.

In reality, the Ohio kindergartner had experienced lifelong health problems since her premature birth, including epilepsy, asthma and frequent hospitalizations with respiratory viruses. The doctors havent given us any information other than it was due to all of her chronic conditions. There was never a thought that it could be from the vaccine, Day-Weaver said of her daughters death.

But those facts didnt matter online, where Anastasia was swiftly added to a growing list of hundreds of children, teens, athletes and celebrities whose unexpected deaths and injuries have been incorrectly blamed on COVID-19 shots. Using the hashtag #diedsuddenly, online conspiracy theorists have flooded social media with news reports, obituaries and GoFundMe pages in recent months, leaving grieving families to wrestle with the lies.

Theres the 37-year-old Brazilian television host who collapsed live on air because of a congenital heart problem. The 18-year-old unvaccinated bull rider who died from a rare disease. The 32-year-old actress who died from bacterial infection complications.

The use of died suddenly or a misspelled version of it has surged more than 740% in tweets about vaccines over the past two months compared with the two previous months, the media intelligence firm Zignal Labs found in an analysis conducted for The Associated Press. The phrases explosion began with the late November debut of an online documentary by the same name, giving power to what experts say is a new and damaging shorthand.

Its kind of in-group language, kind of a wink wink, nudge nudge, said Renee DiResta, technical research manager at the Stanford Internet Observatory. Theyre taking something that is a relatively routine way of describing something people do, in fact, die unexpectedly and then by assigning a hashtag to it, they aggregate all of these incidents in one place.

The campaign causes harm beyond just the internet, epidemiologist Dr. Katelyn Jetelina said.

The real danger is that it ultimately leads to real world actions such as not vaccinating, said Jetelina, who tracks and breaks down COVID data for her blog, Your Local Epidemiologist.

Rigorous study and real-world evidence from hundreds of millions of administered shots prove that COVID-19 vaccines are safe and effective. Deaths caused by vaccination are extremely rare and the risks associated with not getting vaccinated are far higher than the risks of vaccination. But that hasnt stopped conspiracy theorists from lobbing a variety of untrue accusations at the vaccines.

The Died Suddenly film features a montage of headlines found on Google to falsely suggest they prove that sudden deaths have never happened like this until now. The film has amassed more than 20 million views on an alternative video sharing website, and its companion Twitter account posts about more deaths and injuries daily.

An AP review of more than 100 tweets from the account in December and January found that claims about the cases being vaccine related were largely unsubstantiated and, in some cases, contradicted by public information. Some of the people featured died of genetic disorders, drug overdoses, flu complications or suicide. One died in a surfing accident.

The filmmakers did not respond to specific questions from the AP, but instead issued a statement that referenced a surge in sudden deaths and a PROVEN rate of excess deaths, without providing data.

The number of overall deaths in the U.S. has been higher than what would be expected since the start of the COVID-19 pandemic, in part because of the virus, overdoses and other causes. COVID-19 vaccines prevented nearly 2 million U.S. deaths in just their first year of use.

Some deaths exploited in the film predate the pandemic. California writer Dolores Cruz published an essay in 2022 about grieving for her son, who died in a car crash in 2017. Died Suddenly used a screenshot of the headline in the film, portraying his death as vaccine related.

Without my permission, someone has taken his story to show one side, and I dont appreciate that, Cruz said in an interview. His legacy and memory are being tarnished.

Others featured in the film survived but have been forced to watch clips of their medical emergencies misrepresented around the world. For Brazilian TV presenter Rafael Silva, who collapsed while reporting on air because of a congenital heart abnormality, online disinformation prompted a wave of harassment even before the Died Suddenly film used the footage.

I received messages saying that I should have died to serve as an example for other people who were still thinking about getting the vaccine, Silva said.

Many of the posts online cite no evidence except that the person who died had been vaccinated at some point in the past, using a common disinformation strategy known as post hoc fallacy, according to Jetelina.

People assume that one thing caused another merely because the first thing preceded the other, she said.

Some claims about those whove suffered heart issues also weaponize a kernel of truth that COVID-19 vaccines can cause rare heart inflammation issues, myocarditis or pericarditis, especially in young men. Medical experts say these cases are typically mild and the benefits of immunization far outweigh the risks.

The narrative also has leveraged high-profile moments like the collapse of Buffalo Bills safety Damar Hamlin as he suffered cardiac arrest during a game last month after a fierce blow to his chest. But sudden cardiac arrest has long been a prominent cause of death in the U.S. and medical experts agree the vaccine didnt cause Hamlins injury.

For some families, the misinformation represents a sideshow to their real focus: understanding why their loved ones died and preventing similar tragedies.

Clint Ericksons son, Tyler, died in September just before his 18th birthday while golfing near their home in Florida. The family knows his heart stopped but still doesnt know exactly why. Tyler wasnt vaccinated, but his story appeared in the Died Suddenly film nonetheless.

It bothers me, him being used in that way, Erickson said. But the biggest personal issue I have is trying to find an answer or a closure to what caused this.

Day-Weaver said it was upsetting to see people exploiting her daughters death when they knew nothing about her. They didnt know that she loved people so much she would hug strangers at Walmart, or that she had just learned how to snap.

Still, Day-Weaver said, I wouldnt wish the loss of a child on anybody. Even them.

___

Natália Scarabotto in Río de Janeiro contributed to this report.

Much like the Beatles, millennials get by with a little help from their friends. That is, if theyre friends with their parents. 

Thirty-five percent of millennials say their parents pay at least one of their monthly bills, according to a survey OnePoll conducted for Chartway Credit Union of 2,000 Americans between December and January. Housing is one of the larger expenses handed off: Almost one-quarter of millennials said their parents cover their rent.

No surprise there. Rent reached a record high in major cities, which typically attract young professionals, over the summer. While rents have slowly started to decline, theyre still more expensive than they were a year ago. The number of people renting apartments has reached the highest level in half a centuryeven millionaire millennials are renting (although some just prefer to direct their cash elsewhere). 

Millennials also reported that their parents cover the costs for groceries, utility bills, auto insurance, car payments, and streaming services. Perhaps some of these parents are holding onto the financial reigns too longbut the situation is also indicative of the short end of the economic stick millennials have long been dealing with. 

They graduated into the Great Recession and its aftermath only to be hit by a pandemic when they were finally gaining financial ground and accelerating their careersall while saddled with massive student debt. An increasing cost of living has already prompted millennials to delay life milestones like starting a family or buying a home, and facing 40-year high inflation for the first time in their lives hasnt helped. 

For their mostly baby boomer parents, homeownership and wealth building was a different story. The American Dream was a more affordable deal for the older generation, who built greater fortunes and achieved financial independence at an earlier age than their children. Research finds the average wealth gap between those 60 and older and 40 and younger has almost doubled since the 1960s and 1970s. While boomers have had more time to accumulate wealth, the wealth of those ages 20 to 39 has declined.

Its almost like we dont want millennials to get a piece of the American Dream, André Perry, a senior fellow at the Brookings Institution, told Fortune.

Receiving parental financial assistanceor even living at home, as many millennials still do, can help the generation save and get their finances in order. 

Many of the millennials polled seem to want to take on their own bills, or at least 72% plan to within the next two years. Thirty-one percent say that staying on some of their parents monthly plans helps them try to save. But 30% admit theyll take all the financial assistance they can get until their parents cut them off. 

Personal finance guru Dave Ramsey has said that Momma cant protect young adults living at home but she might just have a bit more money in her purse to help her children who are struggling to afford even renting a home.

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A beaming Gautam Adani stood beside Israeli Prime Minister Benjamin Netanyahu on Tuesday, looking relaxed as hundreds of people gathered for the ceremonial signing at the Haifa Port, which the Indian billionaire is co-developing. 

The 60-year-old tycoon had reason to be buoyant: last-minute bids had helped the flagship of his ports-to-power empire close a record $2.5 billion share sale despite a searing short seller attack that triggered a stock rout. As he headed home from Tel Aviv at 6:13 p.m. local time in his Bombardier Global 6500 private jet   a relatively-new acquisition with super-speedy wireless connectivity the industrialist spent a lot of time in the quietest part of the flight cabin on marathon calls.

But the brutal sell off in Adani Group stocks continued on Wednesday, Feb. 1, wiping out market value of more than $80 billion in a week despite the supposed successful conclusion to the share sale.  

Anxious investors started calling Adanis finance team to express concerns, according to people familiar with the events who did not want to be named as the discussions were private.

Headwinds Building

One of them was the Royal Group, the parent company of Abu Dhabis International Holding Co., which nudged the conglomerate to reconsider Adani Enterprises Ltd.s share sale, one of the people said. 

By Wednesday afternoon, a state-run financial institution also one of the anchor investors in the follow-on offer said it wont support the group further. Earlier in the day, opposition parties had heckled the Narendra Modi government in parliament, chanting Adani, Adani during the union budget speech. The tycoon often tailors his corporate strategy to Modis nation-building priorities.

Sometime around 5 p.m. in India on Wednesday, Adani asked for an emergency board meeting to be convened in 30 minutes. The share sale was being scrapped. At 10:21 p.m. in India, the filing had hit local stock exchanges, marking a dramatic U-turn. 

In barely 19 hours, Indias biggest ever follow-on share sale had gone from being a done deal to a dud. 

Representatives for Royal Group, IHC and Adani Group didnt immediately respond to written requests for comment outside of office hours.`

Protecting Relationships

Adani chose to forgo the short-term victory of nailing the follow-on offer to protect his longer-term relationships with marquee investors who otherwise were staring at some embarrassing mark-to-market losses on the sums they had committed. 

And in that one fell swoop, the US-based short seller Hindenburg Research, which had published a scathing report on Jan. 24, claimed its biggest casualty yet. 

In its explosive broadside, Hindenburg had accused Adanis conglomerate of brazen fraud and years of stock market manipulation, money laundering, as well as other alleged crimes that it labeled as the largest con in corporate history. 

Adani Group hit back saying the report was bogus, maliciously mischievous and threatened legal action.

In its 413-page Sunday rebuttal, it called Hindenburgs report and its short bet a calculated securities fraud as well as an attack on India and its institutions.

Three days later, its share sale had unraveled amid the fracas.

Dejected Attendees

One dejected attendee of Adanis emergency Wednesday meeting said all it took was an attack from a small short seller to destroy years of hard work in just a week.

A veteran dealmaker aiding the share-sale process said he had never seen an equity offering canceled in this fashion over a nearly two-decade career. 

But the sense of relief among major investors was palpable. State-run Life Insurance Corporation of India Ltd., which is a shareholder in five Adani Group companies, deemed the decision a gesture of good corporate governance, according to people familiar.

Thats how Adani sold it, too. Addressing investors in a video early Thursday to explain the abrupt volte-face, he said: For me, the interest of my investors is paramount and everything is secondary. 

He added that he wanted to insulate them from losses. Despite the volatility in the stock over the last week, your faith and belief in the company, its business and its management has been extremely reassuring and humbling, for all of us.

The selloff, however, continued. By Friday, half of the value of the conglomerate, or more than $110 billion, had evaporated since the Hindenburg reports release. Adani Enterprises shelved a plan to raise as much as 10 billion rupees via its first-ever public sale of bonds following a market rout, Bloomberg News reported on Saturday, citing people familiar with the matter.

The impact on Indias broader market was also huge. As of Thursday, the rupee had fallen against all its Asian peers over the period, while the spreads on an index of bonds in the nation expanded to the widest level in four weeks.

Distancing Itself

The ripple effects prompted Modis government perceived to have close ties with Adani to begin publicly addressing and distancing itself from the scandal-hit conglomerate. Although Adanis interests from ports to energy are inextricably intertwined with the nations growth plans, government officials talked down its impact on the wider economy.

It is between one private company, and the regulator and the market; It doesnt concern the macroeconomy, T. V. Somanathan, the nations finance secretary, said in an interview Thursday. The exposure of banks, LIC to Adani is not worrying at all. I dont see any contagion risk on this.

The arrangers of Adani enterprises scrapped equity offering have had to reconcile themselves to minuscule fees and are scrambling to recover what they can from what was supposed to be a mega follow-on share sale. The bulk of the $12 million that investment banks were set to earn was contingent on the success of the deal, people with knowledge of the matter said. Theyre now expecting only minimal compensation for their work on the offering.

As the turbulent week drew to a close, the embattled tycoon entered talks with creditors to prepay some loans backed by pledged shares, as some banks stopped accepting the securities of the group as collateral. 

The dust is not yet settled, Alok Churiwala, managing director of Mumbai-based Churiwala Securities Pvt., said on Thursday. One has to be very watchful and investors would be well advised not to tinker with Adani stocks till there is clarity on the way forward.

With assistance from Ashutosh Joshi, Alisa Odenheimer, Baiju Kalesh, Archana Narayanan, Anto Antony, Ragini Saxena, Vidya Root and Subhadip Sircar.

With all the hype about reverse aging comes the question: What kind of lifestyle does it takes to beat the odds and live a very long life?

Forty-five-year-old Bryan Johnsons $2-million-a-year attempt to reverse aging has left longevity experts both fascinated and highly skepticallargely due to the fact that genetics and pure luck, which factor heavily into how long you live, are far out of our control.

You just cant exercise your way to living to 100, let alone to the world-record-breaking 122 or something like that, Dr. Andrew Steele, longevity scientist and author of Ageless: The New Science of Getting Older Without Getting Old, told Fortune. No amount of diet or exercise is gonna get you that magical combination of genes.

Dan Buettner, longevity expert and founder of Blue Zones LLC, which studies places around the world where people live the longest, tells Fortune that Johnson is a walking experiment and worth paying attention to. But it will take notable results a decade from now to really cause intrigue, he says. 

I applaud anybody whos tried to use science to live longereventually, theres going to be an intervention thats going to represent a big leap in life expectancy, he says. I dont think its here yet. 

Most important, Buettner says, is that anything worth making a difference must be adhered to over a long time, and Johnsons routine seems unsustainable. 

Most of what he does requires such heroic discipline and presence of mind that fewer than 2% of Americans have the follow through on that, and I feel Ive questioned even if he does, Buettner says. His regimen is so time-consuming and so difficult.

In Buettners research, its been made undeniably clear that socialization and purpose ground the people who live the longest. 

Purpose andsocial connectivity are accessible to all of us, he says.

Living longer also means enjoying how you get there. 

The same things that will get us to age 100 are things that make the journey enjoyable, Buettner says. 

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