The US Justice Department’s criminal charges against Gautam Adani pose the biggest threat yet to the Asian tycoon’s $169 billion empire. More importantly, though, it’s also a missed opportunity for India’s opposition, an unexpected gift to President-elect Donald Trump, and an all-around embarrassment for Prime Minister Narendra Modi. Opposition leader Rahul Gandhi had made crony capitalism — especially Adani’s proximity to Modi — the central piece of his campaign, particularly in the Maharashtra poll, which is what makes the timing of these charges unfortunate for him. For Trump, though, the indictment couldn’t have come at a better time. His incoming administration will bargain with India for greater market access, especially for US tech firms, from a position of strength. Adani is the prime minister’s longtime friend, and neither Modi’s government nor the ruling party shied away when New York-based Hindenburg Research accused Asia’s second-richest man of “pulling the largest con in corporate history” in January last year. When tens of thousands of software engineers, tech enthusiasts and salesmen descended on San Francisco for the annual Salesforce megaconference in September, startup founder Jari Salomaa had an idea: What if he rented out a sauna? Salomaa was looking to pitch his startup Valo, which has built an artificial intelligence tool that helps users on Salesforce’s platform. But an anti-alcohol movement that’s sweeping through the tech industry is disrupting work gatherings that revolve around drinking or eating. That’s leading Salomaa and others to try “social saunas,” where networking happens inside a steamy 200-degree box. In bathing suits. In the end, Salomaa decided on a sort of social experiment: a coed gathering in San Francisco. He wound up with a waitlist of 100 guests. New social saunas have popped up in San Francisco, New York and Colorado this year, with stadium seating to fit more people and conversation is often encouraged. Bitcoin briefly surged past $99,000 Thursday, creating another price record as investors, big and small, can’t seem to get enough of the cryptocurrency. The largest cryptocurrency by market capitalisation has more than doubled in value this year, gaining over 130pc year-to-date, and is now within striking distance of the $100,000 mark, a level unthinkable a year ago when it traded close to $37,000. Donald Trump’s US presidential election win earlier this month and the promise of a more crypto-friendly administration has propelled bitcoin prices 46pc higher in a little over two weeks. Investors also cheered the departure announcement for US Securities and Exchange Commission Chair Gary Gensler. Mr Gensler faced criticism from the crypto industry for his enforcement approach. The $100,000 price milestone may not be too far away, but many experts say that bitcoin may not sustain a breach of that level for too long. Two of Elon Musk’s private companies are set to secure multibillion-dollar jumps in valuation through new deals, as investors race to back the sprawling business interests of the world’s richest man. SpaceX, the largest private company in the US, is preparing to launch a tender offer in December that will sell existing shares in the business at about $135 each, according to people with knowledge of the discussions. That would value the rocket builder at more than $250bn, up from about $210bn during a similar deal earlier this year. Meanwhile, Musk’s artificial intelligence startup xAI has raised $5bn at a valuation of $45bn, almost double its valuation a few months ago, according to the people. The fundraising has been carried out at breakneck speed as discussions between Musk and his investors began just last month.