Robinhood seeks up to $35 bln valuation in mega U.S. IPO
Robinhood Markets Inc is targeting a valuation of up to $35 billion in its initial public offering in the United States, the company revealed in a Monday filing, setting the stage for one of the most highly anticipated stock market listings this year.
U.S. recession ended in April 2020, making it shortest on record
The U.S. recession touched off by the coronavirus lasted only two months, ending with a low point reached in April 2020 after thestart of a sharp drop in economic activity in March of that year, the U.S. Business Cycle Dating Committee announced Monday.
IBM quarterly revenue beats on cloud strength, shares rise
IBM (IBM.N) reported second-quarter revenue on Monday that beat analysts’ estimates, as a recovery in client spending powered strong growth in its cloud and consulting businesses.
Biden says inflation temporary; Fed should do what it deems necessary for recovery
U.S. President Joe Biden on Monday said an increase in prices was expected to be temporary, but his administration understood that unchecked inflation over the longer term would pose a “real challenge” to the economy and would remain vigilant.
Tokyo bourse overhaul spurs prime market push for Japanese firms
Tighter requirements to stay on the Tokyo bourse’s prestigious main board are forcing Japanese companies to cease long criticised practices such as cash-hoarding and cross shareholdings, even as some investors call for tougher reform.
Papua New Guinea-focused Oil Search rebuffs $6.5 bln Santos bid
Oil Search (OSH.AX) rejected an unsolicited takeover proposal from Santos Ltd (STO.AX) valuing the Papua New Guinea-focused oil and gas producer at A$8.8 billion ($6.5 billion), but both companies said on Tuesday they wanted to pursue further talks.
Japan goes nuclear in bid to stay cool during Summer Olympics
Japan has rebooted extra power plants, including a long-dormant nuclear reactor, and taken other steps to avoid a power crisis as temperatures soar and demand for cooling surges, especially in Tokyo, where the Olympics begin on Friday.
Wall Street ends sharply lower as Delta variant sparks new lockdown fears
A surge in Delta variant infections sparked a broad sell-off on Wall Street on Monday as investors feared renewed COVID-19 shutdowns and a protracted economic recovery.
Oil piles on losses following OPEC+ deal to boost supply, rising COVID cases
Oil slumped $5 a barrel on Monday, closing out its worst day since March, after an OPEC+ agreement to boost output stoked fears of a surplus just as rising COVID-19 infections once again threaten demand.
Australia’s Afterpay to launch banking app in October
Afterpay Ltd (APT.AX) will launch its banking app in October to widen its offerings beyond buy now, pay later (BNPL) services for its 3.5 million-plus Australian users as competition intensifies, the company said on Tuesday.
