Tech leads way to Wall Street rebound as Powell promises steady hand
Wall Street rebounded Tuesday as Federal Reserve Chairman Jerome Powell vowed not to raise rates too quickly as the dollar and oil gave up earlier gains.
Krispy Kreme eyes near $4 bln valuation in U.S. IPO
Krispy Kreme Inc is targeting a valuation of nearly $4 billion in a U.S. initial public offering, according to a regulatory filing on Tuesday, as the donut chain aims a return to the stock market to capitalize on the record capital markets activity.
Alfi Inc shares more than double, other ‘meme stocks’ mixed
Shares of software firm Alfi Inc (ALF.O) finished up 108.8% on Tuesday, one of the latest companies that has seen its stock surge in a broader rally that has refocused attention on so-called meme stocks in recent weeks.
Amazon sees Prime Day sales boost amid supply chain snags
Amazon.com Inc’s (AMZN.O) Prime Day saw strong online sales growth in the United States on Monday even as supply chain snafus and a robust spending appetite limited the level of discounts on popular products like electronics.
Nasdaq ends at record high as Big Tech companies roar back
The Nasdaq ended at a record high on Tuesday, lifted by Amazon, Microsoft and other top-shelf tech companies as investors shifted their focus to growth stocks.
U.S. business borrowings jump 20% in May – ELFA survey
U.S. companies borrowed $8.1 billion for capital investments in May, 20% higher than last year, the Equipment Leasing and Finance Association (ELFA) said, as an economic recovery fueled by rising vaccinations and easing curbs drove up demand.
Egypt eyes surge in fintech investment after new laws
New legislation and regulatory changes in Egypt are set to unleash a surge in new fintech investments and change the way the country’s largely unbanked citizens do business, industry players say.
Extreme weather to push property insurance higher -Hippo CEO
Extreme weather events and shortage of labour and materials for repairs will push property insurance rates higher in the next several years, the chief executive of U.S. home insurer Hippo said on Tuesday.
EXCLUSIVE U.S. watchdog to adopt mortgage moratorium rule with some exclusions -sources
The U.S. consumer watchdog in coming weeks will adopt a rule requiring mortgage servicers to give struggling homeowners until next year to resume repayments, but is expected to carve out some groups of borrowers following industry pushback, four people with knowledge of the matter told Reuters.
Canada has seen jump in insider trading, misconduct since pandemic start- regulator
Securities misconduct in Canada has risen sharply as perpetrators attempted to capitalize on pandemic-driven uncertainties, while social media frenzy surrounding certain stocks and cryptocurrencies also opened the door to more wrongdoing, regulators said on Tuesday.
