Stocks falter as virus outbreaks fan global recovery fears
Asian stocks were down early on Tuesday as growing fears the spreading Delta variant of the coronavirus would harm the global economic recovery sent riskier assets, including oil, skidding sharply.
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.
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.
Bill Ackman rejigs Universal deal after regulators probe SPAC plan
Billionaire investor Bill Ackman will buy up to 10% of Vivendi’s (VIV.PA) Universal Music Group through his main hedge fund, rather than a special purpose acquisition company, after investors and regulators questioned his use of a SPAC.
BlackRock profit beats as assets grow to a record $9.5 trillion
BlackRock Inc (BLK.N), the world’s largest asset manager, reported a better-than-expected quarterly profit on Wednesday as investors poured more money into the company’s funds, driving robust fee growth and boosting its assets under management to a record high.
AMC, GameStop shares fall to half of their June peaks
Shares of cinema operator AMC Entertainment (AMC.N) and video game retailer GameStop Corp (GME.N) fell sharply on Wednesday and were both trading below half their recent peak prices, testing the fortitude of the stocks’ retail shareholders.
S&P 500 ends higher after Fed Chair Powell lulls market
The S&P 500 ended with a gain after briefly hitting an intra-day record in a choppy session on Wednesday, as investors balanced worries about inflation with reassuring comments from Fed Chair Jerome Powell.
AIG to sell life and retirement unit stake to Blackstone, another with IPO
American International Group Inc (AIG.N)plans to use an IPO to sell part of its life and retirement business, while Blackstone Group Inc (BX.N)agreed to buy a sizeable stake, according to a person familiar with the matter.
Facebook and Instagram will invest over $1 bln in content creators
Facebook Inc (FB.O) will spend $1 billion on social media creators through the end of 2022 in a fight for top talent announced in a week when TikTok became the first rival mobile app to hit 3 billion global downloads.
EXCLUSIVE Wealth manager Americana Partners bid $25 a share for Westwood Holdings Group
Wealth manager Americana Partners has made a $25 a share bid for Westwood Holdings Group (WHG.N), offering a nearly 28% premium to take the publicly traded financial advisory and mutual fund firm private, sources familiar with the matter said.
