On Wednesday, according to data from Refinitive, Wise’s Class A shares are indicated to open at 750 pence in an auction, giving it a market capitalization of more than $9.66 billion (over 7 billion pounds). Ahead of its official London… Read More ›
Strategy
Chinese regulators step up supervision of listed firms abroad following Didi’s IPO scandal
Beijing is stepping up supervision of its companies listed abroad, said its cabinet in a statement. The development comes in the wake of China launching a cyber security investigation into Didi Global Inc just after its US IPO. In a… Read More ›
A $600 Million Truck-Charging JV For Europe Planned By Daimler, Volvo And Traton
Plans for formation of a joint venture that will develop an electric battery charging network that would be used for charging long haul trucks and buses were announced by three major European truck manufacturers – Daimler Trucks, AB Volvo and… Read More ›
Didi Warns Of Hit To Its Revenues Due To App Removal In China
Following an order from Chinese regulators, Didi Chuxing, China’s biggest ride-hailing company removed its app from its app stores and later issued a warning that this move will have an impact on the revenues of the company. The app was… Read More ›
US investors blindsided by inadequate disclosures by Chinese ride hailing firm’s US IPO
U.S. investors were shocked to hear an announcement by Chinese regulators of an investigation into Chinese ride-hailing firm Didi, which just two days ago made its US debut with a $4.4 billion IPO on the New York stock exchange. Although… Read More ›
Deutsche Bank launches foreign exchange indexes to track 21 currencies among emerging economies
In a statement Deutsche Bank said it has launched a new set of foreign exchange (FX) indexes to track 21 emerging market (EM) currencies, indicating a growing relevance and importance of developing markets in the global economy. “The set of four… Read More ›
All major economies agree to minimum corporate tax of 15%
Following two days of negotiations, most of the countries negotiating a global overhaul of cross-border taxes have backed plans for new rules which will see companies being taxed at a minimum of 15%. According to Organisation for Economic Cooperation and… Read More ›
Boeing names Brian West as CFO
In a statement Boeing Co said, it has tapped former General Electric executive Brian West as its chief financial officer. The development comes two months after the surprise retirement of finance chief Greg Smith. West is scheduled to take charge on August… Read More ›
Cyber security provider SentinelOne Inc valued at $11 billion on market debut
Shares of SentinelOne Inc, a security software provider, jumped by 21.4% in their U.S. stock market debut giving the company a market capitalization of around $11 billion. Shares of SentinelOne opened at $46 on Wednesday and closed at $42.5, above… Read More ›
South Korea’s exports extends double digit growth, trade surplus at $4.44 billion
Exports from South Korea have grown consistently across 4 quarters, posting a double digit growth in June, propelled by a strong economic recovery in major markets globally and continued strong demand for memory chips and automobiles. In June, South Korean… Read More ›
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