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Wall Street snowballs as S&P 500 posts strongest intra-session rise since June
On Monday, all three key indices of Wall Street scored sharp gains across the board with S&P 500 notched its strongest one-day rise since June last year
Sourav D
Reporter
Sourav has been a finance enthusiast since early-teens who later became a dedicated author, editor and publisher for several publications, magazines and newspapers working in the field more than a decade despite being a doctor.
He graduated in medicine and surgery in 2015 and has currently been pursuing his passions on finances & economics alongside engaged with organizations to generate solid hits through web based technologies apart from working as a physician. '
South Korea’s Coupang files for mega US IPO at over $50bn valuation
Softbank-backed S. Korean e-commerce giant Coupang Inc. had filed for a US IPO on Monday with a targeted valuation range between $46 billion and $51 billion, paving ways to secure the largest US IPO this year
Issaquah retailer Costco lifts minimum wage above Amazon, Target to $16 per hour
Later last week, the membership-only American multinational retailer Costco had raised its minimum wages for hourly workers to $16/hour, a dollar more than rival Amazon, Target and Walmart
Chinese e-scooter maker Niu in talks to supply Indonesia’s Gojek in expansion bid
Later last week, Chinese e-scooter maker Niu CEO said in an interview that the company would be tapping into a fast-growing ride-hailing market in Southeast Asia
Most Gulf bourses end higher, but US report on Khashoggi murder drags Saudi down
Major Gulf bourses end mostly higher on Sunday, but Saudi's benchmark index faltered after US intelligence report had unveiled that the murder of Saudi journalist Jamal Khashoggi was approved by the Kingdom's Crown Prince Mohammed bin Salman
Dallas’ retailer GameStop rally cools off; still shares shelve 151% weekly gains
GameStop Corp. shares closed out Friday's market 6 per cent lower amid a broad-based tech sell-off wave, however, had secured a 151 per cent in weekly percentage gain
SoftBank reaches $500 million settlement deal with ex-WeWork CEO Adam Neumann
Later this week, SoftBank said in a statement that it had cut a settlement deal with the ex-WeWork CEO Adam Neumann, dissolving a 1-1/2-year long legal dispute
Chicago’s Insurance IT firm CCC Information to go public via $7bn SPAC deal
Insurance IT firm CCC Information said later this week that it was going public through a merger with a blank-check firm Dragoneer Growth Opportunities Corp
Californian Google, Facebook team up with Reliance on digital payment network bid
India's retail-to-telecom conglomerate Reliance teamed up with Google, Facebook and Infibeam in a bid to create a national digital payment network
Menlo Park's online brokerage Robinhood mulls confidential US IPO filing in March
Online brokerage Robinhood, which has been a centrepiece in a recent retail trading frenzy, mulls a confidential US IPO as early as next month
Biden scores first legislative win as US House passes $1.9 trillion stimulus bill
Late on Saturday, the US House of Representatives had voted 219 to 212 to pass a $1.9-trillion pandemic stimulus bill as proposed by the US President Joe Biden earlier in January
US new home sales jump 4.3% in January amid severe drought in existing home supplies
Later this week, US Commerce Department said in a statement that US new single-family home sales soared as much as 4.3 per cent in January amid a severe decline in existing home supplies
Virginia’s Leonardo DRS files for NYSE listing, to be completed by end-March
Italian defence conglomerate Leonardo said on Friday that the company had filed for a US IPO with US SEC for its DRS unit
US Consumer Spending picks up in January as recovery underway; inflation benign
US Commerce Department said on Friday that the US Consumer Spending surged to a seven-month peak in January
European shares break off three-week winning streak amid profit-taking
On Friday. a bundle of European bourses had wrapped up the session sharply lower with London's blue-chip index FTSE 100 leading the tally of losses
Wall St. ends sharply lower, but reports monthly gain as tech stocks rebound
On Friday, Dow and S&P 500 had closed out the session sharply lower, but tech-heavy Nasdaq had managed to end in a positive territory
US initial jobless claims fall to 3-month low in latest sign of tentative recovery
In latest sign of a gradual recovery in a near-stagnant US labour market, number of Americans filing for weekly initial jobless claims dropped to a three-month low last week
Jacksonville’s Sports retailer Fanatics enters China via JV with Hillhouse Capital
Frantics Inc., the world's No 1 online retailer of licensed sportswear, said on Thursday that it would expand into Chinese market through a JV with a private equity fund Hillhouse Capital Group
San Francisco’s Twitter sees revenue doubling by 2023, teases ‘Super follow’ feature
On Thursday, Twitter Inc. had laid out a plan that in effect would double up its annual revenues by 2023
Wall St. wilts as tech sell-off revives, 10-yr US bond yields rise to 12-month peak
On Thursday, Wall Street ends sharply lower with Nasdaq reporting its steepest intra-session plunge in more than four months
Gold slips more than 2 per cent as US Treasury yields leapfrog
On Thursday, the precious safe-haven gold futures faltered more than 2 per cent amid a rapid rise in US bond yields
Californian Coinbase files for Nasdaq listing, shows revenue surge amid bitcoin binge
Coinbase, the world's largest cryptocurrency exchange, had filed for a direct public listing on Nasdaq with US SEC (Securities and Exchange Commission) on Thursday
New York lender Goldman-backed ReNew agrees US public listing in $8bn SPAC merger
ReNew, the largest renewable energy firm in India, had agreed to a $8 billion merger with an SPAC backed by blank-cheque company titan Chamth Palihapitiya
Saudi Arabia’s PIF kickstarts $3 billion tourism infrastructure venture
Saudi Arabia's PIF or Public Investment Fund has launched a $3 billion tourism infrastructure venture in the Kingdom's Southwestern Asir region
Wall St. rallies as Fed’s Powell's remark solaces inflation frets
Key indices of Wall Street surged on Wednesday, roaring back after days of downfalls, as Fed's Powell's remarks had eased off inflation concerns
California’s Uber Eats, Just Eat, Deliveroo & Foodinho-Glovo fined €733mn in Milan
On Wednesday, Milan Prosecutors said in a briefing that the bloc's third-largest economy had fined Uber Eats, Just Eat, Deliveroo and Foodinho-Glovo €733 million for improper working condition
Houston’s Baker Hughes quit Nord Stream 2; Lawmakers say sanction won’t stop pipeline
Baker Hughes, AXA Group alongside 16 other energy industry giants had exited Russia's Nord Stream II gas pipeline project
Newark’s Lucid Motors’ $62bn valuation sparks bubble fret as Churchill Cap. shed 35%
On Tuesday. e-vehicle start-up Lucid Motors were valued at $62 billion following a merger with an SPAC Churchill Capital IV
US consumer confidence picks up in February as Fed’s Powell downplays inflation risk
The Conference Board Inc survey report published earlier on Tuesday had unveiled that US Consumer Confidence shot up in February
New York's Blackstone-backed Oatly files for US IPO, aims $5 billion valuation
Oatly, the Blackstone-backed Swedish baker of oat-based alternative dairy products, had submitted a proposal for a US IPO (Initial Public Offerings) on Tuesday