US stocks end sharply lower, Treasury yields spike on hawkish Fed outlook

US stocks end sharply lower, Treasury yields spike on hawkish Fed outlook

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 15, 2023. REUTERS/Brendan McDermid Acquire Licensing Rights Weekly jobless claims drop 9% FedEx gains on surprise profit beat Broadcom down on report Google to replace co as AI chip supplier NEW YORK, Sept 21 (Reuters) – Wall … Read more

Russia’s Detsky Mir completes transformation into a private business

Russia’s Detsky Mir completes transformation into a private business

A board, showing the logo of Russian children’s goods retailer Detsky Mir, is on display outside its store in Moscow, Russia, February 10, 2017. REUTERS/Maxim Shemetov Acquire Licensing Rights MOSCOW, Sept 20 (Reuters) – Russia’s largest children’s toy retailer Detsky Mir (DSKY.MM) said on Wednesday it had completed its transformation into a private business, ending … Read more

SoftBank’s Arm set for Nasdaq debut after biggest US IPO since 2021

SoftBank’s Arm set for Nasdaq debut after biggest US IPO since 2021

Sept 14 (Reuters) – SoftBank’s chip designer Arm Holdings (ARM.O) is set to debut on the Nasdaq on Thursday, in what could be the biggest test for initial public offerings (IPOs) in the United States after a listing drought that lasted for nearly 16 months. The company has secured a valuation of $54.5 billion after … Read more

For retail investors, jumping on Arm’s blockbuster IPO is a risky business

For retail investors, jumping on Arm’s blockbuster IPO is a risky business

Sept 11 (Reuters) – Retail traders getting their first bite at Arm Holdings’ highly anticipated public offering when the British chip designer begins trading this week should beware: individual investors often get burned when they jump on hot listings. Arm’s goal of raising around $5 billion in New York in what might be the biggest … Read more

Oracle sees revenue below estimates as cloud spending sputters

Oracle sees revenue below estimates as cloud spending sputters

A screen displays the logo and trading information for Oracle Corporation on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., March 30, 2023. REUTERS/Brendan McDermid Acquire Licensing Rights Sept 11 (Reuters) – Oracle (ORCL.N) projected current-quarter revenue below Wall Street targets on Monday and narrowly missed expectations for the … Read more

Big Tech’s core businesses face overhaul under EU tech rules

Big Tech’s core businesses face overhaul under EU tech rules

European Union flags fly outside the EU Commission headquarters in Brussels, Belgium September 19, 2019. REUTERS/Yves Herman/File Photo Acquire Licensing Rights Sept 6 (Reuters) – The European Union has picked out 22 so-called “gatekeeper” services, run by six of the biggest tech companies in the world, to face new rules as part of its latest … Read more

Exclusive: SoftBank in talks to buy Vision Fund’s 25% stake in Arm

Exclusive: SoftBank in talks to buy Vision Fund’s 25% stake in Arm

A smartphone with a displayed Arm Ltd logo is placed on a computer motherboard in this illustration taken March 6, 2023. REUTERS/Dado Ruvic/Illustration/File photo NEW YORK, Aug 13 (Reuters) – SoftBank Group Corp (9984.T) is in talks to acquire the 25% stake in Arm Ltd it does not directly own from Vision Fund 1 (VF1), … Read more

Factbox: SoftBank-owned Arm courts Big Tech interest in its IPO

Factbox: SoftBank-owned Arm courts Big Tech interest in its IPO

A smartphone with a displayed Arm Ltd logo is placed on a computer motherboard in this illustration taken March 6, 2023. REUTERS/Dado Ruvic/Illustration Aug 11 (Reuters) – SoftBank Group-owned chip designer Arm is getting investment interest from several major tech firms for what is expected to be one of this year’s biggest initial public offerings. … Read more

Japan’s struggling Rakuten to combine credit card and mobile payments business

Japan’s struggling Rakuten to combine credit card and mobile payments business

The logo of Rakuten is pictured at the headquarters of Rakuten in Tokyo, Japan, May 15, 2019. REUTERS/Sam Nussey TOKYO, Aug 10 (Reuters) – Japan’s Rakuten Group (4755.T) will fold its payments and points businesses into its credit card unit, it said on Thursday, a move that could set the struggling e-commerce company up to … Read more

Wall Street closes near flat as Treasury yields surge

Wall Street closes near flat as Treasury yields surge

(For a Reuters live blog on U.S., UK and European stock markets, click or type LIVE/ in a news window.) Amazon surges in extended trade after results Gloomy Spirit, Expedia results drag travel stocks lower PayPal drops after weak Q2 margins Qualcomm tumbles on signaling more pain from smartphone slump Aug 3 (Reuters) – U.S. … Read more