At the heart of why consumers in China save so much and spend so little, and why Xi Jinping and Donald Trump will struggle to change that behavior even if they want to, lies the country’s stock market. Even after a recent rally, Chinese indexes have only just returned to levels seen in the aftermath…
Good morning. In honor of Perplexity’s unsolicited $34.5 billion bid to acquire Google’s Chrome web browser amid U.S. antitrust scrutiny—a figure well beyond the San Francisco AI startup’s $18 billion valuation!—five things I’d like to place an unsolicited bid on with someone else’s money: But please, Marc—keep the disco ball. Today’s tech news below. —Andrew…
Hong Kong Exchanges and Clearing’s (HKEX’s) latest listing rules on distributing shares in popular initial public offerings (IPOs) are expected to draw more institutional investors and family offices but curb retail participation, according to industry players. The rules, which came into effect on August 4, mandate that IPO candidates allocate at least 40 per cent…
Good morning. Did you know that ChatGPT will now remind you to take a break if you’re in a particularly long conversation with the chatbot? OpenAI says its goal “isn’t to hold your attention, but to help you use it well.” That makes all the sense in the world for a business model that involves…
Fifteen years ago, Dylan Field was a freshman computer science student at Brown University. On Thursday, the company he started in college and now runs, Figma, made its blockbuster debut on the New York Stock Exchange, marking the largest U.S. venture-capital-backed tech IPO in four years. Figma’s stock surged 250% on its debut, making it…
The first time Danny Rimer laid eyes on Dylan Field, Field was just 18 years old. Then, Field was an intern at the buzzy startup Flipboard. Field gave a presentation to the startup’s board, self-assuredly outlining his research about the features users loved and which ones flopped. Rimer, a partner at Index Ventures since 2002,…
Before the trading day starts we bring you a digest of the key news and events that are likely to move markets. Today we look at: Good morning, this is Ashutosh Joshi, an equities reporter in Mumbai. Nifty futures are flatlining, setting the tone for a cautious start to the week for Indian stocks. After…
Chinese AI startup Zhipu is considering shifting its planned initial public offering to Hong Kong instead of mainland China, according to people with knowledge of the matter, adding to a dealmaking boom in the city. Zhipu, whose backers include Alibaba Group Holding Ltd. and Tencent Holdings Ltd., is working with financial advisers on a potential…
Hong Kong’s stock market stamp duty income is filling the city’s financial coffers at the fastest pace since 2021, amid a bull run on the local bourse that has attracted scores of initial public offerings (IPOs) and fuelled frenzied trading. Duties from transactions and transfers rose to HK$29.69 billion (US$3.78 billion) in the first five…
Goldman Sachs Group Inc. claimed top ranking in Hong Kong equity sales for the first time since 2013, riding a wave of billion-dollar deals in the city after three years of lackluster activity. So far this year, Goldman is given credit for $5.6 billion in initial and secondary offerings, beating runner-up UBS Group AG by…