Klarna goes public as 3 in 4 Americans rely on buy-now, pay-later. Experts worry it's snowballing 'quickly into a serious financial burden'

Klarna goes public as 3 in 4 Americans rely on buy-now, pay-later. Experts worry it’s snowballing ‘quickly into a serious financial burden’

Swedish fintech firm Klarna just made its highly anticipated debut on the New York Stock Exchange, raising $1.37 billion and locking in a $15 billion valuation. But finance and legal experts are becoming wary of the growing risks associated with the ballooning buy-now, pay later (BNPL) industry.  Klarna, known for its short-term, interest-free financing solutions…

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HKEX’s first-half profit soars 39% to record HK$8.52 billion on IPO boom, trading volume

HKEX’s first-half profit soars 39% to record HK$8.52 billion on IPO boom, trading volume

Hong Kong Exchanges and Clearing (HKEX) set new records for second-quarter and first-half earnings amid a boom in initial public offerings (IPOs) and sizzling stock market turnover, according to a stock exchange filing on Wednesday. Second-quarter net profit for the operator of Asia’s third-largest stock market rose 41 per cent to HK$4.44 billion (US$569 million),…

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Hong Kong exchange’s confidential filing option lures tech listing hopefuls, law firm says

Hong Kong exchange’s confidential filing option lures tech listing hopefuls, law firm says

Nearly half of the biotech and technology start-ups seeking initial public offerings (IPOs) in Hong Kong are opting for confidential filings under a new listing channel that allows them to protect sensitive data, according to a lawyer with international law firm Cooley. Companies choosing confidential filings often have concerns about sensitive information being released to…

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Hong Kong exchange’s confidential filing option lures tech listing hopefuls, law firm says

Hong Kong exchange’s confidential filing option lures tech listing hopefuls, law firm says

Nearly half of the biotech and technology start-ups seeking initial public offerings (IPOs) in Hong Kong are opting for confidential filings under a new listing channel that allows them to protect sensitive data, according to a lawyer with international law firm Cooley. Companies choosing confidential filings often have concerns about sensitive information being released to…

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Tesla grants CEO Elon Musk $29 billion pay package

Fortune Tech: Perplexity’s Chrome bid, Apple’s Musk problem, Russia links to court hack, CoreWeave drops

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…

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Hong Kong IPO allocation rules shift focus to institutions, limit retail access

Hong Kong IPO allocation rules shift focus to institutions, limit retail access

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…

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Dylan Field, Figma’s 33-year-old cofounder, is a former LinkedIn intern who launched the $68 billion Wall Street darling with $100k from Peter Thiel

Dylan Field, Figma’s 33-year-old cofounder, is a former LinkedIn intern who launched the $68 billion Wall Street darling with $100k from Peter Thiel

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…

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