Crypto exchange Kraken has confidentially filed for a U.S. IPO, aiming to tap the newly active listings market ahead of the 2026 midterm elections, as digital asset firms race to go public under a crypto-friendly regulatory climate. The move follows Kraken’s latest fundraising, which valued the company at $20 billion — a 33% jump in...
Target reported a larger-than-expected 2.7% drop in comparable sales for Q3 and outlined a wide profit range for the holiday quarter as it cuts prices to attract cash-strapped U.S. consumers. Shares fell ~2%, extending a year-to-date decline of 35%. The results mark the first full quarter since incoming CEO Michael Fiddelke was appointed in August....
Short-selling partnership Gotham City Research and General Industrial Partners (GIP) disclosed a short position in Iron Mountain (IRM) on Wednesday, sending the REIT’s shares down 5% as of 15:55 GMT. According to founders Daniel Yu and Cyrus de Weck, Iron Mountain’s leveraged investments in data centers significantly exceed what the firm can sustainably fund with...
U.S. and Saudi officials showcased billions in new investments and deepening financial ties during the U.S.–Saudi Investment Forum in Washington, held alongside Crown Prince Mohammed bin Salman’s high-profile visit. CEOs from Chevron, Qualcomm, Cisco, Pfizer, General Dynamics, as well as senior leaders from Google, IBM, Salesforce, Adobe, Boeing, Aramco, Halliburton, State Street, and Andreessen Horowitz...
Elon Musk’s AI startup xAI is in advanced discussions to raise $15 billion in new equity at a $230 billion valuation, the Wall Street Journal reported. The terms were reportedly shared with investors by Musk’s wealth manager Jared Birchall, though it’s unclear if the figure is pre- or post-money. xAI, responding to Reuters, issued an...
Brazil’s central bank has halted operations of mid-sized lender Banco Master and placed it into extrajudicial liquidation after a “severe liquidity crisis,” sharp financial deterioration, and “serious rule violations.” Police simultaneously arrested controlling shareholder Daniel Vorcaro, freezing 12.2 billion reais ($2.28B) in a fraud probe. Master grew rapidly via high-yield debt, marketed as covered by...