Britain’s Financial Conduct Authority (FCA) has unveiled plans to encourage asset managers to “tokenise” funds on public blockchains such as Ethereum, aiming to engage a younger generation of investors. Key points: Simon Walls, FCA’s Executive Director of Markets, said:“Tokenisation has the potential to drive fundamental changes in asset management, with benefits for the industry and...
India’s Canara HSBC Life Insurance successfully closed its $283 million IPO, fully subscribed on the third day of bidding, led by strong demand from institutional investors. Key highlights: The offering was an offer for sale, with selling shareholders Canara Bank, HSBC Insurance (Asia-Pacific), and Punjab National Bank divesting their stakes. This IPO comes amid a...
Japanese mobile payments leader PayPay, backed by SoftBank, is preparing for a potential U.S. IPO as early as December, with investors projecting valuations exceeding 3 trillion yen ($20 billion). Key highlights: Market context: “Structural profit improvement is progressing, and future growth can be anticipated,” says SBI Securities analyst Yukari Housui.
JPMorgan reports that $26 billion of leveraged ETF selling contributed to Friday’s sharp U.S. stock market drop, triggered initially by Trump’s new tariff threats on China. Options dealers likely exacerbated the downside as they hedged their exposure. Key takeaways: “Customers selling volatility going into Friday came back to bite them,” said Steve Sosnick, Interactive Brokers...
StubHub (STUB) shares rose nearly 6% in early trading after multiple brokerages, including J.P. Morgan, BofA Global Research, Evercore ISI, and BMO, issued positive ratings following the end of the IPO quiet period. Key points: “We believe STUB shares, trading at a discount to peers, offer compelling risk/reward as we expect strong execution in core...
Salesforce (CRM) announced a $15 billion investment in San Francisco over the next five years, aimed at: CEO Marc Benioff said:“This $15 billion investment reflects our deep commitment to our hometown — advancing AI innovation, creating jobs and helping companies and our communities thrive.” The investment comes as Salesforce competes with Microsoft, Oracle, and ServiceNow...