Business

Robinhood closes at $34.82 in grim stock market debut

Robinhood Markets Inc’s shares (HOOD.O) closed more than 8% lower at $34.82 per share on their first day of trading, as many investors who used the popular trading app to participate in this year’s “meme” stock trading frenzy snubbed its initial public offering (IPO) Only 16 of the 99 U.S.-listed companies that were worth at […]

Business

Amazon sales growth slows in tame start to Jassy’s tenure as CEO

Amazon.com Inc (AMZN.O) on Thursday said sales growth would slow in the next few quarters as customers venture more outside the home, a tepid start to CEO Andy Jassy’s reign after 27 years with Jeff Bezos at the retailer’s helm. Spending growth by Prime members, Amazon.com’s most valuable customers, has eased as well, the company […]

Business

Canadian Pacific asks Kansas City shareholders to reject Canadian National deal

Canadian Pacific Railway Ltd (CP.TO) on Thursday asked Kansas City Southern (KSU.N) shareholders to vote against a deal with Canadian National Railway Co at a meeting next month. Kansas City shareholders should reject Canadian National’s $33.6 billion bid as there are regulatory risks involved, Canadian Pacific said in a regulatory filing, adding that the proposed […]

Business

EXCLUSIVE BOJ policymaker sees prospects of deeper debate on price goal this year

The Bank of Japan may see conditions fall in place to begin debating a new strategy for hitting its price target around the end of this year, as the economy shakes off the blues from the COVID-19 pandemic, its board member Asahi Noguchi said. Even so, the central bank can hold off on expanding stimulus […]

Business

Less social media, more socializing hits Pinterest as U.S. user growth slows

Pinterest Inc (PINS.N) on Thursday said user growth in the United States was decelerating as people who used the platform for crafts and DIY projects during the height of the pandemic are stepping out more as curbs ease. Shares of the digital pinboard site slumped nearly 20% in extended trade, with investors looking past Pinterest […]

Business

Canada’s spectrum auction raises record $7.2 bln as firms gear for high-speed internet

Canada’s auction of 3500 MHz spectrum, which is key for next generation 5G networks, generated a record C$8.9 billion ($7.2 billion), with the country’s three dominant telecom companies accounting for more than 80% of the amount raised. Out of 1,504 available licenses, 1,495 were awarded to 15 Canadian companies, including 757 licenses to small and […]

Business

Microsoft looks to tap into India’s Oyo before its potential IPO

Microsoft Corp (MSFT.O) is in advanced talks to invest in Indian hotel chain Oyo at a $9 billion valuation, a source familiar with the matter said on Thursday. The deal could be announced in the coming weeks and would be a prelude to an initial public offering (IPO) by Oyo, the source said. Founder and […]