Ant Group, the financial technology arm of Chinese e-commerce giant Alibaba, plans to raise $34.5 billion when it lists its shares on the Hong Kong and Shanghai stock exchanges—that would make its initial public offering the largest in history. KEY FACTS - Shares in Hong Kong will be priced at $10.30, and shares in Shanghai will be priced at about $10.25. - The previous record holder…
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The first attempts to create a platform for carrying out trade operations between those wishing to exchange one product for another appeared about 700 years ago. Even then, it became apparent to some business people that there was a need to create a place to meet, communicate, and discuss trade and prices. However, the first exchange, as close as possible to today's understanding of such a market…
The announcement that President Donald Trump tested positive for coronavirus triggered a sell-off in early morning trading around the world on Friday that tapered off by day’s end. Tech stocks, however, failed to recover, as Wall Street investors prepare for increased volatility in the weeks leading up to the election. KEY FACTS - The tech-heavy Nasdaq ended the day down 251 points, or 2.2%,…
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The U.K. economy shrank almost a fifth in the first three months of lockdown, mostly dragged down by a 20% fall in April, laying out the cost of shutting down entire industries in a bid to curb the pandemic, new data from the U.K.’s statistics…
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While reports of positive data from potential coronavirus treatments have helped propel the market higher in recent months, investors are far too optimistic about a vaccine and stocks shouldn’t be rallying so much on each bit of news,…
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Shares in beleaguered airplane maker Boeing Co. and Texas-based Southwest Airlines soared Monday as investors responded to multiple media reports that Boeing has received the green light from the Federal Aviation Administration to begin test…
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Chinese officials recently expressed “strong dissatisfaction” with U.S. sanctions that came in response to a new national security bill on Hong Kong, warning that crossing “red lines” and meddling in what China considers…
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Analysts from Morgan Stanley on Tuesday warned that Tesla stock, at over $1,000 per share, is grossly overvalued and set to plunge, with too many investors ignoring the risks of running a car company and instead treating Tesla like a high-growth…
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Latest statistics from the U.K.’s Office of National Statistics show the true cost of a full month of lockdown measures which led to the closure of all non-essential businesses. KEY FACTS - “April’s fall in GDP is the biggest…
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The stock market finished lower on Tuesday—although the Nasdaq Composite rallied to a new record high—a day after the S&P 500 turned positive for 2020 and fully recouped its losses from the selloff caused by the coronavirus…
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Wall Street rallied on Friday after a better-than-expected jobs report revealed that the United States added 2.5 million jobs in May–the largest such increase on record. The S&P 500 and Dow Jones Industrial Index ended the day up…
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The market fell sharply for most of Friday as investors braced for President Trump’s announcement regarding China, but despite new sanctions and penalties, stocks turned positive after the phase one trade deal was kept intact. KEY FACTS…
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China’s powerhouse economy was the first to feel the squeeze as the coronavirus pandemic took hold earlier this year, and the damage is likely to last for years to come. As top Chinese lawmakers gathered at the National People’s…
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The cruise industry has been rocked by the coronavirus shutdowns, but Credit Suisse is making a bold bet that the stocks of two major players will surge over 50% and lead the industry’s eventual recovery. KEY FACTS - The firm initiated…
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The Senate, by unanimous consent on Wednesday, passed legislation that would ban many Chinese companies from listing shares on U.S. stock exchanges or raising money from American investors, as tensions between the world’s two largest…
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