Video game software developer Unity priced its IPO above the expected range on Thursday in an offering that initially values the company at $13.7 billion, CNBC has confirmed. Unity sold shares at $52 apiece, after lifting the range on Wednesday to between $44 and $48. Reuters was first to report on the pricing. A Unity […]
For the past decade or so, the Federal Reserve has been quite effective in helping to create inflation, just not the kind that it normally targets. The Fed’s perpetually easy monetary policy, consisting of historically low short-term interest rates and trillions of dollars in bond buying, has coincided with a huge swell in asset prices, […]
Amazon.com Inc. plans to open 1,000 small delivery hubs in cities and suburbs all over the U.S., according to people familiar with the plans. The facilities, which will eventually number about 1,500, will bring products closer to customers, making shopping online about as fast as a quick run to the store. It will also help […]
Oil prices rose further on Wednesday, with WTI breaking $40 per barrel as Hurricane Sally continues to wreak havoc in the Gulf of Mexico. More than 27% of all offshore oil and gas production in the GoM remained shut as of Wednesday. Combined with the crude oil stock draw reported by the Energy Information Administration, […]
A year from now the United States may have emerged from the economic hole dug during the pandemic with growth smartly above its previous trend and output largely recovered. Or it may be struggling to patch a remaining $2 trillion gash to gross domestic product, with growth stuck in low gear, an ongoing health crisis, […]
Six years after the ECB cut interest rates below 0%, behavioural finance gurus have a message for other central banks thinking about taking the plunge: don’t. Rates in the United States, Britain, Norway, Australia, New Zealand, Israel and Canada are at or below 0.25%, so chances are one or more of their central banks will […]
September’s early volatility may be no match for what comes after the presidential election. Wells Fargo Securities’ Michael Schumacher notes volatility is set to jump following the results — not recede. “Normally, you might think that it’s Election Day or Election Day plus one that is super volatile,” the firm’s head of macro strategy told […]
Fans of chicken nuggets can cuddle up with a McDonald’s Chicken McNugget body pillow. The 3-foot long pillow looks just like the real deal and costs a whopping $90 from rapper Travis Scott’s online shop. Earlier this month, McDonald’s announced it was partnering with the Billboard Music Award winner on a unique “capsule merch collection.” […]
Snowflake Inc. produced a hot start to the busiest week for initial public offerings in more than a year. Snowflake SNOW, -0.67% priced its IPO at $120 a share Tuesday night, which means it will raise at least $3.86 billion in the offering, and likely more than $4 billion. The company will sell 28 million […]
Oracle plans take an ownership stake in a newly formed TikTok corporation as part of the recently announced deal, the Financial Times reports. The new arrangement will not cleave off TikTok regionally, but it will create a separate corporate entity for the app, in which Oracle will take a minority stake. Oracle will also ensure […]
The Hobby Lobby chain of stores announced Monday plans to raise its minimum wage for full-time hourly employees starting next month. The chain announce the new full-time hourly wage will be set at $17 per hour starting Oct. 1. The new rate is more than double the federal minimum wage of $7.25 per hour. “We […]
Citigroup (NYSE:C) is apparently facing disciplinary action from federal regulators. An article published Monday in The Wall Street Journal, citing “people familiar with the matter,” reported that the Office of the Comptroller of the Currency and the Federal Reserve plan to formally reprimand the bank for its risk-management systems and procedures. Such a rebuke might […]
