Trading kicked off at $47 per share and shot up to $57.80, a 70% spike, during the day. The company and its shareholders raised an estimated $750m, with Reddit pocketing approximately $519m. Its current market cap sits at $9.5bn. The success of the IPO at this price appears to back up the company’s decision to…
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At the end of January 2024, the wealth fund reported a record 2023 profit of $213bn and a current value of $1.6tn. Based on a Reuters report, Svein Richard Brandtzæg, the chairperson of the Council of Ethics, said that due to the Gaza conflict, it must determine which organisations sell weapons used in the war…
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This move would see shareholders get 49 extra shares for every share held on 18 June. Their plan still needs approval from their shareholders, which will be sought at their next annual meeting which is due to be held on 6 June. The post-split CMG stock will be traded from 26 June onwards if approved.…
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Suleyman also co-founded DeepMind, the artificial intelligence (AI) outfit bought by Alphabet Inc’s Google (GOOG) in 2014. Industry experts believe that this move fortifies Microsoft’s reputation as an AI stalwart in big tech circles and forms part of CEO Satya Nadella’s drive to acquire top expertise. Suleyman will head Microsoft’s new consumer AI unit, while…
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The group said that one of its brands, Gucci, saw sales that are likely to drop by approximately 20%. Kering further indicated that it will release its Q1 2024 financials on 23 April 2024. Bloomberg reported that the group experienced its toughest day on the trading floor since March 2020, as it lost around €6.3bn…
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Since its inception in 2021, IC Your Trade has emerged as one of the globally renowned business vodcasts, garnering widespread sharing to help you make your next trade. ICYT boasts an impressive line-up of guests, featuring prominent figures like Bruce Lee, CEO of Keebeck Wealth Management, Former Adviser to the President of the United States,…
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Graham is set to bring a vast reservoir of compliance expertise and industry knowledge to the firm, which will be instrumental in enhancing ATFX’s regulatory frameworks and overseeing compliance matters within the Australian financial market. Graham comes to ATFX with an impressive professional background, having previously served in key compliance roles for notable financial companies.…
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Below, we look at the key factors impacting economic data this week. Wednesday: UK inflation rate at 7:00am GMT. The consensus is for a decline from 4% to 3.5% in February. If these forecasts hold true, it could mark the lowest yearly inflation figure for Britain and might lead to slight losses for the pound,…
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The company manufactures diverse consumer products, including globally well-known brands such as Ben & Jerry’s, Dove, and Horlicks. The company said that these moves form part of its Growth Action Plan and the initiation of a major productivity programme. It further indicated that the ice cream segment’s alternative operating model justifies the planned spin-off and…
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At the ring of the closing bell, the company's stock was up about 1% but slipped again by 0.42% in after-hours trading. Analysts believe waiting for more details about the chipmaker's new B200 Blackwell microprocessor contributed to these marginal stock movements. Over the past year, Nvidia's shares increased more than three times in value. Jensen…
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