Author: News Room

SoftBank chief Masayoshi Son will this week sign off on an agreement with Nasdaq to list chip designer Arm, setting in motion a blockbuster initial public offering as early as this autumn.According to two people familiar with the situation, the Japanese investment group and New York exchange reached a tentative agreement over Arm’s proposed listing on Monday, with Son expected to sign off officially later this week.The move represents the first formal step in the IPO process, as SoftBank continues to work towards submitting filing documents for Arm. That would end speculation over Son’s plans for the Cambridge-based company after…

Author’s Note: All figures in Canadian currency unless otherwise noted. Investment Overview 2022 marked the second worst year on record for the Canadian REIT sector with a 17% loss across the index. There are a few quality names that have been caught up in this slide. With units down almost 50% over the past 12 months, Allied Properties Real Estate Investment Trust (TSX:AP.UN:CA) is trading well below the REIT’s NAV of $38. This valuation has been hampered by high Debt/EBITDA levels. Allied Properties is poised for a significant deleveraging following the planned sale of its data center holdings. It addition…

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Disclaimer: The Industry Talk section features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com.Potomac Falls, United States, April 11th, 2023, ChainwireAsh Environmental DAO has announced the dates of its token sale. The event will run from April 17 to May 7, giving participants the chance to purchase the Ash token and become part of a global ecosystem committed to funding high-impact innovations to address real-world challenges.The Ash Environmental DAO is a solution platform that seeks to address global challenges such as access to financing for environmentally-friendly innovations, environmental degradation, job losses, diminishing…

Former senior executives of Twitter have sued the company in an attempt to recover more than $1 million in legal expenses incurred by responding to shareholder lawsuits, federal investigations and a congressional hearing, according to a complaint filed Monday in Delaware Chancery Court. The lawsuit by former Twitter CEO Parag Agrawal, former chief legal officer Vijaya Gadde and former chief financial officer Ned Segal alleges that Twitter has failed to reimburse them for lawyers’ fees in accordance with prior agreements with the company. Elon Musk fired the executives immediately after completing his acquisition of the company. Twitter, which cut much…

Check out the companies making headlines before the bell Tuesday.CarMax — Shares of the vehicle retailer soared 7% on the back of better-than-expected quarterly earnings. CarMax earned 44 cents per share, beating a Refinitiv forecast of 24 cents per share.Newmont — The stock lost 2.9% in early morning trading on news that Newmont raised its price proposal in its offer to acquire Australia’s Newcrest Mining for $19.5 billion, which is 16% higher than Newmont’s initial bid. If the deal goes through, it would further secure Newmont’s position as the world’s biggest gold producer. Upstart — Upstart fell about 2% after JPMorgan…

Over the last holiday season, I vacationed on a private island. Most people on the island, except for yours truly, were billionaires. Amid super-yachts and private jets, one stereotypical signifier of extravagant wealth was notably absent: designer logos. I was shocked that I did not see one luxury brand donned by any of the uber-rich people. While chatting up a fellow vacationer, the CEO of a high-end luxury brand, I asked if he was upset that his billionaire friends didn’t represent his brand. He said, “We don’t market to billionaires. They have nothing to prove and don’t buy our products.…

With yields north of 7%, closed-end funds (CEFs) should be a staple of every American’s portfolio. Especially when you consider that the vast majority of these funds pay dividends every single month. But the truth is, CEFs remain a niche product—only folks have taken the time to try them out realize what incredible income generators they are. (This is why I started my CEF Insider service: to bust the myths around CEFs and give members a selection of diversified funds they can use to build a retirement-changing income stream.) Why are CEFs still off most people’s radar? Mainly due to…

The number of initial public offerings (IPO) worldwide slumped in the first three months of 2023, according to research firm EY Club. Activity was especially weak in the UK, it said, while Asia Pacific dominated the global IPO landscape. There were just 299 IPO deals in total between January and March, EY Club data showed, down 8% year on year. And total proceeds dropped 61% from the corresponding 2022 period, to $21.5 billion. There was a notable decline in the valuations of technology companies, firms which have dominated IPO activity in recent years. High inflation, turbulence in banking and cryptocurrency…

WASHINGTON (Reuters) – Cameroon is working to boost export revenues to fend off a potential debt crisis and has relaunched talks with the U.S. to rejoin Washington’s flagship trade initiative with Africa, its economy minister said on Monday. The economic fallout from the COVID-19 pandemic and the subsequent global shocks provoked by the war in Ukraine have hit African countries hard, denting economic growth and aggravating their sovereign debt positions. The International Monetary Fund (IMF) forecasts that Cameroon, a Central African oil producer, will record 4.3% economic growth this year after it slumped to 0.5% in 2020. The Fund has…