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Arm executives and CEO Rene Haas gather outside Nasdaq Market site, as Softbank's Arm, chip design firm, holds an initial public offering (IPO), in New York, U.S., September 14, 2023. REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsSept 15 (Reuters) - Shares of SoftBank's Arm Holdings closed a volatile session lower on Friday, a day after a stellar Nasdaq debut that valued the British chip designer at $65 billion. The stock fell 4.5% to end at $60.75, after trading as high as $69 earlier in the session. The Nasdaq (.IXIC) was down 1.6% and the S&P 500 (.SPX) fell 1.2%, while an index of semiconductors (.SOX) sank 3%. Analysts said further trading volatility in Arm may be seen if the company draws more interest from AI-focused retail investors.

Persons: Rene Haas, Brendan McDermid, chipmakers, Arm's, Randy Frederick, Charles Schwab, Rick Meckler, Sophie Lund, Yates, Hargreaves Lansdown, Financials, Michael Ashley Schulman, Needham, Manya Saini, Caroline Valetkevitch, Saqib Iqbal Ahmed, Niket Nishant, Arun Koyyur, Grant McCool Organizations: Nasdaq, REUTERS, Arm Holdings, Major U.S, Cherry Lane Investments, Analysts, Graphics Arm, Running, Capital Advisors, Nvidia, Reuters Graphics, Thomson Locations: New York, U.S, British, Austin , Texas, New Vernon , New Jersey, Bengaluru

The new round, led by T. Rowe Price, could mark the last round of private funding as the data company gears up for the public market. Chipmaker Nvidia (NVDA.O), another beneficiary of the AI boom, and credit card firm Capital One Financial (COF.N), also participated in the latest funding round. AI, the latest buzzword in the technology space, has captivated the interest of investors from Silicon Valley to Wall Street. Its latest valuation is over 13% more than the $38 billion the San Francisco-based company was worth after its last fundraise in 2021. The company has raised $4 billion since inception.

Persons: Rowe Price, Ali Ghodsi, Ghodsi, Andreessen Horowitz, Baillie Gifford, Morgan, Weeks, Databricks, Niket, Krystal Hu, Dhanya Ann Thoppil Organizations: Nvidia, Reuters, Fidelity Management & Research, Tiger Global, Thomson Locations: Silicon Valley, Wall, Francisco, Bengaluru, Hong Kong

☆ SoftBank's Arm set to debut on Nasdaq after biggest IPO since 2021
▼ + stars: | 2023-09-14 | by ( ) www.reuters.com time to read: +3 min

A smartphone with a displayed Arm Ltd logo is placed on a computer motherboard in this illustration taken March 6, 2023. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsSept 14 (Reuters) - SoftBank's chip designer Arm Holdings (ARM.O) is set to debut on the Nasdaq on Thursday, in what is expected to be the biggest test for the U.S. IPO market after a listing drought that lasted for nearly 16 months. Hopes of a revival in the IPO market largely depend on the success of the high-profile listings of Arm and other marquee startups, including grocery delivery firm Instacart and marketing firm Klaviyo. Arm also told investors its royalty fees, which account for most of its revenue, were accumulating since it started collecting them in the early 1990s. Royalty revenue came in at $1.68 billion at the latest fiscal year, up from $1.56 billion a year ago.

Persons: Dado Ruvic, iPhones, it's, Susannah Streeter, Hargreaves Lansdown, Goldman Sachs, JPMorgan Chase, Manya Saini, Niket, Arun Koyyur Organizations: REUTERS, Arm Holdings, Nasdaq, U.S, Apple, Intel, London Stock Exchange, SoftBank, Android, Nvidia, Devices, Broadcom, Qualcomm, Micron Technology, Barclays, JPMorgan, Mizuho Financial Group, Thomson Locations: Samsung's, China, New York, Bengaluru

☆ Citigroup's business heads in revamped structure
▼ + stars: | 2023-09-13 | by ( ) www.reuters.com time to read: +3 min

The Citigroup Inc (Citi) logo is seen at the SIBOS banking and financial conference in Toronto, Ontario, Canada October 19, 2017. He is an alum of the London Business School and the London School of Economics. In 2021, he became the global head of Citi's treasury and trade solutions arm. ANDY SIEG, WEALTH The incoming head of Citi's wealth management unit starts on Sept. 27, after running Bank of America's powerhouse Merrill Lynch Wealth Management division since 2017. He was previously the head of the consumer bank in Asia and Europe, Middle East and Africa.

Persons: Chris Helgren, Jane Fraser, SHAHMIR, Khaliq, Fraser, ANDREW MORTON, Morton, Lehman, PETER BABEJ, ANDY SIEG, Merrill, GONZALO LUCHETTI, Niket, Lananh Nguyen, Chizu Organizations: Citigroup Inc, Citi, REUTERS, Citigroup, London Business School, London School of Economics, Morton, Heath, Lehman Brothers, Citi Asia Pacific, Deutsche Bank, Lazard, of America's, Merrill Lynch Wealth Management, JPMorgan Chase, Bain & Company, Thomson Locations: Toronto , Ontario, Canada, Fraser, Jarrow, Asia, Europe, Middle East, Africa, Bengaluru

☆ Barclays CEO expects revival of deals over next months
▼ + stars: | 2023-09-12 | by ( ) www.reuters.com time to read: 1 min

The logo of Barclays bank is seen on glass lamps outside of a branch of the bank in the City of London financial district in London September 4, 2017. REUTERS/Toby Melville/File Photo Acquire Licensing RightsNEW YORK, Sept 12 (Reuters) - Barclays Chief Executive Officer C.S. Venkatakrishnan on Tuesday said he is seeing signs investment banking activity will recover. The CEO, speaking at an investment conference hosted by the bank in New York, said the conditions to reactivate M&A deals and share offerings are being met, with more stable markets, bank lending in terms attractive to investors and valuation corrections over the last months. Reporting by Tatiana Bautzer and Niket Nishant; Editing by Mark PorterOur Standards: The Thomson Reuters Trust Principles.

Persons: Toby Melville, C.S, Venkatakrishnan, Tatiana Bautzer, Mark Porter Organizations: Barclays, REUTERS, Thomson Locations: City, London, New York

☆ Birkenstock files for U.S. IPO as listings recovery gains pace
▼ + stars: | 2023-09-12 | by ( ) www.reuters.com time to read: +2 min

In contrast, U.S. listings have fetched nearly double the amount secured in 2022, according to data from Dealogic. In July, Birkenstock majority owner L Catterton's beauty firm Oddity Tech (ODD.O) rose 40% on its Nasdaq debut. Birkenstock, a family-owned business that traces its roots back to 1774, said it intends to list its shares under the "BIRK" ticker on the New York Stock Exchange. Goldman Sachs, J.P. Morgan and Morgan Stanley are the lead underwriters for the IPO. Entities affiliated with L Catterton will control a majority of the combined voting power of the shares after the offering, it said.

Persons: Margot Robbie, Goldman Sachs, J.P, Morgan, Morgan Stanley, Niket Nishant, Akash Sriram, Pritam Biswas, Devika Organizations: British, SoftBank, Tech, Nasdaq, New York Stock Exchange, underwriters, Thomson Locations: United States, U.S, Europe, Dealogic, Bengaluru

Sept 11 (Reuters) - Klaviyo is seeking a fully-diluted valuation of up to $8.4 billion in its initial public offering (IPO) in the United States, the marketing firm said on Monday, as it becomes the latest company to tap a growing wave of stock market listings. However, the company's proposed valuation is a climb-down from the $9.15 billion pre-money valuation at which Klaviyo last raised capital in 2021, reflecting a broader gloom in the technology startup ecosystem. Founded in 2012, Klaviyo helps store and analyze data for e-commerce brands that enables them to send out personalized marketing emails and messages to potential customers. Klaviyo posted 51% growth in revenue to $164.6 million for the three months ended June 30. The company is expected to debut in September, a busy month for stock market listings that could serve as a litmus test for other companies looking to go public.

Persons: Andrew Bialecki, Klaviyo, AllianceBernstein, Goldman Sachs, Morgan Stanley, Sri Hari, Manya, Niket Nishant, Shweta Agarwal, Maju Samuel Organizations: Arm Holdings, Neumora Therapeutics, Summit Partners, BlackRock, New York Stock Exchange, Citigroup, underwriters, Sri, Manya Saini, Thomson Locations: United States, Boston, United Kingdom, Australia, Bengaluru

☆ Grocery delivery app Instacart aims for up to $7.7 bln valuation in US IPO
▼ + stars: | 2023-09-11 | by ( ) www.reuters.com time to read: +2 min

As the Federal Reserve raised borrowing costs to tame inflation, several high-flying startups have had to raise funds at lower valuations. Instacart too has had to cut its internal valuation to as low as $10 billion in December in its long walk toward a Nasdaq debut. Instacart would join SoftBank's (9984.T) chip designer Arm and marketing automation firm Klaviyo, which are also gearing up for market debuts in September. Instacart and its selling shareholders are looking to raise up to $616 million by offering 22 million shares priced between $26 and $28 each, it said in a regulatory filing. Reporting by Niket Nishant and Manya Saini in Bengaluru; Editing by Arun KoyyurOur Standards: The Thomson Reuters Trust Principles.

Persons: Goldman Sachs, Niket Nishant, Manya, Arun Koyyur Organizations: Federal Reserve, Nasdaq, Reuters, Instacart, Fed, Cornerstone, Norges Bank Investment Management, Norges Bank, Sequoia Capital, D1 Capital Partners, Valiant Capital Management, Manya Saini, Thomson Locations: United States, San Francisco, U.S, Ukraine, TCV, Sequoia, Bengaluru

☆ Instacart to target valuation of up to $9.3 billion in IPO, source says
▼ + stars: | 2023-09-10 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Cheney Orr Acquire Licensing RightsSept 10 (Reuters) - Grocery delivery service Instacart is targeting a valuation between $8.6 billion and $9.3 billion in its initial public offering, according to a person familiar with the matter. The valuation range will be disclosed in an updated IPO regulatory filing on Monday, the source said on SundayInstacart declined to comment. The Wall Street Journal was the first to report on Sunday on Instacart's IPO valuation target. Unlike an IPO, no shares are sold in advance in a direct listing and investors can sell their shares directly to the public. For the six months ended June 30, Instacart last month reported revenue of $1.48 billion, up 31% from the same period last year.

Persons: Eric Cohn, Cheney Orr, Instacart, Andreessen Horowitz, Rowe Price, Anirudh Saligrama, Manya Saini, Niket, Echo Wang, Cynthia Osterman, Leslie Adler Organizations: Safeway, REUTERS, Arm Holdings Ltd, Reuters, Sequoia Capital, Fidelity Management & Research, Thomson Locations: Tucson , Arizona, U.S, Bengaluru, Echo, New York

☆ Instacart to target valuation of up to $9.3 bln in IPO -source
▼ + stars: | 2023-09-10 | by ( ) www.reuters.com time to read: +1 min

Sept 10 (Reuters) - Grocery delivery service Instacart is targeting a valuation between $8.6 billion and $9.3 billion in its initial public offering, according to a person familiar with the matter. The valuation range will be disclosed in an updated IPO regulatory filing on Monday, the source said on SundayInstacart declined to comment. The Wall Street Journal was the first to report on Sunday on Instacart's IPO valuation target. The targeted valuation is a steep drop from the firm's $39 billion valuationin 2021, when the coronavirus pandemic was raging and doorstep delivery boomed. Like SoftBank's chip designer Arm Holdings Ltd and marketing automation firm Klaviyo, Instacart is expected to list its shares in September - part of a wave of high-profile names testing investor appetite for new listings.

Persons: Instacart, Anirudh Saligrama, Manya Saini, Niket, Echo Wang, Cynthia Osterman, Leslie Adler Organizations: Arm Holdings Ltd, Thomson Locations: Bengaluru, Echo, New York

Overall U.S. banks' cash assets were $3.26 trillion as of Aug. 23, up 5.4% from the end of 2022. The SVB failure triggered a sudden dash for cash at banks, which within two weeks had bulked up cash assets to $3.49 trillion, the highest level since April 2022. It has $420 billion in cash and $990 billionof what it calls high quality liquidity assets and other unencumbered securities, it said. "The good news is for some of these banks re-investing cash is that we have pretty high short-term rates," said Mac Sykes, portfolio manager at Gabelli Funds. "It's definitely opportunistic and advantageous to be investing short-term securities."

Persons: Carlo Allegri, David Fanger, Moody's, Brendan Browne, Manan Gosalia, Morgan Stanley, Peter Marshall, Mac Sykes, Saeed Azhar, Ann Saphir, Niket, Megan Davies, Nick Zieminski, Richard Chang Organizations: Bank of America, REUTERS, FRANCISCO, Silicon Valley Bank, Signature Bank, Federal, Graphics, Reuters, JPMorgan, Federal Reserve, Regulators, FDIC, Gabelli, Thomson Locations: Manhattan, New York City , New York, U.S, Silicon

☆ Factbox: What are global companies saying about China's economy?
▼ + stars: | 2023-08-29 | by ( ) www.reuters.com time to read: +1 min

People cross a street near office towers in the Lujiazui financial district in Shanghai, China, February 28, 2023. REUTERS/Aly Song/File Photo Acquire Licensing RightsAug 29 (Reuters) - United States Commerce Secretary Gina Raimondo has said U.S. companies have raised concerns that China has become "uninvestible", pointing to fines, raids and other actions that have made it too risky to do business in the world's second-largest economy. Major global firms ranging from banks to chipmakers are taking a largely cautious stance on their China business amid a frail recovery of the country's economy from a pandemic slowdown. Following are comments from some of the top firms on their China business during the latest reporting season:Compiled by Savyata Mishra, Arunima Kumar, Niket Nishant, Granth Vanaik, Aditya Soni and Bhanvi Satija; Edited by Shinjini Ganguli and Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

Persons: Aly, Gina Raimondo, Savyata Mishra, Arunima Kumar, Niket Nishant, Granth Vanaik, Aditya Soni, Bhanvi, Shinjini Ganguli, Shounak Organizations: REUTERS, United States, Thomson Locations: Shanghai, China, U.S

☆ Tech firm Klaviyo reveals revenue rise ahead of US IPO
▼ + stars: | 2023-08-25 | by ( ) www.reuters.com time to read: +2 min

Aug 25 (Reuters) - Klaviyo's revenue rose 51% for the recent quarter, the data and marketing automation company disclosed in its paperwork for a U.S. initial public offering (IPO) submitted on Friday. Other marquee names testing the IPO market include SoftBank Group-backed chip designer Arm and grocery delivery app Instacart. Successful stock market flotations from these companies could underscore the return of investor appetite for high-growth technology firms and could buoy the IPO market, encouraging other startups to move ahead with their offerings. The company reported revenue of $164.6 million for the quarter ended June 30, compared with $109 million a year earlier. Goldman Sachs, Morgan Stanley and Citigroup are acting as lead underwriters of the offering, the company said in its filing.

Persons: IPOs, Klaviyo, Goldman Sachs, Morgan Stanley, Manya Saini, Niket, Shilpi Majumdar, Krishna Chandra Organizations: U.S, SoftBank, Reuters, New York Stock Exchange, Summit Partners, Citigroup, Thomson Locations: United States, Bengaluru

The development comes days after SoftBank Group-backed (9984.T) chip designer Arm Holdings made public its IPO filing. Instacart said its revenue had surged to $1.48 billion in the six months ended June 30, compared with $1.13 billion in the same period last year. Net income was $242 million during the six-month period, compared to a $74 million loss a year earlier, Instacart said. Customers can order through the Instacart app, and an Instacart "shopper" delivers the product in as little as 30 minutes. Unlike in an IPO, no shares are sold in advance in a direct listing and investors can sell their shares directly to the public.

Persons: Dado Ruvic, Mark Schwartz, Mike Bellin, Instacart, Goldman Sachs, Fidji Simo, Frank Slootman, Niket, Savyata Mishra, Shilpi Majumdar, Shinjini, Maju Samuel Organizations: REUTERS, SoftBank, Arm Holdings, PricewaterhouseCoopers U.S, San, underwriters, Nasdaq, Facebook, Canada, CVS, Reuters, Thomson Locations: San Francisco, United States, Snowflake, Bengaluru

☆ Waystar confidentially files for US IPO
▼ + stars: | 2023-08-24 | by ( ) www.reuters.com time to read: 1 min

Aug 24 (Reuters) - Waystar Holding, the parent company of a healthcare payments technology firm, said on Thursday it had confidentially filed for an initial public offering (IPO) in the United States. The announcement comes days after Reuters reported the company has tapped banks for an IPO that could value it at as much as $8 billion, including debt. The IPO market in the United States is showing signs of revival after a drought last year, as several high-profile companies look to list their shares. Reporting by Niket Nishant in Bengaluru; Editing by Shilpi MajumdarOur Standards: The Thomson Reuters Trust Principles.

Persons: Niket, Shilpi Majumdar Organizations: Waystar, Reuters, Thomson Locations: United States, Bengaluru

☆ AI startup Hugging Face valued at $4.5 bln in latest round of funding
▼ + stars: | 2023-08-24 | by ( ) www.reuters.com time to read: +1 min

Aug 24 (Reuters) - AI startup Hugging Face said on Thursday it was valued at $4.5 billion in a $235-million funding round backed by technology heavyweights, including Salesforce (CRM.N), Alphabet's (GOOGL.O) Google and Nvidia (NVDA.O). The latest round of funding outlines the rapidly growing adoption of artificial intelligence (AI), which has been hailed by many as the next frontier of technology and has attracted some of the biggest investors in Silicon Valley. Following the launch of OpenAI's popular chatbot ChatGPT, several AI startups like Microsoft-backed (MSFT.O) Inflection AI and Google-backed Runway have raised funds. Intel (INTC.O), Advanced Micro Devices (AMD.O), Qualcomm (QCOM.O), IBM (IBM.N), Amazon (AMZN.O) and Ashton Kutcher-backed venture capital firm Sound Ventures also participated in Hugging Face's latest funding round. "In five years, every tech company will be an AI company," Delangue added.

Persons: Ashton Kutcher, Face's, Clément Delangue, Delangue, Shubhendu Satish Deshmukh, Niket, Shweta Agarwal Organizations: Google, Nvidia, Microsoft, Intel, Devices, Qualcomm, IBM, Sound Ventures, Thomson Locations: Silicon Valley, Bengaluru

REUTERS/Fabrizio Bensch/File Photo Acquire Licensing RightsWASHINGTON, Aug 21 (Reuters) - PayPal's (PYPL.O) stablecoin is likely to succeed where Facebook's failed, thanks to the payment giant's standing in Washington and policymakers' greater understanding of the issues in the last three years. "From a policy perspective, there is a seismic difference between Facebook's Libra and PayPal's stablecoin," said Isaac Boltansky, director of policy research for brokerage BTIG. Dan Dolev, a senior analyst at Mizuho, said PayPal USD is not a game-changer for PayPal investors. When Facebook unveiled Libra, a stablecoin whose operations were based in Switzerland and which was pegged to a basket of currencies, executives made no secret of their ambitions. Facebook rebranded Libra, scaled it back and moved the project to the United States, in a bid to win U.S. regulatory approval.

Persons: Fabrizio Bensch, stablecoin, Facebook's, Christopher Giancarlo, PayPal's, Isaac Boltansky, Dan Schulman, Dan Dolev, Maxine Waters, Joe Biden's, Janet Yellen, Yellen, TerraUSD, stablecoins, There's, Jack Fletcher, Patrick McHenry, Hannah Lang, Andrea Shalal, Pete Schroeder, Niket, Michelle Price, Matthew Lewis Organizations: PayPal, REUTERS, Rights, U.S ., Facebook, U.S . Commodity Futures Trading Commission, Federal Reserve, Meta, Paxos Trust, New York State Department of Financial Services, Mizuho, Financial Services, Treasury, Congress, prudential, Republican, Thomson Locations: Berlin, Germany, Washington, U.S, Switzerland, United States, transact, stablecoins, Bengaluru

☆ Coinbase wins approval to offer crypto futures trading in US
▼ + stars: | 2023-08-16 | by ( ) www.reuters.com time to read: +2 min

A representation of the cryptocurrency is seen in front of Coinbase logo in this illustration taken, March 4, 2022. The approval was granted by the National Futures Association (NFA), a self-regulatory organization designated by the Commodity Futures Trading Commission (CFTC). The NFA approval, which came nearly two years after Coinbase filed its application, could allow the company to expand into a largely untapped market. In July, crypto derivatives trading volumes globally totaled about $1.85 trillion, according to research firm CCData. The latest offerings will be from Coinbase Financial Markets, a unit of Coinbase.

Persons: Dado Ruvic, Coinbase, Brian Armstrong, Gary Gensler's, Niket, Saumyadeb Organizations: REUTERS, Securities and Exchange Commission, SEC, National Futures Association, Commodity Futures Trading Commission, Coinbase Financial, Thomson Locations: Bengaluru

☆ Fitch warns it may be forced to downgrade multiple banks, including JPMorgan - CNBC
▼ + stars: | 2023-08-15 | by ( ) www.reuters.com time to read: +1 min

The Empire State Building and Manhattan skyline are pictured from the Summit at One Vanderbilt observatory in Manhattan in New York City, U.S., April 14, 2023. REUTERS/Mike Segar/File PhotoAug 15 (Reuters) - An analyst at Fitch Ratings warned that U.S. banks, including JPMorgan Chase (JPM.N), could be downgraded if the agency further cuts its assessment of the operating environment for the industry, according to a report from CNBC on Tuesday. In June, Fitch lowered the score of the U.S. banking industry's "operating environment" to AA- from AA, citing pressure on the country's credit rating, gaps in regulatory framework and uncertainty about the future trajectory of interest rate hikes. Another one-notch downgrade, to A+ from AA-, would force Fitch to reevaluate ratings on each of the more than 70 U.S. banks it covers, analyst Chris Wolfe told CNBC. Lenders were rocked earlier this month after Fitch's peer Moody's downgraded 10 mid-sized U.S. banks and warned it may cut ratings of several others.

Persons: Mike Segar, Fitch, Chris Wolfe, Moody's, Niket, Maju Samuel Organizations: Vanderbilt, REUTERS, Fitch, JPMorgan Chase, CNBC, Thomson Locations: Manhattan, New York City, U.S, Bengaluru

☆ U.S. bank stocks fall on Fitch downgrade warning, tougher oversight worries
▼ + stars: | 2023-08-15 | by ( ) www.reuters.com time to read: +2 min

A person waits on the Wall Street subway platform in the Financial District of Manhattan, New York City, U.S., August 20, 2021. The warning followed rival Moody's downgrading 10 mid-sized lenders earlier this month, citing funding risks and weaker profitability. Among the mid-sized lenders, Western Alliance Bancorp (WAL.N) and PacWest Bancorp (PACW.O) fell 8.4% and 1.6%, respectively. The S&P 500 banks index (.SPXBK) was down 2.1%, hitting its lowest in a month. Separately, Discover Financial Services (DFS.N) shares fell 8.3% to $94.10, a day after its CEO stepped down.

Persons: Andrew Kelly, Banks, Wells, JPMorgan Chase, Goldman, Morgan Stanley, MS.N, Michael Burry's, Niket, Arun Koyyur Organizations: Financial, of, REUTERS, CNBC, Federal Deposit Insurance Corp, Bank of America, JPMorgan, Goldman Sachs, Citigroup, Western Alliance Bancorp, PacWest Bancorp, Michael Burry's Scion Asset Management, Comerica, Discover Financial Services, Thomson Locations: of Manhattan , New York City, U.S, Bengaluru

[1/2] FILE PHOTO: The PayPal app logo seen on a mobile phone in this illustration photo October 16, 2017. "We believe (Chriss's) experience sounds highly relevant to PayPal as it reemphasizes focus on small merchants and launches PayPal Complete Payments," William Blair analysts wrote in a note. PayPal Complete Payments is a payments processing solution for small and medium-sized businesses. According to Wolfe Research, his biggest accomplishment was the company's $12-billion acquisition and integration of Mailchimp in 2021. Outgoing CEO Schulman will remain on the board of the company until its next annual meeting of stockholders in May, PayPal said.

Persons: Thomas White, Alex Chriss, Dan Schulman, William Blair, Wolfe, Darrin Peller, Chriss, Schulman, Niket, Pooja Desai Organizations: PayPal, REUTERS, PayPal Holdings, Intuit, eBay, Intuit's, Wolfe Research, Reuters, Thomson Locations: San Jose , California, Bengaluru

☆ FC Barcelona unit to list in US via $1 bln SPAC deal
▼ + stars: | 2023-08-11 | by ( ) www.reuters.com time to read: +2 min

A silhouette of a woman walks past behind a FC Barcelona's logo at Camp Nou stadium in Barcelona, Spain, March 24, 2016. REUTERS/Albert Gea/File PhotoAug 11 (Reuters) - Spanish soccer club FC Barcelona has agreed to list its content creation unit Barca Media on Nasdaq through a merger with a special purpose acquisition company, valuing the combined entity at $1 billion. The club said on Friday the deal will fetch new capital for Barca Media, a segment that FC Barcelona expects will be "an important source of revenue in the coming years". Barca Media will start trading on Nasdaq after the deal with Mountain & Co I Acquisition Corp (MCAA.O) closes in the last quarter of this year, FC Barcelona said. A special-purpose acquisition company (SPAC), also known as a blank-check company, is a listed entity that merges with a private firm to take it public.

Persons: Albert Gea, Joan Laporta, Lionel Messi, Laporta, Niket Nishant, Pritam Biswas, Krishna Chandra Organizations: FC, Camp Nou, REUTERS, FC Barcelona, Media, Nasdaq, Barca Media, FC Barcelona's, Mountain, Thomson Locations: Barcelona, Spain, Spanish, Bengaluru

☆ US bank stocks drop as Moody's downgrade sours sentiment
▼ + stars: | 2023-08-08 | by ( ) www.reuters.com time to read: +2 min

Raindrops hang on a sign for Wall Street outside the New York Stock Exchange in Manhattan in New York City, New York, U.S., October 26, 2020. REUTERS/Mike Segar/File PhotoAug 8 (Reuters) - Shares of U.S. banks fell in premarket trading on Tuesday after ratings agency Moody's downgraded 10 mid-sized lenders, reigniting investor concerns about the challenges facing the industry. Moody's also warned it may cut ratings of some of the biggest U.S. lenders, and placed six of them under review for a potential downgrade. "It is significant for U.S. growth too, as U.S. regional banks are the financing lifeblood for small and mid-size enterprises." Shares of Bank of America (BAC.N), Citigroup (C.N) and JPMorgan Chase (JPM.N) fell more than 1%.

Persons: Mike Segar, Moody's, Stuart Cole, JPMorgan Chase, Georgios Leontaris, Niket Nishant, Mayur, Shashwat Chauhan, Shounak Dasgupta, Saumyadeb Organizations: Wall, New York Stock Exchange, REUTERS, Bank of New York Mellon, U.S . Bancorp, Truist, Equiti, Bank of America, Citigroup, JPMorgan, Bank, EMEA, HSBC Global Private Banking, Wealth, Thomson Locations: Manhattan, New York City , New York, U.S, Silicon, Switzerland, Bengaluru

☆ Musk's Neuralink raises $280 mln in latest fundraise
▼ + stars: | 2023-08-07 | by ( ) www.reuters.com time to read: 1 min

Neuralink logo and Elon Musk photo are seen in this illustration taken, December 19, 2022. REUTERS/Dado Ruvic/IllustrationAug 7 (Reuters) - Elon Musk's brain chip startup Neuralink has raised $280 million in a funding round led by Peter Thiel's Founders Fund, the company said in a post on messaging platform X. The fundraise comes months after Musk said he expects the startup to begin its first human trial this year. Reporting by Niket Nishant in Bengaluru; Editing by Arun KoyyurOur Standards: The Thomson Reuters Trust Principles.

Persons: Elon, Dado Ruvic, Peter Thiel's, Musk, Niket, Arun Koyyur Organizations: REUTERS, Fund, Thomson Locations: Bengaluru

☆ U.S. FTC agrees to dismiss case against ICE's $11.7 bln Black Knight deal
▼ + stars: | 2023-08-07 | by ( ) www.reuters.com time to read: +1 min

A screen displays the logo for Black Knight on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., May 4, 2022. On Monday, New York Stock Exchange-owner ICE and mortgage data vendor Black Knight said the joint agreement will allow them to continue working toward a final settlement agreement with the FTC. Shares of Black Knight rose 4.7% to $74.89 in premarket trading. The agreement clears a major regulatory hurdle for ICE and Black Knight, which had been struggling to get a green light from regulators. Black Knight agreed to shed two of its units to ease the FTC's concerns but had said it was willing to go to court to save the deal if necessary.

Persons: Knight, Brendan McDermid, Black Knight, Ellie Mae, Niket, Nivedita Organizations: New York Stock Exchange, REUTERS, U.S . Federal Trade Commission, Intercontinental Exchange's, Black, ICE, Thomson Locations: New York City, U.S, Bengaluru

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