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☆ The same day SBF promised his hedge fund wasn't getting special treatment, FTX gave it an unlimited line of credit — which other customers didn't get
▼ + stars: | 2023-10-06 | by ( Katie Balevic | ) www.businessinsider.com time to read: +5 min

The same day, the FTX rolled out a feature allowing Alameda to get an unlimited line of credit. Those other accounts signed a line of credit agreement, but Alameda was never required to sign such an agreement, Wang testified. He increased Alameda's line of credit incrementally to a few million, a few hundred million, a billion, and eventually tens of billions. At some point in late 2019 or early 2020, Wang checked Alameda's balance and noticed it was negative. Even doing so, Wang said Alameda's balance was still negative, meaning the money was coming from FTX customers.

Persons: Sam Bankman, Fried, —, FTX, Gary Wang, SBF, Wang, Nishad Singh, Bankman, Caroline Ellison, Sam, FTX's, Adam Yedidia, Yedidia Organizations: Alameda Research, Service, Twitter, Alameda Locations: Alameda, FTX, Manhattan, Bankman, FTT

Eventually, the losses at the hedge fund, Alameda Research, became so large that there was no way to hide them any longer, Wang said in his second day of testimony. “FTX was not fine,” Wang said, referring to the now-infamous tweet that Bankman-Fried wrote only a few days before the exchange filed for bankruptcy in November 2022. Alameda was given these privileges initially because the hedge fund was the primary market maker for FTX's customers in the exchange's early days. The relationship was effectively a two-way street, where the exchange could help out the hedge fund and vice versa as FTX quickly grew between 2019 and 2022. Caroline Ellison, the former girlfriend of Bankman-Fried and CEO of Alameda, is expected to start testifying Tuesday after Wang.

Persons: Sam Bankman, Fried, FTX's, Gary Wang, Wang, “ FTX, ” Wang, FTX, Caroline Ellison Organizations: New, Alameda Research, Prosecutors, Bankman Locations: New York, Bahamas, Alameda

NEW YORK, Oct 5 (Reuters) - Sam Bankman-Fried's college roommate and ex-colleague, Gary Wang, testified on Thursday at the FTX cryptocurrency exchange founder's fraud trial that Bankman-Fried told him to give a hedge fund they co-owned special trading privileges on FTX. The special privileges granted to the hedge fund, Alameda Research, included a $65 billion line of credit, several orders of magnitude bigger than the amount other users were able to borrow, he said. He added that Bankman-Fried had directed him to implement the changes giving Alameda special privileges. Wang, 30, is the first of three former close associates of Bankman-Fried to testify at the trial, which began on Tuesday. Wang said Bankman-Fried decided to name the firm Alameda Research because it "makes it easier to do business if the name doesn't mention trading or cryptocurrency."

Persons: Sam Bankman, Gary Wang, Fried, Wang, FTX, FTX's, Mark Cohen, Matt Huang, Huang, Bankman, Nishad Singh, Caroline Ellison, Alameda's, Adam Yedidia, Yedidia, Sam, Joseph Bankman, Barbara Fried, Luc Cohen, Jody Godoy, Amy Stevens, Matthew Lewis Organizations: Alameda Research, Alameda, Massachusetts Institute of Technology, Prosecutors, MIT, Stanford Law, Thomson Locations: Alameda, tatters, Manhattan, FTX, China, United States, Bahamas, Yedidia, New York

NEW YORK (AP) — Prosecutors went to the heart of their case against FTX founder Sam Bankman-Fried on Thursday as the company's co-founder began his testimony, telling a New York jury that he and Bankman-Fried committed financial crimes and lied to the public before the cryptocurrency trading platform collapsed last year. Bankman-Fried, 31, who has been jailed since August, was brought to the United States from the Bahamas last December after he was charged in Manhattan federal court. Defense lawyers say Bankman-Fried had no criminal intent as he took actions to try to save his businesses after the cryptocurrency market collapsed. The others are Carolyn Ellison, Alameda Research's former chief executive and a former girlfriend of Bankman-Fried, and Nishad Singh, the former engineering director at FTX. He said he lived with Bankman-Fried and other top executives in June or July of 2022 when he told Bankman-Fried one day that he was concerned that Alameda owed FTX a large debt.

Persons: — Prosecutors, Sam Bankman, Fried, Gary Wang, Fried's, Wang, FTX “, ” Wang, Lewis A, Kaplan, Carolyn Ellison, Nishad Singh, Adam Yedidia, Bankman, “ Sam, ” Organizations: —, New, Alameda Research, FTX, Bankman Locations: New York, Alameda, United States, Bahamas, Manhattan, Bankman, Fried, China, Minnesota, FTX

☆ The founder of Tesla's biggest China rival reportedly drank a glass of battery fluid to impress one of Warren Buffett's lieutenants
▼ + stars: | 2023-10-04 | by ( Alexa St. John | ) www.businessinsider.com time to read: +5 min

Its founder, Wang Chuanfu, once drank battery fluid to impress big-name investors, the Wall Street Journal reported. AdvertisementAdvertisementThe founder of Chinese automaker BYD, Tesla's biggest global EV rival, once drank battery fluid in front of a big-name investor to show just how serious he was about his company, the Wall Street Journal reported Wednesday. David Sokol, a lieutenant of Warren Buffett's Berkshire Hathaway, noticed BYD's momentum and visited the company in Shenzhen as early as 2008, according to the Wall Street Journal. BYD saw some hiccups as other Chinese EV makers entered the market and Tesla shored up its Chinese operations. Aside from BYD's unique business achievements, its two head executives also have a noteworthy and fascinating dynamic, the Wall Street Journal reported.

Persons: Elon Musk, Wang Chuanfu, BYD, —, Stella Li, Tesla, David Sokol, Warren Buffett's Berkshire Hathaway, Sokol, Wang Organizations: Elon, Wall Street Journal, Service, EV, Wall Street, Sony, Wall, Motorola, Nokia, Toyota Corolla Locations: China, Shenzhen, Berkshire, BYD, Europe, Southeast Asia, Munich

☆ FTX cofounder Gary Wang is set to testify against his childhood friend Sam Bankman-Fried. Here's what we know.
▼ + stars: | 2023-10-03 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +6 min

FTX cofounder Gary Wang was a critical player during the rise and fall of SBF's crypto empire . AdvertisementAdvertisementWhen Bankman-Fried cofounded Alameda Research in 2017, Wang reportedly left his role at Google. The tight group of executives reportedly included Wang, Bankman-Fried, Caroline Ellison, who was formerly Alameda's CEO, and Nishad Singh, FTX's former director of engineering. But at FTX, Wang was a somewhat reclusive figure, per reports. "All of the sudden that snapped into he was leaving that day, back to the US and implicitly mostly stopped working," Bankman-Fried told the news outlet.

Persons: Gary Wang, Wang, Sam Bankman, —, Bankman, MIT Wang, Wang's, Cherry Hill, Hector, Fried, Caroline Ellison, Nishad Singh, FTX's, Nishad, Gary, Singh, FTX, Ellison, Damian Williams, Ilan Graff, Sundar Organizations: Service, MIT, Bloomberg, Eastside, Epsilon Theta, Google, Forbes, Alameda Research, Court, District of, Sydney Morning Herald, Street Journal, Southern, of New York, Securities and Exchange Commission Locations: Oregon, Cherry Hill, New Jersey, China, Bahamas, Alameda, District of Delaware, FTX

WASHINGTON (AP) — Senate Majority Leader Chuck Schumer is leading a bipartisan congressional delegation to China next week, traveling to the country amid heightened tensions and after several members of President Joe Biden’s Cabinet visited over the summer. Schumer, along with Republican Sen. Mike Crapo of Idaho, is visiting government and business leaders in China, South Korea and Japan “with the goal of advancing U.S. economic and national security interests” in the region, his office said Tuesday. Secretary of State Antony Blinken visited China in June, followed by visits of Treasury and Commerce secretaries Janet Yellen and Gina Raimondo as well as climate envoy John Kerry. Political Cartoons View All 1196 ImagesBiden’s national security adviser Jake Sullivan also held two days of talks with China’s top diplomat Wang Yi in Malta last month. Wang is expected to visit Washington before the end of October on a trip that officials will nail down the date and venue of the expected Biden-Xi summit.

Persons: Chuck Schumer, Joe Biden’s, Schumer, Republican Sen, Mike Crapo of, Schumer —, ”, Biden, Xi Jinping, China’s, Antony Blinken, Janet Yellen, Gina Raimondo, John Kerry, Jake Sullivan, Wang Yi, Wang, Crapo, Democratic Sens, Maggie Hassan, Jon Ossoff of, Republican Sens, Bill Cassidy of, John Kennedy of, Matthew Lee Organizations: WASHINGTON, Republican, Biden, Economic Cooperation, Treasury, Democratic, ___ Associated Press Locations: China, Mike Crapo of Idaho, South Korea, Japan, Ukraine, Taiwan, South China, Asia, San Francisco, Malta, Washington, New Hampshire, Jon Ossoff of Georgia, Bill Cassidy of Louisiana, John Kennedy of Louisiana

"We're definitely seeing a bit of a soft open in the IPO market", said Lizzie Reed, global head of the ECM syndicate desk at Goldman Sachs. Arm and Instacart shares briefly fell below their issue price, suggesting there is still some way before the IPO market fully recovers. Medical glass producer Schott Pharma (1SXP.F) debuted on the Frankfurt Stock Exchange on Thursday, with shares closing 16% above the IPO price. Klaviyo's shares are now trading at a 21% premium to their IPO price. "For the IPO market to open more broadly in the first quarter in 2024 ... we need the 2023 IPO cohort to continue to perform well," said Josh Weismer, head of U.S. ECM, Mizuho Americas.

Persons: Lizzie Reed, Goldman Sachs, IPOs, Robert Stowe ,, Suneel Hargunani, Schott, ThyssenKrupp, Hidrolectrica, Ross Devor, ”, Samir A, Gandhi, Stephane Gruffat, SoftBank, Josh Weismer, Echo Wang, Pablo Mayo, Anousha Sakoui, David Holmes Organizations: Bankers, ECM, Arm Holdings, Barclays, Citigroup, Schott Pharma, Frankfurt Stock Exchange, Thoma Bravo, Deutsche Bank, Nvidia, Apple, Qatar Investment Authority, U.S, Mizuho, Pablo Mayo Cerqueiro, Thomson Locations: United States, Europe, British, New York, U.S, IPOs, East, Africa, Romanian, Qatar, Mizuho Americas, London

Birkenstock believes it can obtain the final sign-off from the U.S. Securities and Exchange Commission even during a shutdown when the financial regulator would operate with only essential staff, the sources said. SEC Chair Gary Gensler said on Wednesday that a shutdown would reduce his agency's staffing to "skeletal" levels, blocking it from approving companies' IPO filings and hindering the agency's ability to respond to any market turmoil. An SEC spokesperson did not immediately respond to a request for comment on Birkenstock's IPO plans. Companies less advanced in their IPO preparations, including healthcare software vendor Waystar, healthcare services firm Brightspring and car-sharing platform Turo, could be affected by a government shutdown. They did not immediately respond to requests for comment.

Persons: Birkenstock, Kevin McCarthy, Gary Gensler, Abigail Summerville, Anirban Sen, Chris Prentice, Echo Wang, Lisa Shumaker Organizations: U.S, U.S . Securities, Exchange, Republican U.S, SEC, Companies, Thomson Locations: Washington, New York

Senator Robert Menendez (D-NJ) delivers remarks, after he and his wife Nadine Menendez were indicted on bribery offenses in connection with their corrupt relationship with three New Jersey businessmen, in Union City, New Jersey, U.S., September 25, 2023. REUTERS/Mike Segar Acquire Licensing RightsNEW YORK, Sept 26 (Reuters) - A New Jersey businessman pleaded not guilty on Tuesday to charges of bribing U.S. Senator Bob Menendez. Menendez, 69, his 56-year-old wife, Nadine Menendez, and two other businessmen accused of bribing the senior New Jersey senator are scheduled to be arraigned on Wednesday. Prosecutors say Hana, who is originally from Egypt, arranged meetings in 2018 between Menendez and Egyptian officials.

Persons: Robert Menendez, Nadine Menendez, Mike Segar, Bob Menendez, Wael Hana, Judge Ona Wang, Menendez, Hana, Washington, Luc Cohen, Jonathan Oatis Organizations: REUTERS, U.S, New, Prosecutors, Senate Foreign Relations, Thomson Locations: Jersey, Union City , New Jersey, U.S, New Jersey, Manhattan, Egypt, United States, New York

☆ Nomura is merely first in line for new China risk
▼ + stars: | 2023-09-25 | by ( Una Galani | ) www.reuters.com time to read: +4 min

After all, Nomura is a minnow in China, ranking 82nd in investment banking in the country by net revenue in 2021, data from Dealogic shows. Like most of its more successful global investment banking peers, Nomura has an eye on deepening its business in China. It acquired a license for a majority-owned securities joint venture, Nomura Orient International Securities, in 2019. Follow @ugalani on TwitterCONTEXT NEWSAuthorities in China have barred Charles Wang Zhonghe, China investment banking chair at Nomura, from leaving the mainland, Reuters reported on Sept. 25 citing two sources with knowledge of the matter. Beijing’s investigation into Cong, former president of China Renaissance Holdings, resulted in the investment bank’s founder Bao being taken away by Chinese authorities in February.

Persons: Charles Wang Zhonghe, Nomura, Goldman Sachs, Morgan Stanley, Wang, Bao Fan, hasn’t, Xi Jinping, Banks, Cong Lin, Bao, Cong, Nomura’s Wang, Antony Currie, Oliver Taslic Organizations: Reuters, Financial Times, UBS, HK, China Securities, Nomura, Commercial Bank of China, China, Apple, Nomura Orient International Securities, Authorities, China Renaissance Holdings, ICBC, Commercial Bank of China Ltd, Thomson Locations: MUMBAI, China, Hong Kong, It’s, Singapore, People’s Republic

☆ China bans Nomura senior investment banker from leaving mainland — sources
▼ + stars: | 2023-09-25 | by ( ) www.cnbc.com time to read: +3 min

Signage for Nomura Holdings Inc. displayed outside a Nomura Securities Co. branch in Tokyo, Japan, on Monday, April 24, 2023. Authorities in China have ordered a senior Nomura Holdings banker overseeing the firm's investment banking operations there not to leave the mainland, two sources with knowledge of the matter said. Charles Wang Zhonghe, China investment banking chairman at Nomura, is prohibited from travelling outside the mainland, said the sources, who sought anonymity as they were not authorised to speak to media. A Reuters analysis has found an apparent surge of court cases involving such bans in recent years, and foreign business lobbies are voicing concern about the trend. In August last year, he was also appointed as chairman of Nomura Orient International Securities, the bank's majority-owned securities business headquartered in the commercial hub of Shanghai.

Persons: Charles Wang Zhonghe, Wang, Nomura, Bao Fan, Cong Lin, Bao, Cong, Nomura's Wang, Wang Wenbin, Mintz, Zhong Organizations: Nomura Holdings Inc, Nomura Securities Co, Nomura Holdings, Nomura, Financial Times, China Renaissance Holdings, ICBC, Commercial Bank of China Ltd, Reuters, Bain & Company, Group, Beijing, European Union, Deutsche Bank, Securities, Nomura Orient International Securities Locations: Tokyo, Japan, China, Hong Kong, Beijing, Shanghai

☆ China bans Nomura senior investment banker from leaving mainland -sources
▼ + stars: | 2023-09-25 | by ( ) www.reuters.com time to read: +4 min

The logo of Nomura Securities is pictured at the company's Otemachi Head Office in Tokyo, Japan, November 18, 2016. Charles Wang Zhonghe, China investment banking chairman at Nomura, is prohibited from travelling outside the mainland, said the sources, who sought anonymity as they were not authorised to speak to media. Asked why the Nomura banker was barred from leaving, Chinese foreign ministry spokesperson Wang Wenbin said he did not have knowledge of the situation at a regular news briefing on Monday. A Reuters analysis has found an apparent surge of court cases involving such bans in recent years, and foreign business lobbies are voicing concern about the trend. In August last year, he was also appointed as chairman of Nomura Orient International Securities, the bank's majority-owned securities business headquartered in the commercial hub of Shanghai.

Persons: Toru Hanai, Charles Wang Zhonghe, Wang, Nomura, Bao Fan, Cong Lin, Bao, Cong, Nomura's Wang, Wang Wenbin, Mintz, Zhong, Selena Li, Kane Wu, Makiko Yamazaki, Liz Lee, Sumeet Chatterjee, Clarence Fernandez Organizations: Nomura Securities, REUTERS, Authorities, Nomura Holdings, Nomura, Financial Times, China Renaissance Holdings, HK, ICBC, Commercial Bank of China Ltd, Reuters, Bain & Company, Group, Beijing, European Union, Deutsche Bank, Securities, Nomura Orient International Securities, Thomson Locations: Tokyo, Japan, HONG KONG, China, Hong Kong, Beijing, Shanghai

☆ China's Wang claims maiden WTA title in Guangzhou
▼ + stars: | 2023-09-23 | by ( ) www.reuters.com time to read: +2 min

The 22-year-old Wang's victory marked the fourth time that a Chinese player has been crowned champion in Guangzhou, following Wang Qiang (2018), Zhang Shuai (2013, 2017) and Li Na (2004). "It was very exciting and it's a very emotional moment because in this tournament, every player is really tough," Wang said. "I wanted a title from the first day, even when I started tennis. China last hosted a WTA tournament in 2019, before the COVID crisis wreaked havoc on the global sports schedule. The WTA was widely praised for suspending tournaments in China but reversed its decision in April.

Persons: Wang Xiyu, Russia's Mirra Andreeva, Toby Melville, Magda Linette, Wang Qiang, Zhang Shuai, Li Na, Wang, I'm, Zhu Lin, Hua Hin, Zheng Qinwen, Peng Shuai, Peng, Shrivathsa Sridhar Organizations: Lawn Tennis, Croquet Club, WTA, Guangzhou, women's, Thomson Locations: London, Britain, Guangzhou, Palermo, China, Bengaluru

☆ WTA roundup: Greet Minnen, Yulia Putintseva advance in China
▼ + stars: | 2023-09-22 | by ( ) www.reuters.com time to read: +2 min

The unseeded Putintseva eliminated third seed Tatjana Maria of Germany 6-4, 6-7 (6), 6-0. Putintseva converted six of 12 break points and saved nine of 11, overcoming Maria's 6-1 edge in aces. Minnen, the seventh seed, ousted fourth seed Lucia Bronzetti of Italy 6-7 (8), 6-4, 6-1. Top seed Magda Linette of Poland avoided the upset in defeating fifth seed Rebeka Masarova of Spain 7-5, 7-6 (6). In the semifinals, Dolehide will face countrywoman Sofia Kenin, who was a 6-4, 6-7 (6), 6-1 winner over Canada's Leylah Fernandez on Thursday.

Persons: Belgium's, Minnen, Venus Williams, Shannon Stapleton, Kazakhstan's Yulia Putintseva, Putintseva, Tatjana Maria, Lucia Bronzetti, Magda Linette, Rebeka, China's Xiyu Wang, Wang, Linette, Caroline Dolehide, Martina Trevisan, Dolehide, Trevisan, countrywoman Sofia Kenin, Canada's Leylah Fernandez, Maria Sakkari, Colombia's Emiliana Arango, Caroline Garcia of Organizations: Tennis, U.S, REUTERS, Guangzhou, Slovakian Viktoria Hruncakova, Guadalajara Open Akron, Caroline Garcia of France, Victoria Azarenka, Thomson Locations: Flushing Meadows , New York, United States, China, Germany, Italy, Poland, Spain, Putintseva, Guadalajara, Mexico

Trader works on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., March 30, 2023. REUTERS/Brendan McDermid Acquire Licensing RightsSept 20 (Reuters) - Shares of Klaviyo (KVYO.N) were set to open up to 23% above their IPO price on Wednesday, giving the marketing automation company a potential valuation of $11.4 billion. The stock was indicated to open between $35 and $37, compared with the initial public offering (IPO) price of $30. The Boston-based company's IPO of 19.2 million shares was priced above range on Tuesday, raising $576 million in proceeds, part of which will go to existing investors who cashed out some of their holdings. BlackRock (BLK.N) and AllianceBernstein have agreed to buy up to $100 million worth of shares each, accounting for a big chunk of the total IPO proceeds.

Persons: Brendan McDermid, AllianceBernstein, Andrew Bialecki, Ed Hallen, Klaviyo, Jaiveer Singh, Anil D'Silva, Vinay Dwivedi, Shounak Organizations: New York Stock Exchange, REUTERS, BlackRock, Thomson Locations: New York City, U.S, Boston, Bengaluru

NEW YORK, Sept 19 (Reuters) - Marketing automation company Klaviyo Inc (KVYO.N) is considering pricing its initial public offering (IPO) on Tuesday at the top of its indicated price range or just above it, according to people familiar with the matter. Klaviyo is discussing with its IPO underwriters the possibility of selling shares at $29 or $30 apiece, the sources said. The company revised its indicated IPO price range from $25-27 per share to $27-$29 per share on Monday. At $29 per share, Klaviyo would be raising $557 million in its IPO and would be worth about $9 billion on a fully diluted basis. The sources requested anonymity ahead of the IPO pricing on Thursday evening.

Persons: Klaviyo, Echo Wang, Anirban Sen, Greg Roumeliotis Organizations: Klaviyo Inc, underwriters, Thomson Locations: New York

NEW YORK, Sept 19 (Reuters) - Marketing automation company Klaviyo Inc (KVYO.N) secured a valuation of $9.2 billion in its initial public offering (IPO) on Tuesday, after pricing the share sale above its indicated range, according to people familiar with the matter. Klaviyo priced 19.2 million shares at $30 apiece, the sources said, requesting anonymity as the discussions are confidential. The company revised its indicated IPO price range from $25-$27 per share to $27-$29 per share on Monday. Reuters was first to report earlier on Tuesday that Klaviyo was considering pricing the IPO above its targeted range at $30 per share. Bloomberg News first reported about the IPO being priced at $30.

Persons: Klaviyo, Andrew Bialecki, Ed Hallen, ”, Goldman Sachs, Morgan Stanley, William Blair, Echo Wang, Anirban Sen, Timothy Gardner Organizations: Klaviyo Inc, Reuters, Bloomberg News, BlackRock Inc, Nasdaq, New York Stock Exchange, Citigroup Inc, Barclays Plc, Mizuho Financial Group, underwriters, Thomson Locations: U.S, New York

NEW YORK, Sept 19 (Reuters) - Marketing automation company Klaviyo Inc (KVYO.N) secured a valuation of $9.2 billion in its initial public offering (IPO) on Tuesday, the company said, after pricing the share sale above its indicated range. Klaviyo said it priced 19.2 million shares at $30 apiece. It had raised its indicated IPO price range from $25-$27 per share to $27-$29 per share on Monday. Reuters was first to report that Klaviyo was considering pricing the IPO above its targeted range at $30 per share. Bloomberg News first reported about the IPO being priced at $30.

Persons: Klaviyo, Andrew Bialecki, Ed Hallen, ”, Goldman Sachs, Morgan Stanley, William Blair, Echo Wang, Anirban Sen, Dimpal, Timothy Gardner, Miral Organizations: Klaviyo Inc, Reuters, Bloomberg News, BlackRock Inc, SoftBank, Nasdaq, New York Stock Exchange, Citigroup Inc, Barclays Plc, Mizuho Financial Group, underwriters, Thomson Locations: U.S, New York, Bengaluru

☆ China's Wang Yi visits Russia ahead of possible Xi-Putin meeting
▼ + stars: | 2023-09-18 | by ( ) www.reuters.com time to read: +2 min

Chinese Foreign Minister Wang Yi poses as he meets Turkish Foreign Minister Hakan Fidan (not seen) in Ankara, Turkey, July 26, 2023. Wang, who heads the foreign ministry as well as the ruling Communist Party's foreign affairs office, will meet Security Council Secretary Nikolai Patrushev for annual security talks, the Chinese foreign ministry said in a statement. The veteran diplomat's talks with counterpart Sergei Lavrov will cover a "wide range of issues" including "contacts at higher and the highest levels," the Russian foreign ministry said last week. Ahead of this week's visit, Wang travelled to Malta for hours of "constructive" talks with White House national security adviser Jake Sullivan. Reporting by Ryan Woo; Additional reporting by Lidia Kelly; Editing by Clarence FernandezOur Standards: The Thomson Reuters Trust Principles.

Persons: Wang Yi, Hakan Fidan, Stringer, Vladimir Putin, Wang, Nikolai Patrushev, diplomat's, Sergei Lavrov, Xi Jinping, Putin, Xi, Hague, Maria Zakharova, Jake Sullivan, Joe Biden, Ryan Woo, Lidia Kelly, Clarence Fernandez Organizations: Turkish, Rights, Security, China's, Criminal Court, ICC, White House, Thomson Locations: Ankara, Turkey, Rights BEIJING, Russia, Beijing, Communist, Moscow, Ukraine, China, Rome, United States, Malta, U.S

He also warned that escalating fighting is increasing the danger of a nuclear accident at Europe’s largest nuclear plant in Ukraine. Grossi said he is seeking to re-establish a dialogue with North Korea, which expelled U.N. nuclear weapons inspectors in 2009. Stop it!”Iran has denied impeding the work of IAEA inspectors though it has also been years since its experts have been able to examine surveillance footage. So he has been urging the Ukrainians and Russians not to attack any nuclear plant. There are also some Russian experts and IAEA inspectors who from time to time have acted as “a buffer” and defused some tense situations, Grossi said.

Persons: Rafael Grossi, Grossi, Ebrahim Raisi, ” “, “, ”, hasn’t, ” Grossi, Wang Yi, Wang, Said, “ I'm, Edith M, Lederer Organizations: UNITED NATIONS, General Assembly, International Atomic Energy Agency, Associated Press, Fukushima, IAEA, Foreign Locations: Ukraine, North Korea, China, Beijing, IRAN, Iran, Tehran, Vienna, United States, Ukraine's, Ukrainian, Russian, Pyongyang, “, Korea, South Korea, Fukushima, New York

Sept 18 (Reuters) - Maplebear Inc , the parent of grocery delivery app Instacart, disclosed on Monday it fetched a $9.9 billion fully diluted valuation after pricing its initial public offering (IPO) at the top of its indicated range. The IPO was priced at $30 per share after the company marketed it with a range of $28 to $30 per share. The IPO raised $660 million based on 22 million shares sold. Arm's fully diluted valuation has risen to $62 billion following three days of its shares trading. These investors include Norges Bank Investment Management, a division of Norges Bank, and entities affiliated with venture capital firms TCV, Sequoia Capital, D1 Capital Partners and Valiant Capital Management.

Persons: Instacart, Echo Wang, Rosalba O'Brien, Jamie Freed Organizations: Inc, Nasdaq, U.S, Klaviyo Inc, Norges Bank Investment Management, Norges Bank, Sequoia Capital, D1 Capital Partners, Valiant Capital Management, Sequoia, D1, PepsiCo, CVS, Thomson Locations: TCV, Sequoia, New York

[1/2] White House National Security Advisor Jake Sullivan speaks during a press briefing at the White House in Washington, D.C., U.S., September 15, 2032. REUTERS/Sarah Silbiger/File Photo Acquire Licensing RightsWASHINGTON/BEIJING, Sept 17 (Reuters) - White House national security adviser Jake Sullivan met with Chinese Foreign Minister Wang Yi in Malta this weekend, Beijing and Washington said on Sunday, as the world's two largest economies seek to stabilize troubled relations. Both sides held "candid, substantive and constructive" talks during multiple meetings held Sept. 16-17, according to separate statements from the White House and the Chinese foreign ministry published Sunday. China's foreign ministry said both sides agreed to maintain high-level exchanges and hold bilateral consultations on Asia-Pacific affairs, maritime affairs and foreign policy. Biden and Xi last met in 2022 on the sidelines of a G20 summit on Indonesia's resort island of Bali.

Persons: Jake Sullivan, Sarah Silbiger, Wang Yi, Wang, Joe Biden, Xi Jinping, Sullivan, Washington, Biden, Xi, Gina Raimondo, Antony Blinken, Janet Yellen, Steve Holland, Andrea Shalal, Laurie Chen, Jason Lange, Scott Malone, Will Dunham, Susan Fenton Organizations: White, National, Washington , D.C, REUTERS, WASHINGTON, White House, Foreign, Economic Cooperation, . Commerce, U.S, Thomson Locations: Washington ,, BEIJING, Malta, Beijing, Washington, Vienna, Asia, Pacific, Taiwan, United States, U.S, India, San Francisco, China, Bali

Klaviyo, which is seeking an $8 billion fully diluted valuation at the midpoint of its $25-$27 range, is in talks with its IPO underwriters about raising that range, the sources said. Klaviyo is the latest company to seek to raise its IPO price range. Grocery delivery app Instacart, which is also going public next week, raised its IPO price range on Friday to target a fully-diluted valuation of up to $10 billion. The chip designer floated on Nasdaq on Thursday at a $54.5 billion valuation and is now worth $65 billion, on a fully diluted basis. Grocery delivery app Instacart, which is also going public next week, raised its IPO price range on Friday to seek a fully-diluted valuation of up to $10 billion.

Persons: Klaviyo, Andrew Bialecki, Ed Hallen, Echo Wang, Anirban Sen, Diane Craft Organizations: Inc, underwriters, Arm Holdings, Nasdaq, BlackRock Inc, Thomson Locations: New York

The behind-the-scenes details on the IPO pricing decision are based on interviews with three people familiar with the discussions. Together with other previously unreported deliberations, they shed new light on why SoftBank took a conservative approach in valuing Arm in the IPO. SoftBank, which had owned 75% of Arm, agreed to buy the remaining 25% from its $100 billion Vision Fund at a $64 billion valuation last month. Representatives for Arm, SoftBank, PIF, Mubadala and Raine either declined to comment or did not immediately respond to requests for comment. VISION FUND BOUNCEBACKThe Vision Fund returned to profitability in the latest quarter thanks to investors' excitement around artificial intelligence boosting the value of some of the startups in which it invested.

Persons: Dado Ruvic, Masayoshi Son, Raine Group, Son, SoftBank, Fund's, Abu Dhabi's Mubadala, Raine, Didi Global, Echo Wang, Anirban Sen, Greg Roumeliotis, Christopher Cushing Organizations: REUTERS, SoftBank, Wednesday, Arm Holdings, Nasdaq, Vision Fund, Investors, Saudi Arabia's Public Investment Fund, Vision, Reuters, Nvidia Corp, Thomson Locations: San Francisco, New York, Mubadala, China, United States

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