By Aditya Kalra NEW DELHI (Reuters) – Indian food delivery giant Swiggy has slashed its IPO valuation again, to $11.3 billion, 25% below the initial goal of $15 billion as market volatility and the lacklustre debut of Hyundai India weigh on sentiment, two sources said on Sunday. BlackRock and Canada Pension Plan Investment Board (CPPIB) will invest in the $1.4 billion IPO, which will be the country’s second-biggest stock offering this year, the sources told Reuters. Swiggy, Blackrock and CPPIB did not immediately respond to requests for comment outside business hours. Indian shares have fallen for four weeks in a…
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Quebec — La Belle Province — has experienced a significant uptick in mergers and acquisitions (M&A) deal activity among small-cap companies since early autumn. To date, private equity firms and strategic investors have acquired several Quebec-based companies at healthy premiums. What do they know that other investors don’t? For some time, my colleagues and I have been beating the drum in our commentaries and webinars about the value that the current gulf between the intrinsic value and market prices of some of these Quebec-based companies represents. There are appealing risk/reward attributes and the potential for high future returns at bargain…
CNN — Not all that glitters is gold, but the value of the precious metal has been surging this year. Gold prices have broken record after record, rising more than 30% in 2024 while hitting an all-time high of $2,748.23 this week. The Federal Reserve’s recent dramatic half-point interest rate cut, geopolitical tensions and economic uncertainty surrounding the US presidential election have created the conditions for prices to soar. The rally has been boosted by the central banks of China, India and Turkey easing their reliance on the US dollar as well as retail giant Costco stocking 1-ounce bullion bars.…
Disregarding politics has worked brilliantly in the United States for a century. But market history offers comfort only up to a point, our columnist says. Source link
(Bloomberg) — A week before Federal Reserve officials gather to reflect on the appropriate tempo of interest-rates cuts, three high-profile reports are set to show underlying resilience in the US economy and a temporary hiccup in job growth. Most Read from Bloomberg Friday’s employment report, expected to show a modest 110,000 increase in payrolls — about half this year’s average gain of 200,000 — will reflect hits to the labor market from two hurricanes as well as a work stoppage at aircraft maker Boeing Co. The unemployment rate is forecast to hold at 4.1%. Economists expect Fed policymakers to discount…
When I was a teenager, I bought my first car. It was a Toyota Tercel with a few hundred miles on it and cost less than $10,000. Granted, this was 30 years ago.Now that I have a daughter turning 17, I envisioned a similar scenario. She has worked — and saved — since the age of 13, and I assumed she could at least pitch in for a reasonably priced pre-owned model.But, boy, has the used car market changed. For starters, prices have increased enormously.Anyone who has stayed away from the car market in recent years is in for a…
According to a 2016 report, reaching the global decarbonization targets ratified in the Paris Climate Agreement will require the world to quit coal completely by 2050. But that’s not all – rich nations will have to phase out the dirtiest fossil fuel by 2030, and China by 2040, in order to stay on a cost-effective and feasible pathway to keep global warming below 2°C. These figures come from a report, Implications of the Paris Agreement for Coal Use in the Power Sector, funded by the European Climate Foundation (ECF). “Science shows that the easiest way to meet our Paris commitment to…
Nvidia has turned out to be an outstanding investment in the past decade, as shares of the company have shot up a whopping 32,600% during this period and outpaced the 207% gains clocked by the S&P 500 index. So, an investment of just $3,500 made in shares of Nvidia a decade ago is now worth just over a million dollars. NVDA Chart NVDA data by YCharts. Nvidia, therefore, has turned out to be a millionaire-maker stock over the past 10 years, assuming someone put $3,500 into its shares at that time and never sold. However, as the chart above shows, the…
Understanding Passive Income Passive income can be a great way to generate some extra cash and supplement regular earnings from your job. If you’re interested in passive income, stay away from “get rich quick” schemes found among search results for the term online. Cheng suggests you stay mindful of some common misconceptions about passive income. “People often underestimate the initial costs of a passive income opportunity and as a consequence may not have adequate liquidity,” she said. Cheng gave some examples: “With a franchise, there are certain fixed costs that people will incur before they can experience positive cash flow.”…
The S&P 500 (SNPINDEX: ^GSPC) is the most widely followed index in the U.S., representing the 500 largest companies in the country. Given the breadth of companies that make up the benchmark, many consider it the most dependable measure of total stock market performance. To qualify for membership in the S&P 500, a company must meet the following prerequisites: Be based in the U.S. Have a market cap of at least $8.2 billion A minimum of 50% of its outstanding shares must be available for trading Must be profitable on a GAAP basis in its most recent quarter In aggregate,…