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Video Game Company Roblox Files for IPO
The user-generated gaming platform, hugely popular with kids, has yet to turn a profit.
China’s Negative Yield Bond Gets Positive Response
The strong demand "shows investors are still underexposed to China and there definitely is a scarcity value perceived in these bonds"
FTC Says Fintech Startup Beam Misled Consumers
Beam allegedly made false promises to users of its app that it would provide them with 24/7 access to their funds and substantial interest rates.
Nasdaq to Buy Financial Fraud Detection Company Verafin
The $2.75 billion deal is the largest for the exchange since it acquired OMX in 2008 for $3.8 billion.
Norwegian Air Files for Bankruptcy in Ireland
The filing follows the decision of Norway’s government last week not to provide the low-cost airline with further financial aid.
U.S. Housing Starts Increase 4.9% in October
The housing market’s “momentum could slow amid a resurgence in new COVID-19 infections that is putting strain on the economic recovery.”
IBM to Buy Software Company Instana
The company said the move is part of its hybrid cloud and AI push.
Retail Sales Growth Slows to 0.3% in October
“It looks like consumer spending is increasingly turning into a headwind for this recovery from the worst economic downturn since the Great Depression."
Walmart’s E-Commerce Surge Continues in Q3
“We’re convinced that most of the [shift to online shopping] will persist beyond the pandemic," CEO Doug McMillon says.
Amazon Opens Online Pharmacy
“The news represents a disruption to the system and competitive threat that will likely shift scripts away from the retail channel.”
Airbnb IPO Filing Shows Rebound From Virus Shock
“Our business rebounded faster than anyone expected, and it showed that as the world changes, our model is able to adapt."
PNC to Buy BBVA’s U.S. Unit for $11.6B
The cash deal would be the second largest in the banking sector since the 2008 financial crisis.
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