Business

Business

Robinhood expands offering that allows retail investors to buy into IPOs

Online brokerage Robinhood Markets Inc (HOOD.O) said on Wednesday it would allow companies issuing shares through its IPO Access platform to set aside some stock for members of the public with ties to the issuers. Directed Share Programs (DSPs), which Robinhood refers to as its “friends and family” offering, allows employees, customers, vendors, or others […]

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Business

Amgen CEO says U.S. Medicare out-of-pocket cap will improve access

A proposed cap on out-of-pocket drug costs for Medicare recipients would improve patient access, but allowing the U.S. government health plan for seniors to negotiate prices could limit innovation, Amgen Inc (AMGN.O) Chief Executive Robert Bradway said in an interview. “We need to make sure to be very careful not to destroy the very system […]

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Business

Apple’s software boss warns against draft EU policy on App Store

Apple (AAPL.O) software boss Craig Federighi took the stage at the Web Summit in Lisbon to voice the iPhone maker’s objections to EU draft guidelines that could allow customers to install software from outside its App Store. Apple contends that such a move would make phones the target of malware or hijacking by cybercriminals and […]

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Ether firms following U.S. Fed, hits record high; bitcoin trails

Ether, the world’s second-largest cryptocurrency, hit an all-time high on Wednesday, catching up with bitcoin’s rally and riding on news of wider blockchain adoption. The ether token, which underpins the ethereum blockchain network, rose as high as $4,670.81, as of 3:15 p.m. EDT. The cryptocurrency extended its gains, breaching the previous day’s $4,600 level, after […]

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Business

Sun Life Q3 profit climbs from year ago on new business, AUM growth

Sun Life Financial (SLF.TO) on Wednesday beat analyst estimates for third-quarter core profit, which rose from a year earlier due to a rise in new business and as assets under management increased from a year earlier. Underlying profit at Canada’s second-largest life insurer was C$902 million ($728 million), or C$1.54 a share, in the three […]

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Business

Albemarle boosts 2021 forecast on rising global lithium demand

Albemarle Corp (ALB.N), the world’s largest producer of lithium for electric vehicles, boosted its 2021 sales forecast on Wednesday after posting an adjusted third-quarter profit that easily beat Wall Street’s expectations. The company’s stock rose 4.1% to $272.80 in after-hours trading following the results. Demand for lithium and other EV minerals has jumped in recent […]

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Business

Bed Bath & Beyond share surge reignites interest in GameStop, AMC

Shares of Bed Bath & Beyond Inc (BBBY.O) jumped 15.22% on Wednesday as news of an accelerated share buyback plan and tie-up with Kroger Co (KR.N) reignited the interest of retail investors in the heavily shorted stock. The home products maker was tethered to the meme stocks phenomenon this year, where individual investors coordinated in […]

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