Updated version at 8.00 am
The highlighted words in red are links to the news article.
May 28, 2021,
- US Federal Reserve’s reverse repurchase (RRP) facility hit an all-time high of US$485 billion, further pressuring key short-term interest rates, which risk falling below zero.
- Asian stocks look set to rise after solid data and President Joe Biden’s federal spending plans spurred a rally in U.S. cyclical shares while Treasury yields also climbed.
- Salesforce shares rose 5% in extended trading after the cloud software maker issued earnings and guidance that surpassed analysts’ expectations.
- Britain is rushing out rules to make London’s stock market attractive for SPAC listings, as bankers ready a string of potential floats in Europe as interest in the US fades.
- HSBC exiting from US mass market retail banking, a long-awaited move as the lender steps up focus to Asia, its biggest market.
- According to company’s filings, Softbank Group’s bank borrowing climbed by 42% in the year to March-end with the increase shouldered by foreign lenders.
- Klarna, a European buy-now-pay-later company, is close to securing a new funding round at a valuation of more than $40 billion, backed by SoftBank.
- Berlin-based Ada Health, which has developed a doctor-in-your-pocket style app that uses artificial intelligence to try to diagnose symptoms, raised a $90 million funding round, led by Samsung and Bayer.
- Paytm, India’s leading digital payments provider, aims to raise about US$3 billion in an initial public offering late this year, led by Berkshire Hathaway Inc, SoftBank Group Corp and Ant Group Co, in what could be the country’s largest debut ever.
- MiCare raises US$60 million from IFC, Mitsui Asia, for SEA expansion as well as setting HQ in Singapore.