China’s Xiaomi Corp priced its Hong Kong initial public offering (IPO) at the bottom of an indicative range, raising $4.72 billion in the world’s biggest tech float in four years, people close to the transaction said on Friday. That values the firm at about $54 billion, almost half the valuation industry insiders touted at the […]
Read moreEgyptians are mourning the exit of their country’s national team from the World Cup soccer tournament following a 2-1 loss to Saudi Arabia this week. But there’s a silver lining, according to Egyptian-American economist Mohamed El-Erian. Egypt’s experience at this year’s FIFA tournament — its first World Cup qualification in 28 years — holds important […]
Read moreCurrency, United States Finance
European leaders reach migration deal after marathon overnight meeting
European leaders have hashed out a deal on migration that has satisfied the Italian government’s hardline approach and potentially staved off the potential collapse of Angela Merkel’s coalition in Germany. Several European leaders had told CNBC ahead of the marathon overnight meeting that they were not optimistic about reaching a deal. But in the early […]
Read moreGerman meal-kit delivery firm HelloFresh may start selling ready-made meals to tap into demand from consumers who prefer not to cook, co-founder Thomas Griesel told a German newspaper. HelloFresh, which competes with U.S. rival Blue Apron , delivers pre-packaged meal ingredients aimed at making home cooking more accessible. “We see a very big market niche […]
Read moreCurrency, United States Finance
European markets seen higher after EU migration deal; trade fears linger
European stocks are set to open higher Friday morning, although underlying sentiment was soured by anxiety over ongoing global trade frictions. The FTSE 100 is seen 40 points higher at 7,651; the CAC is expected to open up around 39 points at 5,308, while the DAX is poised to start 103 points higher at 12,261, […]
Read moreTesla will “quite likely” be able to produce 5,000 Model 3s per week by the end of June, CEO Elon Musk has said. That deadline has nearly arrived, but Ross Gerber, the president and CEO of Gerber Kawasaki wealth and investment management, told CNBC that the exact figures are not an issue. “I think that […]
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Xiaomi, founded just eight years ago in Beijing, quickly became a global tech juggernaut. It’s currently the fourth-biggest smartphone player in the world, according to market researcher International Data Corporation. While that’s a significant position, it at one point occupied the third-place spot, behind Apple and Samsung, before ceding that to fellow Chinese firm Huawei. […]
Read moreAs the United States increasingly confronts China over trade and turns away from decades of championing lower tariffs, Beijing is seen getting a boost from its globe-spanning — and heavily marketed — investment program. China’s Belt and Road Initiative is a massive infrastructure project that covers more than 80 countries, claims to seek the revival […]
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