1. Global markets in red
Stocks across global markets fell and bonds moved up as concerns of Covid-19 once again took hold of the market.
All major sectors in the U.S. market moved down led by financial and industrial companies. Airline and travel stocks also fell with the expectation of more restrictions around the country.
Stoxx Europe is down by 2.55%
Dow Jones is down 2.10%
NASDAQ is down 1.64%
2. Apple Agrees On iPhone Vulnerability To The Pegasus-Type Breaches
Ivan Krstic, the head of Apple Security Engineering and Architecture in a statement admitted that iPhones are vulnerable to Pegasus-type breaches. The company said such breaches are not a threat to a majority of its users as it targets specific individuals. Anyway, the firm is adding new protections for its devices and to safeguard the data on them.
3. The U.S Blames China For The Microsoft Exchange Email Hack
The U.S administration on Monday pointed at China for a Microsoft Exchange email server software hack that affected many computer systems around the world earlier this year. A tech war is already going on between the two countries and the new statement will be fueling it.
4. Kite Realty Group To Buy Retail Properties Of America For $2.8 Billion
The U.S realty firm, Kite Realty Group announced on Monday the plans to buy rival Retail Properties of America for about $2.8 billion(Rs 20,967 crores). Retail Properties’ stock will be converted into 0.6230 newly issued Kite Realty shares in an all-stock deal, at an offer price of $12.98 pe. The combined company is expected to have a market capitalization of about $4.6 billion(Rs 34,445crores).
5. Robinhood Targets $35 Billion Valuation In U.S. IPO
California-based Robinhood Markets is looking for a valuation of up to $35 billion(Rs 2,62,087 crores) by offering 55 million shares in the U.S IPO. The shares are expected to be priced in the range of $38 – $42. The company helps users to make unlimited commission-free trades in stocks, exchange-traded funds, options, and cryptocurrencies.
6. WallStreet Analysts Fear Economy has Peaked
With central banks tightening their monetary policies, and the spread of Covid-19 continuing, analysts at WallStreet now feel that markets have become too optimistic.
The strong rally from April 2020 has somehow overshadowed the growth numbers in results of key companies across the market.
7. PropertyGuru Near $1.8 Billion Merger With Peter Thiel SPAC
Singapore firm PropertyGuru is close to finalising a deal to go public through a merger with Bridgetown 2 Holdings, backed by billionaires Richard Li and Peter Thiel. This transaction could value the combined entity at about $1.8 billion(~Rs 13,330 crore)
Bridgetown 2, a special purpose acquisition company, raised about $300 million in a U.S. initial public offering in January and its shares were trading close to their listing price of $10 last week.
8. Bitcoin Miner Iris Said to Seek New Funds Ahead of U.S. Listing
Bitcoin miner Iris Energy Pty is planning to raise about $200 million in a new fundraising round before it seeks a direct listing on the Nasdaq, according to a person familiar with the matter.
The Sydney-based company, which uses renewable energy to produce the cryptocurrency, is working with an adviser on the round and has met with prospective investors, the person said.
9. Oil Refiners Hold Out for Price Cuts After OPEC+ Output Deal
Oil refiners in Asia stayed on the sidelines on Monday as they awaited price cuts to spot cargo offers after the OPEC+ deal to boost output.
Offers for Russian ESPO and grades such as Johan Sverdrup made late last week were expected to dip after the pact by the cartel, amid concerns over muted interest by Chinese private refiners and the spread of Covid-19’s delta variant.
10. Ubisoft Falls After The Delay In The Release Of Two New Games
Ubisoft reported the upcoming two games, Riders Republic and Tom Clancy’s Rainbow Six Extraction are expected to release on October 28 and in January next year respectively. This is the second delay for both the game releases, as they were expected to launch in February 2021 and November 2020 respectively. The stock fell more than 4% and at the time of writing its trading at 1.7% down in the Paris market.