Business

Hiroki Takeuchi, co-founder and CEO of GoCardless. Zed Jameson | Bloomberg | Getty ImagesLISBON, Portugal — Financial technology unicorns aren't in a rush to go public after buy now, pay later firm Klarna filed for a U.S. IPO — but they're keeping a watchful eye on it for signs of when the market will open up again.Last week, Klarna made a confidential filing to go public in the U.S., ending months of speculation over where the Swedish digital payments firm would list. Timing of the IPO is still unclear, and Klarna has yet to decide on pricing or the number of shares it'll issue to the public.Still, the development drew buzz from fintech circles with market watchers asking if the move marks the start of a resurgence in big fintech IPOs. For now, that doesn't appear to be the case — however...

Hong Kong has been bracing for the outcome of the territory's largest ever national security trial for months.Forty-five pro-democracy activists have been sentenced with jail terms ranging from four years to ten years. They were accused of conspiracy to commit subversion after holding an unofficial primary election in Hong Kong in 2020. They were arrested in 2021.Hong Kong authorities say the defendants were trying to overthrow the territory's government.Democracy activist Benny Tai received the longest sentence of ten years. He became the face of the movement when thousands of protesters took to the city's streets during the "Umbrella Movement" demonstrations. However, Hong Kong officials accused him of being behind the plan to organise elections to select candidates.Tai had pleaded guilt...

Robert F. Kennedy Jr. attends a campaign event for Republican presidential nominee and former U.S. President Donald Trump in Milwaukee, Wisconsin, U.S. November 1, 2024. Joel Angel Juarez | ReutersDental care supplier Henry Schein advanced in Monday trading as investors bet that Robert F. Kennedy Jr., President-elect Donald Trump's pick for Health and Human Services secretary, could recommend removing fluoride from the U.S. water system, a move that would lead to a boom in dental visits.Shares of Henry Schein shares jumped about 7.5%, notching its best day since 2022. Fellow dental product makers Dentsply Sirona and Envista also rose in the session.Monday's moves come as investors ready for public health changes under a second Trump administration. Kennedy posted on X before the presidenti...

ServiceTitan offices in Draper, Utah.Google EarthServiceTitan, a company that sells software to contractors such as plumbers and roofers, on Monday filed to go public on the Nasdaq under the ticker symbol "TTAN."The filing suggests that investors could be getting more interested in next-generation software companies. Just a few, including Reddit and Rubrik, debuted on public markets in the U.S. this year, and chipmaker Cerebras filed for an initial public offering. There were basically no tech initial public offerings in 2021 or 2022 as central bankers pushed up interest rates to flight inflation, making investors less willing to bet on money-losing challengers.Based in Glendale, California, ServiceTitan offers cloud software for advertising, scheduling jobs, dispatching, producing invoice...

Hispanolistic | E+ | Getty ImagesCrypto investors could face higher taxes amid the surging price of bitcoin. But if you're in the 0% capital gains bracket, you can reduce future taxes with a lesser-known strategy, experts say. The tactic, known as tax-gain harvesting, is selling profitable crypto in a lower-income year. You can leverage the 0% long-term capital gains rate — meaning you won't owe taxes on gains — as long as earnings are below a certain threshold. The 0% bracket applies to assets owned for more than one year."That's a very effective strategy if you're in that bracket," said Andrew Gordon, a tax attorney, certified public accountant and president of Gordon Law Group.More from FA Playbook:Here's a look at other stories impacting the financial advisor business.The income limits...

President-elect Donald Trump gestures at the Bitcoin 2024 event in Nashville, Tennessee, on July 27, 2024.Kevin Wurm | ReutersTrump Media is in "advanced talks" to buy the cryptocurrency trading firm Bakkt, the Financial Times reported Monday, citing two people with knowledge of the talks.The news sent shares of both companies soaring.Trump Media, which is majority owned by President-elect Donald Trump, shot up by double digits minutes after the Financial Times report was published.The company, which operates the Truth Social app and trades on the Nasdaq as DJT, closed more than 16% higher.Shares of Bakkt — which was created by Intercontinental Exchange, the owner of the New York Stock Exchange — skyrocketed more than 162% amid repeated trading halts due to volatility.Kelly Loeffler, a pre...

It's hard to imagine much more upside for the current stock market, according to Bank of America. "The S & P 500 is statistically expensive on almost every metric," Savita Subramanian, the firm's equity and quant strategist, wrote Friday. "But this is hardly new news. On basic math, today's price to normalized EPS ratio of 27x implies 1% price returns [per annum] over the next decade." Of course, the index comprises "higher quality, less levered and more asset-light" companies than it has in the past, meaning the return forecasts when compared with prior decades are "likely too punitive," she noted. Regardless, Subramanian noted sentiment and positioning indicators have become "dangerously bullish" for the market, especially given possible risks around tariffs and higher bond yields th...

Charles Liang, chief executive officer of Super Micro Computer Inc., during the Computex conference in Taipei, Taiwan, on Wednesday, June 5, 2024. The trade show runs through June 7. Annabelle Chih | Bloomberg | Getty ImagesEmbattled server maker Super Micro Computer said on Monday that it's hired BDO as its new auditor and submitted a plan to Nasdaq detailing its efforts to regain compliance with the exchange. The shares jumped 23% in extended trading."This is an important next step to bring our financial statements current, an effort we are pursuing with both diligence and urgency," Super Micro CEO Charles Liang said in a statement.Super Micro is late in filing its 2024 year-end report with the SEC, and said earlier this month that it was looking for a new accountant after its previous a...

A mural promoting bicycle travel as a means to 'arrive happy' outside a Walmart Home Office location in Bentonville, Arkansas, US, on Monday, Nov. 21, 2022. Terra Fondriest | Bloomberg | Getty ImagesStocks @ Night is a daily newsletter delivered after hours, giving you a first look at Tuesday and last look at today. Sign up for free to receive it directly in your inbox.Here's what CNBC TV's producers were watching on Monday and what's on the radar for the next session.Walmart reports before the bellThe retail giant will be the big corporate report of Tuesday morning. The stock is up about 14% since last reporting three months ago. Walmart is 2% from the high it hit last week. The stock is up 60% in 2024. Target reports Wednesday. The stock is up nearly 9% in three months, and is 14% from i...

An undersea fibre optic cable between Germany and Finland has stopped working and might have been deliberately cut by an unknown party, according to authorities.The 729 mile (1,173km) C-Lion1 cable under the Baltic Sea from Helsinki to Rostock went offline just after 2am GMT on Monday. The outage was reported by Finnish state-controlled cyber security and telecoms company Cinia.A physical inspection has not yet been done but the abrupt nature suggests it was completely severed by an outside force, said chief executive Ari-Jussi Knaapila. Germany's foreign office said it was "deeply concerned" and it "immediately raises suspicions of intentional damage".A statement said: "Our European security is not only under threat from Russia's war of aggression against Ukraine, but also from hybrid war...