A Nigerian Fintech Takes Its Loan Book to Wall Street
The prospectus OPay filed with the Securities and Exchange Commission contains a figure that would be unremarkable in Silicon Valley and startling in Lagos: 339.1 billion dollars of gross transaction…
Most of the S&P 500 Is Already in a Bear Market
The note that circulated on trading desks this week carried an uncomfortable title: Last Man Standing. Its author, Jonathan Krinsky, the chief market technician at BTIG, was describing a market…
A Memory Rally Meets a Chinese Rival and a Shelved Float
The selling started in Tokyo. Kioxia Holdings fell 13.3% on Tuesday to close at 15,180 yen, the sharpest one-day drop yet for a stock that had nearly quadrupled over the…
Hackers Raised French Supermarket Freezers to 50 Degrees
At an Intermarche in central Paris, staff spent Monday morning hauling carts of defrosted frozen food to a container in the street, with melted ice cream sloshing from broken tubs…
Two Banks Arrange an AI Loan They Won’t Back
The financing package for Volta Infrastructure Holdings totals $5.01 billion. JPMorgan Chase and Goldman Sachs assembled it, and between them they are willing to guarantee $1.3 billion of that amount.…
A Rare Miss at JPMorgan, and a Colder Quarter Behind It
JPMorgan Chase had not missed a quarterly revenue forecast since late 2023. On Tuesday the streak ended, and the number that broke it was not the one most investors were…
IBM Opens Its AI and Quantum Stack to India’s Deep-Tech Startups
IBM and the startup arm of India’s technology ministry signed a memorandum of understanding in New Delhi on October 13 that gives Indian deep-technology firms access to the company’s enterprise…
Oracle Offers a Power Bill Credit to Keep Its Data Center From Raising Rates
Oracle has proposed paying El Paso Electric $10 million a year for a decade and returning as much as $55 million a year to the utility’s customers for three years,…
Salesforce Buys Loops to Explain Why the Numbers Moved
Salesforce said on October 12 that it had signed a definitive agreement to acquire Loops, an Israeli company whose software watches a business’s key metrics and works out what pushed…
S&P Lifts Kioxia to Investment Grade as Memory Prices Climb
For most of its short life as a separate company, Kioxia Holdings was the debt-heavy remnant of Toshiba’s memory business, carrying debt from a buyout and the memory industry’s habit…
