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Shein Reportedly Files For IPO Amid Fast-Fashion Surge
Shein will be working with Goldman Sachs, JPMorgan Chase and Morgan Stanley as underwriters on the offering, the Wall Street Journal reported. The initial public offering could happen as soon as 2024, people with knowledge of the matter told CNBC and the Journal. Earlier this month, people familiar with Shein’s IPO intentions told Bloomberg the company hopes to get a valuation of around $80 billion or $90 billion.
EU states raise red flag over planned sanctions on Russia – Bloomberg EU member states are seeking to soften proposals by the European Commission, Bloomberg reports. The bloc's executive arm recently proposed curtailing exports to nations currently able to re-export goods from the bloc to Russia.
Some OpenAI engineers make as much as $800,000 and were key players in Sam Altman's return Sam Altman returned to OpenAI days after the company's board fired him. Hundreds of employees threatened to quit unless Altman was re-hired. Some of these staffers make as much as $800,000 per year, Bloomberg estimated.
Beijing is making its biggest move yet to patch up the property crisis threatening to blow up China's economy China is drafting a "white list" of property developers for bank financing, per Bloomberg. Beijing may let banks offer unsecured short-term loans to the developers on the list. They include embattled real-estate giant Country Garden and state-backed China Vanke.
OpenAI employees are making as much as $800,000 annually, per Bloomberg OpenAI staffers who threatened to quit over CEO Sam Altman's firing are making up to $800,000 per year, according to Bloomberg. The tech industry is known for high salaries, with many employees at firms including Meta, Google, and Amazon pulling in well over six figures annually.
TikTok to invest in Indonesia’s GoTo online retailer Tokopedia: report | Mint ByteDance Ltd’s TikTok is looking to invest in Indonesia-based GoTo Group's online-retail unit Tokopedia. Both the companies are in talks for a potential deal, said a report by Bloomberg. Shares of GoTo rose as much as 8.3% in Jakarta.
62,000 Barrel Gulf Oil Spill Is Worst Since Deepwater Horizon And 11th Largest In U.S. History Offshore production from major oil names like Occidental, W&T Offshore and Talos Energy has been shuttered following a spill that Bloomberg is calling the worst in the US "since the Deepwater Horizon disaster" If the magnitude of this spill is verified, it would mark the most substantial incident of its kind since 2010.
We ‘spit on sanctions’ – RT editor-in-chief The EU's efforts to block access to Russia's state-affiliated media have largely failed, Bloomberg has admitted. Such media outlets, including RT and Sputnik, remain readily available within the bloc through a system of mirror websites. Moscow has repeatedly condemned the hostile actions taken against Russian media.
China Picks 50 Developers For $138 Billion Gambit To Stem Real Estate Crisis Beijing announced the two-pronged approach over the past few weeks. Top-level political backing for financing equivalent to approximately 10% of annual new home sales. Bloomberg reports that Chinese regulators are quickly moving forward with the two projects.
UPDATE 1-US authorities set to unveil settlement with Binance -source The deal will include charges against individuals and resolve allegations of violations of the Bank Secrecy Act. The resolution would involve a large penalty with Binance, though the source did not specify the exact amount. On Monday, Bloomberg reported that the Justice Department was seeking$4 billionfrom the firm.
Democratic strategist Duane Baughman accused of sexual assault Petra C. Beter alleges Duane Baughman sexually assaulted her in 2001. She says she was picked up by a top Bloomberg campaign staffer three days after 9/11.
Sam Altman sought billions to fund a chip company that could rival Nvidia before he was fired, report says Ex-OpenAI CEO Sam Altman was reportedly seeking billions in funds for a new firm when he was fired.Altman was fundraising to build a rival to AI chip maker Nvidia, per Bloomberg.Investor talks are still in the early stages and the project is not yet formed.
Elon Musk's X typically took 7 hours to flag fake news: analysis Bloomberg analyzed nearly 400 posts that shared disinformation about the Israel-Hamas war. It reported Community Notes typically took 7 hours, and sometimes as long as 70 hours, to flag the posts.
CEO of world’s largest cryptocurrency exchange expected to plead guilty to money laundering violations Changpeng Zhao, CEO of Binance, is expected to plead guilty to money laundering violations. Binance has agreed to pay $4.3 billion in fines and other penalties, a second source tells CNN. Zhao, the founder and CEO, has amassed a fortune that Bloomberg pegs at more than $23 billion.
Could Altman Return? Ousted OpenAI Founder Reportedly In Reunion Talks—Despite Microsoft Deal Ousted OpenAI founder Sam Altman is in talks with board members of the artificial intelligence startup to potentially return, multiple outlets reported. The 38-year-old former CEO of the company could return as a director of a transitional board, one source told Bloomberg. Microsoft later announced it had hired Altman on a new artificial intelligence team.
Video Apple to release its Vision Pro Headset later than expected Apple to release its Vision Pro Headset later than expected Bloomberg reports that the company will need more time to test the mixed reality device.November 21, 2023
Stephen Ross shopping Dolphins, F1 race to investors Stephen Ross is exploring options to sell a minority stake in the Miami Dolphins, Hard Rock Stadium and the F1 Miami Grand Prix. Ross reportedly has been talking to multiple investors since earlier this year. Ross is worth $8.64 billion, according to Bloomberg, but Forbes pegs his net worth at $11.6 billion.
Tata Technologies IPO Pushes This Little-Known Tata Group Stock To An All-Time High On Monday, shares of Tata Investment Corp. surged as much as 17.65% to an intraday high of Rs 4,598.70 apiece. The stock’s trading volume was 27 times its 30-day average, Bloomberg data showed. Tata Technologies' IPO is set to launch from November 22nd–24th, 2023.
Sam Altman’s friends: Satya Nadella of Microsoft is certainly one of them Microsoft CEO Satya Nadella was blindsided by the board’s decision, according to people familiar with the situation. The Microsoft CEO reached out to Altman following the firing to offer him support in his next steps, people with knowledge of the situation told Bloomberg. Altman, a 38-year-old American entrepreneur, co-founded OpenAI in 2015.
Government reportedly considering real terms benefits cut in 2024 The Government is reportedly considering cutting benefits in real terms next year. The move would see it raise benefits by less than usual in a major blow for vulnerable households and families. Normally benefits rise by the CPI (consumer price index) inflation figure from the previous September, which this year was 6.7%. However, Bloomberg reports that ministers are considering using the October figure instead.
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