(Corrects paragraph 8 of Oct. 9 story to say Trump administration officials, not Trump, are considering the move)

FILE PHOTO: An employee stands next to the logo of Ant Financial Services Group, Alibaba’s financial affiliate, at its headquarters in Hangzhou, Zhejiang province, China January 24, 2018. REUTERS/Shu Zhang/File Photo

SHANGHAI (Reuters) – Five newly launched Chinese funds targeting Ant Group’s upcoming mega stock listing raised 60 billion yuan ($8.93 billion) cumulatively from more than 10 million retail investors, selling out within days, the funds’ distributor said.

An average of eight investors placed orders each second during the subscription period, highlighting retail frenzy over Ant’s initial public offering (IPO) despite possible U.S. sanctions against the Chinese fintech giant.

The rush also underscores the marketing clout of Ant’s online payment platform Alipay, the sole third-party distributor of the five mutual funds that threatens to disrupt traditional fund sales models.

Ant, Alibaba Group’s

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Twice over the past two weeks, ExxonMobil
XOM
has made headlines for all the wrong reasons.

Last week the utility NextEra Energy
NEE
surpassed the market capitalization of ExxonMobil to replace it as the largest U.S. energy company.

This week, there was another milestone. At some points over the past decade, ExxonMobil — the biggest of “Big Oil” in the U.S. — was worth as much as $225 billion more than Chevron
CVX
. That size advantage totally disappeared on October 8, 2020, when Chevron’s value closed the day higher than ExxonMobil’s.

If you look at the chart,

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a man holding a sign: A banner for communications software provider Twilio Inc., hangs on the facade at the NYSE to celebrate the company's IPO in New York City


© Reuters/Brendan McDermid
A banner for communications software provider Twilio Inc., hangs on the facade at the NYSE to celebrate the company’s IPO in New York City


(Reuters) – Cloud communications platform provider Twilio Inc plans to buy customer data infrastructure company Segment for $3.2 billion, Forbes reported on Friday.

The deal, which had not been finalized as of Friday afternoon, was expected to be at least partially based on Twilio stock, the report added, citing two sources it did not name.

San Francisco-based Segment has recently been open to acquisition offers, according to the report.

Twilio declined to comment to Reuters. Segment was not immediately available for comment outside regular business hours.

Segment raised $175 million in a Series D funding round in April 2019. The startup said in September that it worked with more than 20,000 businesses including Intuit, FOX and Levi’s, employing more than 550 people.

Cloud

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LONDON, Oct 9 (Reuters)Bond funds saw the second-largest weekly inflows ever of $25.9 billion, BofA said on Friday, as the market continues to price in a Democratic sweep in next month’s presidential election, which could mean even more fiscal stimulus.

“Blue wave election outcome (Democrats winning) has curiously flipped from consensus bear to bull catalyst in recent months,” the U.S. investment bank said.

Equity funds attracted $4.4 billion, mainly driven by U.S. equities, BofA said. Government and U.S. Treasury bond funds sucked in $3.8 billion, the largest inflows in 14 weeks, in the week to Oct. 7.

The bank also highlighted the likelihood of renewable energy stocks front-running a Democratic election sweep that was followed by a fiscal stimulus, pointing to one solar energy exchange traded fund’s stellar performance.

Invesco solar ETF TAN.P soared 255% from its March lows and has gained 42% in the last month alone.

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Morgan Stanley


MS 0.60%

said it is buying fund manager

Eaton Vance Corp.


EV 48.14%

for $7 billion, continuing the Wall Street firm’s shift toward safer businesses like money management.

Its pivot mirrors a broader shift in power and profits on Wall Street. The trading profits of the 2000s are long gone, sapped by new regulations and shifting investor preferences. Asset management, which produces steady fees and requires little capital to run, has become a priority for banks including

Goldman Sachs Group Inc.

and

JPMorgan Chase

& Co.

Morgan Stanley is a midsize player in that space, too small to reap the cost savings of being a giant like

BlackRock Inc.

but too big to credibly style itself a boutique. By acquiring Eaton Vance, it will join the club of $1 trillion money managers and bulk up in specific products where it is weaker, such as municipal bonds and sustainable

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NEW DELHI, Oct. 7, 2020 /PRNewswire/ —

“Global Bispecific Antibody Market Opportunity, Drug Sales & Clinical Trials Insight 2026” Report Highlights:

  • Global Bispecific Antibody Market Opportunity:  > US$ 10 Billion
  • Global Bispecific Antibody Market Growth:  118% CAGR (2015 -2019)
  • Global Bispecific Antibody Market Growth In 2019:  280% (> US$ 1.5 Billion)
  • Global Bispecific Antibody Pipeline:  333 Drug
  • Commercially Available Bispecific Antibodies: 2 (Blincyto & Hemlibra)
  • Hemlibra Sales & Market Share 2019: > US$ 1.4 Billion & > 80%

Download Report:

https://www.kuickresearch.com/report-global-usa-europe-japan-bispecific-antibody-antibodies-therapeutics-therapy-market-sales-size–trends-clinical-trials-emicizumab-hemlibra-blincyto–blinatumomab-sales

Despite having several hundred clinical success stories of different immunotherapies against solid and advanced cancers, the overall response rate of the patients has reached approximately 50% even when the patients fit completely under all the criteria of treatment. To pave with the clinical failures, researchers have developed and evaluated bispecific therapeutic antibodies, that are combination of two binding specificities leading to improve selectivity as well as efficacy

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Video: Drahi Gets Investor Complaint Over Bid to Take Altice Private (Bloomberg)

Drahi Gets Investor Complaint Over Bid to Take Altice Private

UP NEXT

UP NEXT

By Philip George



a man standing in front of a blue box: A shareholder arrives for the TCS annual general meeting in Mumbai


© Reuters/Vivek Prakash
A shareholder arrives for the TCS annual general meeting in Mumbai


BENGALURU (Reuters) – Tata Consultancy Services said on Wednesday it would buy back shares worth up to 160 billion rupees ($2.18 billion), and reported a fall in quarterly profit as it set aside 12.18 billion rupees to cover legal fees related to a U.S. lawsuit.

The company also named Samir Seksaria as its chief financial officer, choosing the over two-decade veteran of India’s top software exporter to replace V. Ramakrishnan who will retire in April next year.

TCS said it would buy back up to 53.3 million shares at 3,000 rupees per share, a 9.7% premium to its stock’s closing price on Wednesday.

“The timing of

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Private equity investments in India hit a record high of $28.66 billion till September end this calendar year, significantly over the $16.27 billion invested in entire 2019. In 2018, PE investments stood at $10.8 billion.

Although PE investments in volume terms have seen a huge surge so far in 2020, there has been a drop in the number of deals, which came in at 560 so far this year as against 663 in entire 2019, data available with Refinitiv, a global provider of financial markets data, showed. In the last four years including 2020, the total PE investments have touched nearly $70 billion.

The strong showing in PE investments so far in calendar 2020 was driven by flows into Jio Platforms at $15.34 billion, according to Refinitiv. The next highest was for Tower Infrastructure Trust at $3.4 billion followed by Flipkart Online Services at $1.2 billion.

 

There was huge bump

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BANGALORE, India, Oct. 6, 2020 /PRNewswire/ — According to the Latest Market Research Report “Online Dating Market on the Basis of Services (General Online Dating Services, Merging Online Dating Services, Niche Online Dating Services, Relationship Services, and Social/Event Networking Sites), Basis of Age Group (18 to 24 Years, 25 to 34 Years, 35 to 44 Years, 45 to 54 Years, and 55 to 64 Years) Basis of Product (Apps and Website) Basis of Subscription (Non-Paid Online Dating Services and Paid Online Dating Services) and Based on Region – Global Forecast to 2025“, published on Valuates Reports

The Global Online Dating Market Size is expected to grow from USD 2.230 Billion in 2019 to USD 3.592 Billion by the end of 2025 at a Compound Annual Growth Rate (CAGR) of 8.26%.

In 2020, revenue growth for the dating services industry is likely to see substantial increases,

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text: The Ant Group Co. logo and the Alibaba Group Holding Ltd. logo are displayed behind a reception desk at the company's headquarters in Hangzhou, China, on Monday, Sept. 28, 2020. Jack Ma's Ant Group is seeking to raise $17.5 billion in its Hong Kong share sale and won't seek to lock in cornerstone investors, confident there will be plenty of demand for one of the largest equity deals in the financial hub, according to people familiar with the matter.


© Bloomberg
The Ant Group Co. logo and the Alibaba Group Holding Ltd. logo are displayed behind a reception desk at the company’s headquarters in Hangzhou, China, on Monday, Sept. 28, 2020. Jack Ma’s Ant Group is seeking to raise $17.5 billion in its Hong Kong share sale and won’t seek to lock in cornerstone investors, confident there will be plenty of demand for one of the largest equity deals in the financial hub, according to people familiar with the matter.

Singapore’s sovereign wealth fund GIC Pte plans to invest more than $1 billion in Ant Group’s mega initial public offering as early investors look for a bigger slice of the Chinese payments behemoth, according to people familiar with the matter.

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GIC and Singaporean state investor Temasek Holdings Pte are considering participating

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