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Bumper demand for Dr. Martens IPO values it at more than $5 billion By Reuters

By Simon Jessop LONDON (Reuters) - Classic boot brand Dr. Martens said it had priced its initial public offering at 370 pence a share, giving it a market value of 3.7 billion pounds ($5.08 billion) when it starts trading later on Friday. It will sell an additional 52.5 million shares on top of the initial 350 million shares sold, following heavy demand...

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Britain’s Boohoo in talks to buy Arcadia brands By Reuters

LONDON (Reuters) - British online fashion retailer Boohoo confirmed on Friday that it was in exclusive talks with the administrators of Philip Green's collapsed Arcadia group over the purchase of the Dorothy Perkins, Wallis and Burton brands. Boohoo, which on Monday bought the Debenhams brand out of administration for 55 million pounds ($75.4 million), said there was no guarantee the talks would...

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Robinhood Anger, Spending Data, Eli Lilly: 3 Things to Watch By Investing.com

By Liz Moyer Investing.com -- Stocks roared back on Thursday, with the Dow jumping triple digits, as the controversy over a group of retail traders who forced professional short-sellers into retreat continued. In a bit of positive economic news fourth-quarter U.S. gross domestic product grew at a 4% annual rate, the Commerce Department said.  Even though output fell 3.5% last year from 2019, economists...

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No Reprieve for Stocks in Malaysia as Virus Ravages Economy By Bloomberg

(Bloomberg) -- Things have gone from bad to worse for Malaysian stocks in the new year as the nation’s struggle to stem a surge in Covid infections deepens concerns about its economic revival. While optimism over vaccine rollouts and a post-pandemic recovery powered global equities to fresh records this month, the FTSE Bursa Malaysia KLCI Index, which lagged behind several Asian peers last...

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High Stakes as India Vows to Unveil a Budget Like ‘Never Before’ By Bloomberg

(Bloomberg) -- India will turn to Finance Minister Nirmala Sitharaman’s budget on Monday to see how she prioritizes spending to get the pandemic-ravaged nation back to being the world’s fastest-growing major economy. Sitharaman’s plan will likely rely on generous public spending to spur activity, putting more money in the hands of the average taxpayer to boost consumption and easing rules to attract investments...

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Huawei smartphone shipments plummet amid U.S. sanctions By Reuters

(Reuters) - China smartphone shipments slipped 4% in the December quarter, data showed, as shipments at Huawei Technologies Co Ltd plunged due to U.S. sanctions on the Chinese firm's chip and component suppliers. China market share for the company slumped to 22% from 38% in the year-ago quarter, data from research firm Canalys showed. The company remained the market leader, however, with...

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Thailand’s New Retail Investors Boost Stock Turnover to Record By Bloomberg

(Bloomberg) -- Thailand’s stock market has never been busier as a growing number of people join a global surge of individual traders chasing returns. Average daily trading turnover jumped to 99 billion baht ($3.3 billion) this month through Wednesday, set for a monthly record, according to data compiled by Bloomberg. Transactions by individuals this month made up about 46% of total trading, an...

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