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Reuters | Equities.com |

JPMorgan is set to launch its big assault on British high street banks and online lenders from next week, with the launch of its long-planned digital retail bank Chase.

The venture — JPMorgan's first overseas retail bank — is set to launch its smartphone app initially offering current accounts on Tuesday, a JPMorgan spokesperson confirmed.


Reuters | Equities.com |

The editor-in-chief of state-backed Chinese newspaper Global Times warned debt-ridden property giant Evergrande Group that it should not bet on a government bailout on the assumption that it is "too big to fail."

It was the first commentary to appear in state-backed media casting doubt on a government bailout for the country's second largest property developer, whose shares fell on Friday for the fifth consecutive day amid concerns it is heading for default.


Kimberly Redmond | Equities.com |

Money remittance company Remitly Global Inc is seeking a valuation of nearly $7 billion in its US initial public offering (IPO).

In a filing Tuesday with the US Securities and Exchange Commission (SEC), the fintech said it plans to offer 7 million shares at a price range of $38 to $42 per share, with certain existing shareholders selling about 5.2 million shares.


Kimberly Redmond | Equities.com |

Intuit Inc (Nasdaq: INTU) announced Monday it will buy privately held digital marketing company Mailchimp for $12 billion in cash and stock, uniting the two providers of services for small businesses.

Intuit, best known for its popular financial software TurboTax and QuickBooks, said the acquisition will boost its offerings for businesses looking for ways to reach and service customers online.


Kimberly Redmond | Equities.com |

Customer support platform Freshworks Inc disclosed on Monday it is aiming for a valuation of up to $9 billion in its US initial public offering (IPO).

The California-based software-as-a-service (SaaS) startup said in a filing with the US Securities and Exchange Commission (SEC) it plans to sell 28.5 million shares at a price range of $28 to $32 per share.


Kimberly Redmond | Equities.com |

State Street Corporation (NYSE: STT) announced it has agreed to acquire the investor services business of investment bank Brown Brothers Harriman & Co’s (BBH) for $3.5 billion in cash.

Under the terms of the deal announced Tuesday, State Street will acquire BBH’s custody, accounting, fund administration, global markets and technology services operations.


Kimberly Redmond | Equities.com |

Toyota Motor Corporation (NYSE: TM) plans to spend more than $13.5 billion by 2030 on the development of next-gen batteries and production tooling as part of its push to capture a bigger share of the growing electric vehicle market.

On Tuesday, the Japanese automaker said it is working on technology to mass produce solid-state batteries, which Toyota believes will help spur EV production because they are more energy dense, charge faster and are less prone to catching fire than current technology.


Kimberly Redmond | Equities.com |

Hyundai Motor Group plans to become the first automaker to develop hydrogen fuel cell versions of all its commercial vehicle models by the year 2028.

On Tuesday, the South Korean automotive giant made the announcement as part of a new strategy, Hydrogen Vision 2040, which aims to achieve cost competitiveness for hydrogen fuel cells that is comparable to electric battery vehicles by 2030.


Reuters | Equities.com |

p> American Eagle Outfitters Inc's quarterly revenue missed estimates on Thursday as its online sales took a hit from shoppers returning to physical stores on easing pandemic curbs, sending the shares of the apparel chain down 10%.

The company's second-quarter digital sales fell 5% from a year earlier, also hit by stiff e-commerce competition from firms including Amazon.com Inc and Poshmark, although it remained higher compared with pre-pandemic levels.


Reuters | Equities.com |

Broadcom Inc forecast fourth-quarter revenue above Wall Street expectations on Thursday, betting on strong demand for its semiconductors from the adoption of 5G technology and a shift to hybrid work models.

Broadcom's efforts to diversify revenue by ramping up investments in its software business has insulated the company from being heavily impacted by supply chain disruptions.