Fintech Chime Is Said to Plan IPO Launch as Soon as Monday
Chime Financial Inc. is planning to launch its initial public offering as soon as Monday, according to people familiar with the matter, as US listings bounce back from a disappointing April.
The no-fee banking services company is weighing a valuation of about $11 billion, one of the people said, asking not to be identified as the information isn't public. Chime was valued at $25 billion after raising $750 million in a funding round in 2021, according to an announcement at the time.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Wall Street Journal
9 minutes ago
- Wall Street Journal
Stocks to Watch Monday: Cleveland-Cliffs, Stellantis, Moderna
↗️ Cleveland-Cliffs (CLF), Steel Dynamics (STLD), Nucor (NUE): Shares of U.S. steelmakers jumped premarket after President Trump, speaking at a rally in Pittsburgh on Friday, said he would double tariffs on and steel and aluminum to 50%. ️↘️ Stellantis (STLA): Higher tariffs on imported metal could raise input prices for carmakers with U.S. factories. Stellantis, whose brands include Chrysler, Jeep and Ram, fell premarket. ↗️ Moderna (MRNA): The drugmaker said the FDA had approved a new Covid-19 vaccine for use by people aged 65 or above.
Gizmodo
10 minutes ago
- Gizmodo
Download CrossOver for macOS and Linux
The main attraction of CrossOver goes beyond its capability to execute Windows applications, according to users. The application operates in such a way that users feel like they never disconnected from their Mac or Linux environments. You're not creating virtual machines. There's no need for a computer reboot when you require a specific app through this software. The software enables you to maintain your position on your macOS or Linux desktop while gaining access to programs that were previously unavailable to you. Few professionals working across diverse environments will find this significant benefit particularly helpful. Your primary computer operates with Mac, but you require an accounting software that functions exclusively on Windows. If you switched to Linux, then your preferred design application does not provide support for your new operating system. The design of CrossOver allows users to avoid making sacrifices with their software choices. You can experience dual functionality since CrossOver operates between macOS and Linux desktops through a single interface. The several years of development have made the platform solid, so it remains resistant to breakage. About 75% of standard applications Americans wish to operate on have undergone testing, and developers have simplified the installation process with basic click commands. Simplicity stands out as the key distinguishing fact of this particular product. For decades, Wine demonstrated complete power while maintaining requirements that demand technical abilities. The sophisticated, complex functions of the program remain hidden behind an elegant user interface provided by CrossOver. The system functions best without needing to understand how everything operates within the program code. The application selection process is simple since you just need to choose the desired app to install, then watch CrossOver execute all operations automatically. Softness in user experience activates two significant benefits: first, it reduces the amount of time required to complete actions, and secondly, it conserves precious energy for other tasks. The process requires no debugging activities or searches on online forums. Moving forward with your work process just requires you to launch your selected software. Managers who work with productivity tools combined with older software or games without native system compatibility will experience a total shift in their work process because of this access method. The software removes the ongoing platform battle between different operating systems. It reduces friction. Open-source foundations enable this platform, while the provider delivers support through regular updates along with technical assistance that users need. The stable, practical functionality of CrossOver provides an excellent program solution for developers and gamers and business owners, and strictly functional users who require particular software without damaging their system operations.
News24
15 minutes ago
- News24
Market fall-out as Trump doubles steel, aluminium tariffs
• For more financial news, go to the News24 Business front page. Shares in South Korean and Vietnamese steelmakers, major Asian exporters of the metal to the United States, dropped on Monday after US President Donald Trump said he would double tariffs on imported steel and aluminium to 50%. Trump announced on Friday the new steel and aluminium levies, which take effect on June 4, intensifying a global trade war just hours after he accused China of violating an agreement with the US to mutually roll back tariffs and trade restrictions for critical minerals. Steel industry experts said while the increased tariff would cause significant disruption for major exporters to the US, the rates could go down in light of some of Trump's trade policy reversals. "Frequent shifts in the Trump administration's tariff policies introduce considerable uncertainty regarding the actual impact ... I think the final result will be far lower than initially projected, especially concerning its duration," said Chelsea Ye, senior analyst at metals research firm McCloskey. South Korea's Industry Ministry said on Monday it will respond to the 50% tariff on steel products as part of its trade discussions with Washington in order to minimise the impact on industry. South Korea was the fourth-biggest exporter of steel to the United States last year, behind Canada, Mexico and Brazil, according to American Iron and Steel Institute data. South Korea's Industry Ministry said in a statement that it had held an emergency meeting with officials from the country's major steelmakers, including POSCO and Hyundai Steel . Shares of South Korean steelmakers lost ground on Monday, with POSCO and Hyundai Steel falling 3% and SeAH Steel Corp down 6.3% in morning trade. In Vietnam, major steelmakers Hoa Sen Group and Nam Kim Steel fell 2.8% and 3.4% respectively. Vietnam Steel Corp also fell 2.7%. Vietnam's exports of steel and steel products to the U.S. fell 27% in the first four months of this year, government data showed. The 50% tariffs will add to the challenges facing Korean steel exporters, which have refrained from sharply boosting exports to the US to avoid Washington's scrutiny, despite rising US steel prices, an industry executive told Reuters. "It will be a burden to exporting companies, if there are no additional steel price increases in the U.S," he told Reuters, asking not to be identified due to the sensitivity of the issue. Despite tariffs, South Korea's steel shipments to the United States rose 12% in April from a year earlier, according to trade data. Steel and aluminium tariffs were among the earliest Trump imposed when he returned to office in January. The tariffs of 25% on most steel and aluminium imported to the US went into effect on March 12. Industry officials said the tariffs have increased US steel prices, affecting several sectors, including home appliances, cars, and construction. Trade talks South Korea, a major US ally, has called for an exemption from tariffs on steel, autos and others items, during talks with the United States. Seoul agreed in late April to craft a trade package by the end of the 90-day pause on Trump's reciprocal tariffs in July, but it has been difficult for negotiators to make big decisions due to a political leadership vacuum ahead of elections on Tuesday. In late March, Hyundai Steel announced a plan to build a $5.8 billion factory in Louisiana in response to US tariffs, but the factory will not open until 2029. In April, Hyundai Steel's bigger rival POSCO signed a preliminary deal to make an equity investment in the factory project. In India, which relies heavily on the US for aluminium exports, industry experts also warned of a major hit. "This is going to have a detrimental impact," B.K. Bhatia, director-general at the Federation of Indian Mineral Industries, the country's leading mining body, told Reuters. "The US is the biggest market for Indian aluminium. Government has been negotiating so we are hopeful that with talks, the tariffs will come down." The US is the world's largest steel importer, excluding the European Union, with a total of 26.2 million tons of imported steel in 2024, according to the Department of Commerce. As a result, the new tariffs will likely increase steel prices across the board, hitting industry and consumers alike. "The latest hike will prompt these sellers to renegotiate with their US buyers on how to and who will shoulder the extra 25% cost," said Thaiseer Jaffar, founder of Dubai-based steel industry event organiser Global Steel Summit.
