Bloomberg Roku Inc.’s trading debut has catapulted it among the biggest gainers for newly listed technology and communications stocks as investors bet on the success of streaming video. The shares closed at a high on its first day of trading at $23.50, up 68 percent from its $14-a-share initial public offering price. That surpassed MuleSoft Inc.’s first day rise in ...

Bloomberg Toshiba Corp. signed a final agreement to sell its flash memory chip business to a group led by Bain Capital for about $18 billion, moving a step closer to completing the deal after months of contentious negotiations. The Bain consortium includes major technology players Apple Inc., Dell Inc., SK Hynix Inc. and Japan’s Hoya Corp., while Toshiba itself will ...

Bloomberg For 19 nonstop hours as Hurricane Irma lashed Florida, disc jockey Nio Fernandez broadcast updates in Spanish from the 92.5 Maxima radio studios in St. Petersburg, fielding updates from those trapped in their homes as wind and rain whipped through the area. “There was a sense of desperation in people’s voices,” he said of callers to the station. “They ...

Bloomberg Citigroup Inc. and the wreckage of Lehman Brothers Holdings Inc. have resolved a fight over $2.1 billion that dates to the financial crisis, while quietly burying a key question about derivatives-trading practices. Citigroup agreed that it will give back $1.74 billion to the estate of the failed New York-based investment bank. Citigroup had kept about $2.1 billion that Lehman ...

Bloomberg A former Barclays Plc trader who bragged about disrupting the western U.S. power market more than a decade ago dodged a $1 million fine by a US regulator for alleged manipulation. Ryan Smith convinced a federal judge in Sacramento, California, that the Federal Energy Regulatory Commission waited too long to bring its case against him for allegedly scheming with ...

Bloomberg HSBC Holdings Plc has been fined $175 million by the Federal Reserve after a long-running probe found that foreign-exchange traders had been front-running client orders, sharing confidential customer details with dealers at other firms and attempting to rig currency benchmarks. The Fed order detailed multiple instances of improper behavior, including allegations that traders may have conspired with counterparts at ...

Bloomberg The recent flood of cash into Indian stock funds is just the beginning, as the nation’s growing savings chase equity returns amid decreasing appetite for gold, property and fixed income, according to Morgan Stanley. “We’ve just started, the party has just begun,” said Ridham Desai, managing director at Morgan Stanley India Co. Pvt. The nation’s total financial savings are ...

Bloomberg Ethereum and bitcoin dropped after South Korea banned domestic initial coin offerings (ICOs) and margin trading in cryptocurrencies. The Financial Services Commission in Seoul said all forms of ICOs are prohibited in the country, including projects that share profits, rights, dividends, and other ‘coin-style’ offerings, according to a statement. The commission also banned practice of loaning funds to trade ...

Bloomberg Chinese offshore dollar bond issuance will reach as much as 80 percent of the Asia ex-Japan market in three to five years as buying support from the region grows and the country continues its reform drive, according to Goldman Sachs Asset Management LP. Issuers from China accounted for about 60 percent of dollar-denominated bonds priced in Asia excluding Japan ...

Bloomberg Citigroup Inc. applied for a backup license in France, hedging its bet on making Germany the headquarters for its new European Union broker-dealer after Brexit. Jim Cowles, the bank’s chief executive officer for Europe, the Middle East and Africa, told French newspaper Les Echos that the license is part of a plan to move positions across the continent. The ...