Rupert Murdoch stepping down from Fox and News Corp
Murdoch’s eldest son Lachlan will take over in November.
Shares
Arm, the largest IPO of the year, explodes 17% in first day of trading
The largest IPO in 22 months, Arm opened with a $54.5 billion market capitalization.
Birkenstock files for IPO two years after its $4.3 billion acquisition
The IPO could be valued at more than $8 billion, according to Bloomberg,
Larry Ellison’s net worth drops nearly $20 billion as Oracle stock has worst day in decades
Ellison’s software company suffered its worst day on the stock market since 2002 on Tuesday.
How udon noodles made Japanese college dropout a billionaire
Takaya Awata, founder and CEO of Tokyo-listed Toridoll Holdings, best known for its popular udon noodle restaurants, has joined the ranks of billionaires.
Roger Federer-backed shoe brand on takes a big swing at tennis
With $1 billion in sales and a stable of players that includes No. 1-ranked Iga Swiatek and young American star Ben Shelton, the surging Swiss running shoe company wants to become a tennis powerhouse. But first, they need a sneaker.
Robinhood shares jump after buying back Bankman-Fried’s $605m in seized shares
Robinhood’s shares, which had been slumping in recent weeks, shot up after it announced it bought more than $605 million in shares that had previously been controlled by Sam Bankman-Fried.
A $43 billion value investor’s winning formula for buying unloved foreign stock
Sarah Ketterer’s Causeway Capital is trouncing the competition using a mix of quantitative and fundamental analysis to find bargains among European stocks like Rolls-Royce and Ryanair.
Foot Locker shares plummet 33% after sales decline
The company attributed a dip in comparable sales to “consumer softness.”
Nvidia stock hits all-time high after 315% surge – easily outpacing its peers
Led by the “godfather of AI,” Nvidia is expected to report a quadrupling of EBITDA this quarter.