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With millions of people across five continents experiencing scorching heat last month, the European Union's (EU) climate agency, Copernicus <keyword id="19907392" type="General" weightage="20" keywordseo="climate-change" source="keywords">Climate Change</keyword> Service (C3S), confirmed on Monday that June was the warmest on record. It also marked the 12th consecutive month of <keyword id="20524196" type="General" weightage="20" keywordseo="global-temperatures" source="keywords">global temperatures</keyword> reaching <keyword id="22325521" type="General" weightage="20" keywordseo="1-5-degrees-Celsius" source="keywords">1.5 degrees Celsius</keyword> above the pre-industrial average. According to scientists at C3S, every month since June last year has been the warmest such month on record. In January, the world completed an entire year with the mean surface air temperature exceeding the 1.5-degree Celsius threshold. June was the 12th consecutive month with monthly average temperatures above the 1850-1900 pre-industrial average. At the 2015 UN climate talks in Paris, world leaders committed to limiting the global average temperature rise to 1.5 degrees Celsius above the pre-industrial period to avoid the worst impacts of climate change. However, a permanent breach of the 1.5-degree Celsius limit specified in the <keyword id="20104670" type="General" weightage="20" keywordseo="Paris-Agreement" source="keywords">Paris Agreement</keyword> refers to long-term warming over a 20 or 30-year period. Earth's global surface temperature has already increased by around 1.2 degrees Celsius compared to the average in 1850-1900 due to the rapidly-increasing concentration of <keyword id="20649149" type="General" weightage="20" keywordseo="greenhouse-gases" source="keywords">greenhouse gases</keyword> -- primarily carbon dioxide and methane -- in the atmosphere. This warming is considered to be the reason behind record droughts, wildfires and floods worldwide. According to new data, June 2024 was the warmest on record, with an average surface air temperature of 16.66 degrees Celsius, 0.67 degrees Celsius above the 1991-2020 average for the month and 0.14 degrees Celsius above the previous high set in June 2023. "The month was 1.5 degrees Celsius above the estimated June average for 1850-1900, the designated pre-industrial reference period, making it the 12th consecutive month to reach or break the 1.5-degree threshold," C3S said in a statement. It was also the 13th consecutive month of <keyword id="21477127" type="General" weightage="20" keywordseo="record-high-temperatures" source="keywords">record-high temperatures</keyword>, a result of the combined effect of the 2023-24 El Nino event and human-caused climate change. While unusual, a similar streak of monthly global temperature records happened previously in 2015-16. "This is more than a statistical oddity and highlights a large and continuing shift in our climate. Even if this specific streak of extremes ends at some point, we are bound to see new records being broken as the climate continues to warm. This is inevitable, unless we stop adding greenhouse gases into the atmosphere and the oceans," said Carlo Buontempo, the director of C3S. The European climate agency said the global average temperature for the last 12 months (July 2023-June 2024) is the highest on record, at 0.76 degrees Celsius above the 1991-2020 average and 1.64 degrees Celsius above the 1850-1900 pre-industrial average. The world's sea surface in June was also the highest ever recorded for the month. Several countries experienced record-breaking heat and devastating floods and storms in June. According to an analysis by Climate Central, an independent group of scientists and communicators based in the United States, more than 60 per cent of the world population faced extreme heat that was made at least three times more likely by climate change during June 16-24. Climate Central said the blistering heat in June impacted 619 million (61.9 crore) people in India, 579 million (57.9 crore) in China, 231 million (23.1 crore) in Indonesia, 206 million (20.6 crore) in Nigeria, 176 million (17.6 crore) in Brazil, 171 million (17.1 crore) in Bangladesh, 165 million (16.5 crore) in the US, 152 million (15.2 crore) in Europe, 123 million (12.3 crore) in Mexico, 121 million (12.1 crore) in Ethiopia and 103 million (10.3 crore) in Egypt. According to the India Meteorological Department (IMD), northwest India recorded its warmest June since 1901. India, which experienced one of its hottest and longest heatwaves, recorded more than 40,000 suspected heatstroke cases and over 100 heat-related deaths. The intense heat overwhelmed the water supply system and power grids, with Delhi grappling with a severe water crisis. According to the IMD, 11 states recorded 20 to 38 heatwave days -- up to four times the usual number of such days -- during the April-to-June period. The mercury breached 50 degrees Celsius in parts of Rajasthan, with night temperatures hovering around 35 degrees Celsius in many places. Temperatures were most above average over eastern Canada, the western United States and Mexico, Brazil, northern Siberia, the Middle East, northern Africa, and western Antarctica. SEE ALSO: <a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-ipo-mukesh-ambani-led-telco-might-be-gearing-up-for-indias-biggest-ipo/articleshow/111519009.cms">Reliance Jio IPO – Mukesh Ambani-led telco might be gearing up for India’s biggest IPO</a> <a href="https://www.businessinsider.in/business/telecom/news/jio-vs-airtel-vs-vi-prepaid-plans-comparison-plan-benefits-and-price-comparison-after-tariff-hike/articleshow/111512587.cms">Jio vs Airtel vs Vi recharge plans comparison – plan benefits and price comparison after tariff hike</a> <a href="https://www.businessinsider.in/tech/news/hp-envy-x360-14-review/articleshow/111407165.cms">HP Envy x360 14 review – feature-packed laptop with a sleek design</a>

June warmest on record; every month since July 2023 breached 1.5 deg C threshold

<keyword id="3658" type="LOCATION" weightage="20" keywordseo="India">India</keyword> on Monday successfully test-fired its new generation nuclear-capable Agni Prime missile from a defence base off <keyword id="928362" type="COMPANY" weightage="20" keywordseo="Odisha-coast">Odisha coast</keyword>, DRDO sources said. The surface-to-surface ballistic missile has a range of 1000 to 2000 km, it said. The sleek missile of the Agni series was test-fired from a mobile launcher off the Abdul Kalam Island in <keyword id="6357961" type="LOCATION" weightage="20" keywordseo="odisha">Odisha</keyword> at 10.55 am, said a DRDO source. Its trajectory was monitored by sophisticated tracking radars along the coast line. The nuclear-capable missile has been designed and developed by the <keyword id="152819" type="COMPANY" weightage="20" keywordseo="Defence-Research-and-Development-Organisation">Defence Research and Development Organisation</keyword> (DRDO). SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/tiger-global-overtakes-sequoia-as-the-top-investor-in-indian-unicorns-in-2021-cracks-15-deals-this-year-so-far/articleshow/83912624.cms">Tiger Global overtakes Sequoia as the top investor in Indian unicorns in 2021, cracks 15 deals this year so far</a> <a href="https://www.businessinsider.in/stock-market/news/kims-ipo-listed-in-stock-market-at-over-20-premium/articleshow/83912694.cms">KIMS IPO: Stock listed at over 20% premium, loses initial gains after soaring to ₹1059 per share</a> <a href="https://www.businessinsider.in/stock-market/news/dodla-dairy-ipo-lists-at-38-premium-from-its-price-band-of-rs-421-428-apiece/articleshow/83912182.cms">Shares of milk distributor Dodla Dairy list at 38% premium on exchanges</a>

India successfully test-fires surface-to-surface nuclear-capable Agni Prime missile with a range of up to 2000 kilometres

<ul class="summary-list"><li><keyword id="9541717" type="UNKNOWN" weightage="60" keywordseo="Ant-Group">Ant Group</keyword>, an affiliate fintech company of Chinese retail behemoth <keyword id="302749" type="COMPANY" weightage="60" keywordseo="Alibaba">Alibaba</keyword>, has been gearing up to go public with an anticipated valuation of around $300 billion.</li><li>The company was formed in 2014 to run Alipay, a ubiquitous digital payment service used by millions of Chinese shoppers.</li><li>Ant Group was initially scheduled to begin trading in <keyword id="1334" type="COUNTRY" weightage="60" keywordseo="China">China</keyword> this week, but its IPO was suspended after Chinese officials conducted regulatory interviews with the firm and found "major issues" that may not qualify Ant for a listing.</li><li>Here's what we know about Ant Group, whose IPO could catapult the fintech firm past the world's most established financial institutions, like Goldman Sachs.</li></ul>Although around <a href="https://www.telegraph.co.uk/technology/2020/07/20/ant-group-150bn-technology-company-have-never-heard/">1 billion people</a> in China use Ant Group's mobile payment services, many people likely have never heard of the <keyword id="6358815" type="UNKNOWN" weightage="60" keywordseo="tech">tech</keyword> affiliate company of <keyword id="424838" type="PERSON" weightage="60" keywordseo="Jack-Ma">Jack Ma</keyword>'s Alibaba.Ant Group is the world's most highly valued fintech company, and it's been <a href="https://www.businessinsider.com/jack-ma-ant-group-alipay-ipo-2020-7">prepping for an initial public offering in China</a>, with trading initially scheduled to begin on November 5, according to regulatory <a href="https://markets.businessinsider.com/news/stocks/ant-group-ipo-billion-largest-ever-jack-ma-alibaba-raise-2020-10-1029721033#">filings.</a> But Chinese officials met with Ant Group on Monday for "regulatory interviews," per <a href="https://www.cnn.com/2020/11/04/tech/ant-ipo-beijing-china-intl-hnk/index.html">CNN.</a> Authorities in Shanghai concluded that Ant's listing posed "major issues" and suspended the IPO, and <a href="https://markets.businessinsider.com/news/stocks/ant-group-ipo-suspended-shanghai-hong-kong-china-regulators-2020-11-1029758861">Ant Group said Tuesday</a> that it would also pull its IPO in Hong Kong.It's unclear if or when the IPO, which has been touted as the largest in history, will be rescheduled.Here's what we know about the Chinese fintech juggernaut, which is ready to overtake the world's most famous banks with its IPO.<h3>Ant Group is an affiliate company of Alibaba, the nation's leading consumer retail giant</h3>Some have referred to Alibaba as "The Amazon of China," and while both Alibaba and Amazon are ecommerce powerhouses in their respective home nations — and are <a href="https://www.businessinsider.com/alibaba-is-gunning-for-amazon-in-europe-2019-8">going head to head</a> in international markets — <a href="https://www.investopedia.com/articles/investing/061215/difference-between-amazon-and-alibabas-business-models.asp#:~:text=While%20Amazon%20and%20Alibaba%20each,middleman%20between%20buyers%20and%20sellers.">there are some differences between the two.</a> <h3>Alibaba is parent to 14 core units, including its B2B retail site <a href="http://alibaba.com/" target="_blank" rel="noopener noreferrer">Alibaba.com</a>, and consumer retail marketplaces Taobao and Tmall</h3><div type="image" title="alipay vienna alibaba ant" height="1335" width="1780" msid="77136434" hostid="261"></div>Ant's origins begin with Alipay, which is now one of China's most popular and ubiquitous apps that includes a digital payment service, not unlike PayPal in the US. Alipay was founded in 2004 to serve specifically as a payment service for customers checking out on Alibaba's online marketplaces.Alipay was spun out of Alibaba in 2011, and has since acted as an independent mobile payment service, expanding not only to a wider swath of the Chinese public but also <a href="https://www.businessinsider.com/alipay-wechat-international-expansion-2018-10#:~:text=Chinese%20mobile%20wallet%20giants%20Alipay,the%20Chinese%20mobile%20payment%20landscape.&amp;text=Alipay%20is%20pursuing%20South%20Korea.&amp;text=And%20WeChat%20Pay%20is%20expanding%20in%20Singapore.ngapore.">internationally</a>, like in Vienna. A holding company called Ant was formed in 2014 to serve as not only the parent company to Alipay but also to other financial services, like loans and wealth management.Then-Ant CEO Eric Jing told Think Business in 2017 that the company named itself after the small insect because it <a href="https://www.youtube.com/watch?v=zl1W8_tG4bI">serves "the little guys."</a> In 2018, Alibaba <a href="https://asia.nikkei.com/Asia300/Alibaba-to-buy-33-of-spinoff-Ant-Financial">bought out a 33% stake</a> in Ant, according to the Nikkei Asian Review.Alibaba: The Chinese holding company founded by Jack Ma in 1999 whose retail sites dominate the country's retail industry.Ant Group: An affiliate company of Alibaba formed in 2014 to serve as the parent to Alipay, as well as other financial services. Jack Ma, Alibaba founder, maintains a controlling stake in Ant Group.Alipay: A digital payment service kicked off in 2004 that has skyrocketed from Alibaba's own secure payment processor to a de facto check-out app for the general Chinese public.Jack Ma: Alibaba founder and one of the richest people in China, with a net worth of almost $50 billion.<h3>Just don't call Ant Group a <keyword id="25455" type="ORGANIZATION" weightage="60" keywordseo="finance">finance</keyword> firm</h3>Ant has recently been attempting to shift the optics of the company from financial firm to technology services provider. The company wasn't even called Ant Group until June — before then, it was Ant Financial Services.<div type="image" title="ant group financial" height="1207" width="1609" msid="77136438" hostid="261"></div>That's because the company has veered into the business of some Chinese banks, siphoning off <a href="https://www.wsj.com/articles/how-jack-mas-ant-group-went-from-business-disrupter-to-chinese-tech-champion-11595335267?mod=business_lead_pos13">millions of customers</a> and landing in hot regulatory water in the process. It specifically hosted a money-market fund, a type of low-risk mutual fund, that became the largest of its kind in the world — more than 600 million people are invested in it, or a third of China's entire population as the <a href="https://www.wsj.com/articles/how-jack-mas-ant-group-went-from-business-disrupter-to-chinese-tech-champion-11595335267?mod=business_lead_pos13">WSJ</a> reports. The mutual fund was reportedly dubbed a <a href="https://qz.com/1791778/ant-financials-yue-bao-is-no-longer-the-worlds-biggest-money-market-fund/">"blood-sucking vampire"</a> for the bite it took out of the Chinese financial system. And if Ant's IPO were to go as some analysts have been predicting, other established financial institutions — like Wells Fargo and Goldman Sachs — could be left in the dust. Ant was reportedly shooting for a market valuation of more than $200 billion. For comparison, Goldman Sachs has a market capitalization of <a href="https://markets.businessinsider.com/stocks/gs-stock">$73 billion.</a><h3>Ant's IPO could be one of the biggest initial public offerings in history</h3>Ant's <a href="https://www.cnbc.com/2020/07/21/alibaba-ant-group-ipo-hong-kong-shanghai-explained.html">last notable</a> fundraising round was in 2018, according to CNBC, when the firm raked in <a href="https://www.cnbc.com/2018/06/07/jack-mas-ant-financial-raised-14-billion-in-fresh-funds.html">$14 billion</a> from investors to beef up its global Alipay service. That bloated its valuation to $150 billion.Its dual-listing IPO was expected to raise $34.5 billion for the firm, making it the largest listing in the world. Its valuation sits at <a href="https://apnews.com/article/hong-kong-shanghai-china-6694d0c8b4a8c5db7e39ce13b04ed8a5">$280 billion</a> but the IPO could have bloated that figure to over $300 billion."It's like having Apple on Nasdaq," Primavera Capital Group founder Fred Hu, whose private-equity firm moved in quick to back Ant early on, told the <a href="https://www.wsj.com/articles/how-jack-mas-ant-group-went-from-business-disrupter-to-chinese-tech-champion-11595335267?mod=business_lead_pos13">Wall Street Journal.</a>However, it's now unclear when the company will be able to move forward with it's public listing. <h3>The startup skirted a listing on the New York Stock Exchange as US-China relations grow continually strained</h3>Ant opted for a dual listing in Hong Kong and Shanghai, glossing over the NYSE, though a source told the <a href="https://www.wsj.com/articles/how-jack-mas-ant-group-went-from-business-disrupter-to-chinese-tech-champion-11595335267?mod=business_lead_pos13">WSJ</a> that the company always intended to only list in China.But the move still comes as Chinese tech firms stand in the crosshairs of strained relations between the eastern nation and the US. Lawmakers are increasingly uneasy about the Chinese government having access to user data through Chinese tech platforms.The US has taken aim at the ultra-popular video sharing TikTok app in recent months, which is owned by the Chinese tech behemoth ByteDance. The House of Representatives has voted to ban the app from all federally-issued devices, and <a href="https://www.businessinsider.com/tiktok-lawsuit-us-government-trump-ban-due-process-national-security-2020-8">TikTok has filed a lawsuit against the US government</a> challenging an executive order issued that bans transactions between it and US firms. In the UK, the government has placed a ban on 5G network equipment from Chinese telecom giant Huawei, and the US is <a href="https://www.businessinsider.com/pompeo-huawei-visa-restrictions-tech-firms-china-2020-7">similarly working to distance itself</a> from the company.And in early October, news surfaced that the Trump administration was <a href="https://www.businessinsider.com/trump-tencent-ant-group-restricting-chinese-firms-2020-10">considering restricting both Ant Group and fellow Chinese giant Tencent</a> in the US over national security concerns. Business Insider viewed and downloaded it through Apple's App Store, but a spokesperson told us that the Alipay app is currently unavailable for American users in the US unless they have a Chinese bank account.<h3>PayPal vs. Ant Group</h3><div type="image" title="alipay ant group US" height="1500" width="2000" msid="77136441" hostid="261"></div>PayPal Holdings operates in more than 200 markets worldwide and gobbled up almost 14.5% of the fintech market in 2019, per a June report from <a href="https://www.fox34.com/story/42213819/paypal-holdings-and-ant-financial-services-group-lead-the-fragmented-fintech-market">The Business Research company.</a> Ant Group had 8% of the total share that year and now operates in over <a href="https://www.businesswire.com/news/home/20191114005332/en/Alipay-Aims-10-Million-European-Merchants-Reach#:~:text=Alipay's%20in%2Dstore%20payment%20service,is%20supported%20in%2035%20markets.">50 markets.</a> Other competitors, like Tencent, Square, and Shopify, trailed behind.PayPal went public in 2002 and now sits at a <a href="https://markets.businessinsider.com/stocks/pypl-stock">$205 billion</a> market cap in the US. And while it may be the leading mobile payment service in the US, when PayPal moved into the Chinese market in 2019, it found itself a small fish in a big pond as <a href="https://fortune.com/2019/10/02/paypal-china-payments-alipay-wechat/">Fortune</a> reports. Ant, along with Tencent's WeChat, dominated 90% of the market at the time. Alipay officially moved into the US market in 2017, initially to allow Chinese customers in the country to shop without worrying about exchanging currency, as <a href="https://www.theverge.com/2017/5/9/15595338/alipay-us-expansion-china-apple-pay-android-paypal">The Verge</a> reports.As both companies continue to expand, the tense ties between the Trump Administration-led US and China will likely continue posing obstacles to Ant's move into the American market, per a <a href="https://qz.com/1570052/ant-financials-alipay-is-expanding-rapidly-outside-of-china/">Quartz</a> report. In 2018, the US threw out Ant's attempt to acquire MoneyGram, a money transfer firm, <a href="https://www.reuters.com/article/us-moneygram-intl-m-a-ant-financial/u-s-blocks-moneygram-sale-to-chinas-ant-financial-on-national-security-concerns-idUSKBN1ER1R7">over national security concerns. </a>

China just suspended Ant Group's $34 billion IPO, the largest in history. Here's how the company was spun out of Jack Ma's Alibaba and has transformed the global fintech market.

Creative Lab / Shutterstock.com <ul><li>Uber is seeking to raise more than $10.3 billion in its initial public offering at a valuation as high as $90 billion.</li><li>In a regulatory filing Friday, the ride-hailing giant said it planned to offer 180 million shares at a price of $44 to $50 a share.</li><li>"Over the last decade, as the needs and preferences of our customers have changed, we've changed too," CEO <keyword id="1550747" type="PERSON" weightage="20" keywordseo="Dara-Khosrowshahi">Dara Khosrowshahi</keyword> said. "Now, we're becoming something different once again: a public company."</li><li>Uber also announced a "driver appreciation reward" of up to $40,000 for qualifying drivers.</li><li>Uber's revenue grew by up to 20% in the first quarter of 2019, but its operating loss more than doubled to north of $1 billion.</li><li>Underlying sales rose by about 9%, and underlying losses tripled to $954 million.</li></ul> <a href="https://markets.businessinsider.com/private-company/uber?utm_source=markets&amp;utm_medium=ingest" target="_blank">Uber</a> is seeking to raise upward of $10.3 billion in what would be one of the largest initial public offerings in history, <a href="https://www.sec.gov/Archives/edgar/data/1543151/000119312519120759/d647752ds1a.htm" target="_blank">according to a Securities and Exchange Commission filing published Friday</a>. The ride-hailing giant says it plans to offer 180 million shares at a price between $44 and $50 a share, which would give it a prospective market cap between $79 billion and $90 billion. Uber plans to list its shares on the New York Stock Exchange under the symbol UBER. "Building this platform has required a willingness to challenge orthodoxies and reinvent — sometimes even disrupt — ourselves," CEO Dara Khosrowshahi said in the filing. "Over the last decade, as the needs and preferences of our customers have changed, we've changed too. Now, we're becoming something different once again: a public company." Uber, whose app connects drivers with passengers in more than 700 cities worldwide, also announced it would pay about $300 million to more than 1.1 million drivers as a "driver appreciation reward." Qualifying drivers in the US will receive $100 to $40,000 in cash based on the number of trips they've completed. The payout for non-US drivers will be adjusted to average hourly earnings in their regions. The company has also reserved 5.4 million shares for sale at the IPO price to US drivers who have completed at least 2,500 trips, including one trip this year as of April 7, and have an Uber account in good standing. Uber continued to grow its total users, trips, and revenue in the first quarter of 2019, but its losses climbed too. Monthly active users rose by almost a third, to 93 million from 70 million. Total trips jumped 36% to about 1.55 billion. Revenue rose by 18% to 20%, to between $3.04 billion and $3.10 billion, according to Uber's preliminary estimates. Operating losses more than doubled to between $1 billion and $1.1 billion from $478 million. Overall, Uber estimated that it lost $1 billion to $1.1 billion in the first three months of this year. The loss reflected higher platform costs including greater spending on incentives and promotions, as the company said it fought to maintain market share amid "increased competitive pressures" in the US and other markets. Uber's adjusted figures don't read much better. Adjusted net revenue, which strips out certain driver incentives and referral perks, grew by 8% to 10% to between $2.7 billion and $2.77 billion in the first quarter of 2019, the company estimated. The ride-hailing company had turned a profit in the first quarter of last year thanks to $3.16 billion in income from the sale of its Russian/Eurasian and Southeast Asian operations and a $2 billion gain from its investment in its Chinese ride-hailing rival Didi Chuxing. Its adjusted earnings before interest, tax, depreciation, and amortization, which exclude such one-off gains, widened this past quarter to a loss between $847 million and $954 million from $280 million. Uber continues to expand into different industries with services such as Uber Eats and Uber Freight. "We are still barely scratching the surface when it comes to huge industries like food and logistics, and how the future of urban mobility will reshape cities for the better," CEO Dara Khosrowshahi wrote in the filing. Uber's IPO has drawn interest from several big names including PayPal. The payments giant has agreed to purchase $500 million in Uber stock at its IPO price in a private placement. The pair have extended their global partnership and plan to explore future collaborations including the development of Uber's digital wallet, according to a PayPal representative.<a href="http://read.bi/ai-101-free"> </a> <pre style="display: none;">function receiveMessage(event){ console.log(event.data.fullscreen); Android.fullscreen(event.data.fullscreen); }window.addEventListener("message", receiveMessage, false);</pre>

Uber is going public at a $90 billion valuation

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><a href="http://pictures.reuters.com/C.aspx?VP3=SearchResult&amp;VBID=2C0FCIYOWCZW&amp;SMLS=1&amp;RW=1355&amp;RH=850#/SearchResult&amp;VBID=2C0FCIYOWCZW&amp;SMLS=1&amp;RW=1355&amp;RH=850&amp;POPUPPN=3&amp;POPUPIID=2C04080RDJ3PX">Reuters/Brendan McDermid</a></div></div></div>Finance Insider is Business Insider's midday summary of the top stories of the past 24 hours.To sign up, scroll to the bottom of this page and click "Get updates in your inbox," or <a href="http://www.businessinsider.com/newsletter/prime-finance?IR=T&amp;utm_source=businessinsider&amp;utm_medium=finance_insider&amp;utm_term=finance_insider_leadgen_text_link&amp;utm_content=leadgen_text_link&amp;utm_campaign=finance_insider_leadgen_link">click here.</a>We have an IPO! <a href="http://www.businessinsider.com/bats-ipo-share-price-april-15-2016-4">Bats Global Markets opened for trading at $22.88</a> on Friday, higher than the initial public offering price of <a href="http://www.businessinsider.com/bats-ipo-prices-2016-4">$19 per share</a>. The stock surged by as much as 21%. Bats, the second-largest stock-exchange operator in the US, sold 13.3 million shares on Thursday, valuing the company at $1.82 billion and making it the largest IPO of the year.The deal was 20 times oversubscribed, according to people familiar with the matter.In bank news, <a href="http://www.businessinsider.com/citi-q1-earnings-2016-4">Citigroup beat first-quarter earnings expectations</a>, but profit plummeted 27%.<a href="http://www.businessinsider.com/goldman-sachs-cost-cutting-2016-4">Goldman Sachs is reining in the expenses</a> after a rough quarter for trading and banking businesses across the Street.Bank of America, however, is sounding optimistic - at least when it comes to deal making. <a href="http://www.businessinsider.com/bank-of-america-on-deals-2016-4">CFO Paul Donofrio on Thursday said the deal pipeline "looks great"</a> and CEO Brian Moynihan said the "work is ready to go."In hedge fund news, <a href="http://www.businessinsider.com/steve-cohen-launching-stamford-harbor-capital-2016-4">Steve Cohen can start taking outside money again</a>, and <a href="http://www.businessinsider.com/boaz-weinstein-saba-performance-2016-4">Boaz Weinstein is making a huge comeback</a>.Here are the top Wall Street headlines at midday:<a href="http://www.businessinsider.com/paul-tudor-jones-faces-1-billion-in-redemptions-2016-4">Investors have yanked out more than $1 billion from Paul Tudor Jones' hedge fund</a> - Billionaire hedge funder Paul Tudor Jones is facing nearly $1 billion in investor redemptions.<a href="http://www.businessinsider.com/larry-fink-fiduciary-rule-is-great-2016-4">BlackRock CEO Larry Fink thinks President Obama's massive new regulation is great</a> - BlackRock CEO Larry Fink is cheerleading a new fiduciary rule to raise the standards of investment advice for retirement accounts.<a href="http://www.businessinsider.com/john-afriyie-insider-trading-arrest-2016-4">A 28-year-old hedge fund analyst accused of insider trading used his mom's brokerage account</a> - John Afriyie, an analyst at a private New York investment fund, was arrested and charged with insider trading after making $1.5 million in ill-gotten gains trading options on his mom's brokerage account.<a href="http://www.businessinsider.com/bombardier-delta-c-series-deal-2016-4">Canada's Boeing challenger may be about to make a blockbuster deal</a> - Shares of Canadian airplane maker Bombardier are surging after reports surfaced indicating Delta Air Lines is close to placing a major order for the company's C-Series airliner. <a href="http://www.businessinsider.com/this-is-the-most-useless-number-in-global-finance-and-everyone-needs-to-stop-being-obsessed-with-it-2016-4">This is the most useless number in global finance, and everyone needs to stop being obsessed with it</a> - If you're trying to understand what's going on with China's economy, looking at GDP should be really far down on your list of things to do. In fact, it's pretty much useless.<a href="http://www.businessinsider.com/creditsigthts-says-sunedison-is-in-default-2016-4">There's talk that Wall Street's nightmare stock is already in default</a> - For the most part, the market is waiting for SunEdison, the world's largest renewable-energy company, to file for bankruptcy any day now. In the meantime, reports like this can't help.

FINANCE INSIDER: We have an IPO!

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">Snap</div></div></div>One of the longstanding knocks against Snapchat is that the app's design is confusing to use.And with the company preparing for a massive IPO, that's something that might not sit well with investors looking for the next Facebook.On Thursday, Snapchat took the first step to making its app easier to use and more accessible to the general public. An update to the app announced on Thursday, streamlines the app's design with more visual profiles and improved search capabilities.A new search bar throughout the app lets you quickly jump into conversations with friends, and each profile can be represented by its own Bitmoji, <a href="http://www.businessinsider.com/snapchat-just-introduced-a-feature-it-paid-more-than-100-million-for-2016-7">the customizable emoji app Snapchat purchased for more than $100 million in July 2016.</a>Snapchat will also use the new search bar to surface the handful of media partners who create content in its app every day - so you'll be able to search for "CNN" to see its daily package of stories from Snapchat's Discover section.Snapchat is also stepping up its crowdsourcing of user videos, which it calls "stories." Every one of the app's 150 million daily users will be able to submit video clips to a global "Our Story," which the company's employees will then collect around themed events and specific locations like a football game.<div class="KonaFilter image-container display-table"><div><div class="image on-image">SnapScreenshots of Snapchat's latest update.</div></div></div>A spokesperson said that Thursday's updates will be available to a limited number of Android users first before they're made available to all Snapchat users "soon."Snapchat parent company Snap Inc. <a href="http://www.businessinsider.com/snapchat-parent-company-snap-inc-files-for-ipo-2016-11">is preparing for an initial public offering</a> that could value its <keyword id="35666" type="COMPANY" weightage="60" keywordseo="advertising">advertising</keyword> businesses at between $20-25 billion. <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/story-snap-ceo-evan-spiegel-fabulous-life-snapchat-miranda-kerr-2017-1">The fabulous and charmed life of 26-year-old self-made billionaire, Snap CEO Evan Spiegel</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="V2ZGZ2ODE6P1Q51G0VmoQV9R52xBAki-" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

Snapchat is making its app less confusing as it prepares to IPO

<ul><li><keyword id="19894961" type="General" weightage="20" keywordseo="Apple" source="keywords">Apple</keyword> is all set to launch the <keyword id="19899647" type="General" weightage="20" keywordseo="iPhone-16" source="keywords">iPhone 16</keyword> series globally on September 9.</li><li>The Cupertino tech giant has posted a teaser with the tagline “It’s Glowtime”.</li><li>Here’s everything you need to know about the upcoming iPhone 16 series.</li></ul>Cupertino tech giant Apple is all set to launch the iPhone 16, the company’s latest iPhone series on September 9. Ahead of the launch, some of the information about the device has surfaced, giving us a look at the device. The iPhone 16 series launch teaser has the tagline “It’s Glowtime”, hinting at a major overhaul for <keyword id="20024792" type="General" weightage="20" keywordseo="Siri" source="keywords">Siri</keyword>, the company’s voice assistant. It is expected to get several new AI-powered features to take on the recently launched <a href="https://www.businessinsider.in/tech/mobile/news/pixel-9-pixel-9-pro-and-pixel-9-pro-xl-launched-in-india-starting-at-79999/articleshow/112512198.cms">Pixel 9 series</a>. <h2>iPhone 16 series launch date and time</h2>The <keyword id="13674434" type="General" weightage="20" keywordseo="iPhone-16-launch" source="Orion">iPhone 16 launch</keyword> is scheduled for September 9 at 10:30 PM IST. <h2>How to watch the Apple iPhone 16 launch</h2>The Apple event will be streamed from the Steve Jobs Theater at Apple Park. The event will be streamed on the company’s website, Apple TV and YouTube channel. <h2>iPhone 16 expected price</h2>While there is no confirmation yet, the prices of the iPhone 16 series are expected to remain the same as the iPhone 15 series. This means that the iPhone 16 will start at ₹79,900 and the iPhone 16 Plus will start at ₹89,900. Coming to the Pro models, the <keyword id="16032878" type="General" weightage="100" keywordseo="iPhone-16-pro" source="Orion">iPhone 16 Pro</keyword> is expected to be priced starting at ₹1,34,900, while the iPhone 15 Pro Max is expected to be priced starting at ₹1,59,900. <h2>What to expect from the iPhone 16 launch event</h2>Apple is expected to launch four <keyword id="19934037" type="General" weightage="20" keywordseo="iphones" source="keywords">iPhones</keyword> at the event, including the vanilla iPhone 16, iPhone 16 Plus, iPhone 16 Pro and iPhone 16 Pro Max. <h2>iPhone 16 and iPhone 16 Plus roundup</h2>The iPhone 16 and iPhone 16 Plus are expected to feature a revamped design, offering The action button, which was earlier limited to the Pro models is expected to be added to the iPhone 16 and iPhone 16 Plus models. The iPhone 16 is expected to come with a vertical camera module setup. The new lens setup is expected to slim down the camera bump, enhancing the device’s rear design. The iPhone 16 series is expected to feature a new capture button on the right side, that will allow users to shoot images or record videos with just a tap. The iPhone 16 and iPhone 16 Plus are expected to be powered by the Apple A18 chipset. The device is expected to offer a host of AI features, including improved Siri, AI summary and object detection. The iPhone 16 and iPhone 16 Plus are expected to feature a similar camera setup as their predecessor. The iPhone 16 and iPhone 16 Plus are expected to be available in seven colour options – Black, Blue, Green, Pink, Purple, White and Yellow. <h2>iPhone 16 Pro and iPhone 16 Pro Max roundup</h2>The iPhone 16 Pro and iPhone 16 Pro Max are expected to feature larger displays. While the iPhone 16 Pro is expected to feature a 6.3-inch display and the iPhone 16 Pro Max is expected to feature a 6.9-inch display. The devices are expected to be equipped with Samsung’s new M14 OLED panel, which is expected to offer higher brightness. The iPhone 16 Pro and iPhone 16 Pro Max are expected to be equipped with a new chipset built on the latest N3E 3-nanometer node. The devices are expected to be equipped with the A18 Pro chipset. Like the iPhone 16 and iPhone 16 Plus, the iPhone 16 Pro and iPhone 16 Pro Max will also feature a new capture button on the right side. The devices are expected to feature an improved camera setup. The iPhone 16 and iPhone 16 Pro Max are expected to be equipped with a triple camera setup consisting of a 48MP primary camera, a 48MP ultra-wide-angle lens and a telephoto lens. While the iPhone 16 Pro is expected to feature a 3,355mAh battery, the iPhone 16 Pro Max is expected to feature a 4,676mAh battery. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/webstories/shree-tirupati-balajee-agro-trading-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/113082663.cms">Shree Tirupati Balajee Agro Trading IPO – Price band to risk factors, all you need to know</a> <a href="https://www.businessinsider.in/tech/news/gopro-hero-13-black-and-hero-launched-starting-at-23990/articleshow/113067269.cms">GoPro Hero 13 Black and Hero launched starting at ₹23,990</a> <a href="https://www.businessinsider.in/business/auto/news/electric-two-wheeler-sales-declined-in-august-2024-but-year-on-year-growth-continues/articleshow/113050150.cms">Electric two-wheeler sales declined in August 2024, but year-on-year growth continues</a>

Apple iPhone 16 to launch on September 9 – design, specs and everything we know so far

Mining conglomerate <keyword id="19919721" type="General" weightage="20" keywordseo="Vedanta" source="keywords">Vedanta</keyword> Ltd on Tuesday reported 36.5 per cent rise in consolidated net profit at Rs 3,606 crore for June quarter FY25 due to improved margins and robust cost reduction across all operations. The company had posted a net profit of Rs 2,640 crore in the year-ago period. Income rose to Rs 36,698 crore over Rs 34,279 crore in the year-ago period, according to an exchange filing. Vedanta said in a statement that the proposed demerger of its businesses is on track and it has already filed the demerger scheme with NCLT after getting a nod from secured creditors. The company said that its board has approved a capex investment of USD 270 million for its oil and gas business. "The strategic priority for the Cairn Oil &amp; Gas business is to augment reserves and increase near term volume through infill wells and enhanced oil recovery. In order to deliver this, the Board has approved capex investment (net) of USD 270 million across fields in the Rajasthan block for drilling wells and construction of surface facility for ASP ( Alkaline Surfactant Polymer) injection," the company said in a separate filing. Vedanta Executive Director Arun Misra said that the company has delivered a strong start to the year, with exceptional EBITDA improvement of 47 per cent and PAT improvement by 54 per cent year-over-year on the back of improved margins, and robust cost reduction across all operations. "Our aluminium and zinc divisions continue to outperform industry benchmarks, consistently ranking in the top quartiles and deciles of the global cost curve. These achievements are a direct result of our strategic focus on cost, as reflected in a 20 per cent year-over-year reduction in overall cost," he said. The company's growth projects are well on track and it remains committed to commission the majority of these projects in FY25. "Moving ahead, our focus on operational efficiency, sustained expansion, and ESG excellence will guide our journey. With this dedication, we are confident in our ability to create substantial shareholder value in the year ahead," he added. Last month, the mining conglomerate raised Rs 8,500 crore (over USD 1 billion) through Qualified Institutions Placement (QIP) of 19.31 crore equity shares at an issue price of Rs 440 per share. Company's CFO Ajay Goel said, "The overwhelming response to the Vedanta's... QIP...underscores investors' huge confidence. The proceeds from the QIP will be further instrumental in deleveraging the balance sheet and reduction of finance costs. We have received all the requisite approvals and have filed the demerger scheme with the National Company Law Tribunal (NCLT) taking our demerger a step closer to reality." The company's gross debt stood at Rs 78,016 crore as on June 30, 2024. Vedanta Ltd, a subsidiary of Vedanta Resources Ltd, is one of the world's leading natural resources companies spanning across India, South Africa, Namibia, Liberia, the UAE, Korea, Taiwan and Japan with significant operations in oil and gas, zinc, lead, silver, copper, iron ore, steel, nickel, aluminium, power and glass substrate. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/webstories/unicommerce-esolutions-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/112307438.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/webstories/unicommerce-esolutions-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/112307438.cms" target="_blank">Unicommerce eSolutions IPO – Price band to risk factors, all you need to know</a> <a href="https://www.businessinsider.in/business/auto/news/electric-two-wheeler-sales-cross-the-1-lakh-mark-after-four-months-ola-electric-leads-the-market/articleshow/112288793.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/electric-two-wheeler-sales-cross-the-1-lakh-mark-after-four-months-ola-electric-leads-the-market/articleshow/112288793.cms" target="_blank">Electric two-wheeler sales cross the 1 lakh mark after four months, Ola Electric leads the market</a> <a href="https://www.businessinsider.in/sports/news/neeraj-chopras-paris-olympics-journey-to-begin-with-qualification-round-today-top-rivals-to-look-out-for/articleshow/112311760.cms">Neeraj Chopra qualifies for finals with a first throw of 89.34m – top rivals to look out for</a>

You Searched For "global surfaces ipo" and got 8 results

June warmest on record; every month since July 2023 breached 1.5 deg C threshold

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India successfully test-fires surface-to-surface nuclear-capable Agni Prime missile with a range of up to 2000 kilometres

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China just suspended Ant Group's $34 billion IPO, the largest in history. Here's how the company was spun out of Jack Ma's Alibaba and has transformed the global fintech market.

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Uber is going public at a $90 billion valuation

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FINANCE INSIDER: We have an IPO!

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Snapchat is making its app less confusing as it prepares to IPO

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Apple iPhone 16 to launch on September 9 – design, specs and everything we know so far

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Vedanta Q1 profit surges 37% to ₹3,606 crore on improved margins

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