Ant Group will raise a staggering $34.5 billion from its HK-Shanghai IPO, CNBC reported , valuing the company at $313 billion. Ant set the prices for the IPO on Monday Hong Kong time, but it won’t start trading until Nov. 5. The valuation on Ant, China’s biggest digital payments company, is higher than what the company had initially been seeking. It makes the IPO the biggest in history and a...
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How Activists Proved to be Salesforce’s ‘Superpower’
These corporate efficiency initiatives really work! Salesforce’s April-quarter earnings report Wednesday showed an operating profit of $412 million, a 5% margin, compared with $20 million a year earlier, which equated to a margin of 0.27%. The reason was lower expenses—research and development costs fell 8.4% while marketing expenses dropped 6.5%—even as revenue rose 11%. Cutting costs to lift...
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