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Deliveroo rises as retail investors join trading; riders plan strike By Reuters

By Julien Ponthus and Abhinav Ramnarayan LONDON (Reuters) -Deliveroo shares rose on Wednesday, the first day retail investors could trade stock bought during the food delivery group's initial public offering (IPO), while some of the company's UK riders were expected to strike over fair pay. At 0924 GMT on the first day of unrestricted trading, Deliveroo's shares were up 2.3% at 286.4 pence, but still about 25% lower than the IPO price, following a hefty first day tumble when it made its stock market debut in London last week. Deliveroo was given an initial...

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Healthcare platform Agilon targets valuation of up to $9 billion in U.S. IPO By Reuters

(Reuters) - Agilon Health is aiming for a valuation of up to $9 billion in its initial public offering (IPO), the healthcare platform said on Wednesday, joining a clutch of companies looking to cash in on the record run in U.S. capital markets. The company said it planned to raise more than $1 billion in its IPO by selling 46.6 million shares at a price range of $20 and $23 per share. Founded in 2016, Agilon health provides a care platform for primary care physicians. The company will list on the New York Stock Exchange under...

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KKR-backed gaming firm AppLovin targets $30 billion valuation in U.S. IPO By Reuters

(Reuters) -Mobile app and gaming company AppLovin Corp, which is backed by private equity giant KKR & Co Inc, said on Wednesday it was aiming for a valuation of more than $30 billion in its U.S. initial public offering (IPO). The company was looking to raise as much as $2.13 billion by selling 25 million shares at a price range of $75 to $85 per share. It had hired Morgan Stanley (NYSE:MS) to lead its IPO, Reuters reported last year. The Palo Alto, California-based company is the latest player in the mobile gaming industry...

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Ryanair says slow EU vaccine rollout to hit passenger forecast By Reuters

DUBLIN (Reuters) -The European Union's slow COVID-19 vaccine rollout will damage Ryanair's prospects in the coming year, Europe's biggest low-cost airline said on Wednesday, as it flagged a smaller than expected loss for its financial year just ended. The Irish company said it now expected passenger traffic in the year to March 31, 2022, to be towards the lower end of...

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Norway wealth fund makes first investment in renewable energy project By Reuters

OSLO (Reuters) - Norway's $1.3 trillion sovereign wealth fund, the world's largest, has made its first direct investment in a renewable energy project, a new asset class for the fund, it said on Wednesday. The fund bought a 50% stake in the Borssele 1 and 2 wind farm off the Netherlands for 1.375 billion euros ($1.63 billion)from Denmark's Orsted , it said....

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Shell flags likely fall in first-quarter fuel sales By Reuters

By Shadia Nasralla LONDON (Reuters) - Royal Dutch Shell (LON:RDSa) expects its fuel sales to fall or at best be broadly steady for the first quarter, the world's biggest fuel retailer said on Wednesday, indicating fuel demand recovery has remained slow amid coronavirus restrictions. In a trading update, Shell said it saw refined oil product sales at 3.7-4.7 million barrels per day...

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Weaker pound, commodity stocks lift FTSE 100 ahead of services activity data By Reuters

(Reuters) - London's FTSE 100 climbed on Wednesday as heavyweight commodity stocks gained and a weaker pound lifted exporters, while investors awaited final March service sector activity data later in the day. The blue-chip index rose 0.6%, with shares of large dollar-earning consumer staples companies including Unilever (LON:ULVR), Diageo (LON:DGE) Plc and British American Tobacco (LON:BATS)...

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China’s Growth Set to Drive World Economy in Post-Pandemic Years By Bloomberg

(Bloomberg) -- China will drive global economic growth in the coming years as the world recovers from an pandemic that’s killed 2.9 million people, the International Monetary Fund predicts. China will contribute more than one-fifth of the total increase in the world’s gross domestic product in the five years through 2026, according to Bloomberg calculations based on IMF forecasts published Tuesday. Global GDP...

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