The most important news from last week
Blackstone and Airbnb are set to join S&P 500
In after-hours trading on Friday, Blackstone and Airbnb witnessed significant gains as a result of the announcement by S&P Dow Jones Indices that these two companies were slated to become part of the prestigious S&P 500 index. Airbnb experienced an increase of 5%. * Companies will effectively replace Lincoln National Corp and Newell Brands Inc. The official commencement of this transition in the index is scheduled for 18th of September, signalling a noteworthy milestone for both.
Movement of Airbnb in the last five years. (Source: Trading Economics) *
Arm will ask for 47 to 51 USD per stock in IPO
Arm Holdings, the chip designer under the ownership of SoftBank Group Corp, is preparing to introduce its initial public offering (IPO) to investors at a share price ranging between 47 and 51 USD. This price range, not previously disclosed, would imply a valuation for Arm in the vicinity of 50 billion to 54 billion USD, with an IPO offering valued between 5 billion and 5.4 billion USD. If successful, this IPO could position Arm as the most valuable company to debut on the New York stock exchange.
Tesla restyled their Model 3
Tesla unveiled its revamped China-manufactured Model 3 sedan to the public for the first time during a trade fair in Beijing, following its global launch a day earlier. Notably, this debut of the updated Model 3 also signifies the first occasion on which the automaker has introduced a vehicle in China before the United States, highlighting its increasing dependence on this critical market, where it is vying for market supremacy with Chinese automaker BYD.
Meta might allow EU users to pay to avoid ads
Meta Platforms is reportedly exploring the introduction of paid versions of Facebook and Instagram without advertisements specifically for European Union (EU) users, in a strategic response to mounting regulatory scrutiny. This initiative aims to offer subscribers an ad-free experience while still retaining free versions of the apps supported by advertisements. The potential introduction of subscriptions might serve as a countermeasure against growing privacy concerns and regulatory scrutiny in the EU.
Uber presented electric bike fleet in Kenya
Uber has introduced its first electric motorbike service in Kenya, marking its inaugural foray into Africa with this eco-friendly initiative as part of its global goal to achieve carbon neutrality by 2040. The rollout in Kenya is the initial step, with a potential expansion announcement for the rest of the sub-Saharan African markets anticipated later this year. Referred to as Electric Boda, the green offering in Kenya is expected to encompass 3,000 electric bikes within 6 months, accounting for nearly a fifth of total fleet.
Sources: Reuters, Investing, CNBC
* Past performance is no guarantee of future results.
 Forward-looking statements are based on assumptions and current expectations, which may be inaccurate, or based on the current economic environment which is subject to change. Such statements are not guaranteeing of future performance. They involve risks and other uncertainties which are difficult to predict. Results could differ materially from those expressed or implied in any forward-looking statements.
The content of this material constitutes marketing communication and should not be considered as any type of investment advice and/or investment research and/or a solicitation for any transactions. This material was prepared for informational/educational purposes only and does not imply an obligation to perform investment transactions nor does it guarantee or predict future performance. BCM Begin Capital Markets Cy Ltd and its relevant persons including affiliates, agents, directors, or employees do not guarantee the accuracy, validity, timeliness, or completeness of any information/data provided by third parties and assume no liability for any loss arising from any investment made based on the said information/data. Past performance is no guarantee of future results.