Today's big stories

Ant Financial announced plans for a $200 billion initial public offering
There are two sectors you might want to watch to capitalize on China's potential V-shaped recovery – Read Now
eBay has reportedly agreed the $9 billion sale of its classifieds business

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Personal Developm-ant

What’s Going On Here?

Ant Financial – the fintech business of Chinese internet giant Alibaba – announced plans for an initial public offering (IPO) that could value it at an unsquishable $200 billion.

What Does This Mean?

Ant – which owns ubiquitous Chinese payment service Alipay – said it plans to list its shares on both the Hong Kong stock exchange and China’s tech-focused Star Market, which should help more global investors buy into the stock if they’re keen to.

Ant hasn’t said exactly when it wants to “go public” yet, or how much it aims to raise when it does. But when the company last raised money from private investors in 2018, it was valued at $150 billion – making it the world’s largest unicorn. Since then, some of its investors – including the world’s biggest investment manager BlackRock – have upped their assessments of what it’s worth, suggesting the upcoming IPO could value the company at $200 billion.

Why Should I Care?

The bigger picture: Heir appar-ant.
The rapid demise of German payment processor Wirecard last month might’ve encouraged Ant to accelerate its expansion plans. Wirecard, after all, claimed it had a booming business across parts of Southeast Asia – and given that things in the region weren’t quite as they seemed, it could present more of an opportunity than Ant initially thought. But the company's ambitions don’t stop at financial and payment processing: it aims to start selling a greater proportion of tech services like cloud computing, artificial intelligence, risk management, and blockchain.

For markets: Bit of a disappointm-ant.
Data out last week showed the Chinese economy grew by a more-than-expected 3.2% in the second quarter compared to the same period last year. The manufacturing industries that make up the majority of China’s economy appear to have recovered, but consumer spending was weaker than predicted. Ant’s investors in particular will want to see spending pick up soon, especially since so much of it is done via the company’s platform.

Spot opportunity: How you could profit from Ant Financial’s IPO.

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2/3 Premium

China Looks V Promising

What’s Going On Here?

At least China’s economic recovery looks set to be V-shaped – and there are a couple of sectors you’ll want to keep an eye on if you’re hoping to benefit.

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3/3

Hammer Time

What’s Going On Here?

According to recent reports, eBay’s classifieds business is about to be going once, going twice, aaaand sold for almost $9 billion.

What Does This Mean?

eBay is most famous for its auction-based marketplace, but it was also once home to PayPal and ticket resale platform StubHub (tweet this). After “spinning off” the former in 2015, the company came under pressure from “activist investors” to sell off more of its other businesses – which led the company to ditch the latter last year.

eBay’s “global classifieds” business – think sites like Craigslist and Gumtree – is next to face the chop. And Europe’s Adevinta – itself an amalgamation of several classifieds businesses – is looking like the most likely buyer, having fended off rival bids from private equity firms and public internet conglomerate Prosus. eBay reportedly wants to keep a small stake in the company after selling the majority, and Adevinta’s flexibility seems to have won the day.

Why Should I Care?

For markets: Classifieds information.
With so few ongoing costs, classifieds businesses can have sky-high profit margins – but activist investors seemed to think eBay would be better off without. They argued eBay’s various segments made the company too complex, and that this was reflected in a share price that should’ve been higher than it was. They’re hoping that – besides bringing in some cash – selling off the classifieds business will make the rest of eBay simpler to assess. That should, in turn, attract more investors, push the share price up, and benefit existing investors – including the activists themselves.

Zooming out: Deals a-flying.
Oil giant Chevron announced a deal of its own on Monday: the $5 billion acquisition of Noble Energy. After getting outbid in its $50 billion pursuit of Anadarko Petroleum, the deal should help Chevron double down on its efforts in the US Permian Basin – a region popular among oil companies because it’s one of the cheapest places in the US to produce the inky delight.

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💬 Quote of the day

“We’re one people, and we all live in the same house. Not the American house, but the world house.”

– John Lewis (an American politician and civil rights leader who passed away this weekend)

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🔮 Nothing to see here…

The future’s never been harder to read. So as the world enters the recovery phase, we asked a panel of experts to give us their take on what challenges are still to come for governments and business leaders, and what they might mean for you as an investor. That’s all in today’s UK event, Global Economic Outlook.

🇬🇧 UK: Global Economic Outlook – 5pm UK Time, July 21st
🇦🇺 Australia: Women & Money (in-person) – 5.30pm Perth Time, July 22nd
🇮🇳 India: Navigating Financial Risk – 7.30pm Mumbai Time, July 23rd
🇿🇲 Zambia: Millennial Investing – 11am Zambia Time, July 25th
🇬🇧 UK: How the Pros Pick Stocks – 6pm UK Time, July 27th
🌎 Global: Finimize Live AMA – 1.30pm UK Time, July 28th
🇨🇦 Canada: Searching For Financial Stability – 1.30pm Pacific Time, July 28th
🇬🇧 UK: What’s Next For The Global Economy? – 6pm UK Time, July 29th
🇬🇧 UK: The Bright Future for Renewable Energy – 12pm UK Time, July 30th
🇺🇸 USA: Money Behaviors 2020 – 1pm New York Time, July 30th

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📚 What we're reading

RIP John Lewis (CNN)
The rise of fame-hungry chefs (New Republic)
Thick water is as bad as it sounds (Mel)

Finimize - 💰 Alibaba just got richer

Today's big stories

Personal Developm-ant

What’s Going On Here?

What Does This Mean?

Why Should I Care?

China Looks V Promising

🏆 Enjoy the little victories

Hammer Time

What’s Going On Here?

What Does This Mean?

Why Should I Care?

💪 Good habits start with Noom

🔮 Nothing to see here…

🗞 Discover concise, quality journalism with Axios

Older messages

🎟️ New Events: Global Economic Outlook, Financial Risk, & Millennial Investing

📉 Netflix drops 12%

🥤 Pepsi crushes Coke

🎟 New events: IP risk, streaming's future, and how to be anti-racist

🏦 JPMorgan is the best bank ever

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