Kioxia Holdings Corp <6600.T>, the world's second-largest memory chipmaker, will scrap plans for an initial public offering (IPO) as tensions between China and the United States have been rising, the Nikkei Business magazine reported on Sunday. The reported decision comes after Kioxia earlier this month set a tentative price range for an IPO in Tokyo that put the market value lower than 2 trillion yen (14.86 billion pounds), the price that a Bain Capital-led group paid for the company two years ago. Kioxia, formerly known as Toshiba Memory, had planned to list on the Tokyo Stock Exchange on Oct. 6.
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A judge was set to rule Sunday on whether to allow a Trump administration ban on downloads of popular video-sharing app TikTok, which is seeking an injunction to prevent what it said could be a devastating blow.