China’s Lufax Pursues U.S. IPO

China’s Lufax Pursues U.S. IPO

Chinese online wealth management firm Lufax Holding Ltd is seeking an initial public offering in the United States and list American Depositary Shares on the New York Stock Exchange. What Happened: The company, backed by Ping An Insurance (Group) of China, has not disclosed the size of the offering but proposed a placeholder amount of […]

IBM to Spin Off Infrastructure Unit

IBM is spinning off its managed infrastructure services unit into a new public company. In a statement, the company said the move would help accelerate its hybrid cloud growth strategy and drive digital transformation. “IBM is laser-focused on the $1 trillion hybrid...

Weekly Jobless Claims Fall Slightly to 840,000

The number of Americans who applied for jobless benefits last week fell less than expected as the pace of the labor market’s recovery from the coronavirus pandemic continues to slow. The Labor Department said initial jobless claims filed through state programs slid to...
CFOs On the Move: Week Ending October 9

CFOs On the Move: Week Ending October 9

Ann Gugino Papa John’s appointed Ann Gugino chief financial officer. Gugino joins the pizza chain from Target, where she was most recently senior vice president of financial planning and analysis. Before that, she spent 18 years at medical supplies company Patterson...