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Delivery giant DoorDash plans IPO

Delivery giant DoorDash plans IPO

Technology
Delivery giant DoorDash Inc. is planning to sell its stock to the public, capitalizing on the growing trend of consumers embracing app-based deliveries as much of the world stays home during the pandemicBy CATHY BUSSEWITZ and TOM KRISHER AP Business WritersNovember 14, 2020, 3:41 PM• 4 min readShare to FacebookShare to TwitterEmail this articleNEW YORK -- Delivery giant DoorDash Inc. is planning to sell its stock to the public, capitalizing on the growing trend of consumers embracing app-based deliveries as much of the world stays home during the pandemic.The San Francisco-based company filed papers signaling its intent for initial public offering Friday.“Technology has changed consumer behavior and driven a wave of demand for convenience,” the company said in its prospectus. “Recent event...

Here’s why Powerball and Mega Millions jackpots aren’t reaching giant amounts anymore

Finance
A customer shows purchased tickets for the Powerball lottery at a lotto store in San Bernardino County, California, January 9, 2016.Gene Blevins | ReutersIf you're one of those people who only buys a lottery ticket when the jackpot climbs into the stratosphere, you could be waiting a while.The Mega Millions jackpot for Tuesday's drawing is $ 86 million, and Powerball's top prize is $ 91 million for its drawing on Wednesday. While those would be life-changing windfalls for most winners, the amounts pale in comparison to some claimed in the past — including two worth more than $ 1.5 billion, one each in 2016 and 2018.On the heels of pandemic-related stay-at-home orders and shutdowns earlier this year, officials for both games announced in early April that starting jackpots would no longer...

Chinese wealth management giant Lufax files for U.S. IPO

Finance
A logo of of Lufax website Lu.com, is seen at the company's headquaters on May 28, 2020 in Shanghai, China.Wu Jun | Visual China Group | Getty ImagesGUANGZHOU, China — Lufax, one of China's biggest wealth management platforms, has filed to go public in the U.S., amid a flurry of capital market activity by Chinese companies. The Shanghai-headquartered firm, which is backed by financial giant Ping An Group, plans to list on the New York Stock Exchange under the ticker "LU," according to a filing with the Securities and Exchange Commission.Lufax has not yet priced its shares or said how many it will offer during the listing.Chinese technology companies have been looking to take advantage of a rebound in stock markets to go public, including on Wall Street, despite the geopolitical tensio...
GE: Industrial giant will stop building coal-fired power plants

GE: Industrial giant will stop building coal-fired power plants

Business
In a dramatic reversal, one of the world's biggest makers of coal-fired power plants is to exit the market and focus on greener alternatives.US industrial giant General Electric said it would shut or sell sites as it prioritised its renewable energy and power generation businesses.It comes ahead of a US Presidential election in which the candidates hold starkly different views on coal.NGO the Natural Resources Defense Council said the move was "about time".GE has said in the past it would focus less on fossil fuels, reflecting the growing acceptance of cleaner energy sources in US power grids.But just five years ago, it struck its biggest ever deal - paying almost £10bn for a business that produced coal-fuelled turbines. 'Attractive economics'In a stateme...
Paleontologists find giant lizard in stomach of a prehistoric marine carnivore

Paleontologists find giant lizard in stomach of a prehistoric marine carnivore

Science
Aug. 20 (UPI) -- Until now, scientists thought ichthyosaurs -- the large, dolphin-like marine reptiles that cruised the seas of the Mesozoic -- mostly ate cephalopods. "Many of the large ichthyosaurs have blunt teeth that look more suited for squid-eating than megapredation," researcher Ryosuke Motani, professor of paleobiology at the University of California, Davis, told UPI in an email. "That is why we thought they were squid eaters." Advertisement But recently, Motani and his research partners discovered the well-preserved remains of a lizard-like aquatic reptile called a thalattosaur inside the stomach of Middle Triassic ichthyosaur. The fossil, described Thursday in the journal iScience, represents the oldest record of megafaunal predation by a marine reptile. "We have to readjust ou...