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Vroom vroom: CarGurus prices IPO at $16, above the range

Vroom vroom: CarGurus prices IPO at $16, above the range

Finance
Shutterstock photoCarGurus, an online marketplace for buyers and sellers of new and used cars, raised $ 150 million by offering 9.4 million shares at $ 16, above the range of $ 13 to $ 15. CarGurus plans to list on the Nasdaq under the symbol CARG. Goldman Sachs, Allen & Company and RBC Capital Markets acted as lead managers on the deal. The article Vroom vroom: CarGurus prices IPO at $ 16, above the range originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com. Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital, the Renaissance IPO ETF (symbol: IPO) or the Global IPO Fund (symbol: IPOS...
Energy prices could be capped this winter, suggests minister

Energy prices could be capped this winter, suggests minister

Business
A cap on gas and electricity prices could be introduced as early as this winter, Energy Minister Greg Clark has suggested.He told the BBC that the energy regulator Ofgem would receive legal backing from parliament for action on prices.Asked if this could mean action this winter, he replied: "Precisely."But the boss of British Gas-owner Centrica, Iain Conn, warned that price caps could mean the end of cheap deals.On Wednesday, Prime Minister Theresa May revived plans to cap prices, something that was promised in the Conservative's election manifesto but was absent from June's Queen's Speech.Her statement was followed by sharp falls in energy company share prices. But Thursday trading saw a partial recovery, with most up by 1% or more.Mr Clark told the BBC's Today programme: "If they [Ofgem]...
European Equities Mainly Higher as Oil Prices Gain Traction, Telecom Stocks Advance

European Equities Mainly Higher as Oil Prices Gain Traction, Telecom Stocks Advance

Finance
Shutterstock photoEuropean equity benchmarks were mainly higher in early trade on Wednesday as German producer price inflation advanced, oil prices gained traction and telecommunication stocks logged gains.In economic news, Germany's index of producer prices for industrial products rose by 2.6% in August compared with the corresponding month of the preceding year, according to Destatis, Germany's federal statistics office. In July 2017, the annual rate of change had been 2.3% and, compared with the preceding month, the overall index was up by 0.2% in August 2017.Oil prices were also on the rise despite data from the American Petroleum Institute (API), published on Tuesday, indicating that US inventories of oil rose last week. West Texas Intermediate crude oil futures for delivery in Nove...
Sprouts drops nearly 10% as Amazon cuts prices at Whole Foods

Sprouts drops nearly 10% as Amazon cuts prices at Whole Foods

Finance
Shares of Sprouts Farmers Market and other grocery stocks fell again Monday as Amazon.com rolled out price cuts at Whole Foods stores.Sprouts fell nearly 10 percent, Supervalu lost more than 2 percent and Target fell 1 percent. Wal-Mart closed about three-fourths of a percent lower. Kroger trimmed losses to close 0.1 percent lower, while Costco recovered losses to close 0.07 percent higher. The six stocks have erased nearly $ 12 billion from their combined market capitalization since Wednesday's close, the day before Amazon announced it would complete its deal to buy Whole Foods Market on Monday and cut prices on many products, including bananas, organic avocados and organic Fuji apples.On Monday, the price of an organic avocado at a Whole Foods location on New York's Upper East Side was ...
Verizon tweaks prices, cuts video quality on unlimited plans

Verizon tweaks prices, cuts video quality on unlimited plans

Technology
Verizon is raising the price of its unlimited plan while introducing a slightly cheaper, more limited version as wireless carriers battle each other for customers. All major carriers now offer unlimited plans after years of steering people toward paying extra for using more data. Verizon, like its rivals, will start charging more for higher-quality video while hoping to attract cost-conscious customers with a cheaper plan. Verizon's unlimited plan had cost $ 80 a month for one line for those who sign up for automatic payments with a checking account or debit card. Beginning Wednesday, it'll cost $ 85 with high-definition video — capped at 720p for phones. Plans with DVD-quality streaming will cost $ 75. For a family of four, the higher-quality version costs $ 200 a month; the cheaper plan