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Instacart Secretly Files to Go Public

Instacart, the American firm popular for its grocery delivery and pick-up services, has filed a confidential filing with the U.S. Securities and Exchange Commission (SEC) to go public via an initial public offering (IPO). During the pandemic, Instacart's growth soared as stuck-at-home customers flocked to its doorstep delivery services, but because of recent contemporary volatility, the company was forced to slash its valuation by roughly 40% to over $24 billion in March. In the statement, the San Francisco-based startup provided no information about the size or timing of its market debut.


At its June monetary policy meeting, India's central bank is expected to enhance its inflation projection for the current fiscal year and contemplate further interest rate hikes, according to a source familiar with the situation. Following an emergency meeting earlier this month, the Reserve Bank of India (RBI) lifted the repo rate by 40 basis points (bps) to 4.40%, its first-rate adjustment in two years and its first hike in nearly four.

The weekly inflation rate in Russia fell further in early May, according to figures released by the statistics office Rosstat on Wednesday, after escalating substantially shortly following Russia’s launch of a "special military operation" in Ukraine on February 24th. The central bank cut its key interest rate from 17% to 14% in April, hand-in-hand with its statement that it saw the potential for future cuts as it tries to manage a declining economy and skyrocketing inflation, and current inflation is moderating.


The U.S. dollar rose on Thursday morning after U.S. inflation dropped less than predicted, leaving the Federal Reserve on track to aggressively tighten monetary policy. Such initiatives are likely to push the value of the dollar greenback even further. The U.S. Dollar Index, which measures the value of the greenback against a basket of other currencies, rose 0.16% to 103.980.


Gold was down in Thursday’s early hours, amid investors analyzing the U.S. consumer price index (CPI), which portrayed that inflation is still solid but has peaked in April, alleviating fears about the Federal Reserve raising interest rates more aggressively. Gold futures were up by 0.20% to price at $1,841 per ounce.


Oil prices declined over 1% in Thursday’s early trading session, capping a turbulent week in which economic concerns and fears of a worldwide recession outweighed supply concerns and geopolitical tensions in Europe. Brent futures slipped by 1.31% to $106.08 a barrel, and WTI oil futures dropped by 1.51% to $104.08 per barrel.


USA: S&P500 -1.65%, Dow Jones Industrial Average -1.02%, Nasdaq Composite -3.06%

Europe: FTSE 100 +1.44%, DAX +2.17%, CAC 40 +2.50%

Asia: Nikkei 225 -1.77%, Hang Seng -2.02%, CSI 300 -0.36%, Nifty 50 -2.00%


Moderna May Charge $130 for its COVID Vaccine in USA

Moderna president Stephen Hoge said in an interview on Monday that the company expects to price its COVID-19 vaccine in the United States at around $130 per dose in the future as government purchases shift to the private sector.

Hoge stated this in advance of a Congressional hearing on Moderna's pricing strategies chaired by Democratic U.S. Senator Bernie Sanders. "There are different customers negotiating different prices right now, which is why it's a little bit complicated," he added.

Credit Suisse Takeover and Central Bank Action Calms Tense Markets

Market confidence increased on Monday as a result of government efforts to prevent a global banking crisis. Investors welcomed the historic Swiss-backed purchase of troubled Credit Suisse by UBS Group as well as the emergency dollar liquidity provided by leading central banks.

UBS will pay 3 billion Swiss francs ($3.23 billion) for the 167-year-old Credit Suisse Group AG and take on up to $5.4 billion in losses as part of a deal arranged by Swiss regulators on Sunday.

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