Financial Markets
Top stories summarized by our editors
8/16/2019

Barclays is no longer providing banking services to cryptocurrency exchange Coinbase, sources say. They had formed a partnership in March 2018 which allowed Coinbase users the ability to purchase cryptoassets and withdraw their funds in UK pounds.

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Reuters
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Barclays, Coinbase
8/16/2019

The London Metal Exchange could remain one of the last open-outcry hold-outs after a three-month experiment with electronic trading of nickel did not yield compelling results. But an experiment extending the closing zinc session from five to 10 minutes resulted in a 57% increase in average daily volumes, an apparent win for open outcry trading, writes Andy Home.

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Reuters
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London Metal Exchange, LME, Andy Home
8/16/2019

Nurx, a startup that ships birth control medications and devices directly to users, raised $32 million in a financing round that gave it a $300 million valuation. It also obtained $20 million of debt financing.

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TechCrunch
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Nurx
8/16/2019

Cloudfare, a startup that helps websites run as fast and reliably as possible while minimizing downtime, has filed for its initial public offering. The paperwork gives the IPO a placeholder valuation of $100 million, but the figure could be much higher when it comes to the market.

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TechCrunch
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Cloudfare
8/16/2019

UrbanStems, a startup flower delivery service, raised $12 million in its most recent funding round. The company plans to use the new capital to strengthen its position nationally and continue to broaden its product range beyond flowers.

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TechCrunch
8/16/2019

Klang, a Berlin-based online game startup, raised $22.3 million in a funding round led by health care and technology investor Novator Partners. The new capital will be used to develop Seed, a massively multiplayer online space colony simulation.

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VentureBeat
8/16/2019

Twitter led a $100 million funding round for ShareChat, an Indian social media startup that uses regional languages to serve tens of millions of users. The transaction gave ShareChat a $650 million valuation.

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TechCrunch
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Twitter
8/16/2019

The venture capital fund of United Parcel Service, UPS Ventures, has acquired a minority equity interest in the self-driving truck startup TuSimple. UPS has been testing the startup's vehicles since May.

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Reuters
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United Parcel Service
8/16/2019

Over the next few years the demands of new data-intensive technologies will lead to the development of new kinds of semiconductors optimized to perform specialized tasks, according to Navin Chaddha, who leads the venture capital company Mayfield. "I commend the entrepreneurs who are putting the silicon back into Silicon Valley," he writes.

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TechCrunch
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Navin Chaddha
8/16/2019

Sales growth at retailers and restaurants during July suggests US consumers remain confident about the economy. Sales increased 0.7%, after climbing 0.3% in June, according to the Commerce Department.

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The Associated Press
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Commerce Department