Welcome to another edition of Under60 Daily - a brief rundown of the top happenings in the business world, curated by hand to exclude the clutter and ensure you get up to speed in under a minute.
[LIBOR] With the one-week and two-month US Dollar LIBOR set to terminate by the end of 2021, the IBA has decided to extend the publication of its other US Dollar LIBOR rates till June 30 2023. The benchmark rate underpins nearly $200 trillion in financial contracts.
[Bankruptcy] Talks between JD Sports and troubled retail firm Debenhams have broken up. This could result in 12,000 jobs being lost, as the company had filed for administration in April 2020. Similarly, rival firm Arcadia had recently filed for administration.
[C-Suite] Swedish buy now, pay later firm Klarna has roped in Silicon Valley venture capitalist Michael Moritz as its Chairman. The move comes as Klarna continues to expand its U.S. operations and potentially being labeled as a bank ahead of an IPO.
[Commodities] After a fresh bull call by Goldman Sachs on the back of encouraging economic data, the price of Copper hit $7,719 per tonne on the London Metal Exchange. The price has hit its highest level in seven years.
[IPO] Airbnb plans on listing in the U.S. before Christmas, setting a target of raising $2.5 billion via its IPO. With an initial price band of $44-$50 per share, the company plans on listing with a greenshoe option, which will allow the company to raise an additional $250 million, taking the total listing proceeds to $2.75 billion.