CK Hutchison Unit Launches Arbitration Against Panama Over Port Concessions Ruling 
Asian Currencies Strengthen as Indian Rupee and Australian Dollar Rally 
China Services PMI Hits Three-Month High as New Orders and Hiring Improve 
Fed Governor Lisa Cook Warns Inflation Risks Remain as Rates Stay Steady 
Nintendo Shares Slide After Earnings Miss Raises Switch 2 Margin Concerns 
Asian Markets Slip as AI Spending Fears Shake Tech, Wall Street Futures Rebound 
US-India Trade Bombshell: Tariffs Slashed to 18% — Rupee Soars, Sensex Explodes 
China and Uruguay Strengthen Strategic Partnership Amid Shifting Global Order 
U.S. Stock Futures Edge Higher as Tech Rout Deepens on AI Concerns and Earnings 
Japan Services Sector Records Fastest Growth in Nearly a Year as Private Activity Accelerates 
NRW Holdings Shares Surge After Securing Major Rio Tinto Contract and New Project Wins 
Tencent Shares Slide After WeChat Restricts YuanBao AI Promotional Links 
Novo Nordisk Warns of Profit Decline as Wegovy Faces U.S. Price Pressure and Rising Competition 
SpaceX Pushes for Early Stock Index Inclusion Ahead of Potential Record-Breaking IPO 
Nvidia, ByteDance, and the U.S.-China AI Chip Standoff Over H200 Exports 
South Korea’s Weak Won Struggles as Retail Investors Pour Money Into U.S. Stocks 
Palantir Stock Jumps After Strong Q4 Earnings Beat and Upbeat 2026 Revenue Forecast 
Paypal is set to buy Pinterest for $45 billion and this was revealed by sources who are familiar with the deal. On Wednesday, Oct. 20, it was reported that the financial technology company specializing in money transfers worldwide made an offer to acquire the image-sharing platform.
According to Reuters, the acquisition deal is per share price and this would represent a 26% premium to Pinterest's Tuesday’s closing price of $55.58. PayPal will mostly be financing the purchase through stock.
Then again, both PayPal and Pinterest could not immediately issue a response to inquiries regarding the rumored acquisition. The insiders who shared the news requested to remain anonymous as they said the negotiations are still confidential at this time.
The reports of the deal surfaced just a week after Evan Sharp, Pinterest’s co-founder, revealed his plans to step down from the company and move to LoveFrom, the creative collective company founded by Jony Ive who is a British-American product designer and was Apple inc. chief design officer.
Sharp along with Ben Silbermann and Paul Sciarra founded the online scrapbook and photo-sharing platform in 2009. The latter already left the company a long time ago before Sharp did, in 2012.
At any rate, CNBC reported that the negotiation for PayPal’s acquisition of Pinterest is in the last phase already. However, Paypal and Pinterest have yet to officially confirm the news.
It was added that competitive pressure from Shopify was what pushed PayPal to consider the purchase of Pinterest. The e-commerce platform has invested in becoming the exclusive provider or point-of-sale financing for Shopify’s checkout service called Shop Pay and this could rival PayPal that has largely benefited from online shopping since the COVID-19 pandemic started around the world.
Meanwhile, as per CNN Business, the stock price of Pinterest went up on Wednesday after the news of Paypal’s potential acquisition emerged. It was said that shares of the company jumped to nearly 12% in the morning of Oct. 20. On the other hand, the reports have a different effect on PayPal as its stock price reportedly dipped instead of surging as well.
