Luckin Coffee eyes U.S. relisting as five-year turnaround from fraud scandal takes hold

Luckin Coffee eyes U.S. relisting as five-year turnaround from fraud scandal takes hold

Key Points Luckin Coffee CEO Jinyi Guo said the company is preparing to relist in the U.S. The Xiamen-headquartered coffee chain was booted from the Nasdaq in 2020 after admitting to fabricating $310 million in 2019 revenue. Backed by top investor Centurium Capital, Luckin has rebounded to become China’s biggest coffee retailer, overtaking Starbucks, and…

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Nifty 50, Nikkei 225, Kospi

Nifty 50, Nikkei 225, Kospi

Lujiazui Business Districk in Pudong, Shanghai, China. Liqun Liu | Construction Photography | Hulton Archive | Getty Images Asia-Pacific markets mostly rose Wednesday, after Wall Street traded mixed on hopes that the record-setting U.S. government shutdown could be nearing an end and AI trade stumbling. Japan’s benchmark Nikkei 225 fell 0.26%, while the Topix added…

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