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Ina Fried Nov 10
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Gaming hardware maker Razer prices IPO

Razer specializes in computers and accessories aimed at gamers. Photo: Razer

Razer announced Friday it has priced its IPO at roughly 50 cents per share, valuing the consumer tech company at $4.4 billion.Trading in shares on the Hong Kong Stock Exchange will begin Monday.

Why it matters: While tech hardware remains a tough business, Razer has carved a niche for itself focusing largely on computers and peripherals for gamers. It recently released its first phone, using technology and personnel it got by acquiring the assets of NextBit. Having a phone gives it something new and shiny, but the smartphone business is even more brutally competitive than PCs.

Axios 8 hours ago
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Michael Sykes 8 hours ago
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Wells Fargo hit with $1 billion fine for customer abuses

A car sitting parked in front of a Wells Fargo bank
Photo: Justin Sullivan/Getty Images

Wells Fargo is being fined $1 billion by the Consumer Financial Protection Bureau for auto loan and mortgage abuses against their clients, reports the AP, making it the largest fine against a bank dished out by the Trump Administration.

The backdrop: In 2017 it was revealed that the bank was charging customers for car insurance they didn't need, and charging others for missing mortgage payment deadlines to ensure certain interest rates.