Funding

Tradeweb Markets raises $1.1 billion in its IPO

Source: Tradeweb

Tradeweb Markets, a New York-based electronic bond and derivatives trading platform, raised nearly $1.1 billion in its IPO. The company priced 40 million shares at $27, versus original plans to offer 27.3 million shares at $24-$26, for an initial market value of around $6 billion.

Why it matters: It's the second billion dollar+ IPO in the past two weeks, after a five month drought. It's also a nice IPO rebound for top shareholder The Blackstone Group, after its Alight float fizzled.

Icelandic airline WOW suddenly ceases all operations

WOW Air airbus on the runway
Photo: Nicolas Economou/NurPhoto/Getty Images

Nearly 2,700 have been stranded after WOW Air, a low-cost Icelandic airline, abruptly announced they will be ceasing all operations and grounding all 27 of its airplanes, according to a travel alert on the company's website.

The big picture: WOW Air's chairman, Skuli Mogensen said he was unable to secure funding and had been trying to save his company, which first took flight in 2012, for months. Passengers are being told that other airlines may have reduced rates as a result, and anyone who has purchased a ticket will get a refund. Nearly 1,000 people will lose their jobs, CNN reports.