FT News Briefing Friday, April 26
Apr 26, 2019
Uber is shaking things up by lowering its share price range ahead of its IPO. Meanwhile, Amazon is racing to slash shipping times to just one day for Prime members. In the banking world, the merger talks between Deutsche Bank and Commerzbank have collapsed, leaving both in a tight spot. Turning to Spain, the political scene is heating up as a polarized electorate prepares for a general election, with five parties vying for power and an uncertain outcome on the horizon.
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Uber IPO Price Lowered
- Uber is lowering its IPO share price range from $48-$55 to $44-$50.
- This could result in a valuation between $80B and $90B, making it the second-largest U.S. tech IPO after Facebook.
Amazon's One-Day Shipping
- Amazon plans to reduce Prime shipping times to one day, boosting online shopping.
- This initiative will cost $800M in Q2 and may impact operating profit.
Deutsche Bank and Commerzbank Merger Failure
- Merger talks between Deutsche Bank and Commerzbank have collapsed due to numerous obstacles.
- Both banks, struggling since the financial crisis, sought the merger to cut costs and address revenue losses.