FT News Briefing Friday, May 10
May 10, 2019
Tensions rise as the U.S. and North Korea engage in missile discussions, stirring diplomatic concerns. Meanwhile, trade talks between the U.S. and China heat up amid the threat of tariffs. A London advisory firm is poised to earn a staggering $27 million from Barbados’s debt restructuring. Additionally, excitement builds around Uber's upcoming IPO, with insights into market reactions and the competitive ride-sharing landscape.
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Uber's IPO Pricing Reflects Market Caution
- Uber's IPO priced shares at $45, near the bottom of its expected range.
- This lower valuation reflects market caution and the poor performance of Lyft's shares.
Long-Term Investor Interest in Ride-Sharing Companies
- Uber's lower IPO price aims to avoid the stock trading below its initial price, unlike Lyft.
- The long-term investor interest depends on Uber's ability to prove its platform model beyond ride-hailing.
North Korea Missile Tests
- President Trump expressed concern over North Korea's missile tests, calling them "short-range."
- This followed the U.S. seizure of a North Korean freight ship for sanctions violations.