FT News Briefing Tuesday, April 30
Apr 30, 2019
Google's ad revenue takes a hit, raising eyebrows in the tech world. The We Company considers an IPO as market dynamics shift. Shipping executives propose speed limits to curb emissions, igniting a debate on eco-friendly practices. Meanwhile, a fierce battle unfolds in the U.S. shale oil sector, with Occidental's massive bid for Anadarko sparking intrigue around industry consolidation. The rivalry between Chevron and Occidental highlights the complexities of large acquisitions and insider trading allegations.
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Google Ad Revenue Slowdown
- Google's ad revenue growth slowed to 17%, down from 21% last year.
- Investors worry this might signal decreased demand or increased competition from Amazon.
WeWork IPO Filing
- WeWork, following other tech companies like Uber, Lyft, and Pinterest, has filed to go public.
- This comes after WeWork raised $1 billion, despite $1.9 billion in losses last year.
Shipping Speed Limits
- Maritime executives propose speed limits for commercial vessels to reduce emissions.
- Container ships would have a yearly average speed limit, accommodating peak season demands.