Bloomberg New entrants to the London ride-hailing market could potentially pose a risk to one of Uber Technologies Inc.’s most profitable markets, according to analysts at Morgan Stanley. Every 400 basis point change in UK rideshare adjusted net revenue would result in a $100 million hit to Uber’s 2020 profit, analysts led by Brian Nowak wrote in a note. The ...

Bloomberg Software maker CrowdStrike Holdings Inc. soared in its trading debut after raising $612 million in one of the biggest-ever initial public offerings for a cybersecurity company. Shares opened at $63.50 in New York and rose as much as 97 percent from their IPO price to $67. The stock closed up 71 percent to $58. That valued the company at ...

Donald Trump doesn’t have to impose sanctions on Russia’s controversial NordStream 2 pipeline to Germany if he wants Europe to buy more US liquefied natural gas. The market is doing his work for him. Increasing competition is already reducing the European Union’s dependence on Russian exports, and US LNG is an increasingly important factor in determining prices. Asked during an ...

China’s overseas M&A isn’t quite dead. But you can forget the acquisition of strategic assets in the West: That $45.5 billion record purchase by China National Chemical Corp. of Swiss agribusiness firm Syngenta AG in 2017 is a thing of the past. With Beijing still worried about capital outflows, and protectionism deepening globally, the value of China’s deals abroad fell ...

The changing nature of food retailing was laid bare last week with lower than expected UK sales growth at Tesco Plc and Amazon.com Inc. expanding its partnership with the smaller British chain Wm Morrison Supermarkets Plc. Amazon’s agreement with Morrisons, while still fairly small right now, shows the ambitions of the online giant toward the UK, already one of the ...

It’s easy to sense signs of strain in the US economy: inversion of the yield curve, lackluster jobs data and an escalating trade war with China. It’s more difficult to gauge when a slowdown turns into a recession. Predicting its severity – mild or monstrous? – is even more difficult. Recent research by the Federal Reserve Bank of St. Louis ...

Pakistan is flirting with a textbook emerging-market crisis. An unsustainable investment boom has ended. The central bank has raised interest rates to squeeze a current account gap. Growth has collapsed to a nine-year low; youth unemployment is in double digits; and inflation is getting there. Government revenues are stalling. Getting Islamabad out of its jam is once again the job ...

Haruhiko Kuroda won’t have it. The widespread notion that the Bank of Japan (BOJ) is out of ammunition is nonsense, according to its governor, who says he still has the capacity to do grand things. Just look at his counterpart at the European Central Bank (ECB). “Like Mario Draghi, I think we can do these things if necessary,” Kuroda said ...

It wouldn’t take much for Apple Inc. to have US-sold iPhones made outside China. Foxconn Technology Group, the primary assembler of the devices, said that it has enough capacity to make all iPhones bound for the US outside of China if necessary. Apple hasn’t given the Taiwanese company such instructions, a senior executive of Foxconn’s listed flagship Hon Hai Precision ...

Bloomberg Rising tensions in the Gulf region aren’t stopping foreign investors from supporting Saudi Arabian stocks, just four years after funds from abroad were first allowed to trade directly in Riyadh. International funds helped contain losses in the final trading session last week, when Gulf stocks were sold off amid escalating tensions in the region. Qualified foreign funds have been ...