Six months ago, technology investors were complaining privately that bankers were lowballing stock prices when companies went public. Fast-forward to today; no one should be griping about overly conservative IPO prices. Late Thursday, business software company Okta Inc. sold 11 million shares in its initial public offering. The IPO values Okta out of the gate at about 13.6 times ...

  Victims of tech hype should be a bit wary of Elon Musk’s dismissal of hydrogen fuel cells as “fool cells.” A figure as iconic in the tech industry, Amazon founder Jeff Bezos, appears to disagree. Amazon has acquired the right to buy 23 percent of Plug Power, a Latham, New York-based company that went public back in 1999, has ...

  Bloomberg Dutch national carrier KLM said it favours a ‘liberal’ Brexit deal that would maintain maximum access for UK and continental airlines, after announcing plans to double flights to London City airport starting next month. KLM has held talks with the Dutch government about the split and made clear the importance of safeguarding UK operations, Chief Executive Officer Pieter ...

  Bloomberg The flood of cheap Chinese airfares that’s undoing Cathay Pacific Airways Ltd. is proving a boon for Qantas Airways Ltd. Hong Kong-based Cathay posted its first loss in eight years last month, overwhelmed by pricing competition from mainland rivals including China Eastern Airlines Corp. and China Southern Airlines Co. For Qantas, it’s doing the opposite — bringing a ...

  Bloomberg Delta Air Lines Inc., the second-largest airline in the U.S., canceled about 275 flights and warned that more could be scrapped after severe thunderstorms stymied travel out of the company’s largest hub this week. The airline extended a travel waiver to help customers change flights without fees if their travel plans are flexible, according to a statement posted ...

  DALLAS / AP A Faberge egg and the jeweled elephant designed to fit inside it are being reunited for the first time in almost a century thanks to a loan from Queen Elizabeth II to a Texas museum. A gallery that opens on Monday at the Houston Museum of Natural Science features the elephant, which only recently was discovered to ...

  Bloomberg President Donald Trump is preparing to issue an executive order with the goal of giving oil companies more opportunities to drill offshore, reversing Obama-era policies that restricted the activity. The offshore drilling directive is set to be issued soon, Interior Secretary Ryan Zinke told an industry conference in Washington, according to three attendees who spoke on condition of ...

  Bloomberg The largest disruption to Australian metallurgical coal exports in six years has caused a record surge in spot prices after flooding from cyclone Debbie swamped rail tracks and cut deliveries to ports. Hard coking coal jumped 86 percent to $283.10 a metric ton this week, the biggest gain in data going back four years, according to The Steel ...

  Bloomberg Iran will cut some benefits to Indian state-run refiners on crude purchases after the South Asian country decided to reduce the amount of oil it buys from the Persian Gulf nation, people with knowledge of the matter said. National Iranian Oil Co. will cut the credit period on crude oil sales to 60 days from 90 days for ...

  Bloomberg Source Energy Services Ltd., Canada’s largest distributor of fracking sand, is seeking to raise C$175 million ($130 million) in an initial public offering, reviving the deal after it was postponed last month as oil prices fell, according to people familiar with the sale. The Calgary-based company plans to sell the shares at C$10.50 apiece, down from the previous ...