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The U.S. dollar is pointing higher on Tuesday. The greenback is slightly higher against the Canadian dollar, while the pound has lost some ground against both the U.S. dollar and the euro.
Chatter on trade remains the key driver, with negative updates from Beijing weighing on risk appetite early. The RBA added further pressure on the Aussie.
(Bloomberg) -- Some of the least-loved stocks to make their debuts this year are rallying on Monday as the S&P 500 Index hovers in record territory.Fitness company Peloton Interactive Inc. gained 11% to a record high, closing above its IPO price of $29 for the first time. At its low last month, the stock was down 27% from its September IPO price, after falling amid concerns over its path to profitability. Lyft Inc. rose 4.2%, to its highest in almost two months, after picking up corporate clients in a deal with rival Juno, which is closing its New York-based operations. While the stock has fallen 38% from its March initial public offering, the share have added 10% since Sept. 30, on track for its first quarterly gain.Slack Technologies Inc., down about 40% from a record set on its first day of trading in June, held onto a gain of 1.1% on Monday. Shares of the workplace-collaboration software company are on a record winning streak after advancing for five consecutive days. Pagerduty Inc., meanwhile, traded above its initial offering price for the first time since October but is still down more than 50% from a June record.To contact the reporter on this story: Jeran Wittenstein in San Francisco at email@example.comTo contact the editors responsible for this story: Catherine Larkin at firstname.lastname@example.org, Courtney DentchFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
If you're interested in Mimecast Limited (NASDAQ:MIME), then you might want to consider its beta (a measure of share...
(Bloomberg) -- Zayo Group Holdings Inc., the fiber network owner that Digital Colony Partners and EQT Partners agreed to acquire in May, is seeking a buyer for its colocation arm, according to people familiar with the matter.The business, Zayo Colocation, or zColo, could fetch about $1 billion in a sale, said one of the people, who asked to not be identified because the matter isn’t public. Zayo is working with an adviser to solicit interest from prospective suitors, which include infrastructure funds, they said.Representatives for Zayo, EQT and Digital Colony declined to comment.zColo, with 51 facilities, provides data center and cloud infrastructure services to enterprise, carrier and content customers, according to Zayo’s website. The segment generated $113 million in adjusted earnings before interest, taxes depreciation and amortization during the 12 months ended Sept. 30, according to data compiled by Bloomberg.It could sell for about 10 times annual Ebitda, the people said.Interest from investors in data centers has been climbing, partly due to the perception the sector is both a defensive and growing part of the real assets universe. Data center real estate investment trust Digital Realty Trust Inc. last month agreed to buy Interxion Holding NV for roughly $7.15 billion.To contact the reporters on this story: Gillian Tan in New York at email@example.com;Nabila Ahmed in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Alan Goldstein at email@example.com, ;Liana Baker at firstname.lastname@example.org, Matthew MonksFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Investors in Tenable Holdings, Inc. (NASDAQ:TENB) had a good week, as its shares rose 3.0% to close at US$26.86...
In a sustained pursuit of innovation, Ciena (CIEN) continues to facilitate network providers to offer more connected experiences for their customers.
The Pound makes an early move, supported by the latest opinion polls. The ECB Financial Stability Review and Trade will also influence.
Magna International Inc (TSX:MG) appears to be an excellent way to gain exposure to the fast growing self-driving car market and could provide outsized returns relative to the S&P 500 Composite Index.
Qualcomm's (QCOM) fourth-quarter fiscal 2019 and CenturyLink's (CTL) third-quarter 2019 revenues surpass the Zacks Consensus Estimate despite declining year over year.
The rise of private investment is a “terrible problem” for everyday investors cut out of companies’ strongest returns, says top venture capitalist Ben Horowitz.
The British and Canadian currencies are almost unchanged on Friday. We could see some movement with the release of U.S. retail sales at 13:30 GMT.
The economic calendar shifts focus to the U.S Dollar. Following Powell’s positive outlook on the economy, retail sales will need to impress…
(Bloomberg Opinion) -- Your mother probably told you never to get in a car with a stranger. The multibillion-dollar global ride-hailing industry depends on your ignoring her. If they want to earn that trust, though, companies need to rethink the tradeoff they’ve long made between safety and cost.Around the world, passengers are now hailing more than 10.5 billion rides a year. Not surprisingly, some have ended in tragedy. Uber Technologies Inc. came under fire in India after a 26-year-old woman was raped by one of its drivers in 2014, and local rival Ola has faced a similar backlash. In the U.S., Lyft Inc. has been sued by multiple women who say drivers sexually assaulted them.Last year, within the span of three months, two female passengers were murdered by drivers of China’s ride-sharing company, Didi Chuxing Inc. Didi’s Hitch carpooling service once was marketed almost as a cross between Uber and Tinder: a taxi service that let drivers and passengers rate each other by appearance. Didi halted Hitch in August 2018 after an outpouring of anger from state media, regulators and China’s version of deleteuber.Last week, Didi announced plans to restart Hitch on a trial basis in seven Chinese cities by the end of the month. The decision follows a “comprehensive safety review and product revamp,” as well as the introduction of a new women’s safety program that includes better “risk analysis” and an updated in-app security assistant. Didi plans to spend 2 billion yuan ($285.5 million) on safety measures this year, including more frequent use of facial-recognition technology — to ensure drivers are who they say they are — and a deeper review of abnormal driving patterns, as well as more regular safety tests for drivers.But the key to the Hitch relaunch were new restrictions on the program. The service was to be limited to trips under 50 kilometers (31 miles) and women would only have been able to ride between 5 a.m. and 8 p.m. By contrast, men could keep riding until 11 p.m. After an online backlash, the company revised the service to run only until 8 p.m. for both men and women.While the company’s intentions were good, more obviously needs to be done. A sophisticated analysis of high-risk scenarios won’t help you if you’re stuck in the backseat within an inch of your life. And to assume that a woman will only be raped and murdered between the hours of 8 p.m. and 5 a.m. more than 30 miles from her pickup point is clearly a bit naïve.What the ride-hailing industry in China and elsewhere really needs to do is reexamine who’s allowed to drive in the first place. It’s hard to say whether the measures Didi is now implementing would have screened out Zhong Yuan, the 28-year-old Hitch driver who was executed in August for murdering his 20-year-old passenger. After passing background checks and providing documentation, you can still become a Didi driver in 10 days or less.Instead, companies should be raising the barriers to entry so they’re hiring fewer, better drivers. And if they won’t, governments should step in. In Malaysia, regulators now require aspiring drivers to pass written exams and health checks, and to register for specific permits. Roughly a third of applicants have failed the exam thus far, Transport Minister Anthony Loke said last month, and more than 20% of Grab drivers have reportedly quit to avoid complying with the stricter regulations.Singapore imposed new rules earlier this year to bring ride-hailing companies closer in line with taxi operators. The regulations were proposed less than a week after my Bloomberg News colleague Yoolim Lee wrote about a Grab accident that left her with a broken neck and at risk of stroke. She estimated that, around the time of the incident, nearly half of private-hire drivers in the city didn't have the proper license and shouldn't have been driving. While fewer drivers doesn’t necessarily mean safer drivers, a steeper commitment at least means they have a lot more at stake to protect their livelihoods.The genius of the gig economy is the ability to make money from underutilized, ubiquitous skills. Yet the model may have been taken too far. Just because you can make an omelet doesn’t mean you should run a diner. So why should you drive professionally just because you have a license?Shrinking the supply of drivers will obviously make rides more expensive. But it’s worth judging the prospect of higher prices against the long cycle of the internet economy. The Web has made everything from academic research to air travel cheaper and easier to access. At the same time, quality goods and services can’t be free forever: We’ve seen this in the news business, where websites that once offered unfettered access to their journalism (including Bloomberg.com) have implemented paywalls. If fewer drivers means safer rides, that’s a price most people should be willing to pay. (Corrects fifth and sixth paragraphs to show Didi revised its initial policy. )To contact the author of this story: Rachel Rosenthal at email@example.comTo contact the editor responsible for this story: Nisid Hajari at firstname.lastname@example.orgThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Rachel Rosenthal is an editor with Bloomberg Opinion. Previously, she was a markets reporter and editor at the Wall Street Journal in Hong Kong. For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.