no easy ride as a result for its ninety billion dollar i.p.o. new york the company's drivers are striking for fairer conditions are around the world. also on the show detained while waiting executive at magh one joe tries to avoid extradition to the u.s. in court while washington wraps up the rhetoric against the chinese tech supplier. and belt tightening during ramadan soaring prices in algeria mean many families are struggling to afford the traditional sunset feast after fasting. welcome to business i'm joined on. in berlin thank you very much for joining us over drivers in australia the united states england and south america have gone on strike they say they want to send a message to before it becomes a publicly traded company on friday they're striking for livable incomes job security and regulated fares to date it's the biggest internationally coordinated effort against the right hailing start up. as a funny saying just has been driving for since twenty fifteen. but today she switched off her app and went on strike. because of the low rates super p

i.p.o. in new york the company's drivers are striking for fairer conditions are around the world. also on the show detained while away executive a man one joe tries to avoid extradition to the u.s. in court while washington wraps up the rhetoric against the chinese taxi. flyer. and belt tightening during ramadan soaring prices in algeria mean many families are struggling to afford the traditional sunset feast after fasting. bookham to d.w. business i'm joined now on in berlin thank you very much for joining us over drivers in australia the united states england and south america have gone on strike they say they want to send a message to before it becomes a publicly traded company on friday they're striking for livable incomes job security and regulated fares to date it's the biggest internationally coordinated effort against the ride hailing startup. as defined the same just has been driving for since twenty fifteen but today she switched off her app and went on strike. because of the low rates pays she can no longer make ends meet. live for us. who are as good as i could i was a

i.p.o. in new york the company's drivers are striking for a fairer conditions are around the world. also on the show detained while waiting executive bagwan joe tries to avoid extradition to the u.s. in court while washington wraps up the rhetoric against the chinese tech supplier. and belt tightening during ramadan soaring prices in algeria the many families are struggling to afford the traditional sunset feast after fasting. bunkum to d.w. business i'm on in berlin thank you very much for joining us over drivers in australia the united states england and south america have gone on strike they say they want to send a message to before it becomes a publicly traded company on friday the striking for livable incomes job security and regulated fares to date it's the biggest internationally coordinated effort against the ride hailing start up. as tiffany saying just has been driving for her since twenty fifteen. but today she switched off her app and went on strike. because of the low rates or pays she can no longer make ends meet. well for us. you know it was good that i could i was ab

news that matters d. w. made from minds. believe. it's one of the biggest i.p.o. has ever right hailing platform goes public in new york the launch that's raked in eight billion dollars but will over drivers in africa get a better deal out of it and is the economy helping african economies. also well the u.s. and china managed to trash out as last minute trade agreement a tense talks break off for friday in washington the usa says they were quote constructive but fresh u.s. tariffs hit china today and plays jane has promised to hit back. also amazon's blue horizon space rockets are aiming for the moon getting ready to deliver and no one's ever delivered before. this is his africa on the w m god help us in berlin welcome in new york stock exchange opens to usher in the year's big i.p.o. and investors have been jumping into to go along for the ride shares in the ranking company initially promised lower than expected forty five dollars per share but still raising over eight billion dollars cautious stock may have been driven by doubts about the ability of writing services to actually make money. global expansion is also l

news is even worse than it looks when we compare i.p.o. results to other sort of tech peers. facebook lift and snap the new york times pointed out that they all popped you know had this tech pop of roughly 1020 percent i should say after their i.p.o.'s why isn't delivering not seem to pop and that's designed it suggests there's more fundamental weakness in that hasn't yet been processed in the prevailing market attitudes. honestly i think that it has to do with a lift so i mean i think that lift was so hyped up the lift was the one that came in 1st you know out of the 2 companies and because lift has been in the news over the course of the past several weeks and all it has done is basically trade straight lower i think that it really tainted as i.p.o. and so people coming in now today looking out over they say who were lifted their very similar we've seen what lift has done to i really want to put my money and hoover and honestly i think that's what's happening here with over today and. one other thing happening this week is the strike that happened drivers going on strike do you think that had anything to do o

i.p.o.'s of all time question salumi reports from new york. every. hoover app has changed how people get around a bailable in sixty three countries and seven hundred cities around the world its name has become synonymous with brian haley and now hoover is looking to raise money on the new york stock exchange its initial public offering is likely to make billions of dollars for founder travis calendaric and other early investors including the saudi arabian public investment fund this looks always to be the i.p.o. of the year for that said the recent public offering of lift closes competition fell short of expectations and lowered its valuation estimate in the lead up to the sale like lift has yet to make a profit in fact it's lost more than a billion dollars already this year and the whole the sort of grail in the valley has been growth growth growth growth growth growth growth growth growth i think that's beginning to i think losing money on a whole bunch of i.p.o.'s where the growth story is great and the route to profitability is uncertain is start

i.p.o. on friday the call to action came from the new york taxi workers association and white teeth of the a member sarong lama said in a press release in the i.p.o. filing over said drivers will only get more dissatisfied because they plan to cut our pay and stop incentive is the gig economy is all about exploiting workers by taking away our raw. it's it has to stop hoover is the worst actor in the gig economy drivers plan to sign out of the ride hailing apps for a relatively short work stoppage from seven to nine am this morning the n.y.t. w.a. posted three strike demands including an end to unfair the activations of drivers and adjustments to the so-called upfront price these schemes to guarantee that eighty five eighty to eighty five percent of fares go to drivers. and here to get us further and say into the world of ride hailing and automobiles we welcome back lauren fix the car coach hi lauren. hello so on the back of less i.p.o. and now over do we see car pocalypse approaching they're making car ownership also elite and we're moving towards a transportation as a service kind of a mode

venezuela's economic crisis the right ailing apple over a prepares to debut on the new york stock exchange with the most hotly debated i.p.o. in the year is and the world rally championship breaks new ground. snowed for hours in the european alps covering up the roads some which have been scraped only a few days ago when you didn't expect much snow this time the end is certainly moved and this massive cloud now of course is giving re not snow is going to keep moving eastwards to give a disappointing day for germany through austrian down towards the black sea after it will move a bit vienna's up to about twenty degrees but guess what's happening next that's quite spelman london fifteen degrees juric at sixteen but the next storm is already winding up and bring your northerly wind with it talking about in behind the temps will drop again so what's more we're down to low teens windy and quite often wet weather for france germany down through sort of this role of being spread in portugal the warm stays on here and probably will stay around the twenty mark from austria. sas was as well but a good part of europe it's still what

and nine let's get the latest from christine salumi at the new york stock exchange for is christian a lot of anticipation ahead of this i.p.o. why so much excitement over a company that has yet to be profitable. yeah maybe too much excitement as we saw with those opening trades falling below expectations coming in around forty two dollars a share as opposed to the forty five dollars that was set for the opening price look it's a difficult day on wall street in general with trade concerns weighing down the markets overall and there's been a lot of questions about. his business model going forward and whether or not it will ever become profitable this is a company that has lost one billion dollars so far this year alone last year it lost three billion dollars in revenues that eleven billion dollars but it's also a company that has continued to grow the name has become synonymous with ride to hayling in the company says look we're doing a lot of things that haven't been done before not just right handling we're investing in driverless cars and scooters we've got this. food delivery service which is going great so they're count

i.p.o.'s of all time christmas salumi reports from new york. hoover app has changed how people get around available in sixty three countries and seven hundred cities around the world its name has become synonymous with brian haley and now hoover is looking to raise money on the new york stock exchange its initial public offering is likely to make billions of dollars for founder travis calendaric and other early investors including the saudi arabian public investment fund this looks always to be the i.p.o. of the year for that said the recent public offering of lift closes competition fell short of expectations and lowered its valuation estimate in the lead up to the sale like lift has yet to make a profit in fact it's lost more than a billion dollars already this year and the whole the sort of grail in the valley has been growth growth growth growth growth growth growth growth growth i think that's beginning to i think losing money on a whole bunch of i.p.o.'s where the growth story is great and the route to profitability is uncertain is starti

new york. it was the most highly anticipated i.p.o. of the year but debut disappointed in the end with its stocks closing down some 8 percent over their initial public offering price of $45.00 a share investors seem to have some questions about members' road to profitability the company continues to grow and expand but has yet to make a profit in fact it's lost more than a 1000000000 dollars this year already protests earlier in the week by drivers only raise more questions and concerns about their business model and lift numbers close as competitor went public back in march and its stock has also fallen it has not performed up to expectations either all of that seem to be weighing on investors the i.p.o. valuation for was $82400000000.00 it's still one of the highest valuations for a public company ever in the united states but it didn't live up to expectations. still ahead on the news down beijing stop the countdown to the winter olympics for the details in school. the world's oldest and most celebrated off event on bins and sunday o

thousand and nine worth more than we can join kristen salumi who's in new york for us i mean a lot of anticipation really leading up to this i.p.o. why so much excitement over a company that has yet to make a profit. well so the name has become synonymous with ride handling the technology company is a pioneer that has changed the transportation landscape around the world in more than seven hundred cities it's now in sixty three countries so and really it's not unusual for a company to company to be losing money when it goes public for the first time they do this after all to raise money from investors to put back into the company but the amount that they're losing has raised some eyebrows there valuing the company at eighty two billion dollars but they've already lost more than a billion dollars this year they say that's because it's expensive what they're doing they need to incentivize drivers and riders and so on and they're doing things that have never been done before this is the company's explanation for why it may take them as much as ten years to become profitable they're not only dealing with these ride howling apps they

the new york stock exchange has ushered in the year's big i.p.o. and investors have been jumping into to go along for the ride shares in the writing company were initially priced in those expensive forty five dollars a share but still raising more than a billion dollars course the stock may have been driven by doubts about the ability of rival services to actually make money. for the last ten years the company has posted only losses ever since it was founded and of course it's no stranger to controversy. it seems controversy has constantly tell gaited since the company was founded ten years ago the disruptive startup has put taxi drivers around the world in terror of losing their livelihoods leading to protests in the u.k. spain and poland where last month parliament elected a bill to legalize the ride hailing upstart and other based car hire firms and if they could if you could we feel we're discriminated against we have to get licenses pay pension contributions we have to set up a company to work and we have other costs in contrast the illegal ca

i.p.o. including therapy and the cath post meets, slack and cloud fire the new york times warns that san francisco will drown in millionaires and let offend acquired that post- i.p.o. employees alone could buy every home currently on the market in the city. we have seen the aftermath when the major startups go public before, hinting at thousands of millionaires and billionaires overnight. this tech i.p.o. earthquake beginning to shake our city is unprecedented in scope, and it is also not an accident or natural occurrence. over the past decade, the city enacted policies to grow the tech sector in our safety three tax cuts and exemptions. these policies have been extremely effective and, dominates our economy and the sector has added over 100,000 jobs, high-paying jobs in recent years. the boom field by tax breaks has also been a primary cause of so many of the major challenges we are now grappling with as a safety and as a board including wealth and equality, housing affordability, gentrification, homelessness and traffic congestion. these ipos also aren't happening in a vacuum, but in a city with

demonstrations come just days before the company lists its shares on the new york stock exchange brennan has more from london. movers i.p.o. on friday expects to raise between forty five to fifty dollars a share that will raise some nine billion dollars for the company and valued the overall company at night to billion dollars and that's going to make some rich man either a judge of his colonic the company's founder with his eight point six percent stake that will be valued around eight billion dollars but jeff bezos the found another i was on he invested some three million dock in the day that will be valued somewhere in the original form a good million dollars if this i.p.o. goes to black the protesters here outside of us love that headquarters on happy that the riches being enjoyed by the executive simply not filtering down to the drivers this is a message we need to see. the public investor synchrony but that's not acceptable if they want to find profitability they're going to need to find a way of achieving that without exploiting workers the protesters are most unhappy that the way the business model works is to agg

how much the online retailer will raise this time in 2014 it went public in new york and set a world record for the largest i.p.o. raising to $25000000000.00 additional funding could help defend its business against rival tencent holdings trying a 2nd most valuable company known for its video games and social media businesses the secondary listing would also help to diversify funding channels and add liquidity this decision comes at a time when chinese tech firms are coping with increasing hostilities in the u.s. amid trade negotiations just last week while way and a dozen affiliate companies were hit hard after the us placed them on its and to do list. there is major crime in corruption in news out of mexico where the former chief executive of the state oil company pemex now faces charges in an expanding investigation the former pemex c.e.o. a 1000000. faces charges of tax evasion and bribery the case summers on mystery was all his role in the alleged bribes paid around the sale to pemex of a fertilizer plant by mexican steel makers. interesting leave brazilian construction firm or the brecht or sale of the 1st

of best sport of capital his life from new york thank you so much for being with us this i.p.o. hotly anticipated of course this is mean the end of cheap writes yes and unfortunately they're going to that's going to happen that's a really great point to bring up because they've been doing so many incentives over the last you know five or six years to get people comfortable to ride sharing and that's something that you're going to see disappear over the next three to six months so what are they going to be doing exactly are they going to be raising prices getting rid of drivers how do you would dissipate this. well i think one of the things you're going to see is obviously the incentives right to that are going to disappear and you know one of the. one of the things that i think they're concerned about is they have to start making money you know if you look at how over the last one billion dollars this quarter last year they've lost one point eight billion dollars so when you look at the valuation that they're coming out to the market today you know you have to be really concerne

new york stock exchange. one time company employee running the opening bell earlier today that after being valued eighty two billion dollars its price for it's a public offering of the i.p.o. as it's known is set at forty five dollars per share the shares are expected to begin trading around fifteen thirty g.m.t. on friday the right hailing app is hugely popular around the world available in sixty three countries and seven hundred cities but it's never made a profit since fine in two thousand and nine those were headlines more news in half an hour the stream is next. on counting the cost from union leaders to business magnate can still run a post a turnaround a troubled south african economy as india's economy churns out a new breed of tech savvy old for now as we find out why the benefits of growth are not reaching everyone counting the cost on a. personal . devastating death toll and the heartbreaking impact on families left behind these images back here from a boa stricken communities in the eastern democratic republic of congo and they highlight an outbreak that has now claimed more than a thousand lives ok. we'll look at the impact of a persistent epidemic that is re

led new york to impose a minimum wage for drivers and a moratorium on new vehicle license is raising concerns that other cities might follow suit. many of the drivers came out to protest the i.p.o. some want to be treated like employees not independent contractors a move hoover says will prevent the company from becoming profitable. or has always true. drivers as if they are expendable they're now looking to cash in on that business model and raise enough revenue to take drivers out of the cars all together with the use of ride apps continuing to grow worldwide and investing heavily in driverless cars that may be exactly what investors are counting on kristen salumi al-jazeera new york was. still ahead in this news hour the gloves are all in the moment the savior for the boston red sox peter has won in sports. and hidden in the small print while strangely a central bank line need to invest in a spell checker though it's a little late now. business updates brought to you by qatar airways going places to get the. business updates brought to you by qatar airways going places to guesser. and now here is peter with the sport. barbara thank you very much it was a night of high drama

that led new york to impose a minimum wage for drivers and a moratorium on new vehicle licenses raising concerns that other cities might follow suit. many of the riders came out to protest the i.p.o. some want to be treated like employees not independent contractors a move hoover says will prevent the company from becoming profitable. or has always treated drivers as if they are expendable they're now looking to cash in on that business and raise enough revenue to take drivers out of the cars all together with the use of ride handling amps continuing to grow worldwide and investing heavily in driverless cars that may be exactly what investors are counting on kristen salumi al-jazeera new york. well in today's high tech world spelling mistakes should be a thing of the past but it appears that australia central bank has failed to invest in a spell checker well it should have because it's been left hugely embarrassed by what appears to be a typo on the nation's most circulated bank note the word responsibility on the fifty dollar note is missing its third letter i forty six million of the notes had a ready been in circulation for seven months when the mistake was spotted by a listen

blistering piece in the "new york times" recently whereadou tted optimism about the idea of uber and it as a company but you've obviously changed your mind and referred to this i.p.o. ture moral stain on the cul of silicon valley. what is your biggest complaint?u >> i think ter idea and the idea of ride sharing was this -- it could have been this beautiful dynamic where the company and its founders won, but also you could have had this compy working away where drivers and cities and the way we all wok could have, you roved.imp instead, what's happened is the latest numbers show that, in many cities where these companies operate, affic is up, traffic is up in large part fecause of these kinds o companies, and they've also created this massive worcekf of drivers who get and are allowed to get paid under the minimum wage because of how they are classified as conactors rather than employees. meanwhile, you know, after a long history of recklessness,he lawlessness,nsiders of this company, the people who founded it and were reckless in creating that cultury are going to get huge rewards from this i.p.o. i think it's a bad model, but, unfortately, a more common template

i.p.o.'s ever right hailing platform goes public in new york to launch its raked in eight billion dollars quote will drive us in africa guessed the best deal out of it and is the economy helping african economies. also will the u.s. and china manage to try to shine as last minute trade agreement tense talks break off for friday in washington the usa says they will quote constructive but fresh u.s. targets hit china today and but jane has promised to hit back. also amazon's blue horizon space rockets aiming for the moon getting ready to deliver and no one's ever delivered before. this is business africa on the w m god help us in berlin welcome in new york the.