business i'm joined in in berlin thank you very much for joining us the hoover i.p.o. has arrived and it's one of the largest public offerings in history but its market debut has been anything but a smooth ride over shares skidded more than 7 percent on its 1st day of trading after pricing at $45.00 a share for the i.p.o. which gave it a market value of some $82000000000.00 hoover veered off course it eventually rolled to a stop at $41.57 of it investors concerns over profitability. let's bring in our wall street correspondent dan scored that yes after all that hype what went wrong. yeah and it is pretty unusual that such a high stock would actually start falling on the 1st day of trading and specially after the stock went into trading at the no end of their price range so we were kind of was conservative to begin with well probably investors seeing this as a long term bet for now in the past 12 months lost about $3700000000.00 and maybe a wall street wants to see that they might be able to turn a profitable at some point in the future or at least to get the losses down ov

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 starting to weigh on

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 listener to a radio station. and now a reminder of the top stories on al-jazeera trade talks between china and the u.s. are underway in washington with

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 starting to weigh on

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 at stamford bridge on thursday as twenty thirteen europa league champions chelsea school week to into this year's final the blues took the lead a

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 are 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. it appears a straight a central bank has failed to invest in a spell checker to be left embarrassed by a typo when the nation's most circulated bank note the word responsibility on the fifty dollar and it is missing and forty six million of them were in circulation for seven months by the time i. spotted the. so this is a zero these are the top stories trade talks between china and the united states will continue for another day even is an american deadline for raising tariffs is less than an hour away washington accuses beijing of breaking earlier commitments the chinese deny this and say that they will retaliate if tariffs are impos

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 do 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 or how much did it have to do with these results today. oh absolutely i mean any type of negative news when a company is going out and having an i.p.o. that isn't helpful so you know you have a situation where a lift has i think it's about 30 percent lower than the initial i.p.o. price and then we're supposed to follow up with that pool was the trade wars situation that's happening this week plus the strike i mean all of that i think what it's going to do is bring down that initial price after the i.p.o. and what's going to eventually happen is that price is going to kind of level out and at that point if you're really interested in picking up some of which i am honestly but i want to wait for it to level out a bit. i think that's going to be the point where you can come in and do that but no

business i'm joined in in berlin thank you very much for joining us the hoover i.p.o. has a raw and it's one of the largest.