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Business Matters: Uber shares sink on stock market debut

Uber shares sink on stock market debut

11/05/2019 GMT

BBC World Service - Business Matters, Uber shares sink on stock market debut

The shares fell 7.6%, making the ride-hailing app worth around $70 billion.

Uber shares slid to close 7.6% down on their first day of trading, as the highly anticipated share market listing failed to win over investors. We get analysis from Jon Swartz, who covers Silicon Valley for Barron's magazine. President Trump says trade talks with China will continue even after the US increased border tariffs on Chinese imports on Friday. Meanwhile, companies around the world are trying to work out what the new tariffs mean for them. Luisa Santos of Business Europe, an organisation that represents many of the continent's large and small firms tells us the impact the trade war is having on her members. The founder of Amazon, Jeff Bezos, Elon Musk of Tesla and Sir Richard Branson of the UK's Virgin are all trying to become dominant commercial operations in space. Branson tells us about the progress of his own Virgin Galactic project. Plus, would you taste Liquid Death? Megan Hernbasmd of Business Insider tells us about the "punk"-styled water with some big name investors. 

All this and more discussed with our two guests throughout the show: Alison Van Diggelen, host of Fresh Dialogues, in San Francisco. And Liz Gwynn, co-anchor and journalist for Prime7 News, in Wagga Wagga, Australia.

(Photo: Uber on the New York Stock Exchange. Credit: Getty Images.)

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