Financial Daily Dose 5.9.2019 | Top Story: Uber Prices Shares as IPO Looms

Demolition of an old house
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The latest on Uber’s Friday IPO includes new details on its anticipated pricing, which for now looks to come in at the midpoint of its $44-50/share range [though demand is probably strong enough for the company to shoot for more] – NYTimes and WSJ and Bloomberg

Uber’s debut comes with a wave of other tech giants going public in 2019. The Times considers why these IPOs are different from the dot-com boom of the 1990s – NYTimes

The Upshot helpfully assists us with the vexing question of the markets’ general willingness—a few bad days here and there aside—to look past the near-constant trade drama with ChinaNYTimes

Of course, the real test for that analysis might come on Friday – Law360 and NYTimes

Amazon’s Queens-centered HQ2 may be off the table, but Bezos & Co. are still moving ahead with their cashierless Amazon Go stores in the Big Apple, unveiling the first NYC location earlier this week – NYTimes

The Journal on why, with a state-controlled media, there’s really no such thing as a bad-news day for local Chinese traders – WSJ

GM is reportedly in negotiations to sell its recently shuttered Lordstown factory in Ohio to a new business “partly owned by the electric-truck maker, the Workhorse Group” – NYTimes and MarketWatch

Meet LGFVs, the “bonds of debt-ridden borrowing units set up by China’s local governments” that are finally drawing the attention and interest of international investors looking to play in the $5.9 billion market – Bloomberg

German regulators have hit a local UBS subsidiary with a roughly $93 million fine for “allegedly heling clients to evade taxes” – Law360

Blackstone, which manages north of $50 billion in fixed-annuity and other insurance assets already, has plans to build its insurance business even more as part of CEO Stephen Schwarzman’s goal of expanding the company’s assets to $1 trillion in the next 7 years – WSJ

Amazon revealed in a UK legal document that it was the victim of an “extensive” fraud by hackers who were able to “siphon funds from merchant accounts over six months last year” – Bloomberg

IBM’s looking to drop about $20 billion in bonds on markets this week as it looks for cash to help fund its Red Hat Inc. purchase – WSJ

Look.  We’re clearly not talking flux capacitor territory here.  But still, even a simulated time traveling device is worth a read (even if the crazy manipulations necessary to make it happen “only reinforced the notion that we are helplessly trapped in the flow of time”) – NYTimes

MDR

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