Madagascar Development

Uber anticipates IPO price between $44-50 per share

In the leadup to a public listing for the ride-hailing company, some drivers objecting to their pay and working conditions. Uber prepares for $100 billion IPO

Sur le papier, l’économie malgache se porte bien. La note de conjoncture économique de Madagascar publiée hier par la Banque mondiale indique que "La croissance de l’économie malgache est restée forte en 2018, affichant un taux de 5,2% et se situant au-dessus de la moyenne régionale et mondiale". Pour la cinquième année consécutive, le taux de croissance économique du pays a excédé le taux de croissance démographique estimé à 2,7%. Pour 2019, la croissance devrait atteindre 5,2%. Selon les analyses de la Banque mondiale, «  La combinaison de conditions macroéconomiques favorables, telles qu’une inflation plus faible, un déficit budgétaire maîtrisé et un niveau adéquat de réserves internationales, aurait soutenu cette croissance. Le secteur des services reste le principal moteur de cette croissance. Ce secteur a enregistré un taux de croissance de 5,2% en 2018  ». En outre, les conditions météorologiques favorables en 2018 ont soutenu la reprise de la production rizicole ...

Bloomberg) -- Lyft Inc. shares took yet another nosedive on Wednesday amid reports that larger rival Uber Technologies Inc. could be filing for an initial public offering as soon as Thursday. The shares are plumbing record lows, down as much as 7.7 percent in New York. Uber’s offering is expected to be the largest U.S. IPO this year and among the 10 largest of all time, and a person familiar with the matter said the company is seeking to raise about $10 billion. That compares with the $2.3 billion raised when Lyft went public late last month. Lyft had opened its trading in March amid lots of hype, largely due to being the only publicly listed ride-sharing company. However, the shares have dropped nearly 12 percent since then, and now with Uber joining the fray, demand for Lyft stock may take a hit. “Given the substantial market opportunity and investor interest in the secular ride-sharing opportunity, Lyft will likely benefit from being the only direct publicly traded play o...

The U.S. added a cool 196,000 jobs in March. Wall Street economists were expecting the U.S. economy to have added 175,000 non-farm payrolls in March, according to data compiled by Bloomberg. February’s sharply lower-than-expected 20,000 job additions were revised 33,000. The unemployment rate 3.8%, the same pace of increase as in February, according to consensus economists polled by Bloomberg. The labor force participation rate 63.0%. On average, economists were expecting to see the labor force participation rate remain unchanged, at a five-and-a-half year high of 63.2%. Average hourly earnings grew 3.2% year-over-year, below estimates for 3.4% growth. Month-over-month, average hourly earnings grew 0.1%, below the 0.4% increase seen in February. This story is developing. Please check back for updates. “Really it looks like an anomaly,” Joshua Wright, chief economist for iCIMS, said in an interview with Yahoo Finance about February’s reading. His firm’s model estimates th...