Reuters Before the Bell: Uber sets terms for IPO, posts $1 billion first-quarter loss

Click to View in Browser Friday, April 26, 2019 Uber sets terms for IPO, posts $1 billion first-quarter loss Ride-hailing company Uber Technologies Inc is aiming for a valuation of up to $91.5 billion in its initial public offering, potentially the largest U.S. listing in years and a test of investor appetite for a high-growth but highly unprofitable business. American Airlines cuts 2019 forecast, to take $350 million charge on 737 MAX groundings American Airlines Group Inc cut its 2019 profit forecast on Friday, saying it expected to take a $350 million hit from the grounding of Boeing's 737 MAX planes after cancelling 1,200 flights in the first quarter. Renault to propose joint holding company with Nissan: Nikkei Renault SA will propose to Nissan Motor Co a plan to create a joint holding company which would give both firms equal footing as the French automaker seeks further integration with its Japanese partner, the Nikkei newspaper reported on Friday. Stock futures flat ahead of GDP data U.S. stock index futures were flat on Friday, as investors paused ahead of GDP data, which is expected to show the world's largest economy maintained a moderate pace of growth in the first quarter. Dollar off two-year highs ahead of U.S. GDP, shares subdued The dollar slipped from 23-month highs on Friday ahead of keenly awaited U.S. gross domestic product data for the first quarter, while global shares were on track for a fifth successive weekly gain despite subdued trade. China's Xi says Belt and Road must be green, sustainable China's Belt and Road Initiative (BRI) must be green and sustainable, President Xi Jinping said in opening a summit on his grand strategy, adding that the massive infrastructure and trade plan would deliver "high-quality" growth for all. Britain calls China's Belt and Road Initiative a 'vision' Britain is committed to help realize the potential of China's Belt and Road Initiative (BRI), British finance minister Philip Hammond said on Friday, describing the policy as a "vision". 'Bonanza time': Foreign carriers savor rising India demand as Jet Airways crumbles The grounding of India's Jet Airways is turning into a quick windfall and long-term opportunity for international airlines keen to scoop up nearly a million outbound passengers from what was once the nation's biggest airline. Newer drugs fuel AstraZeneca quarterly sales beat AstraZeneca Plc beat first-quarter sales and earnings expectations on Friday as the British drugmaker benefited from a push into cancer drugs and emerging markets including China. Ad group WPP hit by client losses in North America The world's biggest advertising company WPP suffered a sharp drop in first-quarter underlying sales in North America as the loss of work from clients such as Ford took a toll on its most important market. Related Video Thousands stranded as SAS pilots go on strike Mrs. Dow Jones explains taxes using Cardi B Make sense of the market with highlights of valuable financial information and reports along with compelling investment insights. Register Today The latest Reuters articles on M&A, IPOs, private equity, hedge funds and regulatory updates delivered to your inbox each day. Register Today » » MORE NEWSLETTERS - 3 Times Square New York, NY 10036 USA © Copyright 2019 Thomson Reuters Ensure delivery of Reuters Newsmails, add newsletters@email.reuters.com to your address book. Subscribe to other Reuters newsletters. Unsubscribe from this newsletter. Follow us on Twitter Friend us on Facebook