Informative, Worldly, Calm News
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EnglishVoice Age
Young Adult (18-35)Accents
North American (General)Transcript
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It's Saturday, May the 11th and this is your morning briefing from the Economist Coming up. Trade, war, *** for tat and Iran's nuclear ultimatum. First, the week in brief, America raised tariffs on $200 billion worth of Chinese imports from 10% to 25%. Goods already on route will be spared. Trade talks have reportedly foundered on China's reluctance to change its laws rather than just regulations and administrative practices. America is also considering applying 25% tariffs on another $325 billion worth of Chinese imports. China promised to take necessary countermeasures. Uber had a disappointing debut on the New York Stock Exchange. Its shares opened at $42 below their offer price of $45 giving it an opening market capitalization of $72.4 billion much below the $82 billion expected. Uber had initially hoped for a $100 billion valuation. Expectations have been tempered by the experience of Lift, another taxi hailing company whose shares have tumbled since its public debut in March