Business Briefs – June 20, 2019

Work Messaging Service Slack’s Value Jumps After Stock Debut

NEW YORK (AP) – Slack’s newly public shares aren’t slacking off. The work messaging service’s market value grew 49% after it started trading Thursday under the ticker “WORK.” Slack’s debut is the latest in several highly anticipated initial public offerings of stock for tech companies. While some such as Uber hit a few potholes on their opening day, companies focused on business services appear to be doing well.

Waymo Teams Up With Renault, Nissan on Robotaxis Outside US

SAN FRANCISCO (AP) – Self-driving car pioneer Waymo is teaming up with automakers Renault and Nissan to make its first journey outside the U.S. with a ride-hailing service that will start with a fleet of robotaxis in France and Japan. The partnership announced late Wednesday underscores Waymo’s intention to deploy its driverless technology throughout the world in an attempt to revolutionize the way people get around. Waymo can afford to try because it’s backed by Google, one of the world’s richest companies.

Energy Stocks Swing With Economic Signals, Mideast Tensions

NEW YORK (AP) – Energy stocks have gone along with oil prices on a wild ride this quarter. Oil prices steadily rose through April and then sank as the trade war between the U.S. and China escalated and threatened global economic growth. More recently, rising tensions between the U.S. and Iran have pushed prices higher.

Bank Of England to Mull Access For Likes of Facebook’s Libra

LONDON (AP) – Bank of England Governor Mark Carney is open to letting new payment services such as Facebook’s upcoming Libra hold funds with the central bank — something historically limited to commercial banks. In prepared remarks to bankers in London, Carney says new payment providers “can improve the transmission of monetary policy and increase competition.”