Million for his debut fund. What he plans on doing with the money. That is ahead on bloomberg west. First, uber making the rounds on wall street. The company is seeking a 1 billion credit line from a handful of banks. This according to the wall street journal. The company is in talks with six or seven banks. Uber declined to comment. Bloomberg reported uber was planning to raise 1. 5 billion in a new founding round funding round that would boost its valuation. What does uber want with all this money . Is it an ipo in the near future . Katie benner joins me now in the studio, and from d. C. , gabe klein who works as a special venture partner. Gabe you just invested in lyft. , you are the perfect guy to be talking to about this. This credit line is something that facebook, twitter, alibaba had done before. How close are we to an uber ipo . Gabe klein the truth is we dont know. I think that it is typical for Companies Like uber. Facebook did this they went out and started to build Close R
Money. All of that ahead on bloomberg , west. First, to our lead uber making the rounds on wall street. The company is seeking a 1 billion credit line from a handful of banks. This according to the wall street journal. Which says the company is in , talks with six or seven banks. Uber declined to comment. Earlier this month bloomberg reported uber was planning to raise 1. 5 billion in a new funding round that would boost its valuation to a staggering 50 billion. What does uber want with all this money . Is it an ipo in the near future . Joining me in the studio, katie venner and gabe klein who works as a special venture partner. Idc firm focused on next agenda mobility. Gabe, you just invested in lyft. You are the perfect guy to be talking to about this. I know you have been looking very closely at this space. This credit line is something that facebook, twitter, alibaba had done before. How close are we to an uber ipo . Gabe klein the truth is we dont know. I think that it is typical
Coalition has helped the average british consumer. We have seen disposable incomes increase so most families in the u. K. Are better off by an average 16 pounds a week and weve seen Consumer Confidence increase as well. He is to release his final as ceo. We speak to him about the numbers and who should win the u. K. Election in 15 minutes time. Bond yields continue to edge higher. European markets on the flat line in early trade following a broad sell off on wall street and in asia. And welcome to the show. So we have less than 24 hours until the polls open in the u. K. Its look too close to call this morning. It is looking too close to call. Theres an implicit feeling and ill say this on the record. The polls are wrong and actually the tourists are going to get in again and form some form of election. Maybe that was a majority for a coalition. I was wondering if that was come play senty over a benign outcome too. Lets face it. It may mean all kinds of referendum issues. An snp Labor C
Markets slightly weaker yesterday. A couple of big stories this morning. The big one is hp reportedly planning to sell a majority stake in its chinese data networking operation for about 2. 3 billion. Heres whats going on. The wall street journal saying it comes after revelation that u. S. Spying for demand for tech products. Sis coe and others have had issues about this. Also in Economic News new numbers overnight showing chinese factory activity contracted for a Third Straight month. Chinese output shrinking at the fastest rates in more than a year. This is going to reinforce expectations for more policy stimulus. Geo political headlines this morning, isis saying its in full control of the ancient sere juan city of palmyra. Heres todays squawk planl. Key economic reports. Weekly jobless claims later in the morning. Manufacturing pmi. Existing home sales. Leading Economic Indicators in the Kansas City Fed survey. On the earnings front best buy will report Quarterly Results before the
Country at risk. R a federal government is now 10 days from hitting the debt ceiling. This democratsym intond raise the debt limit withoutxd unrelated conditions republicans said theyve had to seek. The white house signaled it will extend borrowing. Last nights earthquake under scores an impact of the federal governmentc shut down. thoun one aszv on duty tofa help identify location and magnitude. David louie is live ask x c rememberoes in the contract. R david . Well, dan, carolyn usgs says in the event of a major earthquake they will come back to work. However, for the time being it means their work is shifting to uc berkeley. The only vehicles in the license plates there. Was vop one to drive them. Offices remain closed. That mean there is no one monitoring size mow grafts. It shifted work to uc berkeley and caltech saying its a work shabl workable solution for now. If out longer who knows whether Computer Systems will continue to run. If systems for collecting data goes down, th