1. Business
  2. Morning briefing
April 26, 2019updated 25 Apr 2019 5:17pm

Slack IPO prospectus expected / Hammond asks China to return Huawei favour / Galaxy Fold launch delayed

By Luke Christou

3 THINGS THAT WILL CHANGE THE WORLD TODAY

Good morning, here’s your Friday morning briefing to set you up for the day ahead. Look out for these three things happening around the world today.

Slack IPO prospectus expected

Business messaging platform Slack could release its pre-IPO prospectus today according to the Wall Street Journal, which will detail its plans to go public.

Slack initially applied with the US Securities and Exchange Commission in February ahead of a debut on the new York Stock Exchange in May or June this year.

The company is expected to report annual revenues approaching $500m, a significant increase on the $64m reported in 2016.

Slack will follow tech startups such as Lyft, Pinterest and Zoom Technologies, all of which started trading over the past month.

Hammond asks China to return Huawei favour

UK chancellor Philip Hammond is expected to make a speech today after holding talks with China’s vice-premier Hu Chunhua at the annual Belt and Road Forum yesterday.

Hammond is reportedly at the event attempting to secure involvement in China’s Belt and Road Initiative for British companies hoping to provide design, engineering, financing and legal services.

Hammond’s attempts come days after the UK government said it would allow Chinese telecommunication company Huawei to take part in the development of its 5G networks, despite the United States calling for its allies to ban the company over security fears.

The Belt and Road Initiative is a development strategy designed by China to aid investment in foreign countries. However, critics view the initiative as a way for China to grow its influence overseas.

Galaxy Fold launch delayed

Consumers should have been able to get their hands on the long-awaited Samsung Galaxy Fold from today, but issues have forced the South Korean technology company to halt its planned launch.

The foldable smartphone was expected to introduce foldable OLED display technology to the mass market today. However, Samsung has put back the launch after reviewers reported that devices had suffered damage that rendered them unusable after just a few days.

Issues appear to have occurred when a protective layer (which was mistaken for a screen protector) was removed from the devices. There is also an issue with debris finding its way inside of the display through the device’s hinge.

Samsung has acknowledged the issues and has said that it will announce a new launch day within weeks.

Thursday’s Highlights

---

Cryptomining almost ‘extinct’ but business ransomware attacks rocket 500%

Why has wave power lagged behind other renewable energy sources?

The US Navy is making it easier to report UFO sightings