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Dropbox Shares Leap in I.P.O., and Silicon Valley Smiles Photo A contingent from Dropbox, including co-founders Drew Houston and Arash Ferdowsi, celebrate while ringing the opening bell at the Nasdaq stock exchange Friday. Shares of Dropbox soared to nearly $30 shortly after trading started. Credit Lucas Jackson/Reuters Dropbox, the file-sharing company and Silicon Valley darling, had a strong market debut Friday, a reassuring sign for the technology industry and for the investors who have billions locked up in other highly valued but privately held start-ups.
Shares of San Francisco-based Dropbox, which had sold 36 million shares at $21 each on Thursday night, rose 36 percent in the first day of trading. That pushed Dropbox’s market value to $11.2 billion, above where it had been valued in the private markets.
The initial public offering arrived at a dicey time. Stock markets have been on a roller coaster, with investors anxious about the threat of inflation, possible trade wars and g..
Missed Connections: Craigslist Drops Personal Ads Because of Sex Trafficking Bill Photo Senator Rob Portman of Ohio was a co-author of the sex trafficking bill, which has raised concerns among some tech companies and rights groups, including the A.C.L.U. and the Electronic Frontier Foundation. Credit Jonathan Ernst/Reuters Looking for love or a “casual encounter”? You’ll have to find it someplace other than Craigslist.
The venerable online classifieds site removed its “personals” section this week, after Congress sent a bill to President Trump aimed at curtailing sex trafficking.
Craigslist, little changed since it unveiled its spare text design in 1995 and began to crush the paid print classifieds business, will no longer offer a way for anonymous people to connect for romance or sex.
While many people used the site to find relationships — one of the discontinued categories is “strictly platonic” — it was no secret that some postings were thinly veiled solicitations for prostitution, ..
Disturbing video clips shared on social media by their desperate families have revealed the ordeal of Sudanese migrants kidnapped and tortured for ransom in Libya.
Supported by Style A Publicist and D.J. Who Nurtures Underrepresented Artists Photo April Hunt, a D.J. and publicist, before her gig at the Armory Party earlier this month. Credit Caroline Tompkins for The New York Times If you’re out in New York City and spot April Hunt, then congratulations, you’re probably someplace fabulous.
A stylish presence in the city’s art and social justice worlds, Ms. Hunt, 36, weaves a connecting thread among the city’s cultural institutions, media gatekeepers and gifted, if overlooked, artists.
Along with her partner, Paola Zanzo-Sahl, she owns SparkplugPR, a public relations agency that works with underrepresented artists including women, people of color and gender nonconformists.
Ms. Hunt is also a sought-after D.J. on the art and philanthropy circuit (she calls it a “side hustle”), after making her mark at the Fair Trade art parties organized by Derrick Adams and Mickalene Thomas. Gigs include benefits for the Public Art Fund and the High Line, and..
Supported by Can Deutsche Bank Be Fixed?: DealBook Briefing Photo John Cryan, the chief executive Deutsche Bank Credit Daniel Roland/Agence France-Presse — Getty Images Good Tuesday. Here’s what we’re watching:
• So you want to be Deutsche Bank’s next C.E.O…
• Investors are selling tech again.
• Will Wall Street’s top regulator keep going after bad bankers?
• More potential limits on gun sales
• Facebook’s growing political troubles
• Uber’s self-driving travails
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So you want to be Deutsche Bank’s next C.E.O…Imagine you are applying to be the C.E.O. of Deutsche Bank now that it’s reportedly seeking a successor to John Cryan, the bank’s current chief.
You survey the bank’s numbers to get a sense of the opportunities and challenges you’d face.
Staring you in the face is the stock price, down nearly 30 percent this year. Ugly, but it could be a good entry point. It gives you time to try out some tough measures aimed at improving D..
The combined group will be based in Chicago but maintain a European base in London, if the deal goes ahead
US exchange CME has agreed a £3.9bn deal to buy Michael Spencer’s NEX Group following weeks of talks.
Under the terms of the acquisition, CME will pay £10 for each NEX share, in the form of £5 in cash and 0.0444 new CME shares. NEX, formerly known as Icap, has recommended the offer to shareholders.
Read more CME Group plans buyout of Michael Spencer's NEX If the deal goes ahead, Mr Spencer will join the CME board to remain with the combined group as a special adviser. NEX’s headquarters will be joined with CME’s head office in Chicago, with the new firm also maintaining European HQ in London.
CME boss Terry Duffy said the deal would “allow us to create significant value and efficiencies for our clients globally”.
“Michael Spencer and his senior leadership team have built a world-class organisation that is at the center of capital markets. We are committed to mainta..
London was the weakest performing region, with house prices down 1 per cent compared to the same month a year ago
UK house prices rose at their slowest pace in seven months in March, underscoring bruised consumer confidence, according to mortgage provider Nationwide.
Average prices rose by 2.1 per cent this month on an annual basis, which was down from a 2.2 per cent increase recorded in February and represented the lowest rise since August last year.
London was the weakest performing region, with house prices down 1 per cent compared to the same month a year ago, Nationwide said. The capital also remained the most expensive region. Home ownership in the city is now at 47 per cent, down from 57 per cent a decade ago.
Read more UK house prices fall in February for first time since last May “On the surface, the relatively subdued pace of house price growth appears at odds with recent healthy rates of employment growth, a modest pick-up in wage growth and historically low borrowing..
‘He Is Not a Victim’: Our Austin Bomber Coverage Explained Photo Officials investigating near a vehicle where Mark Conditt, the suspect in the deadly Austin bombings, blew himself up as the authorities closed in on him in Round Rock, Tex., on March 21. Credit Jay Janner/Austin American-Statesman, via Associated Press Many news organizations, including our own, came under criticism from some readers last week for coverage of the bombings in and near Austin, Tex. Some said The Times’s initial reporting on the suspect, Mark Conditt, treated him too lightly or did too much to humanize him because he was white and Christian.
We invited readers to share with us their questions or comments on the reporting. We heard from about 2,000 readers. We’re running a selection of their questions with some responses from our journalists below. The questions have been condensed and edited for clarity.
Please see this as the start of a conversation. We welcome you to leave additional remarks in the commen..
All bets are off when the US, UK and NATO allies are pushing towards a form of military confrontation with Russia, cutting off diplomatic relations, Patrick Henningsen, executive editor at 21st Century Wire, told RT.
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