Business Maverick: Tuesday April 2: Five Things You Need to Know to Start Your Day

European Commission President Jean-Claude Juncker stepped up his criticism of Chinese trade practices just days after President Xi Jinping sought to soothe European concerns in Paris.

All Brexit Options Rejected — AgainThe U.K. Parliament rejected all options in a set of votes on four potential alternative blueprints for Brexit on Monday, all of which would either keep closer ties to the European Union than Prime Minister Theresa May’s plan entails, or would potentially stop Brexit altogether. The government says the legal default will be for the U.K. to leave the European Union in 11 days.

U.S. Stocks Rally to Year HighAsian stocks looked set to advance at the open after U.S. markets rallied to the highest levels of the year. The S&P 500 closed at the highest since October, while the Dow gained the most since Feb. 15. Shares of Lyft dropped below its IPO price as analysts noted there is limited visibility into the company’s path to growth and profitability.

White House WhistleblowerHouse Democrats said Monday they will subpoena a former official in the White House Personnel Security Office after a woman who works there told them that top-secret clearances were handled improperly, including some for top aides to the president.

Lyft’s Drop Sends Ominous SignalLyft Inc. fell below its initial public offering price of $72 a share on its second day of trading, an ominous sign for the stampede of unicorn companies planning to follow the ride-hailing business to the stock markets this year. The IPO has become a sort of test case, not just for Lyft or rival Uber Technologies Inc., but for a glut of highly valued startups like Pinterest Inc., Postmates Inc. and Slack Technologies Inc.

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MAVERICK BUSINESS ANALYSIS: South Africa’s enterprise sector critically illThe parlous state of the enterprise sector in SA can be seen in dismal company income tax receipts over the past five years, which are declining and very heavily weighted in favour of large companies. The decline in profitability means 74% of all companies pay no tax at all and the vast majority of company tax receipts come from just 0.09% of SA’s corporates.
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