Uber reported third-quarter earnings Monday that beat Wall Street expectations for revenue but also showed a $1.1 billion loss. Shares fell as much as 7.4% in early trading Tuesday on the news. Uber has struggled to win over investors without turning a profit, but CEO Dara Khosrowshahi said Monday the company expects to profit in 2021. In addition, Uber's post-initial public offering lockup expires on Wednesday, which could send shares down further, according to Wedbush analyst Daniel...markets.businessinsider.com
Leading ecologists at the University of Sussex, who carried out the report for the Wildlife Trusts, revealed that 40 per cent of the one million known insect species are now nearing extinction.Mail Online
Sometimes the rich don’t get richer. The world’s 2,101 billionaires dealt with an unexpected problem in 2018: losing money. According to the 2019 UBS/PwC Billionaires report, worldwide billionaires saw their wealth fall by $388 billion in 2018, the first calendar-year wealth downturn for billionaireswww.nydailynews.com
US trade deficit falls to $52.5 billion, lowest since April, as America runs rare petroleum surplusABC News
Reuters Travis Kalanick, Uber's ousted founder, will soon be in direct competition with his previous company after raising $400 million from Saudi Arabia for his new food-delivery startup, according to The Wall Street Journal. Travis Kalanick's net worth is $3.2 billion, according to Forbes. Kalanick keeps his personal life fairly under wraps, but he spends much of his fortune on real estate and travel. He has no clear ventures into philanthropy. Visit Business Insider's homepage for more...Business Insider
China's e-commerce giant, Alibaba Group Holding , said on Friday it would invest an additional 23.3 billion yuan ($3.33 billion or £2.6 billion) to raise its equity stake in its logistics affiliate Cainiao Smart Logistics Network to 63% from 51%.IN
French President Emmanuel Macron has decided to scrap a 3 billion euro ($3.32 billion) shopping and leisure complex project that French retail group Auchan and Chinese conglomerate Dalian Wanda planned to build just outside Paris, the Elysee Palace said on Thursday.U.S.