Stocks at the moment are edging higher in asia. Do you use ride hailing apps to get around the city where you live or where you work . If youre in the us, im sure you will know lyft well. Its just reported results and it has beaten Market Expectations and delivered an up beat outlook as well. Its revenues soared 72 during the second quarter, compared to the same period last year. However, its net loss widened to just over 644 million, thats 3. 5 times bigger than a year ago. When it launched on the stock market back in march, the company warned it may never make money. And since then, its share price has struggled. In fact, its down by around 25 since that stock market debut, as investors start to question the sustainability of its business model. Thats not been helped by the resignation of several senior managers, including the chief operating officer, john mcneill, whos leaving afterjoining last year. The ride hailing sector is seeing increased competition, therefore putting pressure
Businsess hub for the latest. This is how the european markets have opened. This is the situation in 30 minutes into the trading day. This is the situation in 30 minutes into the trading day. Game on well meet the man whos aiming to disrupt the Global Gaming industry by putting power into the hands of the punter. Also the un is about to release a report that calls on us to eat a more plant based diet and less meat to help combat Climate Change. So wed like to know, will you . Are you ready to change your diet to save the planet . Let us know just use the hashtag bbcbizlive hello and welcome to business live. We start with the us Ride Hailing Company lyft has reported its results and it beat Market Expectations and delivered an upbeat outlook. Its revenues soared 72 during the Second Quarter, compared to the same period last year. However, its net loss widened to 644] million, three and a half times bigger than a year ago. When it launched on the stock market back in march the company w
Markets. Stocks are hovering slightly, a mixed bag. Dow is slightly higher, up. 2 s p 500 is down. 2 , and had nasdaq down by. 6 its the defensive sectors leading the way today. Real estate, health care, consumer staples, which by the way, hit a fresh alltime high today. Tyler. Thank you very much, melissa. The big story were watching is what will the fed do and how will the markets react we have been talking about it for weeks, maybe months now. Were less than 48 hours away from one of the most anticipated fed meetings maybe ever. Steve liesman will be there to bring us the news, but hes here now to bring us some analysis. Steve. I think the context for what youre saying, tyler, is the fed is meeting under extraordinary circumstances with markets screaming for a rate cut, and unprecedented political pressure from the president of the United States in fact, with the fed on the verge of giving the president the rate cut hes campaigned for for months, the president tweeting out this morn
Of you celebrating. Im celebrating too. Im alex witt. Heres a live look at cincinnati, ohio. The phased reopening this week includes retail and service businesses, as we give you a slightly partly cloudy weather check there on cincinnati. Really pretty. But because Outdoor Dining for restaurants begins friday, cincinnati is closing parts of 25 streets. Thats so they can give restaurants more space for social distancing of tables. Lets now get to the facts at this hour. This morning, there are 1. 3 million confirmed cases of coronavirus across this country. More than 79,000 people have died. More states are gearing up to reopen and starting tomorrow, kentucky and New Hampshire will begin easing their lockdowns. Restaurants in arkansas, arizona, and indiana are going to be open for business with new restrictions, of course. While mississippi and most of florida will open salons and barbershops. Checking out tennessee, the Great Smoky Mountains National Park welcomed visitors yesterday fo
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