Big buy call on a burger joint you know there it is. Its yours mystery chart we start with a developing story on uber and lyft both stocks shooting higher after a Big Court Win in california deirdre bosa has more. Reporter until just a few hours ago it looked as those california riders and drivers would wake up tomorrow to a ride sharing blackout the court blinked, granting youtuber and ly e er uber and ln extension to continue to operate with drivers as independent contractors despite new regulation it is a win for uber and lyft in the shortterm it suggests that their threats to shut down service in california over the last week worked just hours before the extension, lyft told its drivers and riders it would be suspending services at midnight because the change would necessitate an overhaul of their entire Business Model and wasnt a switch they could flip overnight. In reality the writing has been on the wall for years. Uber and lyft used a tactic theyve used in other markets to avoi
Comments on the call, disney ceo bob igor stressing that the lower than expected results on the quarter are results of the big changes he implemented at the company, both foxs acquisition and disneys pivot to embrace the direct to consumer business theyre investing in right now igor Just Announced consumers will be able to subscribe to a bundle of their services for 12. 99, they will get hulu, espn and disney plus, worth noting it is the same cost as netflix. Take a listen to his comment here. Our results reflect our efforts to integrate the assets, businesses and talent we acquired in order to enhance and advance our Strategic Transformation implementation of the integration plan is well under way. A complex process given the magnitude of the endeavor, and we remain confident in our ability to successfully execute our strategy reporter cfo Christine Mccarthy saying that the acquisition of 21st century fox and taking control of hulu will have a dilutive impact on the fiscal First Quart
Probably one of the biggest in terms of Enterprise Companies going public during this ipo vintage. We awere here last year for the uber ipo slack today. Well bring you lots of news about it its a different type of listing, its a direct listing well talk about all of the dynamics around that for now, back to you we talked about that direct listing earlier this week. The pros and cons to it again . There are some pros and cons. You can only do it if you have a lot of cash on the Balance Sheet. This is a company that does. If youre trying to raise money, it doesnt work this way theres no additional money that gets raised the way uber was raising money and wework will be raising money. Well see if it becomes a model. Spotify did it successfully. Slack is doing it. If there works, theres a question on whether airbnb, the next ipo on the docket in the future, theres a question if they go the same route it has a huge implication for wall street, wall street fees and the ipo structure. Andrew,
Keeping in contact, linkedin has big plans for asia. We are going to set the challengers and the rivals. We are heading into the end of the trading week here in asia, and we do have a really supportive lead from wall street as we had the dow passing 24,000. The s p seeing its longest streak, monthly gains up by about a decade. We are going to get a potentially before christmas. We have over the last half hour or so had the announcement of suspension until 11 00 a. M. Friday morning in washington. The key compromise has collapsed and is scrambling to salvage that. Buoyancyeing the passed through to the Asian Session. Couple of key numbers when it comes to the agenda today. Japanese inflation edging slightly higher, but surging still half of that target. We saw south korean inflation falling more than expected. The other piece of data we are watching for his the pmi. The private manufacturing survey. This one versus the official reading which came in stronger than connected yesterday, at
The bank of england says it may be time to tighten. Scandal forces steve wynn from the home of his empire. And, a tsunami of earnings reports. I am pretty confident with the capacity in our business. We will stay disciplined within the capital framework. We arent interested in being the largest but being the most profitable. It is all ahead on bloomberg best. Hello, and welcome. I am ramy inocencio. This is bloomberg best, your weekly review of the most important Business News, analysis, and interviews from Bloomberg Television around the world. Investors enter the week on edge after the dow dropped 2 , then , on monday, the plunge continued. The Dow Jones Industrial average losing 1175 points, a 4. 6 decline, now off 1. 5 . Last week, we had the selloff occur in the context of a monotonous rise in treasury yields, whereas today yields have come off a little bit. That sort of suggests for the first time this was about Risk Management and position reduction. This is about earnings, and