Markets

Uber lays off 400 employees globally

Uber lays off 400 employees globally Uber reported slow growth and a loss of a billion dollars in its first quarter. About as much as 400 employees from the marketing team across 75 offices globally were asked to leave. Uber's latest public global headcount was 24,494 global employees as of March 31, 2019. In its first earnings report as a publicly traded company, Uber said revenue climbed to $3.1 billion in the first quarter o... [Full Article...]

TikTok Owner ByteDance is Working on a Phone with‌ Smartisan

TikTok Owner ByteDance is Working on a Phone with‌ Smartisan Beyond TikTok, which has surged in global popularity on both iOS and Android in recent years, ByteDance produces a number of apps for the Chinese market including Toutiao, a content discovery platform, and Duoshan, a messaging app similar to Snapchat that rivals WeChat. [Full Article...]

Companies using Facebook Likes warned on data liability

Companies using Facebook Likes warned on data liability The German consumer association in North-Rhine Westphalia sued Fashion ID for breaching the data protection legislation. The court held that "Fashion ID" can not be considered to be a controller in respect of the operations involving data processing carried out by Facebook Ireland after those data have been transmitted to the latter. [Full Article...]

LSE's $27 bln Refinitiv takeover plan lifts its shares to record

LSE's $27 bln Refinitiv takeover plan lifts its shares to record Blackstone bought a majority stake in Refinitiv from Thomson Reuters a year ago in a deal valuing the company at $20 billion, including debt. Investors and analysts said a deal would make strategic sense and come at an attractive price, while posing less regulatory risk than previous failed tie-ups in the sector. [Full Article...]

Brexit could spell end of Ellesmere Port plant, says Vauxhall owner

Brexit could spell end of Ellesmere Port plant, says Vauxhall owner The move would probably lead to the closure of the site, the FT said, threatening 1,000 jobs. "If the conditions are bad and I can not make it profitable then I have to protect the rest of the company", Tavares was quoted by the Financial Times as saying. [Full Article...]

28% of drivers taste the food they're delivering, survey shows

28% of drivers taste the food they're delivering, survey shows According to the site, the methodology was as follows: "From May 9-13, 2019, we surveyed 1,518 American adults who have used food delivery apps, including UberEats, Grubhub, DoorDash and Postmates". The most common complaints were a bit more expected, though: In all, 17 percent of delivery diners complained their food was not warm or fresh, while 16 percent complained the food arrived late. [Full Article...]

Johnson heads to Scotland as no-deal Brexit planning stepped up

The Confederation of British Industry (CBI), one of the UK's leading business lobby groups, warned on Monday that not only the United Kingdom government but also many United Kingdom companies and the European Union are also under-prepared for such a radical break with Europe. [Full Article...]

Political pressure complicates Fed's expected rate cut

Political pressure complicates Fed's expected rate cut In a series of tweets ahead of the Fed's meeting scheduled for Tuesday and Wednesday, Trump reiterated his criticism of independent US monetary policymakers, accusing them of acting too cautiously in comparison to China and Europe. Trump has blamed the rate increases for the economy not growing at 4% GDP a year ago. Last week the government reported that the United States economy had slowed to... [Full Article...]


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