Lyft loses ground on Uber: Share price falls 30 per cent after profit down £100m on forecast February 10, 2023 Lyft is trailing behind competitor Uber as disappointing forecasts have caused investors to lose confidence. Shares in the ride-hailing company dropped more than 30 per cent this week after it reported lower than expected first quarter profit forecasts of $975m (£805m). Initially, analysts forecasted it would be at $1.09bn (£900m), according to Refinitiv data. Lyft [...]
Ukraine: Russia unleashes barrage of bombers, drones and rockets amid speculation Putin still wants Kyiv February 10, 2023 Russia has unleashed strategic bombers, killer drones and rockets in a barrage of attacks on Ukrainian targets. The assault comes as a Russian military push that Kyiv says has been brewing for days appeared to pick up pace ahead of the one-year anniversary of the invasion of Ukraine. The Kremlin’s forces focused their bombardments on [...]
Tech rout continues as Yahoo staff cull adds to over 30,000 job losses in sector this year February 10, 2023 Yahoo has become the latest tech giant to announce huge job losses, as the cost of living crisis forces digital advertisers to reign back on their spending. The American web provider said it was axing over 20 per cent of its entire workforce, with the cuts expected to make 1,600 current workers redundant, including 1,000 [...]
EP: 181 Newbury, Warwick & Hong Kong February 10, 2023 Newbury stages the Denman and Game Spirit Chases – both Grade 2 races – plus the competitive Betfair Hurdle on Saturday, whilst Warwick features the Kingmaker Novices’ Chase on the same afternoon. City AM Racing editor Bill Esdaile previews the best of the weekend’s jumps action with Wally Pyrah discussing Sunday’s meeting in Hong Kong. [...]
February 11th – Punter Podcast Summary February 10, 2023 You can now hear all of City AM racing editor Bill Esdaile’s weekend tips in a short, summary episode of the Punter Podcast alongside Chris Barnett. The full weekend preview is also available on the City AM website. The Punter ‘The Punter’ has been City AM’s dedicated sports betting section for over a decade with [...]
News Corp: Rupert Murdoch titan to cut 1,250 jobs citing interest rate and inflation surge February 10, 2023 Rupert Murdoch’s News Corp has said it will cut 1,250 jobs, around 5% of its workforce, after inflation cut into profits at the media giant. The publishing company, which owns The Times and Sun newspapers in the UK, missed earnings expectations for the latest quarter. Robert Thomson, chief executive of News Corp, said: “Obviously, a [...]
Power-boosted start for Bitcoin Racing February 10, 2023 Jason Deane reports from the heart of El Salvador where he's shifting through the gears to showcase Bitcoin to the world of motorsport.
Square Mile honours WEF president and Davos head Brende with freedom of the City February 10, 2023 The president of the World Economic Forum (WEF) was honoured by the Square MIle’s Corporation this week, giving him the Freedom of the City of London. Børge Brende was honoured at a ceremony this week following the WEF’s landmark conference in Davos, Switzerland, last month. The Norwegian economist, who heads the non-profit promoting cooperation between [...]
Shares in Standard Chartered fall five per cent after First Abu Dhabi quashes hopes of £28bn take-over deal February 10, 2023 First Abu Dhabi Bank (FAB), the United Arab Emirates’ biggest lender, said it was not currently evaluating an offer for Britain’s Standard Chartered, the second time it has quashed reports of an imminent bid. News of the potential offer first came on 5 January, when FAB said it had considered a bid for London-listed Standard Chartered but was no longer doing [...]
FTSE 100 live: London index under pressure despite easing of UK recession woes February 10, 2023 The FTSE100 index was trading slightly lower, down 0.24 per cent, this morning despite the UK narrowingly avoiding recession. London’s premier index had fallen to 7,892.06 points – down from yesterday’s close – while the domestically-focused mid-cap FTSE 250 index was off 0.55 per cent. Standard Chartered’s shares fell nearly five per cent in early [...]
