Lyft sees 'path to profitability' as riders, revenues increase
Ride-hailing company Lyft Inc on Wednesday said higher-than-expected third-quarter revenues and an improved outlook showed it was well on its way to profitability by the end of 2021.
Ride-hailing company Lyft Inc on Wednesday said higher-than-expected third-quarter revenues and an improved outlook showed it was well on its way to profitability by the end of 2021.
General Electric Co still expects the grounding of Boeing Co's 737 MAX jetliner to reduce its cash flow by $1.4 billion in 2019, provided the aircraft remains grounded all year, GE Chief Executive Larry Culp said during a conference call on quarterly earnings on Wednesday.
To convince Southwest Airlines Co to buy the Boeing 737 MAX, the plane maker reassured the airline that pilots would not need expensive simulator training and backed up the promise with a $1 million per plane rebate if training was needed, U.S. lawmakers said on Wednesday.
The U.S. Federal Reserve may be done cutting interest rates but stock investors are not done buying.
Asian shares rose on Thursday and U.S. stock futures edged higher after the U.S. Federal Reserve cut interest rates as expected to keep economic expansion on track.
Samsung Electronics Co Ltd said chip sales should pick up in 2020 as it reported a 56% fall in third-quarter operating profit on Thursday, reeling from memory price declines amid a prolonged industry downturn.
Leaders from the United States and China encountered a new obstacle in their struggle to end a damaging trade war on Wednesday, when the summit where they were supposed to meet was cancelled because of violent protests.
The Hong Kong Monetary Authority (HKMA) lowered its base rate charged through the overnight discount window by 25 basis points to 2% on Thursday, hours after the U.S. Federal Reserve delivered a cut of the same size.
Starbucks Corp beat Wall Street sales and revenue estimates on Wednesday, driven by new stores, digital ordering and delivery in China, and cold drinks in the United States.
Facebook Inc reported an uptick in users in lucrative markets and its third-straight rise in quarterly sales growth on Wednesday, but the company's controversial political ads stole the limelight when CEO Mark Zuckerberg spoke to analysts.
The U.S. Justice Department said on Wednesday it has reached a settlement deal with financier Jho Low to recover almost $1 billion that was misappropriated from Malaysian investment fund 1MDB.
The U.S. Justice Department on Wednesday reached a settlement deal with Malaysian financier Jho Low to recover almost $1 billion in funds the fugitive and his family had misappropriated from Malaysian investment fund 1MDB.
Hard-drive maker Western Digital Corp said on Wednesday its second-quarter profit would come in sharply below analysts' expectations and that its chief executive officer would retire soon, sending its shares down 10%.
Ford Motor and the United Auto Workers union on Wednesday announced a tentative agreement for a new labor deal, allowing the No. 2 U.S. automaker to avoid a strike like the one that cost its larger rival General Motors about $3 billion.
Factory activity in China shrank for the sixth straight month in October, official data showed on Thursday, pointing to further pressure on its manufacturers as they grapple with the weakest economic growth in nearly 30 years.