Food delivery boosts Uber sales, US jobs preview, the fashion industry under lockdown
FT News Briefing
Forhecz Topher
4.4 • 1.3K Ratings
🗓️ 8 May 2020
⏱️ 11 minutes
🧾️ Download transcript
Summary
Uber reported stronger than expected first-quarter revenues on Thursday thanks to a surge in food delivery; India’s richest man, Mukesh Ambani, has sold a stake in his digital services group Reliance Jio for a third time in three weeks. Plus, we will look at what to expect from the US jobs report for April. Then, without runways or retail, how is the fashion industry faring under lockdown? The FT’s fashion editor, Lauren Indvik, will explain.
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Transcript
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| 0:00.0 | Good morning from the Financial Times. Today is Friday, May 8th, and this is your FT news briefing. |
| 0:07.0 | A surge in food delivery helped Uber sales in the first quarter. |
| 0:12.0 | Another US investor is getting into India's |
| 0:14.8 | fast-growing internet market, |
| 0:16.6 | and we'll look at what to expect |
| 0:18.0 | from the April US jobs numbers, |
| 0:20.0 | the first full month of data from lockdown. |
| 0:23.0 | Plus without runways or retail, |
| 0:25.0 | how is the fashion industry fairing? |
| 0:27.2 | The FT's fashion editor, Lauren Invik, |
| 0:29.5 | will explain. |
| 0:30.8 | I'm Mark Filipino, and here's the news you need to start your day. |
| 0:35.0 | The ride healing industry has taken a hit from coronavirus and the related lockdowns, |
| 0:45.0 | but Uber's found success in another part of its business. |
| 0:48.0 | That doesn't include picking people up and dropping them off. |
| 0:51.0 | Gross Ride bookings at Uber dropped 5% in the first quarter compared to the same period |
| 0:56.4 | last year. |
| 0:57.4 | But the company reported stronger than expected revenues. |
| 1:00.6 | That's because as people entered the lockdowns, they started to order more food through the UberEats app. |
| 1:06.0 | Those bookings increased by 52% year on year. |
| 1:10.0 | There were big expectations for Uber in 2020, |
| 1:12.8 | and it aimed to have its first profitable quarter |
... |
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