Friday, February 7

FT News Briefing

Forhecz Topher

News, Daily News, News & Politics

4.4 • 1.3K Ratings

🗓️ 7 February 2020

⏱️ 10 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Uber shares traded higher after hours on Thursday after the ride-hailing company promised profitability in the final quarter of this year, officials in London and Washington told the FT that Donald Trump vented in “apoplectic” fury at Boris Johnson over Britain’s decision to allow China’s Huawei a role in its 5G mobile networks, and activist hedge fund Elliott Management has built a stake worth $2.5bn in SoftBank Group and is pressing for changes. Plus, the FT’s Tom Hancock has been quarantined after reporting on the coronavirus in Wuhan. He explains how a crackdown on information about the virus in Wuhan allowed the disease to spread more widely.

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Transcript

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0:00.0	Good morning from the Newsroom of the Financial Times.
0:02.5	Today is Friday, February 7th, and this is your FT news briefing.
0:08.0	Uber investors cheered on the promise of profits on Thursday.
0:12.0	Donald Trump vented at Boris Johnson over China's
0:14.8	Huawei in Britain, and Elliot management has built a multi-billion dollar
0:19.0	stake in Softbank and is demanding change. Plus we'll hear from the Ftees Tom Hancock
0:25.0	who has been quarantined
0:26.0	after reporting on the coronavirus in Lujan.
0:29.0	I'm Mark Filipino,
0:31.0	and here's the news you need to start your day.
0:33.4	Nearly nine months after Uber floated on the public markets,
0:39.4	the Ridehailing Company says that later this year,
0:41.9	it hopes to turn its first ever quarterly profit
0:44.6	before taking out money for essential bills such as tax and interest. The company
0:49.3	had predicted hitting this milestone for the 2021 full year, and it reiterated that goal and a call with investors on Thursday.
0:57.0	The improved outlook follows a stronger than expected fourth quarter of 2019.
1:02.0	A surge in bookings helped Uber trim its quarterly losses. The net loss of
1:06.1	1.1 billion in the December quarter was a shade less than what analysts were forecasting.
1:12.4	The news sent Uber's share price up by about 5%
1:15.1	and after hours trading yesterday to just under $39 each. That's on the back of a
1:19.9	rally that's seen the group's stock rise by about 40% from lows plumbed in November.
1:25.4	It is still well short of its listing price at $45 last year.
	...

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