Tuesday, November 5

FT News Briefing

Forhecz Topher

News, Daily News, News & Politics

4.4 • 1.3K Ratings

🗓️ 5 November 2019

⏱️ 10 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Uber’s rising revenue fails to stem a large loss in the third quarter and SoftBank tightens governance at companies it backs following the near collapse of WeWork. Meanwhile, Trump administration officials debate whether to remove some existing tariffs on Chinese goods to seal a partial deal, UK MPs vote in favor of Lindsay Hoyle as the next Speaker of the House of Commons, and a second senior executive leaves McDonald’s after the chief executive was fired over a relationship with an employee. Plus, are Americans better off financially than they were four years ago? A new FT-Peterson poll has some interesting answers.

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Transcript

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0:00.0	The UK's energy partner.
0:06.0	Learn more at equinore.
0:10.0	Good morning from the newsroom of the Financial Times.
0:12.0	Today is Tuesday, November 5th, and this Good morning from the newsroom of the Financial Times.
0:12.5	Today is Tuesday, November 5th, and this is your FT news briefing.
0:18.1	A rise in quarterly revenue wasn't enough to stop the proverbial bleeding at Uber.
0:22.9	And Softbank will impose new standards on the startup founders it backs.
0:27.4	And according to a new FT Peterson poll, about a third of Americans feel like they're worse
0:31.8	off than they were before Donald Trump became president.
0:35.3	Our own Peter Spiegel breaks down the numbers.
0:38.1	I'm Mark Filipino, and here's the news you need to start your day. Uber shares fell as much as 6% in after hours trading on Monday.
0:49.0	The Ridehaling company released its third quarter numbers yesterday,
0:52.0	and while revenues beat estimates at $3.8 billion,
0:56.4	Uber still posted a total loss of $1.2 billion.
1:00.3	Chief Executive Dara Kuz Rashahi insisted Uber was on a path to produce a profit for the full year of 2021,
1:07.0	at least on its earnings before interest, tax, depreciation, and amortization.
1:12.0	But investors weren't convinced the after-hour period. appreciation and amortization.
1:12.5	But investors weren't convinced.
1:14.4	The after-hour share price pushed Uber's stock down to $29 a piece.
1:18.7	The shares I P.Oed at $45.
1:21.8	The results did reveal that Uber's core business, its rides, accounted for more than three quarters of its top line.
1:28.0	And Rides is covering the overhead costs of other bets, including deliveries, electric bikes and scooters, and self-driving tech.
	...

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