Today's top business headlines: - White House to delay decision on Huawei licenses - Uber reports its largest quarterly loss ever - Impossible Burger expands
The ride-sharing company said after markets closed Thursday that it lost $5.2 billion in the three months ending in June, its largest quarterly loss ever. The loss was fueled by $3.9 billion in stock-based compensation related to its public offering. But even without those charges, the company still lost about $1.3 billion, a roughly 50% increase from the previous year. Uber is making big investments in freight shipping and meal delivery.
It surged earlier in the week after the Wall Street Journal reported that the companies were close to a deal.3. Huawei's OS: China's Huawei has released its own operating system months after it was placed on a US blacklist that barred American firms from selling software to the company.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Signs of price truce push Lyft, Uber higherLyft Inc's hints that its cut-throat rivalry with U.S. ride-hailing rival U...
Read more »
Options traders are betting on an Uber surprise to the upside on earningsOptions traders are betting on Uber to follow in Lyft's footsteps when it reports earnings Thursday afternoon.
Read more »
Market relief; Lyft and Uber; Oil boostToday's top business headlines: - Markets could face another 'bearish black hole' - Equinox owner's planned Trump fundraiser causes outrage - FedEx will no longer offer ground delivery to Amazon - Walgreens to close 200 locations in the US
Read more »
NYC wants to cut back on Uber, Lyft vehicles cruising without passengersThe NYC Taxi & Limousine Commission voted unanimously on an extension of a cap on ride-sharing vehicles, as well for a new rule around 'cruising,' which would limit the time ridehail drivers can spend roaming streets without passengers during peak hours.
Read more »
Stocks making the biggest moves after hours: Lyft, Uber, Roku and moreSee which stocks are posting big moves after the bell on August 7.
Read more »
Uber set to report results after the bellUber has worked to keep riders, and drivers, loyal with membership offerings and loyalty rewards, while battling competitors like Lyft.
Read more »