Tag: lyft
Ola suspends shared ride option in India
Ride-hailing giant Ola said on Friday evening that it is temporarily suspending pool rides on its platform, called Ola Share, in India in a bid to slow the coronavirus pandemic by encouraging social distancing. The Indian firm, which operates in several countries including Australia, New Zealand, and the UK, offers…
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For Uber and Lyft, this week has been a wild ride
Hello and welcome back to our regular morning look at private companies, public markets and the gray space in between. Uber and Lyft have been on quite a ride this year. After enjoying modest gains earlier this year thanks to an improved profitability forecast from Uber, the two companies saw…
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US stocks open lower, erasing recent gains and plunging shares deeper into bear territory
The rollercoaster ride of equity markets continues as all of the major stock indexes opened sharply lower one day after President Donald Trump announced the intention to push through a sweeping aid package — including the potential for a direct payout to most American workers. Domestic indexes had risen sharply…
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San Francisco’s shelter-in-place order does not apply to gig workers
Earlier today, San Francisco Mayor London Breed announced a shelter-in-place order in an attempt to slow the spread of COVID-19. The order legally requires people to stay home as much as possible unless it’s essential that they leave to do things like go to the grocery store, buy gas or…
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White House and House Democrats agree to funding package for paid sick leave, funding for tests
While stocks rose sharply after the President’s address, delaying the bill could cause further economic uncertainty and continue what has been a wild couple of months for financial markets beset by barrage of bad news and stopgap measures designed to boost the economy, but failing to address the actual pressures…
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Stocks sharply rebound as markets rally on expectations of government bailout, testing
As America’s fractured Congress inches closer to an agreement on a comprehensive bailout for the economic hardships businesses and workers are facing due to the COVID-19 pandemic, stocks are poised for a big rally on Wall Street. The move is more than welcome after stock markets recorded their worst day in…
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