Tag: lyft
Clobbered by coronavirus econ news? Here’s an in-depth, 90 day rewind
There’s just been a torrent of economic news since the first identification of patients with COVID-19 in Wuhan, China in early December 2019 until the declaration of a global pandemic by the World Health Organization (WHO) yesterday. Investors have fled the public market, more and more companies are teetering on…
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Uber and Lyft plunge, erasing recent gains after promising profits
Hello and welcome back to our regular morning look at private companies, public markets and the gray space in between. A few weeks ago, Uber and Lyft, kicking bags of the 2019 stock market and regularly cited as examples of venture-backed excess, were back to fighting form. After encouraging Q3…
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Stocks fall again, pushing deeper into bear territory as SaaS reaches 1 year lows
American-listed shares are off sharply this morning, falling after a steep selloff yesterday was not staunched by a presidential address. The declines echo what happened to Asian-listed stocks earlier today. All major American indices are now in bear-market territory, having shed the requisite 20% from recent highs. Today’s carnage is…
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Tech stocks follow the market lower as Uber and Lyft drop sharply
Stocks listed on American exchanges today fell sharply, erasing their Tuesday rebound and adding to their Monday declines. On a day that saw the World Health Organization declare that the spread of COVID-19 has officially become a pandemic, with 4,000 deaths reported from the illness so far, stock markets seemed…
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Big tech commits to paying wages for hourly employees affected by coronavirus plans
Following Microsoft’s lead from late last night, some the biggest technology companies in the U.S. have agreed to pay wages for hourly employees impacted by the ongoing corporate response to the coronavirus outbreak. It’s the right thing for companies to do, from both a health and safety perspective, and to…
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Senator urges Uber, Lyft, Instacart and others to offer gig workers financial security in light of COVID-19 concerns
While some gig economy companies have already taken steps to try to prevent the spread of COVID-19 among its workers, Sen. Mark Warner (VA) is encouraging them to go further and consider ensuring workers don’t face financial consequences as a result of the virus. “I strongly urge that you attempt…
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