A potential tie-up between Uber and Grubhub could balloon the ride-hailing company’s market share and bring forth long term synergies, according to Morningstar senior analyst Ali Mogharabi....
The American Transportation Research Institute’s board of directors recently approved the its 2020 Top Research Priorities as identified by the group’s Research Advisory Committee. ...
Struggling e-commerce platform Jumia Technologies reported an almost 7 percent fall in first quarter revenue due to supply chain disruptions, particularly in China, but saw lower cash burn and signs that lockdowns were hastening a shift towards online shopping in Africa. Jumia was the first Africa-focused tech start-up to go public on the New York Stock Exchange and reached a market capitalisation of over $1.5 billion just days after it listed last April. The results, which caught the beginning of the coronavirus outbreak on the African continent, showed the lowest losses in earnings before interest, taxes, depreciation and amortization in six quarters, at 35.6 million euros....
(Bloomberg) -- Senator Bernie Sanders and Representative Ilhan Omar led a group of lawmakers from two dozen countries calling for the International Monetary Fund and World Bank to forgive the debt of the world’s poorest countries and step up their support.The debt payment standstill announced last month by the Group of 20 won’t be enough to allow the countries to deal with the crisis, the lawmakers, including the U.K.’s Jeremy Corbyn, said in a letter Wednesday. Fitch Ratings last month warned that multilateral development banks could see their credit ratings suffer if they let the poorest nations suspend sovereign debt payments.The lawmakers also urged the IMF to create trillions of dollars in reserve assets, called special drawing rights, a move opposed by the Trump administration. IMF Managing Director Kristalina Georgieva said last month that the fund is well capitalized for the next months but won’t discard the possibility of creating more...
(Bloomberg) -- U.S. stocks tumbled to a three-week low after Jerome Powell warned economic risks from the virus are significant and tensions with China flared.The S&P 500 fell after the Federal Reserve chairman said the threat of a lasting downturn can deepen without additional government spending. Equities extended losses after a federal savings plan delayed moving funds into an index with Chinese stocks, adding to tensions stoked by President Donald Trump. Treasuries and the dollar advanced.Read: Tepper Says Stock Market Most Overvalued Ever Outside 1999The stock weakness has the S&P 500 headed for its worst week since March 20, the session before a furious 30% rally started. Equities tumbled Tuesday after health official Anthony Fauci warned the pandemic could worsen if states open too soon, and some Fed chiefs expressed concern the recession will be long. Famed investor Stanley Druckenmiller also hit sentiment, saying stocks are too high. David Tepper joined...
Airbus is exploring restructuring plans involving the possibility of "deep" job cuts as it braces for a prolonged coronavirus crisis after furloughing thousands of workers, industry sources said, though no decision is imminent. Chief Executive Guillaume Faury is expected to update managers on Thursday after warning staff last month that the firm's survival was at stake due to a slump in demand. Under French law, Toulouse-based Airbus cannot disclose restructuring plans internally before consulting trade unions through a formal exercise not expected before the end of May....
