Wednesday 29 January 2020

Daily Investor Update: Lyft cuts 2% jobs on journey to profitability

Reuters.com Newsletter

Lyft cuts 2% jobs on journey to profitability

Lyft Inc said on Wednesday it had cut about 2% of its workforce, or 90 jobs, as the ride-hailing company seeks to achieve its goal of profitability by the end of 2021.

Fed keeps interest rates steady, offers no new balance sheet guidance

The Federal Reserve held interest rates steady on Wednesday at its first policy meeting of the year, with the head of the U.S. central bank pointing to continued moderate economic growth and a "strong" job market, and giving no sign of any imminent changes in borrowing costs.

Fed holds rates steady, offers no new guidance on balance sheet

The Federal Reserve held interest rates steady on Wednesday at its first policy meeting of the year, with officials pointing to continued moderate U.S. economic growth and a "strong" job market.

Google temporarily shutting down all China offices: The Verge

Alphabet Inc's Google is temporarily shutting down all its offices in China due to the outbreak of a new coronavirus in the country, technology website The Verge reported on Wednesday.

L Brands CEO in talks to step aside and sell Victoria's Secret: WSJ

Victoria's Secret-owner L Brands Chief Executive Officer Leslie Wexner is in talks to step aside from the role and is exploring strategic alternatives for the lingerie brand, the Wall Street Journal reported on Wednesday.

Oil mixed as virus fears, U.S. stock build face talk of further OPEC cuts

Oil prices were mixed on Wednesday as worries about the coronavirus outbreak and swelling U.S. crude inventories weighed on prices, counter-balanced by talk that OPEC could extend oil output cuts.

Global stocks gain on solid results, but virus keeps safe-havens alive

Global equity markets edged higher on Wednesday on strong results from Apple and others but concerns about the coronavirus outbreak in China kept a safe-haven bid in gold and the dollar alive.

Goldman Sachs sets growth targets but urges investor patience

Goldman Sachs Group Inc on Wednesday set targets to grow its fledgling consumer unit and transaction banking business while improving efficiency and returns to shareholders, but urged patience at its first-ever investor day presentation.

British Airways, Iberia suspend direct flights to mainland China amid virus fears

British Airways has suspended all direct flights to and from mainland China, one of the biggest names in aviation to do so, as worries grow about the impact of the spreading coronavirus on global travel.

Trump signs USMCA, 'ending the NAFTA nightmare'; key Democrats not invited

President Donald Trump on Wednesday signed a new North American trade agreement during an outdoor ceremony at the White House attended by about 400 guests - but not the key Democrats who helped secure congressional passage of the deal.

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