FT News Briefing Friday, February 7
Feb 7, 2020
Uber's shares soared as they promised profitability by year's end. Tensions rise between the U.S. and U.K. over Huawei's role in 5G, with Trump reportedly furious at Johnson. Elliott Management has invested $2.5bn in SoftBank, pushing for strategic changes. Meanwhile, a journalist quarantined in Wuhan reveals how suppressed information worsened the coronavirus outbreak. Public trust is eroding due to delayed warnings from authorities, impacting citizens both at home and abroad.
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Uber's Profitability
- Uber expects its first quarterly profit before the end of 2020.
- This positive projection follows a strong Q4 2019 and boosted share prices.
Trump and Johnson Clash
- Donald Trump expressed anger towards Boris Johnson over the UK's decision to allow Huawei into its 5G network.
- This tension arose despite the "special relationship" between the two countries.
Elliott Management Targets SoftBank
- Elliott Management, known for aggressive campaigns, acquired a $2.5B stake in SoftBank.
- They are pushing for changes, including a stock buyback and governance adjustments, amid SoftBank's recent struggles.