FT News Briefing Trump’s resistance, Lyft weighs delivery business, EU hits Amazon with antitrust charges
Nov 11, 2020
Republicans are increasingly backing Trump’s unfounded claims about the election outcomes. Lyft is exploring a venture into the delivery market to compete with Uber Eats. Meanwhile, SoftBank is contemplating shifting its Vision Fund operations to Abu Dhabi for potential tax advantages. In tech news, the EU unleashes antitrust charges against Amazon, raising concerns for small businesses in Europe. Lastly, small shopkeepers express frustration over ongoing lockdowns, highlighting their challenges during this difficult economic period.
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Biden's Inauguration Prep
- Joe Biden prepares for inauguration despite Republican resistance supporting Trump's unfounded election fraud claims.
- Trump's refusal to concede is embarrassing and affects his legacy, but Biden affirms the transition will happen on January 20th.
Lyft Explores Delivery
- Lyft's ridership and revenue improved in Q3 2020 but remain below last year's figures.
- Losses exceeded analyst predictions, prompting Lyft to explore a delivery business like Uber Eats.
SoftBank's Potential Move
- SoftBank considers moving its Vision Fund unit from the UK to Abu Dhabi, partly for tax reasons.
- This move would also bring the fund closer to one of its primary backers in Abu Dhabi.