FT News Briefing Your Uber profits have arrived
Feb 8, 2024
UK Labour leader Sir Keir Starmer plans to abandon a major green investment goal. In a surprising turn, Uber celebrates its first annual operating profit as its market value skyrockets. Meanwhile, Dutch far-right leader Geert Wilders faces hurdles in coalition negotiations despite a recent electoral victory. Political uncertainty looms in the Netherlands as parties struggle to form alliances. Lastly, tensions escalate in Israel amidst failed negotiations with Hamas.
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Labour's Green Investment U-Turn
- The UK Labour Party is abandoning its £28 billion annual green investment pledge.
- Rising interest rates and worsening public finances under the Conservative government are cited as reasons.
Uber's First Profit
- Uber achieved its first full year of operating profit, exceeding analyst expectations.
- This milestone signals a potential shift in the company's long-term financial outlook.
Uber's Turnaround Strategy
- Uber's turnaround involved cost-cutting measures, layoffs, and efforts to increase the number of drivers.
- They also aim to expand their advertising business for long-term profitability.