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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Quick takeaways
- Labour leader Keir Starmer is dropping the commitment to spend £28 billion a year on low-carbon infrastructure due to concerns about the worsening public finances, but still plans to move forward with several proposals in the plan
- Uber announces its first full year of operating profits in its earnings report, surpassing analyst expectations, attributing its turnaround to cost-cutting measures, streamlining the business, improving margins, and growing its advertising business.
Deep dives
Labour Party dropping commitment to low-carbon infrastructure spending
Labour leader Keir Starmer is dropping the commitment to spend £28 billion a year on low-carbon infrastructure due to concerns about the worsening public finances. Despite this, Labour still plans to move forward with several proposals in the plan.
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