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.

09:54

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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.

Intro

4min

Market Rebounds and Political Challenges in Europe

2min

Challenges in Dutch Coalition Negotiations

2min

Political Uncertainty and Military Standoffs

2min

Labour leader Sir Keir Starmer is set to announce the party is abandoning its target to spend £28bn a year on green investment, Uber has reported its first annual operating profit, and the far-right winner of Dutch elections just can't seem to form a government.

Mentioned in this podcast:

Labour set to ditch plan to spend £28bn a year on green investment

Geert Wilders struggles to find coalition partners in the Netherlands

Uber records first annual profits as market value approaches $150bn

Benjamin Netanyahu rejects ‘delusional’ Hamas terms for hostage deal

The FT News Briefing is produced by Fiona Symon, Sonja Hutson, Kasia Broussalian and Marc Filippino. Additional help by Sam Giovinco, Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. Our engineer is Monica Lopez. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. The show’s theme song is by Metaphor Music.

Read a transcript of this episode on FT.com

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