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Uber finally records first ever profit

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Uber launches new feature

Uber has achieved its first-ever operating profit, marking a significant milestone for the company.

The American ride-hailing giant recorded pre-tax earnings of $326 million from its operations after experiencing a 22% increase in trips booked on its platform in the year ending June. This turnaround follows a history of massive losses for Uber, which reported an operating loss of $713 million in the previous year. The company’s global expansion efforts since 2014 have contributed to tens of billions of dollars in losses.

Turnover rose by 14% to $9.2 billion, slightly below Wall Street traders’ predictions.

However, the company managed to control costs effectively, with only a 1% increase. This cost discipline, along with robust demand and new growth initiatives, has led to the historic quarterly rise in operating profit.

Uber’s CEO, Dara Khosrowshahi, highlighted the positive results, stating that strong demand and driver engagement contributed to the success. During the quarter, six million drivers and couriers earned a record $15.1 billion.

Shares in Uber rose by 1% in pre-market trading after the company improved its forecasts for the current quarter. Uber now expects earnings before interest, taxes, depreciation, and amortization to range between $975 million and $1.025 billion.

Uber has faced scrutiny in the past, including an investigation into its lobbying practices and the classification of its drivers as workers entitled to minimum wage and paid holidays.

However, the recent profit marks a positive shift for the company and demonstrates its ability to maintain growth and profitability in the competitive ride-hailing market.

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U.S. shares rebound amid tariff negotiation optimism

U.S. shares rebound over 2.5% amid tariff optimism, despite economic warnings and mixed global market performance.

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U.S. shares rebound over 2.5% amid tariff optimism, despite economic warnings and mixed global market performance.

In Short

U.S. shares rebounded significantly due to optimism over tariff negotiations, with major indexes rising over 2.5%. However, companies continue to face challenges from tariffs and uncertainty in the market, leading to mixed results overseas.

U.S. shares saw a significant rebound on Tuesday, with major indexes increasing by over 2.5%.

This recovery was influenced by optimism regarding tariff negotiations, as noted by Treasury Secretary Scott Bessent, who expressed confidence in a potential de-escalation of the trade war with China.

Despite this positive sentiment, companies are still grappling with the effects of the Trump administration’s tariffs.

Defense contractor RTX announced an anticipated $850 million financial impact, and Kimberly-Clark cited a “global geopolitical landscape” for a lowered profit outlook.

Economic forecasts

The International Monetary Fund has revised its economic forecasts for the U.S. and globally, highlighting tariffs as a factor in slower growth.

Goldman Sachs CEO David Solomon indicated that high levels of uncertainty are hindering corporate decisions and impacting asset prices, and the Institute of International Finance warned of a probable U.S. recession later this year.

Gold prices have fluctuated, retreating after reaching a record high on Tuesday, reinforcing its status in uncertain markets.

Tesla’s quarterly earnings did not meet estimates, but the company’s share price remained stable.

Concerns about President Trump’s trade policies and his remarks regarding Federal Reserve Chair Jerome Powell contributed to market volatility earlier in the week.

In trading results, the Dow Jones increased by 1,017 points or 2.7%, while the Nasdaq and S&P 500 both rose by 2.7% and 2.5%, respectively.

Treasury yields decreased slightly, and Bitcoin’s value climbed past $91,000.

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Dow struggles, investors lose confidence amid trade fears

Dow on track for worst April since 1932 amid trade uncertainty and investor ‘no confidence’ signals, as losses deepen.

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Dow on track for worst April since 1932 amid trade uncertainty and investor ‘no confidence’ signals, as losses deepen.

In Short

The Dow Jones fell almost 1,000 points, heading for its worst April since 1932, with investors worried about trade restrictions and the future of the Federal Reserve Chairman.

Amidst declining stock confidence, traditional safe assets like bonds are under pressure, while gold prices have soared as investors seek safety.

The Dow Jones Industrial Average dropped nearly 1,000 points on Monday, heading towards its worst April since 1932. The S&P 500 has recorded its worst performance for any president at this stage since 1928.

Investors are concerned about trade restrictions and the potential removal of Federal Reserve Chairman Jerome Powell by President Trump, leading to fears of further losses. Many doubt that the administration’s trade negotiations will provide timely relief.

Traditional safe assets like government bonds and the U.S. dollar are also under pressure, limiting safe investment options during this instability. Chief investment officer Scott Ladner noted that this reflects a widespread “no confidence” sentiment among investors.

Tax cuts and deregulation

Following Trump’s election, stock indexes initially rose due to optimism around tax cuts and deregulation. However, the introduction of aggressive tariffs sparked significant market declines. Although there was some retraction of tariff plans, markets have not stabilised.

Typically, bond prices should increase during stock declines, but yields on 10-year U.S. Treasurys have risen, indicating a sell-off in government bonds.

The U.S. dollar has weakened due to economic concerns and Trump’s tensions with the Fed, hitting a three-year low. In contrast, gold prices have surged to all-time highs as investors seek safer assets.

Wall Street sentiment is declining, with bearish expectations remaining high for eight consecutive weeks, marking a record for prolonged pessimism among individual investors.

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Trump warns of economic slowdown unless interest rates are slashed

Trump criticizes Fed’s Powell over interest rates, warning of economic slowdown, as markets react sharply.

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Trump criticizes Fed’s Powell over interest rates, warning of economic slowdown, as markets react sharply.


President Donald Trump has once again lashed out at Federal Reserve Chair Jerome Powell, claiming the U.S. economy could “slow down” if interest rates aren’t cut immediately.

Markets reacted sharply, with bond yields jumping and equities falling as investors brace for a possible standoff between the White House and central bank.

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