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Author: Dominic Rushe

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Uber to be profitable by end of 2020, CEO Dara Khosrawshahi says

Share price soars following announcementRide-sharing firm lost $8.5bn in 2019Uber’s chief executive, Dara Khosrowshahi, said on Thursday that the heavily loss-making ride share company expects to be profitable by the end of 2020, news that sent its sha…

Tesla shares surge and company says it expects to sell 500,000 cars in 2020

Company made profit of $105m in last quarter of 2018 on revenues of $7.38bn, both better than expectedTesla’s share price rose sharply in late trading on Wednesday as the company announced another profit and said it would sell more than half a million …

I tried the Light Phone for a week – could I survive on just texts and calls?

If you spend hours a day staring at your phone screen for social media, games and reading, a new no-frills device could help nudge you back to the real worldFor years, I have had a screensaver on my iPhone that says READ A BOOK INSTEAD. It hasn’t worke…

US states to launch antitrust and privacy inquiries into Facebook and Google

New York state attorney general said bipartisan coalition investigating if Facebook stifled competition and put users at riskDozens of US states are set to launch antitrust and privacy investigations into Facebook and Google as scrutiny of the big tech…

Tesla seeks to raise $2.3bn after concerns it is running out of money

Company announced last week it had lost $702m in the first three months of the year and sold 31% fewer vehicles in the first quarterTesla is seeking to raise $2.3bn after its latest results heightened concerns that the troubled car company is running o…

Amazon makes $1bn a month as growth slows

Jeff Bezos touts results but report, which reveals Amazon tracks and fires workers who miss productivity targets, casts shadow

Amazon made a profit of more than $1bn a month for the first three months of the year, the company announced on Thursday.

The retail and tech giant reported a profit of $3.6bn for the three months ending 31 March as sales reached $59.7bn. Profits were more than double last year’s and the company has now recorded four straight quarters in a row of record profits.

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Amazon faces new headache as Nashville deal enrages locals left and right

Unlikely alliance of free-market libertarians and union-backed activists argue $100m-plus in subsidies handed to retailer are a bad investment for the city

Nashville has a way of bringing people together – usually through music. This time it’s through a shared antipathy for the $100m-plus in subsidies this booming city has just handed to Amazon, the world’s most valuable retailer.

The ink has barely dried on a deal that the state of Tennessee and the city awarded Amazon and there are now only a few small hurdles remaining before Amazon starts moving in to a downtown office complex planned for Nashville Yards.

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Lyft stalls as shares slip below IPO price on second day of trading

Taxi company’s shares dropped about 12% on Monday, ending the day at $69.03 after selling shares at $72 on Friday

Shares in Lyft, the ridesharing company, stalled on Monday, falling below their initial public offering (IPO) on their second day of trading.

Lyft became the first of a new wave of giant tech companies to go public last Friday, selling shares at $72 a piece. The hotly anticipated sale saw Lyft’s share price leap to $78.89 on the first day of trading.

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