Bloomberg Lyft Inc. withdrew its profit and revenue forecasts for 2020, following rival Uber Technologies Inc. in citing evolving and unpredictable impacts from Covid-19. The San Francisco-based ride-hailing company has seen demand fall dramatically, crushing its earlier estimates. Uber and Lyft, both of which aren’t yet profitable, told investors earlier this year they would turn a profit by the end ...

Bloomberg Netflix Inc. posted the strongest financial results in company history, adding a recorded 15.8 million paid subscribers — almost double the figure forecast by Wall Street analysts. Yet rather than gloat, the company’s executives warned investors not to get too excited. Netflix benefited in the first quarter from an unprecedented health crisis, the global coronavirus pandemic. With billions of ...

Bloomberg As President Donald Trump prepares to pause immigration into the US, the court system that handles the removal of immigrants is projected to issue nearly 60% more deportation orders than last year. With the rest of the US legal system grinding to a near halt amid the pandemic, at the nation’s 69 federal immigration courts cleaning crews clad in ...

Bloomberg President Donald Trump said he’s ordered the US Navy to destroy any Iranian gun boats that harass American ships at sea. Trump issued the warning “to shoot down and destroy” the ships in a tweet on Wednesday. It comes after 11 gunboats from Iran’s Islamic Revolutionary Guard Corps crossed the bows and sterns of American ships at close range ...

Bloomberg Prime Minister Narendra Modi’s government announced an executive order to ensure the safety of medical staff after they threatened to protest against rising incidences of violence over fears doctors are spreading the deadly coronavirus. Cabinet on Wednesday amended laws to convert such violent acts into non-bailable offenses and provide compensation for injury or loss to property. Prison terms range ...

Bloomberg Spain reported a small increase in the number of new coronavirus cases, though the numbers remain steady as the country readies for at least two more weeks of lockdown. There were 4,211 new infections in the 24 hours through Wednesday, up from 3,968 on April 21 and taking the total to 208,389, according to Health Ministry data. The number ...

Bloomberg Santiago’s central square looks a little like India this week, with police and army units enforcing a tight lockdown — no one moves without a permit. Down the street, it feels more like Sweden with its soft approach to the pandemic — the produce market there is thronged with shoppers and many stores are open. Chile, South America’s richest ...

Bloomberg Ethiopia, already battling Covid-19, is at high risk of a second scourge after yellow fever was reported in the south of the nation, the World Health Organization (WHO) said. The first two cases were reported on March 3 in the SNNP Region and had risen to six by April 6, the WHO said in an emailed statement. “The high ...

On Thursday, the European Union’s leaders will gather to decide on a joint response to the economic crisis caused by Covid-19. The central question will be whether the euro zone is ready to issue some form of mutualised debt to relieve pressure on the bloc’s most fragile member states. The chances of anything resembling so-called “euro bonds” are extremely slim. ...

When naming his telecom foray in 2016, Mukesh Ambani chose the mirror image of OIL, the commodity that has made him India’s richest man. In hindsight, Jio was a good choice. The week that oil prices turned negative, the refining tycoon won a $5.7 billion investment from Facebook Inc for his digital assets, Jio Platforms Ltd. Like his wordplay, the ...