Nov 16, 2019

Lyft pulls scooters out of six major cities

Photo: Ronen Tivony/NurPhoto via Getty Images

Lyft is removing its electric scooters out of San Antonio, Dallas, Atlanta, Phoenix, Columbus and Nashville, as the company explained it will shift resources to markets where it "can have the biggest impact," CNET reports.

The big picture: The dockless, rentable, electric scooter trend started with just a couple companies operating in a handful of cities. "Now it's a competitive land grab, with more than a dozen operators that've dropped scooters in hundreds of cities around the world," CNET writes.

  • Lyft will continue to operate its scooters in 13 markets, including Denver, Los Angeles, and Washington, D.C.
  • The ride-hailing company will also lay off 20 employees from its bike and scooter team.

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Updated 17 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 8 a.m. ET: 6,294,222 — Total deaths: 376,077 — Total recoveries — 2,711,241Map.
  2. U.S.: Total confirmed cases as of 8 a.m. ET: 1,811,277 — Total deaths: 105,147 — Total recoveries: 458,231 — Total tested: 17,340,682Map.
  3. Public health: Nearly 26,000 coronavirus deaths in nursing homes have been reported to federal health officials —Coronavirus looms over George Floyd protests across the country.
  4. Federal government: Trump lashes out at governors, calls for National Guard to "dominate" streets.
  5. World: Former FDA commissioner says "this is not the time" to cut ties with WHO.
  6. 🎧 Podcast: The virus didn't go away.

More than 1 in 6 black workers lost jobs between February and April

Adapted from EPI analysis of Bureau of Labor Statistics data; Chart: Andrew Witherspoon/Axios

As is often the case, the staggering job losses in the coronavirus-driven recession have been worse for black workers.

By the numbers: According to a report from the Economic Policy Institute, titled "Racism and economic inequality have predisposed black workers to be most hurt by coronavirus pandemic," more than 1 in 6 black workers lost their jobs between February and April.

Coronavirus could lower GDP by $15.7 trillion

Reproduced from Congressional Budget Office; Chart: Axios Visuals

The CBO released projections on Monday for U.S. nominal GDP to be lower by $15.7 trillion over the next decade than its estimate in January as a result of the coronavirus pandemic.

What they're saying: It predicts that when adjusted for inflation GDP will be $7.9 trillion lower over the next decade and down by $790 billion in the second quarter of this year — a 37.7% quarterly contraction.