Oct 14, 2019 - Technology

Uber lays off 350 employees in third round of cuts

Photo: Denis Charlet/AFP/Getty Images

Uber's ongoing layoffs continued Monday, with the company announcing cuts of about 350 employees across multiple units, including food delivery service Eats and its autonomous driving unit ATG, TechCrunch first reported and Uber confirmed to Axios.

Why it matters: This is the 3rd wave of layoffs in recent months at the company, which has been trying to cut costs and show investors a clearer path to eventual profitability. Uber's stock price, which is still not back to IPO levels, went up 4% on the news.

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Dion Rabouin, author of Markets

1 hour ago - Economy & Business

Investors are betting the future is priced in euros

Illustration: Aïda Amer/Axios

It's the euro's time now — at least that's how investors have been positioning recently.

What's happening: Speculators have raised their bets to the highest in nine years that the dollar will fall and increased bullish bets that the euro will rise to the highest level on record, Reuters reported citing data from the CFTC.

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Axios

Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Annelise Capossela/Axios

Global: Total confirmed cases as of 9 a.m. ET: 20,372,619 — Total deaths: 743,344— Total recoveries: 12,609,775 — Map.
U.S.: Total confirmed cases as of 9 a.m. ET: 5,141,879 — Total deaths: 164,545 — Total recoveries: 1,714,960 — Total tests: 63,252,257 — Map.
Business: U.S. already feeling effects of ending unemployment benefits — U.S. producer prices rose last month by the most since October 2018.
Public health: America's flying blind on its coronavirus response.

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Mike Allen, author of AM

3 hours ago - Politics & Policy

3 keys to Joe Biden picking Kamala Harris

Photo: Jeff Kowalsky/AFP via Getty Images

Three quick points about Joe Biden's historic selection of Sen. Kamala (pronounced COMMA-luh) Harris of California as his running mate — and clues they give us to how Biden would govern:

She was always at the top of his list. As I look back through my text threads with top Dems over the past five months, she was always assumed to be the most likely pick.