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Illustration: Lazaro Gamio/Axios

Uber's losses continue to grow this quarter, as the ride-hailing giant doubles down on competitive markets, but it's also touting the growth of its food delivery business, UberEats, whose gross bookings grew more than 150% in the past year.

Why it matters: Uber plans to go public next year, but it has yet to turn a profit.

The top line: $2.95 billion in revenue for Q3, up 38% year-over-year, and a 5% increase from the previous quarter.

  • Gross bookings hit $12.7 billion for the quarter, up 34% year-over-year (or 41%, excluding the impact of the Grab and Yandex transactions), and up 6% from Q2.
  • UberEats brought in $2.1 billion in gross bookings (more than 150% increase from a year ago). In May, CEO Dara Khosrowshahi said the business had hit a $6 billion bookings run rate, or $500 million in monthly bookings at the time.

The bottom line: Net loss for the quarter on a GAAP basis was $1.07 billion — larger than Uber's loss of $891 million in Q2, an increase that the company attributes to spending more on growth in "competitive markets" like the U.S., India and the Middle East, as well as on bikes and scooters.

  • Adjusted EBITDA loss (Uber's preferred metric) was $527 million for the quarter (24% larger than the previous quarter, but 13% smaller than a year ago).

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  2. World: Boris Johnson announces month-long COVID-19 lockdown in England — Greece tightens coronavirus restrictions as Europe cases spike — Austria reimposes coronavirus lockdowns amid surge of infections.
  3. Economy: Conference Board predicts economy won’t fully recover until late 2021.
  4. Technology: Fully at-home rapid COVID test to move forward.
  5. States: New York rolls out new testing requirements for visitors.
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Boris Johnson announces month-long COVID-19 lockdown in England

Prime Minsiter Boris Johnson. Photo: NurPhoto / Getty Images

A new national lockdown will be imposed in England, Prime Minister Boris Johnson announced Saturday, as the number of COVID-19 cases in the country topped 1 million.

Details: Starting Thursday, people in England must stay at home, and bars and restaurants will close, except for takeout and deliveries. All non-essential retail will also be shuttered. Different households will be banned from mixing indoors. International travel, unless for business purposes, will be banned. The new measures will last through at least December 2.

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The massive early vote

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Early voting in the 2020 election across the U.S. on Saturday had already reached 65.5% of 2016's total turnout, according to state data compiled by the U.S. Elections Project.

Why it matters: The coronavirus pandemic and its resultant social-distancing measures prompted a massive uptick in both mail-in ballots and early voting nationwide, setting up an unprecedented and potentially tumultuous count in the hours and days after the polls close on Nov. 3.