Uber loses $2.9 bn in coronavirus crisis, drops bike and scooter business
Uber lost $2.9 billion in the first quarter as its overseas investments were hammered by the coronavirus pandemic , but the company is looking to its growing food delivery business and aggressive cost-cutting to ease the pain. The ride-hailing giant said Thursday it is offloading Jump, its bike and scooter business, to Lime, a company in which it is investing $85 million. Jump had been losing about $60 million a quarter. Read More