Lyft expects 3,3 billion dollars revenue for 2019

The public listed company Lyft (LYFT) reveiled its results for the first quarter. According to the company,it made a 1,14 billion dollar loss for the period with the revenue of 776 million dollars. The company also estimated that the total year revenue would be 3,3 billion dollars.

Lyft also said that the net loss includes a 894 million dollars of stock-based compensation and payroll tax expenses in connection with the company IPO offering in March. The company raised 2 billion dollars in the listing process.

The company is having 30 million riders and 2 million drivers.The company stock was trading down 4,3% to 56,89 dollars on Wednesday.

The rival company Uber (UBER) is to have its IPO in the New York Stock Exchange on Friday.

Business Travel

Sweden to foster 100% renewables flying by 2045 -DI

Sweden is to foster 100% renewables flying by 2045, according to Swedish Dagens Industri newspaper. Scandinavian SAS (SAS) and Swedavia are one of the actors in the Swedish Initiative, which targets to end the fossil energy flying and to transform 100% renewables by 2045.

According to the CEO of SAS, Mr Rickard Gustafson, the planes can already fly with renewables, but the problem is that there is not enough production to fullfill the needs. And that is why the initiative has been taken in order to solve the big issue of the renewables in big scale in the domestic and international flights.

Swedavia, which operates the airports, has said that their aim is also to produce zero emissions from their own operations by 2020. In January 2019 there were 2.830.000 passangers flying to and from the Swedavias airports in Sweden.

Business Lifestyle Travel

Tesla Q1 release on Wednesday next week  – new governance guide

The US electric car manufacturer Tesla (TSLA) has announced that the company Q1 information will be released on Wednesday, the 24th April. Also the Investor Day related to Autonomous driving would be next week Monday the 22nd April.

Tesla published a couple of weeks ago its last year production figures. According to that, Tesla produced approximately 77 100 total vechiles, of which were 62 950 Model 3. Deliveries were approximately 63000 vehicles, which was 110 % more than the same quarter last year. Also Tesla confirmed that the guidance for this year would be 360000-400000 vehicles deliveries.

Yesterday the company also announced changes to its board. According to information Brad Buss and Linda Johnson Rice wil not seek re-election, which means that the Board size will decrease to nine. The company has also published new governing rule which cuts the term to two years instead of three. This means that there would be also changes in the Board during 2020. The annual shareholder meeting will be on June, the 11th. The new governing rule will help shareholders vote on the Board performance more frequentely.

Tesla share rose 0,75 % to 273,26 dollars in New York before the Easter holidays. During one year period the share has declined 5,85 %. During 2019 the share has plunged 18 %.

Business Finance Tech Travel

Uber self-driving unit gets 1 billion dollar investment

The self-driving unit of Uber has got one billion dollar investment. The company confirmed that three Japanese companies Denso, Toyota and Softbank have bought stakes in that unit. According to Bloomberg, the value of the unit is 7,25 billion dollars.

According to Uber the deal is expected to close during the third quarter. The company is also preparing for the IPO in May in New York.

Business Finance Travel

Uber to make deal with self-driving car unit / WSJ

The US ride-hailing company Uber (UBER) is to make a deal with self-driving car unit, according to the Wall Street Journal on Wednesday. 

According to the news, Softbank, Toyota and Japan-based auto-parts supplier Denso Corp would invest a total of one billion dollars in the deal. The deal is expected to be announced in the next few days.

Softbank is one of the biggest owners of the ride-hailing company with 16 % ownership. The company is preparing for an IPO and listing is expected to start in May.

Business Finance Travel

London to start ultra low emissions zones for drivers

The  City of London has started ultra low emissions zones for drivers in order to improve the air quality in the city. According to new rules, the new ULEZ operates 24 hours a day and every day of the year in the Central London.

According to the press release most vehicles, including cars and vans, need to meet the ULEZ emissions standards or their drivers must pay a daily charge to drive within the zone. The daily charge is 12,50 sterling.

The 100 sterling charge is for heavier vechiles, like lorries (over 3,5 tonnes) and buses/coaches (over 5 tonnes).

 

 

Business Travel