Friday, August 9
Uber posts a $5.2 billion loss as costs from its initial public offering hit earnings, Italy’s prime minister Giuseppe Conte asks for parliament to be recalled so he can hold a vote of confidence and US stocks notched their biggest jump in two months on Thursday after upbeat Chinese data soothed investors’ nerves. Also, Broadcom agrees a deal to acquire Symantec’s enterprise security business for $10.7bn, Kraft Heinz takes another $1.2bn in writedowns, UK prime minister Boris Johnson eyes an election in the days after Brexit and sources tell the FT that at least nine senior figures have been removed from their posts at Turkey’s central bank. Plus, the FT’s US mergers and acquisitions correspondent, Eric Platt, tells us about WeWork’s corporate structure revamp as it prepares to go public.
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