First to our lead, uber losses widened in the third quarter. The Ride Hailing Service lost almost 1. 5 billion in the period. It all came to light as shareholders reported tuesday night as part of a formal bid from a softbankled consortium looking to buy a large portion of stock. Softbank to get a nice discount. Theres a 30 discount to its last private valuation, coming in at 69 billion. We caught up with someone intimately familiar with ubers inner workings, lane castleman, the managing partner at greenbrier and the former head of uber communication in the americas, and eric newcomer. This is the opening salvo from softbank. And its consortium of investors saying, we will pay 33 a share, which translates into that 48 48 billion dollars valuation, and see if we can get enough people to bite at that to meet the 14 of outstanding shares of we want to acquire. Molly and what is the likelihood of them acquiring that . You know, there is a lot of appetite for liquidity and that is what soft
Temperatures will be climbing into the low 50s later this afternoon, despite it being per on the despite it being on the breezy side. Maybe you still have to work like the rest of us. Nice and dry, cleared to partly cloudy. 40 degrees at 5 00, dropping down to 30 degrees by 9 00. We are not tracking a white christmas, but it will be a little bit wetter part of the holiday weekend. More on the timing of that coming up in 10. Lets see how things are looking on the roadways. Hopefully pretty quiet the week before christmas. Julie so far, so good. Not a lot happening early. You will find lanes are open. At the wilson bridge, still a lot of green on the map. Top side of the beltway, leaving colesville road headed to the exit for 270, starting to see volume increase. Incident free on westbound 95 headed to 270. For those working on easou toward the beltway, you are to 495. Speed, 234 in the next 10 minutes we will update your ride on 95 in virginia. Autria Fairfax County police are respondin
Raise 2 billion. Haidi haidi Oil Producers considering extending cuts. Six nations say more time is needed to train the global glut. Rishaad China Southern confirming a stake sale with American Airlines worth 200 million. Suspended butock should resume when the session gets underway. , thatlooking at kaisa forerty developer suspended two years will resume trading. So a lot to look for two in the session ahead. Haidi absolutely. We are seeing a risk off session so far to kickoff the trading day. Lookof fence the two forward to, janet yellen speaking on tuesday, and as you said, hope springs eternal. Aroundd get more color this Monetary Policy trajectory out of the u. S. Given disappointment and concern over President Trumps Political Capital and ability to push through these tax progrowth policies. We are 30 minutes away from that open. Lets get it over to sophie with a look at the markets. What a great way to start off the week in asia. Sophie risk off this monday. We do have singapore
You are taking that argument apart this week. Ellen yes, we are saying he is less like mussolini than the former Prime Minister of italy. Over the last 10 years, democracy has waned all over the world after it being on the upswing. If you look at freedoms, freedom is on the downswing as well. More and more, you see leaders describe him as having a blow torch manner. Leaders like trump who are a little bit in that mold coming to the fore. David using the media in the way that berlusconi did. Ellen right. We talk about thailand and turkey, where you have leaders who have been elected and act like david like autocratic, yeah. Carol people say, democracy has not made the situation that much better, so maybe they will try something different. Ellen exactly. The connection between democracy and economic growth, it feels like it is breaking down, even if you look longterm at the numbers. The economy, longterm do better in democracies than totalitarian states. In the short term, people are not
And yet the resiliency is relatively strong. We have got stabilization today after those big swings we have seen over the past couple of sessions of at least 1 in the s p. Now we are not seeing moves that are quite as large although the nasdaq is rising to the highs of the day, up three quarters of 1 . We are seeing some of that volatility come out of the. Arket in terms of drags, volatility is here to stay when it comes to oil prices. We have Weekly Oil Inventories creating a spike in oil and then a drop. It is down 1. 8 and that is because on the one hand there was an unanticipated drawdown in Oil Inventories on the weekly basis. That was a surprise. There was a huge drawdown last week because of hermine and there was expected to be a bounce back. There was a huge increase in distillate inventory. T was what is pushing putting pressure on oil and oil is down as a result. Thehe flipside, one of biggest supports for the market today is apple which is contributing more than two and a ha