Lyft logo is seen in this illustration taken June 27, 2022.Dado Ruvic | ReutersU.S. ride-hailing firm Lyft on Wednesday announced that it’s buying European taxi app Free Now in a 175 million euro ($199 million) deal.The company said that the acquisition — Lyft’s first in Europe — is expected to close in the second half of 2025, and that, once combined, the two companies will serve over 50 million combined annual users.Founded in 2009 as myTaxi, Free Now is a ride-hailing platform headquartered in Hamburg, Germany. The company has been jointly owned by German automotive giants BMW and Mercedes-Benz since…
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Shares of Lockheed Martin could be slated for more gains from here, according to Morgan Stanley. The firm upgraded the global aerospace and defense company to overweight from equal weight and hiked its price target on the name to $575 from $525, which implies more than 22% upside from Tuesday’s close. “With international business representing ~27% of sales / ~30% of backlog, we see LMT as a prime beneficiary of higher potential Defense exports,” analyst Kristine Liwag wrote in a Wednesday note to clients. “Despite some expressed hesitation around F-35 commitments (e.g., Canada), we see few alternatives to the world’s…
A trader works on the floor of the New York Stock Exchange during morning trading on April 15, 2025 in New York City. Adam Gray | Getty ImagesS&P 500 futures slipped early Wednesday as investors assessed a stark warning from Nvidia that pressured global tech.Futures tied to the S&P 500 and Nasdaq 100 dipped 0.8% and 1.5%, respectively. Dow Jones Industrial Average futures shed 31 points, or 0.1%.Shares of Nvidia dropped more than 6% after the chip giant said it will post a $5.5 billion quarterly charge related to exporting its H20 graphics processing units to China and other nations.…
This photo taken on Jan. 30, 2025 shows the European Central Bank ECB headquarters in Frankfurt, Germany.Zhang Fan/Xinhua via Getty ImagesThe European Bank is widely expected to trim interest rates for the third time this year as global tariff tensions and uncertainty threaten the euro zone’s economic growth.As of Wednesday, markets were last pricing in a roughly 94% chance of a quarter-point interest rate cut from the central bank and a close to 6% likelihood of a larger, 50-basis-point reduction according to LSEG data.A quarter-point cut would take the ECB’s deposit facility rate, its key rate, to 2.25% — down…
Artificial intelligence’s place in our world is growing rapidly, disrupting entire industries and changing the way people live and work. CNBC spoke with several business and tech leaders at the CONVERGE LIVE event in Singapore about the challenges and opportunities presented by the adoption of AI.”If you look at AI, what does it do? It actually improves human productivity,” Alibaba’s chairman Joe Tsai told CNBC’s David Faber. “Look at global GDP. About $100 trillion of global GDP, 60% of that is labor income. Let’s say 20% of that $60 trillion can be enhanced by AI, and AI can do the job at…
Nvidia warned it will record a $5.5 billion quarterly charge linked to exporting H20 graphics processing units to China, as well as other destinations, leading some analysts to trim their outlook on the chipmaker. Bank of America and Piper Sandler were among the shops that lowered their price targets on Nvidia following the company’s announcement. In a regulatory filing, Nvidia disclosed that the the federal government told Nvidia it would need a license to export the chips to China and other countries. The news sent Nvidia shares tumbling more than 4%, pressuring other semiconductor names as well. Major tech stocks…
Measles cases are most likely being underreported in the United States as public health officials scramble to find resources to address a ballooning outbreak in the Southwest, according to a senior scientist at the Centers for Disease Control and Prevention.So far this year, 747 cases have been recorded in the United States, according to NBC News’ tally. Two unvaccinated children in Texas and an unvaccinated adult in New Mexico have died. The adult tested positive for measles, but the official cause of death is still under investigation. Dr. David Sugerman, a senior scientist leading the CDC’s measles response, said Tuesday at a meeting…
There’s a lot to discuss in Canada ahead of its April 28 election, including tariffs, inequality and President Trump’s threats to annex the country.But a political debate in Montreal on Wednesday night won’t have a prime time slot. That is because many Canadians would rather watch a hockey game that evening.A French-language debate between five leaders of Canadian political parties had been scheduled for 8 p.m. Eastern. But after two party leaders complained that the debate would compete with a 7 p.m. Montreal Canadiens game, the debate’s start time was moved up by two hours.“Citizens therefore will not have to…
The entrance to Google’s U.K. offices in London.Olly Curtis | Future Publishing | via Getty ImagesLONDON — Google is being sued for over £5 billion ($6.6 billion) in potential damages in the U.K. over allegations that the U.S. tech giant abused its “near-total dominance” in the online search market to drive up prices.A class action lawsuit filed Wednesday in the U.K. Competition Appeal Tribunal claims that Google abused its position to restrict competing search engines and, in turn, bolster its dominant position in the market and make itself the only viable destination for online search advertising.It is being brought by…
‘Too early to tell’ tariff impact on ASML, analyst saysBen Barringer, equity research analyst at Quilter Cheviot, discusses Dutch chip equipment giant ASML’s first-quarter results and the potential impact U.S. tariffs may have on the semiconductor industry.CNBC Pro: A ‘stimulus wave’ is set to wash over Germany — and these stocks could benefitBetween Germany’s new coalition agreement and the country’s recent fiscal U-turn, stimulus is set to soar in Europe’s biggest economy.The fiscal package enshrined in Germany’s constitution in March includes changes to long-standing debt rules, paving the way for higher defense spending and a 500 billion euro ($548 billion) infrastructure and climate fund.Germany’s coalition…
