Uber Reports Massive Losses and Big Layoffs Hit Silicon Valley

Uber Reports Massive Losses and Big Layoffs Hit Silicon Valley

Here is a quick rundown of the business news you may have missed today:

Uber’s Quarterly Net Loss Grows to $2.9 Billion

The popular ride-sharing company has reported their first-quarter results, and they are a staggering loss of $2.9 billion. This includes $2.1 billion in impairment charges from companies in which Uber has stake. This is Uber’s biggest loss in three quarters.

Moderna Shares Surge After Vaccine Approved for Phase 2 Trial

After the Food and Drug Administration approved Moderna’s coronavirus vaccine for Phase 2 testing, their shares surged.

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The company said it will begin Phase 2 with 600 participants soon and is finalizing plans for Phase 3 to be this summer.

Google Informs Employees They Can’t Expense Food While Working from Home

Employees of Google won’t be allowed to expense food or gym costs while working from home, even if they have extra money from any unused event or travel budgets.

The company issued their updated policy last week that states employees can’t expense perks while at home, including working from home, including food, fitness, home office furniture, decoration or gifts.

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