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Uber's new roadmap to profitability draws Wall Street praise

Chief Executive Officer Dara Khosrowshahi is also aiming to bring in more repeat-customer business and try to increase use of premium ride services. “We give Uber (and its board) major credit for finally listening to investors and putting the brakes on its 1980’s Rock Star-like spending habits,” brokerage Wedbush Securities said. Khosrowshahi has been trying to change the company’s image since replacing co-founder Travis Kalanick in 2017 after a series of complaints over his behavior. …read more […]

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Ford names Jim Farley COO, Hinrichs to retire

Ford Motor Co on Friday said the top executive Jim Farley will assume the position of chief operating officer, positioning him as potential heir to Chief Executive Jim Hackett. Farley, president of new businesses, technology and strategy, has been viewed as one of the potential successors to Hackett, who took over in 2017. The news comes three days after Ford offered investors a disappointing 2020 profit outlook. …read more […]

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AbbVie leans on new treatments to forecast upbeat 2020 profit

The drugmaker expects the two treatments, Skyrizi and Rinvoq, to bring in a combined revenue of about $1.70 billion in 2020. The profit forecast excludes any impact from its $63 billion deal for Botox-maker Allergan Plc , which it expects to close in the first quarter. “The launches of Skyrizi and Rinvoq are going extremely well,” Chief Executive Officer Richard Gonzalez said in a statement. …read more […]