Tag: JP Morgan

Lyft’s main taxi business is already profitable in some areas, but self-driving cars and bike-sharing are eating into that revenue

A man rides a Lyft scooter near the White House in Washington DC Reuters

JPMorgan says Lyft’s core ride-hailing business is already profitable in certain markets.

It’s other bets on things like bikes, scooters, and self-driving cars that are dragging down the company’s balance sheet.

Other Wall Street analysts have also raised their estimates and targets for Lyft following second-quarter earnings that topped expectations.

JP Morgan is rolling out the first US bank-backed cryptocurrency to transform payments business
Engineers at the lender have created the “JPM Coin,” a digital token that will be used to instantly settle transactions between clients of its wholesale payments business.
Only a tiny fraction of payments will initially be transmitted using the cryptocurrency, but the trial represents the first real-world use of a digital coin by a major U.S. bank.
While J.P. Morgan’s Jamie Dimon has bashed bitcoin as a “fraud,” the bank chief and his managers have consistently said blockchain and regulated digital currencies held promise.