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Her mother Sarah — a former deli shop owner — was bored with retirement and had decided to open an ice cream shop in Bethesda, Maryland. "To be honest, at first I was like, 'ice cream shop?'" Running the ice cream shopDespite Sarah's Handmade Ice Cream successful grand opening, it took over six months for the business to become "a well-oiled machine," Park says. Instead, Park and her mother donate ice cream to local nonprofits and community organizations, which has attracted loyal customers in the Bethesda area. Within a few months of opening the first store, Park realized the business didn't have to be limited to just "a mom-and-daughter shop."

☆ Post-Covid, post-bankruptcy Hertz is all-in on electric, with big implications for the EV, auto and rideshare market
▼ + stars: | 2023-05-14 | by ( Tim Mullaney | ) www.cnbc.com time to read: +5 min

In this article HTZ Follow your favorite stocks CREATE FREE ACCOUNTTesla Model 3 electric vehicles at a Hertz neighborhood location. These deals began to roll out last year, after Hertz's first Teslas hit the road in 2021 and experiments with rental EVs extended back over the past decade. "At the end of [March], we had about 50,000 electric vehicles in our fleet, comprising approximately 10% of total cars," Scherr said. Hertz has also told analysts that the growing EV rideshare market can be a buffer against traditional quarterly peak to trough experienced in the leisure business. The benefits of using an EV begin with a $1 per ride credit to the driver for using an EV, Uber spokeswoman Alix Anfang said.

☆ How Lyft’s new CEO is ‘copying’ his former boss Jeff Bezos to turn around the company
▼ + stars: | 2023-05-12 | by ( Catherine Thorbecke | ) edition.cnn.com time to read: +5 min

Days after taking over as the new CEO of Lyft (LYFT) last month, Risher announced plans to “significantly reduce” the company’s workforce and stressed that the decision was his. The next week, Lyft (LYFT) revealed the extent of the layoffs: 26% of the staff, or more than 1,000 employees, would lose their jobs. It has lagged behind its chief rival, Uber (UBER), in recovering from the pandemic shock to business. And that really is Jeff Bezos,” Risher told CNN. “It’s not our focus to be part of somebody else’s company,” Risher said.

☆ A $6 trillion AI boom is just starting. Here are 5 ways for investors to capitalize on the tech revolution, according to Morgan Stanley.
▼ + stars: | 2023-04-26 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +4 min

AI is at an "inflection point" that could allow investors and companies tap into a $6 trillion opportunity, Morgan Stanley said. "We see AI accelerating digital transformation and tech diffusion across the economy," analyst Brian Nowak said in a note. AI-driven search tools could power stronger recommendation engines for social media and e-commerce, create better content-production tools and improve shared-economy marketplaces for transportation and other services, the bank said in the note. "We see AI accelerating digital transformation and tech diffusion across the economy," Morgan Stanley Research's internet analyst Brian Nowak said in a research note. Travel"Though 76% of travel is already being booked online, digital travel platforms are well-positioned to capitalize further on their large and unique data sets.

☆ How to talk to your aging parents about safe driving
▼ + stars: | 2023-03-30 | by ( Chris Taylor | ) www.reuters.com time to read: +5 min

One person may represent a danger on the roads at age 65, while another may be perfectly fine at age 85. Upgrades can help them stay safe, including technologies to keep drivers from drifting out a lane, backup cameras and various other detection systems. Special licensing requirements for elderly drivers can help screen out problems with vision and cognition. Some states require more frequent renewal for older drivers, or demand regular vision checks, or prohibit online renewals altogether. For a few hundred dollars a year, you could get a $1 million policy that should let everyone sleep better at night – both you, and your parents.

☆ Stock futures are flat on Monday evening: Live updates
▼ + stars: | 2023-03-27 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Stock futures inched higher in overnight trading after the S&P 500 posted its third positive session in a row and banking sector concerns continued to ease. Meanwhile, S&P 500 and Nasdaq 100 futures added 0.11% each. Investors fought to extend last week's gains, but tech shares came under pressure. The Dow Jones Industrial Average added 194.55 points, or 0.6%, while the S&P 500 gained 0.16%. Beaten-up regional banking stocks, including First Republic , climbed along with the SPDR S&P Regional Banking ETF (KRE ).

☆ Lyft CEO and president to step down, former Amazon exec David Risher named as replacement
▼ + stars: | 2023-03-27 | by ( Rohan Goswami | ) www.cnbc.com time to read: +1 min

Lyft 's cofounders, CEO Logan Green and president John Zimmer, will soon step back from their day-to-day roles, the company announced on Monday. David Risher, a former retail executive at Amazon , will be CEO of the ridesharing company beginning April 17, when Green will step aside to serve as chair of the board. Zimmer will transition out of his role on June 30 to serve as vice chair of the Lyft board. Lyft shares have fallen more than 70% in the last year. Risher joined Amazon in 1997 as its first vice president of product and store development.

☆ Surge pricing is increasingly being used in restaurants and movie theaters, making everyday activities much more expensive
▼ + stars: | 2023-03-14 | by ( Hannah Getahun | ) www.businessinsider.com time to read: +3 min

Dynamic pricing is being used to set prices for activities beyond ridesharing and concert tickets. Experts warned businesses would most likely implement surge pricing in response to the pandemic. "This strikes me as outrageous for a pedestrian family activity," Yenni told the Journal. Insider previously reported that AI-driven dynamic pricing is making its way through business sectors like retail and grocery stores to keep up with changing market demands post-Covid. A startup meant to help restaurants set their own surge prices has also been created, and has helped some establishments double their profits, Insider's Nancy Luna reported.

☆ Uber and Lyft shares rise after California court victory lets them classify drivers as contractors
▼ + stars: | 2023-03-13 | by ( Rohan Goswami | ) www.cnbc.com time to read: +2 min

In Nov. 2020, California voters approved Proposition 22, which allowed ride-sharing and delivery app makers to classify their drivers as independent contractors. Ride-sharing apps, including Uber and Lyft, can continue to treat their drivers as independent contractors, a California appeals court ruled on Monday, overturning a lower-court decision that barred them from doing so. It was the most expensive ballot issue in California's history, with ride-share companies contributing over $181 million to the "Yes" campaign. A group of ride-share drivers sought to strike down Proposition 22, and won a lower court decision. "Proposition 22 does not intrude on the Legislature's workers' compensation authority or violate the single-subject rule," the opinion read.

☆ This fund manager says a bull market might be on the horizon — and names her top stock picks
▼ + stars: | 2023-02-15 | by ( Zavier Ong | ) www.cnbc.com time to read: +3 min

Stock markets seem to be slowing after a strong start to the year. But though bearish sentiment has seeped into the market, fund manager Barbara Doran is taking a contrarian view. Part of that was just bear market positioning but with the breadth that we saw in January, this is feeling like the start of, dare I say, a bull market," Doran told CNBC's " Street Signs Asia " last week. Stock picks One of Doran's top stock picks is Uber — and she's given the stock upside of between 25% and 50%. And the stock is in the camp where there is no [price-to-earnings] because there's no earnings, but I think there's substantial upside here," she said.

☆ US stocks end mixed after volatile session as indexes notch weekly losses
▼ + stars: | 2023-02-10 | by ( Brian Evans | ) www.businessinsider.com time to read: +1 min

US stocks closed mixed on Friday after a volatile trading session amid weak earnings reports. The S&P 500 suffered its first weekly loss in three weeks and notched its worst one-week decline since December. But the Nasdaq led the weekly sell-off with a drop of more than 2%. The S&P 500 suffered its first weekly loss in three weeks and notched its worst one-week decline since December. Trading on Friday began in the red amid some weak earnings reports.

☆ Stocks making the biggest moves midday: Lyft, Spotify, Expedia, Yelp and more
▼ + stars: | 2023-02-10 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

Expedia — The travel company's stock toppled nearly 8% after falling short of analysts' revenue and earnings expectations for the recent quarter. Yelp — Yelp's stock jumped 4% after fourth-quarter revenue beat analysts expectations, according to Refinitiv. Deutsche Bank — Shares fell 3% after Bank of America downgraded Deutsche Bank to underperform from neutral, saying the European bank is "struggling to improve profitability." The decline in shares came despite a top-and-bottom line beat on analysts' expectations, according to FactSet. Adjusted earnings before interest, taxes, depreciation and amortization for the fourth quarter came in below analysts' expectations, according to FactSet.

☆ Analysts bail on Lyft after latest earnings, say Uber is cementing its place as leader
▼ + stars: | 2023-02-10 | by ( Sarah Min | ) www.cnbc.com time to read: +4 min

Lyft shares fell more than 30% during Friday premarket trading as traders weighed a weaker-than-expected forecast from the ridesharing company in its most recent earnings report. LYFT 1D mountain Lyft shares tumble For market observers on Wall Street, that was hardly a good enough explanation. As of Thursday's close, Lyft shares jumped more than 47%, following a 74% drop in 2022. While the analyst did not have a price target available, his previous target in January was $24 for the stock. Lastly, Loop Capital's Rob Sanderson downgraded Lyft to hold from buy, and dropped the price target to $10 from $17.

Read our review Read Our Review A looong arrow, pointing rightThe Marriott Bonvoy Bold® Credit Card comes with an increased limited-time welcome bonus and good perks for a no-annual-fee card, but unless paying an annual fee is a dealbreaker for you, other Marriott cards — like the Marriott Bonvoy Boundless® Credit Card, Marriott Bonvoy Brilliant® American Express® Card, or Marriott Bonvoy Business® American Express® Card — are a better deal. Review: Is the Marriott Bonvoy Bold Credit Card the Best Credit Card for You? How to Earn Points With the Marriott Bonvoy Bold Credit CardThe Marriott Bonvoy Bold® Credit Card doesn't have as generous an earning structure as other Marriott credit cards, but you'll still have the opportunity to earn bonus points when you travel. Generally, the Marriott Bonvoy Bold® Credit Card requires a good to excellent credit score to be eligible, which means a FICO score of at least 670.Who is eligible for the Marriott Bonvoy Bold? You're also not eligible if you already have a Marriott Bonvoy Bold® Credit Card, Marriott Bonvoy Boundless® Credit Card, or Marriott Bonvoy® Premier credit card (not available to new applicants) open, or earned the welcome bonus from one in the past 24 months.

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☆ Even if ChatGPT doesn't take your job, it could help another human replace you, says the economist who famously concluded AI could eliminate nearly half of US jobs
▼ + stars: | 2023-02-07 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +7 min

In 2013, Oxford economist Carl Benedikt Frey estimated that nearly half of all US jobs could be replaced by AI. So rather than having your job "outright replaced," Frey says, ChatGPT's adoption may ultimately result in a different outcome — being replaced by another human. That said, he believes the study's estimates regarding potential AI job replacement are still "broadly on target." "We may be more focusing on generating the right ideas, asking the right questions, things that are more interesting." That's because there are arguably some things ChatGPT can't learn from scouring data from millions of websites.

☆ Uber to steal a march on Lyft in resurgent rideshare market
▼ + stars: | 2023-02-07 | by ( ) www.reuters.com time to read: +3 min

Feb 7 (Reuters) - Uber Technologies Inc's (UBER.N) revenue growth is set to outpace that of rival Lyft Inc (LYFT.O) as the rideshare firm's presence in major markets around the world gives it the heft to deal with inflationary pressures. Dara Khosrowshahi-led Uber operates in multiple regions and has over the years built a massive food and grocery delivery business, while Lyft has mainly focused on rideshare in the United States. "Lyft is on the losing end of Uber's mobility and delivery network effect ... in a world of increasing focus on profitability, Lyft does not deliver," MoffettNathanson analyst Michael Morton said. Analysts expect a fourth-quarter revenue increase of 19% for Lyft and 47% for Uber, according to Refinitiv data. "When we look at driver time spent data on a 2-year growth basis our concerns on Lyft losing market share are magnified ... we come away more concerned about Lyft's need to invest in incentives," UBS analyst Lloyd Walmsley said.

☆ Uber’s CEO almost said no to the job—then Spotify’s CEO convinced him to take it
▼ + stars: | 2023-01-28 | by ( Morgan Smith | ) www.cnbc.com time to read: +3 min

When Uber first approached now-CEO Dara Khosrowshahi about leading the company, he ignored the call. It was 2017, and the rideshare app was going through a "historically difficult time," Khosrowshahi told LinkedIn CEO Ryan Roslansky in a recent interview. He was entering his twelfth year as Expedia's CEO, and still "having a great time," he told Roslansky. He was prepared to call Uber's board of directors and take himself out of the running for CEO — until one conversation with a friend changed his mind. The following morning, Khosrowshahi called the head hunter back — and in August 2017, he was announced as Uber's new CEO, after a unanimous vote from the board.

☆ KeyBanc upgrades Lyft, says stock can rally more than 50% as demand stabilizes
▼ + stars: | 2023-01-24 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Lyft shares could see big gains as the ride-share company cuts costs and sees demand stabilize, KeyBanc said. Analyst Justin Patterson upgraded the stock to overweight from sector weight. He also set a price target of $24, implying an upside of 55.7% over Monday's close. He also Lyft's cost-cutting actions including a 13% reduction in workforce in early November helped drive EBITDA upside. He said there's upside to current estimates due to money-saving initiatives and a recovery in the U.S. west coast market.

☆ Here are Tuesday's biggest analyst calls: Apple, Disney, Target, AMD, Tesla, Coinbase, Amazon & more
▼ + stars: | 2023-01-24 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

Here are Tuesday's biggest calls on Wall Street: Morgan Stanley reiterates Apple as overweight Morgan Stanley said it's standing by it's overweight rating on Apple shares heading into earnings on Feb. 2. Bernstein reiterates Apple as market perform Bernstein said it's "ambivalent" about Apple shares heading into earnings next month. Bernstein downgrades Advanced Micro to market perform from outperform Bernstein said it's concerned about a deteriorating PC market. Morgan Stanley upgrades Marathon Oil to overweight from neutral Morgan Stanley said Marathon Oil has "peer-leading FCF and shareholder returns." Morgan Stanley reiterates Ford as overweight Morgan Stanley said it sees opportunity for Ford to "to exercise its self-help muscle."

☆ Get ready for a gig-worker boom that could make it harder for contractors to earn a living
▼ + stars: | 2023-01-22 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +5 min

Current gig workers could end up worse off because of the added competition. Many US gig workers are already struggling to earn a steady income. He says it's been very difficult for him to get ahead financially since he began gig work in 2019. If more competition does come, gig workers will have to decide whether the income justifies the hours they're putting in. Some full-time gig workers, who research has found account for roughly 3% of US adults and between 30 and 60% of overall gig workers, are making over six figures.

☆ This is the No. 1 career mistake young people make 'all the time,' says Uber's CEO—how to avoid it
▼ + stars: | 2023-01-19 | by ( Morgan Smith | ) www.cnbc.com time to read: +2 min

While some people might argue that the secret to success lies in creating a detailed, linear path to your ultimate career goal, Uber CEO Dara Khosrowshahi says over-planning isn't just ineffective — it can torpedo your chances of building a fulfilling career. "Don't over-plan your career … I see young people make this mistake all the time," Khosrowshahi told LinkedIn CEO Ryan Roslansky in a new interview published Thursday. "I've never been in a hurry in my career, because if you're open, and you really want to hone your craft, it's so much more satisfying [to take your time]." "People talk about financial compounding — there's a career compounding that's magical. Here's how to pick them and stick to themSign up now: Get smarter about your money and career with our weekly newsletter

WASHINGTON, Jan 17 (Reuters) - The Justice Department on Tuesday asked an appeals court panel to reverse an April 2021 ruling that declared unlawful a government order requiring masks on airplanes, buses, trains, ridesharing services and at airports and other transportation hubs. The CDC issued the sweeping mask mandate in January 2021, days after Joe Biden became president. A report from U.S. lawmakers in October said the Trump administration in 2020 blocked the CDC from adopting a federal transportation mask mandate. "This is not about an urgent matter of public health," Hadaway told the court. He argued that had the CDC believed the issue was a "matter of life and death" the agency would have sought a faster ruling.

☆ U.S. senator Manchin says Treasury should limit commercial EV tax credit use
▼ + stars: | 2022-12-13 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

Senator Joe Manchin, a Democrat who chairs the chamber's energy panel, asked the Treasury Department on Tuesday not to allow a commercial electric vehicle tax credit to be used for consumer leasing, rental cars or ridesharing vehicle sales, rejecting a broad interpretation of the credit. Reuters first reported last week the push by South Korea and some automakers that asked the Treasury Department to allow use of the commercial electric vehicle tax credit to boost consumer EV access as well as for the purchase of ride share and rental car vehicles. The $430 billion U.S. Inflation Reduction Act (IRA) passed in August ended $7,500 consumer tax credits for electric vehicles assembled outside North America, angering South Korea, the European Union, Japan and others. The commercial credit known as "45W" does not, however, have the sourcing restrictions of the consumer credit called "30D." Hyundai (005380.KS) and Kia (000270.KS) want the U.S. Treasury to allow people leasing EVs to benefit from commercial credits and to qualify for up to a $4,000 tax credit for used EVs if they buy vehicles when leases expire.

☆ Getaround stock crashes after carsharing company goes public in SPAC deal
▼ + stars: | 2022-12-09 | by ( Barbara Collins | ) www.cnbc.com time to read: +2 min

Carsharing company Getaround made its public market debut Friday through a merger with blank-check company InterPrivate II Acquisition Corp. The company saw its share value drop more than 65%, reflecting the chilly environment for both SPACs and ridesharing companies. SPACs, or special purpose acquisition companies, raise capital through an IPO to acquire or merge with existing companies, aiming to eventually take the companies public in a two-year time frame. For SPACs that did go public, they haven't fared well: the CNBC SPAC Post Deal Index has fallen over 60% in the past year. Public ridesharing companies have been struggling as well.

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