Lyft acts responsibly; joins rivals in slowing down hiring
In an attempt to make up for its eroding share price, ride-hailing firm Lyft Inc. said on Tuesday that it would slow down hiring, reduce the budgets of some of its departments, and grant new stock options to some employees.
Snap falls sharply after profit warning, drags rivals with it
Shares of the social media company Snap Inc. plunged as much as 30% in extended trading Monday after warning that it may miss its second-quarter guidance and cut its revenue and profit forecasts below the low end of previous expectations.
Airbnb quits business in China amid competition and lockdowns
On Tuesday, Vacation rental firm Airbnb Inc. decided to vacate its Chinese operations amid stiff competition and strict lowdowns, joining a long list of Western internet platforms that have opted out of the China market.
Disappointing results from major retailers last week rattled markets already hit by uncertainty over inflation, rising interest rates, geopolitical uncertainty and the prospect of recession. Here's what's ahead of this week's markets:
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