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Investors hail Lyft shares in IPO, see profits down the road

Investors hail Lyft shares in IPO, see profits down the road

Technology
Lyft's shares soared as the company went public Friday, giving investors their first chance to bet on the future of the ride-hailing industry. The stock opened at $ 87.24, up 21 percent from its offering price of $ 72. It closed at $ 78.29, up 8.7 percent, giving the company a $ 27 billion valuation. Investors embraced Lyft despite an uninterrupted history of losses totaling nearly $ 3 billion since its 2012 inception on the premise that its growing popularity will pay off in the long run. The company has lured new riders and taken market share from Uber — and now it's beaten its larger rival in the race to sell shares to the public. Still, Lyft's path to profitability is uncertain, and it's under pressure to keep prices low as it competes for customers with Uber and traditional taxi comp
Investors should always have gilt funds in their portfolio, says Prashant Pimple of Reliance MF

Investors should always have gilt funds in their portfolio, says Prashant Pimple of Reliance MF

Finance
Gilt funds are suitable for investors with absolutely no appetite for credit risk and with willingness to stay invested for three to five years or more, says Prashant Pimple, fund manager, Reliance Gilt Fund. Edited Interview Gilt funds are giving an average return of 8.23 per cent in one year. What contributed to it? Last year gilts as a category has outperformed most of the asset classes as yields on G-secs fell on account of Open Market operations (OMO), under which RBI buys G-secs from market to provide liquidity, rate cut of 25 bps by RBI and lower inflation readings. The 10-year G-sec yield made a high of 8.15% on supply worries in Sep 2018 but as RBI conducted more and more OMOs and followed by rate cut and further expectations of rate cuts markets took comfort with yields trading ...
Here's how investors can save the planet and still make some money

Here's how investors can save the planet and still make some money

Finance
You've read it in the headlines: Temperatures are rising and icebergs are melting. And as more evidence points to the growing influence of climate change, one area is sure to be impacted: big business. As evidence, take PG&E's recent bankruptcy filing following the wildfires that ravaged California over the past two years. The company's equipment has been blamed for contributing to those disasters. But another factor — the hotter climate and drier terrain in California and broader region — also contributed to the problem. ...
Investors rip M&S as it bags Ocado food delivery deal

Investors rip M&S as it bags Ocado food delivery deal

Business
By James Sillars, business reporter Marks and Spencer (M&S) is facing a backlash from investors following confirmation of a deal with Ocado that will see the retailer's food delivered to homes for the first time.The companies announced the joint venture less than 24 hours after it admitted that talks were taking place, prompting sharp increases in their respective share prices. But M&S shares tanked by almost 10% when the market opened on Wednesday after it became clear shareholders were being asked to fund the bulk of the £750m investment and take a dividend hit.Ocado's market value rose by more than 3%.M&S said it was paying for a 50% share of Ocado's UK retail arm, which would trade as Ocado.com from September 2020 at the latest. ...