this is the business briefing, lam ben this is the business briefing, i am ben bland. this is the business briefing, lam ben bland. the this is the business briefing, i am ben bland. the bumpy ride continues. uber is taking more than money than ever but profits are still a long way off. plus from metropolis to ghost town. how the coronavirus outbreak has hit shanghai. and on the markets, equities fell in asia after a long rally last week. investors took profit and are taking for some us jobs data on friday. that will give us data on friday. that will give us is snapshot.

we start with irma back because the bumpy ride continues for the bumpy ride continues for the taxi and food delivery giant. it's latest figures show another huge jump in giant. it's latest figures show another hugejump in revenues. it's honest to be profitable. the now, it still using losing money. uber made revenue of more than $4 billion in the last three months of 2019. the revenue is a 37% jump last three months of 2019. the revenue is a 37%jump on last three months of 2019. the revenue is a 37% jump on the same time the previous year. when you look at profits, it is losing money. 0ver when you look at profits, it is losing money. over the same period. that is 24% more than one year ago. uber is spending heavily on its food delivery service as it tries to grab

market share. investors are becoming more confident that uber is on the road to profitability. its shares have been recovering since november that they are trading well below the level of their stock market debut last year. it started at $42 a share. uber has fallen foul of regulators around the world. transport for london ruled the firm wasn't fit and proper to own a taxi operators license but it's able to operate in the city while it appeals. samaria hussein has more. there are two big headlines from uber‘s earnings. the first is that in this last water company lost less money than analysts were expecting. the second takeaway is that you look at the entire year of 2019, uber lost $8.5 billion. also remember, this is a company that has said it will not make a profit until 2021. by far the biggest moneymaker for uber is its right hailing

—— ride—hailing service and in the last three months of last year the company saw an 18% increase in ridership. their food delivery service has also been gaining popularity with a 71% increase in users of uber eats. weighing on the company however our regulatory battles in london and in california. uber lost its license to operate in london, a decision it is appealing. and a new californian law means uber drivers are now considered employees and not contract workers. let's get more on this story from dan ives, managing director of research at webb bush securities new york. the company is selling well, it's got more money coming in yet it's making bigger losses and yet investors seem to think

that actually it's moving in a healthy direction. that has been the quagmire for uber since they went public. it's all about the lack of profitability, even though the business model is so unique. the game—changer here is profitability is coming about three, four quarters quicker than investors expected. stocks have been a train wreck since ipo. this is a major step in the right direction and it's still a work in progress. since stock moved higher. one of the things that we saw in the results is just how much uber is putting into the uber eats side of the business. do you think they are doing the right thing by putting the focus on that? in my opinion, it's a

race to the bottom. it's good money after bad. i think there is more investor pressure. to significantly curtail that, they sold the india business and are going to continue to rationalise it. fundamentally, it's a major overhang with competition from others out there. dan, when we look at the situation in london with the argument over the license, it still subject to an appeal the licensing authority has effectively said uber cannot continue to operate here. how damaging is that when a major global city says no, you're not going to operate. in london, thatis going to operate. in london, that is 4—5% revenue. in california, they really dropped the ball in terms of handholding regulators in

london and that's the biggest thing investors are looking for, what decision is there longer term but no doubt, that continues to be the fuel in the ultimate engine. london, new york, san francisco and la, four of the biggest cities out there. thank you very much dan ives. let's turn our attention to china. 636 people have now died in the coronavirus out back with some 31,000 confirmed cases. there are of the virus has left businesses closed and streets deserted around the country including in china's normally bustling capital shanghai. this is myjourney to work this morning and it has been like this every day. this metro is empty. shanghai is used to several millionjourneys a day but no—one is here. i have my mask on my gloves on and when people do trickle

back to work, the government were worried about this sort of environment because in close quarters like this there is a heightened threat of the virus spreading. this is a metro station, one of the busiest intersections. but all the shops are shut and there is no—one here. it has been like this all week. this is not great for big business but it is truly difficult for small businesses as they try to cope. it is not a ghost town here, there are a handful of people around and a few cars and a few shops open. you can get food and essential stuff at pharmacies but most business is closed. the people who are out do not have anything to go to. there is certainly no work. usually it is a battle to get across this road but right now it is placid and quiet. this is the beginning of the lunchtime rush in shanghai and for the moment there are these guys,

food delivery guys getting out and about. they have been doing business well for a few weeks and they have a protocol about not touching customers when they handed over. i am getting my temperature checked again. this happens daily. error again. 0k. error again. ok. that erroragain. ok. that is error again. ok. that is robin brandt in shanghai. let's stay with that story. china's central bank has been talking about the possible impact on the economy. rico hizon in singapore is following the story. what are they saying? this is the first time we are hearing from the people's bank of china talking about the state of the economy and that 110w state of the economy and that now said it could be disrupted in the first quarter due to this ongoing coronavirus outbreak. the vice governor

said they are watching the economic impact in a preparing additional policy reserves to offset the pressure. before this statement, several investment banks have already been forecasting growth could slow sharply by two percentage points or more from 6%. 0n the other hand, it could rebound sharply, much like the pattern during the size academic of 2003. but we have had widespread travel and public health restrictions taking a toll on tourism, restaurants and other parts of the sector while many theories have suspended operations until next week. to try to offset this, we have the central bank pumping large amounts of cash and the financial system. some key money market interest rates. we'll have to wait and see if this will have an impact on the chinese economy in the near term.

let's brief you on some of the other main business use. the new york times says proper jumped 24% taking earnings per year to the chief executive who isa year to the chief executive who is a former bbc director—general, mark thompson, says the times will be increasing the cost of digital subscription from 15 to $17 a month. it added 342,000 new subscribers in the last quarter of last year. shares of pi nte rest quarter of last year. shares of pinterest surged after the on line bulletin board beat earnings estimates. it jumped 46% in the last three months. the number of monthly users jumped to 335 million. it overtook snapchat. shares in

ebay fell 7% after the owner of the new york stock exchange says it is no longer exploring a deal option. nyse approached ebay after it said it was content considering a takeover of the on line market place. newsbriefing is next, don't go away. doctors and sexual health experts are urging the health secretary to investigate what they are calling on unacceptable shortage of drugs to treat the menopause. there is also also a shortage of contraceptives is to charlotte was reports. more than a million women in the uk use hormone replacement

araby to relieve symptoms of the menopause but only have based difficulty getting the specific and/or treatment they are used to because of disruption to the manufacturing and supply chain. the royal couege and supply chain. the royal college of obstetricians and gynaecologists in the british menopause society say it's still unclear why the shortages began and why they seem to be unique to the uk. they've accused the government of an extremely frustrating lack of transparency. women have been advised to consult their pharmacist over alternative treatments but the bbc has spoken to a number of women who say they can't find an effect of substitute. at the same time there has always excited also been reported shortages of certain comped respect lives, including pills and self—administered injections. the faculty of sexual and reproductive healthcare has warned increasing the difficulty of accessing birth—control could lead to a rise in unplanned pregnancies and abortions. women don't

shout out loud, they just suffer in silence and its is more important that people like ourselves in organisations like ourselves in organisations like ourselves make everyone aware of what's happening to women. department of health spokesperson said : it's thought the supply patches used for hormone replacement therapy could start to improve from this month. but without further action, many women could be waiting much longer for medication they rely on. charlotte rose, bbc news. this is the briefing with ben bland. the latest headlines. the death toll from coronavirus rises once more as the doctor who warned of its dangers dies

of the disease. the white house claims american forces have killed qassim al—rimi, leader of the extremist group al-qaeda the arabian peninsula. time to look at stories from around the world to the new york time describes a wartime lockdown in wuhan. financial times says that president trump vented fury at borisjohnson, the uk prime minister, over the phone after britain gave the chinese company huawei a role in its 5g network. quotes say they were taken aback by the force of the president's language. another politician feeling the heat, kemmerich has quit after widespread detachment widespread outrage he was helped into office with support from the far right afd

party. controversy over marking prince andrew's birthday. he is described as a disgraced duke and says the government will not fly the union flag on state loadings for the occasion this year. but as the headline points out, westminster abbey will stick to its tradition and ring it spells when he turns 60 later this month. finally an mp caused controversy here in the uk when she wore an off the shoulder dress in parliament. the website she brought it from her since sold out and she is 110w her since sold out and she is now auctioning off the item for charity. well, no off the shoulder dress is here with me. so we will come to that in a moment. i am so we will come to that in a moment. iam intrigued so we will come to that in a moment. i am intrigued to know whether you have managed to sell off anything online that you did not want and perhaps made something in the process. we will deal with that later. firstly, the serious situation covered by the new york times.

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