Uber's Revenue Ride, Apple Moves, Manufacturing and Banks are on the Books
Uber's revenue ride, Apple (AAPL) - Get Report moves its manufacturing and banks are on the books. This is what you need to know before the bell.
Uber has had a rocky ride this year, losing more than 2.2 billion dollars in the first nine months of 2016, according to a Bloomberg report. However, it's on track to generate more than 5.5 billion dollars in full-year sales, which might go some way in explaining why investors value the seven-year old "gig economy" icon at nearly 70 billion dollars.
Lloyds has agreed to buy Bank of America's (BAC) - Get Report MBNA credit card business in a deal that will add 800 million dollars in annual group revenue to the British lender, while Credit Suisse has reportedly been asked by the US Justice Department to pay between $5 billion and $7 billion to settle a probe over its sale of toxic mortgage bonds in the run-up to the financial crisis.
Apple is reportedly in discussions with authorities in India over setting up a manufacturing base in the south Asian nation. The Wall Street Journal says the tech giant outlined plans and sought financial incentives in a letter sent to government officials as India moves to overtake the U.S. as the world's second-largest smartphone market.
