Uber: Mammoth stock offering on the way?
Uber has been told by investment banks that it could be a $120 billion company when it goes public, said Liz Hoffman in The Wall Street Journal. A successful initial public offering at that valuation would mean the ride-hailing company is worth more than General Motors, Ford, and Fiat Chrysler combined. The 9-year-old Uber, which expects to generate $10 billion to $11 billion in revenue this year, could make its market debut early next year. Uber’s co-founder and former CEO, Travis Kalanick, has already gained $1.4 billion from selling shares.
Jobs: Good news all around
U.S. job openings hit a record 7.14 million in August, “reflecting strong growth in the economy and the best labor market in decades,” said Jeffrey Bartash in MarketWatch.com. There are now 900,000 more job openings than job seekers, another record, according to data released by the Labor Department this week. The “quits rate”—the share of workers who left their job voluntarily—remained stable at a 17-year high of 2.7 percent, up from 1.9 percent in 2009. “Astonishing,” President Trump tweeted about the numbers. “It’s all working.”
Airbnb: A reprieve in the home-sharing battle
A bill that would have sharply cracked down on Airbnb rentals in Washington, D.C., appeared in doubt this week, said Robert McCartney in The Washington Post. Washington’s city council seemed poised to enact regulations that would keep most landlords and homeowners from renting out their houses on Airbnb and other “home sharing” platforms for more than 90 days a year. But lawmakers delayed that vote until Nov. 13 after a study showed that the bill would cost the city $104 million through 2022, “mostly from lost tax revenue.” Critics say that Airbnb significantly contributes to housing shortages and rising rents. Cities as varied as New York and Cincinnati have been trying to put limits on the home-sharing economy.
Security: What Apple knows about you
Apple unveiled a web portal this week where you can access and delete the data the company has collected on you, said Jefferson Graham in USA Today. The site, at privacy.apple.com, gives “one click” access to information that used to take a special request—but there may turn out to be less there than you think. “When I requested my data dump from Apple in May, it took eight days to arrive. And when it did, there wasn’t much there.” That’s because the majority of Apple’s data is kept on your own device, not on Apple’s servers.