COMPETITORS: There has long been rivalry between Uber and Lyft, which are loss-making companies. They have battled each other for passengers and drivers since their inception. Picture: BLOOMBERG/TOMOHIRO OHSUMI
COMPETITORS: There has long been rivalry between Uber and Lyft, which are loss-making companies. They have battled each other for passengers and drivers since their inception. Picture: BLOOMBERG/TOMOHIRO OHSUMI

Uber Technologies was said last week to be planning to kick off its IPO in April, putting it close on the heels of smaller rival Lyft.

Next month Uber is expected to issue its required public disclosure and launch its investor road show. Those events will set in motion the Wall Street debut of one of Silicon Valley’s most closely watched companies.

Uber has declined to comment.

Cautious tone from airline after profit decline

Lufthansa, Germany’s biggest airline, issued cautious guidance last week for revenue and profitability this year. This comes as it battles rising fuel costs and strives to erase losses at budget carrier Eurowings. Its shares dropped 5%. The airline will avoid disruption to its operations after safety regulators grounded Boeing’s 737 Max 8 aircraft after a crash last weekend. Lufthansa does not fly it.

Lufthansa reported an 11% decline in fourth-quarter operating profit.

Reuters