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NEW YORK (AP) — Uber shares sunk even further after its disappointing stock market debut as doubts lingered over the company's ability to turn a profit and trade tensions dragged down the overall market.The ride-hailing giant's stock fell 10% and hovered around Monday afternoon on Uber's first full day of trading.The mounting losses followed Uber's disappointing initial public offering. On Friday, it took a 7 million hit — the largest loss on the first day of trading by a U.S.-based company in recent history, according to Renaissance Capital.Uber's earliest investors are still making money off the IPO, but "for late-round investors, it's possible by the time they exit they will end up with a loss," said Jay Ritter, finance professor at the University of South Florida.Among the recent big investors — and perhaps losers — is PayPal, which had disclosed plans to buy 0 million in Uber stock at the IPO price of .Uber has had no trouble convincing venture capitalists to pour money into its earlier funding rounds, but with its unclear path to profitability, it's having a more difficult time with Wall Street investors."It's clearly a high-risk, high-reward scenario. You're betting on something that may happen 10 years down the road," said Matt Kennedy, senior IPO market strategist at Renaissance Capital, a manager of IPO exchange traded funds. "Public investors are looking at profits and not seeing any, and the company's growth in the last quarter was relatively strong, but I don't think it blew anyone away."Uber's main U.S. rival, Lyft, is in a similar spiral. Its stock was trading below on Friday, down 33% from its IPO price of .It's rare to see shares in a tech company hit so hard upon going public. Over the past five years, just 10% of similar companies finished their first day of trading below their IPO price, Kennedy said.Uber's revenue last year surged 42% to .3 billion, but the company admits it could be years before it turns a profit. 2000

NEW YORK CITY — Mayor Bill de Blaiso suggested that the snow day as we know it may be gone due to remote learning, as the city prepares for what could be it's biggest snow storm in years. The mayor announced that all schools, including in-person learning, would be open Wednesday. The mayor cited expectations that the storm will not begin to hit New York City until 4 p.m. School buses will also be in use. "School will be in session Wednesday," de Blasio said. "We do not expect the snow to even begin until school is complete tomorrow." On Thursday, there will be classes one way or the other. While the decision has not yet been made on in-person learning, all students will have the option of remote learning for Thursday regardless of how much snow the area gets.De Blasio suggested parents have an alternative ready for Thursday. "We're going to be assessing the storm as it arrives, we will be making a decision as we get more information." De Blasio suggested they may have the information they need to make a decision by 6 p.m. Wednesday. The city is under a winter storm watch for late Wednesday into Thursday. This article was written by Stephen M. Lepore for WPIX. 1186

Neighbors in a Florida neighborhood couldn't believe that random strangers were lining up on their street in the middle of the night for some beer. This past week, Angry Chair Brewing in Seminole Heights, Florida was been participating in Tampa Bay Beer Week and released a special barrel-aged Imperial German Chocolate Cupcake Stout for the event.For the past few days, neighbors have told Scripps station WFTS in Tampa that people began lining up in the middle of the night to guarantee they’d get their hands on a bottle.Ryan Dowdle, owner of Angry Chair, took to Facebook, posting:“We ABSOLUTELY NEED to get the bodies out of this neighborhood now.” He went on with a hashtag that said #dontparkonfern  748

NEW YORK CITY — Despite initially saying work would begin Thursday on a large "Black Lives Matter" mural on New York's Fifth Avenue, New York Mayor Bill de Blasio's office has now said the painting of the mural will be postponed until next week.The mayor said at his daily briefing Thursday that the delay was due to "logistics" and that his office will have more announcements about the project at a later date.De Blasio first announced the mural in late June, saying it would be painted on the famed avenue, right in front of Trump Tower. The location selected intentionally."Painting 'Black Lives Matter outside (President Donald Trump's) home is a message to him that, in fact, black lives do matter, that black people built New York City and they've never been compensated for all they did," de Blasio said.Dozens of cities across the country have painted similar murals on city streets, following in the footsteps of Washington, D.C.President Donald Trump slammed the planned mural Wednesday, calling it a "symbol of hate" in a series of tweets.Trump claimed the mural would be "denigrating this luxury Avenue" and "will further antagonize New York's Finest."De Blasio fired back on Twitter saying, "Black people BUILT 5th Ave and so much of this nation. Your 'luxury' came from THEIR labor, for which they. have never been justly compensated.""We are honoring them. The fact that you see it as denigrating your street is the definition of racism," de Blasio tweeted.On Tuesday night, New York City lawmakers approved an billion budget for 2021. That budget cuts the NYPD funding from the billion the department received in 2020 to about billion.This story was originally published by Anthony DiLorenzo on WPIX in New York City. 1752

NEW YORK (AP) — A new report underscores that kids can bring the new coronavirus home from day care and infect relatives. The study released Friday comes from researchers in Utah and at the Centers for Disease Control and Prevention. It focused on three outbreaks in Salt Lake City child care facilities between April and July. The study concluded 12 children caught the coronavirus at the facilities. They then spread it to at least 12 of the 46 parents or siblings that they came in contact at home. Scientists already know children can spread the virus. One infectious diseases researcher says the study “definitively indicates — in a way that previous studies have struggled to do — the potential for transmission to family members,” said William Hanage, a Harvard University infectious diseases researcher.The findings don’t mean that schools and child-care programs need to close, but it does confirm that the virus can spread within those places and then be brought home by kids. So, masks, disinfection and social distancing are needed. And people who work in such facilities have to be careful and get tested if they think they may be infected, experts said. 1175

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