Lyft loses ground on Uber as cost cutting bid fails catch now profitable rival

Lyft shares slip in the US after its aggressive cost-cutting strategy in a bid to steal market share from rival Uber failed to chime with investors. Shares in the US-listed platform closed around 10 per cent lower, after it noted a drop in total revenue per active user of 5 per cent to $47.51 (£37.21) [...]