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Uber/Lyft

Virus Lockdowns Pose Serious Threat to Lyft, Uber

There’s little doubt that the coronavirus crisis will eventually subside. But it’s not as certain that the two major ride-hailing giants will survive the pandemic in their current form—particularly if it persists for more than a couple of months.

Stock traders seem to think that Lyft, in particular, faces the biggest question about its future. Shares of the No. 2 U.S. ride-hailing firm fell 20% on Monday, taking its decline in the past three weeks to nearly 60%. Uber is down by about half in the same period. An investor could acquire Lyft for $3.8 billion, while Uber would cost $32 billion.

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Silicon Valley Bank Struggles as Startups Rush for Government Loans

As the first set of entrepreneurs learned they would receive emergency loans administered through the federal Small Business Administration, many of those who had applied through Silicon Valley Bank were stuck trying to deal with glitches in the application process.

The tech-focused bank had processed close to 5,000 applications to the SBA’s Paycheck Protection Program by Tuesday evening, ...

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