WASHINGTON — The Federal Reserve approved a proposal Thursday to loosen a financial-crisis era rule that prevents banks from investing in venture capital funds. The proposal would affect the so-called “Volcker Rule," which was created after the 2008 financial meltdown. The rule bars banks from trading with government-insured deposits in an effort...
Lyft Posts Losses Despite Revenue Growth, Improves Outlook
NEW YORK — Lyft continued to bleed money in its second quarter but says it expects to stem some of those losses, raising its outlook for 2019. The ride-hailing company on Wednesday posted revenue of $867.3 million, up 72% from the same time last year. But the San Francisco-based company...