Uber may soon accept crypto

Uber Technologies will one day join the likes of Microsoft by accepting bitcoin as a payment option on its app.

Dara Khosrowshahi, the chief executive officer, said Uber will accept cryptocurrencies “at some point” in the future. “This isn’t the right point,” he said Friday in an interview on Bloomberg Television.

Khosrowshahi cited the cost of exchanges, which can carry high transaction fees, and the environmental impact of digital mining on the energy grid as reasons for why Uber has not yet incorporated the technology.

“We’re having conversations all the time,” Khosrowshahi said. “As the exchange mechanism becomes less expensive and becomes more environmentally friendly, I think you will see us leaning into crypto a little bit more.”

Goodyear goes flat with inflation fearGoodyear Tire & Rubber Co. tumbled the most since the beginning of the COVID-19 pandemic after the company said inflationary pressures are likely to continue this year, tarnishing a quarter in which results outpaced expectations.

The tiremaker is grappling with several challenges, including rising costs, staffing difficulties and semiconductor shortages that are straining auto production, Goodyear executives said on an earnings call with analysts Friday.

The company has countered rising expenses through productivity gains, but inflation will be above levels that Goodyear can offset at least through the first half of the year.

“We expect cost pressures to persist over the next several quarters,” Chief Executive Officer Richard Kramer said on a call with analysts.

Goodyear shares reversed premarket gains during the call and fell as much as 24% during regular trading in New York, the biggest intraday decline since March 2020.

From wire reports