Uber is facing internal staff unrest as it attempts to implement a three-day-per-week return to office (RTO) mandate and stricter sabbatical eligibility.
An all-hands meeting late last month descended into acrimony as staff flooded the online meeting chat with queries about why the mandate was being enacted. How is five years of service not a tenured employee? Especially when burnout is rampant in the org, read one message that was reviewed by CNBC.
Following the meeting, Nikki Krishnamurthy, Ubers chief people officer, issued a memo saying staff had crossed an acceptable line during the call. Its unclear if there has been any disciplinary action to date.
But the dissatisfaction displayed during the call wasnt a one-off; the general demeanor of the companys 31,100-person staff has dropped in recent months, says one Uber employee who was on the contentious call. (The staffer was granted anonymity to speak freely about the organization’s morale.)
I felt it from the performance review/promo cycle, the staffer says. I heard a lot of complaints about unfair evaluations. I’ve been a top performer since I joined, and I got a similar evaluation. So it wasn’t personal to me. But I had senior and staff friends leaving.
That general malaise and unhappiness came to a head during the heated all-hands meeting last month. The return to office was discussed on the call, and received badly by Uber staff. The messages were flowing crazily fast, the anonymous staffer told Fast Company. The general discontent was crystal clear, they added, but the scale and speed at which comments were being typed made it difficult to keep track. I even tried to download the chat logs, but they are not available to download, the employee explained.
On the call, a recording of which was obtained by CNBC, Uber CEO Dara Khosrowshahi said: We recognize some of these changes are going to be unpopular with folks. Krishnamurthy deemed some of the employees responses unprofessional and disrespectful.
Of those the staffer could see, the queries were mostly fair questions about the reason [for the RTO] and not disrespectful, as Uber’s chief people officer claimed, in their opinion. The queries centered around how RTO benefits were being cut for staff while total compensation for the executive team was being tabled at the same time.
A spokesperson for Uber said in an emailed statement: Its hardly a surprise that not everyone was thrilled about changes to remote work and sabbatical policies. But the job of leadership is to do whats in the best interest of our customers and shareholders. Being in person more frequently is better for collaboration, innovation, and company culture.
Uber instituted anchor days in 2022, with employees expected to work in the office on Tuesdays and Thursdays. Starting in June, theyll be required to be in the office Tuesdays through Thursdays.
After the COVID-19 pandemic created the norm of working from home, companies are starting to increasingly ask employees to return to the office as they adjust to a competitive artificial intelligence-fueled world and economic concerns.
Folks want some autonomy, some control over their life, says Cary Cooper, an organizational behavior professor at the University of Manchester in England. Employers that are mandating to have to return to the office all the time are just going to lose talent. Simple as that.
Cooper adds that companies that foist a return-to-office mandate on their staff are signaling their lack of faith in employees. They’re communicating: We don’t trust you, he says. We think your working from home means youre going to go out, play around, dick off, and come back and work for a couple hours. It communicates, We dont value you, and dont trust you.
In last month’s meeting, the employee says, there were also a lot of questions about transparency and asking whether Dara was following the do the right thing and one Uber values, referencing the company’s explicit commitment to act properly and prioritize the well-being of the team, respectively. The general tenor of the online meeting chat was that executive-level staffers didn’t understand the level of unhappiness, the employee says. Instead, Khosrowshahi was laser-focused on broader goals for the company.
Dara was introducing a prioritization and strategy framework we should all follow, the staffer says. During his presentation, many messages in the chat were saying that that was the wrong moment to talk about that, because we all wanted answers about the recent changes.
For its part, Uber has managed to grab strong demand despite concerns that customers are shying away from rides and food deliveries. The company said this week that it had $11.5 billion in revenue in its most recent quarter. It also predicted that bookings for its current quarter would increase more than Wall Street expected. Still, shares had fallen as much as 5% in after-hours trading on that report.
A study has confirmed what we all suspected: K is officially the worst text you can send.
It might look harmless enough, but this single letter has the power to shut down a conversation and leave the recipient spiraling. According to a study published in the Journal of Mobile Communication, K was ranked as the most negatively received response in digital conversationsworse than being left on read or even a passive-aggressive sure.
The study found that the single-letter reply often signals emotional distance, passive-aggressiveness, or outright disinterest. Despite its brevity, K carries surprising emotional weight. Adding an extra lettermaking it kksoftens the tone of the reply entirely. Variants like ok or okay, while still cold, tend to be interpreted as neutral or merely formal.
Many of our day-to-day conversations happen over text, which means there are now unspoken codes of conduct to follow. Opening up about your emotions but dont want to sound too serious? Make sure to add lol to the end of those texts to show youre just in a silly, goofy mood and not suicidal. Giving advice to a friend that you dont want to be held accountable for? Add an idk at the end of the sentence to mitigate culpability.
Non-verbal cues like tone, facial expressions, and body language can be difficult to convey via our phones, leaving the door wide open for misunderstanding and misinterpretation. Sometimes generational differences also impact how we send and interpret texts. In some cases, textual miscommunications can be relationship killers, research has found.
Some texters recognize the power of k and are willing to weaponize the letter to serve their own motives. One X user called it the digital equivalent of slamming the door while making dead eye contact. Another added: K is short for youre dead to me.
Others advocate for the convenience of the single-letter response: Ive learned that rather than replying with a wall of text explaining how you feel, you should just type K and hit send. No sense in wasting your valuable words.
Many suggested other similarly anxiety-inducing replies. Text her hes busy see how triggered she gets lol, one X user suggested. No lies told there Thumbs up is a very close second for me, another added.
A third countered: I raise you we need to talk.
SoundCloud is facing backlash after creators took to social media to complain upon discovering that the music-sharing platform uses uploaded music to train its AI systems.
According to SoundClouds terms of use, unless a separate agreement states otherwise, users explicitly agree that your Content may be used to inform, train, develop, or serve as input to artificial intelligence or machine intelligence technologies or services as part of and for providing the services.
These terms appear to have been added to SoundClouds website in February 2024. Futurism was the first to report on artists concerns.
Musical duo The Flight brought attention to the terms this week, alerting fellow creators. Ok then . . . deleted all our songs that we uploaded to SoundCloud and now closing account, the duo posted on Bluesky. Another user replied: Thanks for the heads-up. I just deleted my account.
A SoundCloud spokesperson says the company believes AI can help expand artist’s creative output, but must be used with consent, attribution, and fair compensation.
“SoundCloud has never used artist content to train AI models, nor do we develop AI tools or allow third parties to scrape or use SoundCloud content from our platform for AI training purposes,” the spokesperson said in an emailed statement. “In fact, we implemented technical safeguards, including a ‘no AI’ tag on our site to explicitly prohibit unauthorized use. The February 2024 update to our Terms of Service was intended to clarify how content may interact with AI technologies within SoundClouds own platform. Use cases include personalized recommendations, content organization, fraud detection, and improvements to content identification with the help of AI Technologies.”
Tech companies have increasingly relied on public and private content to train AI systems, which require vast amounts of data to function effectively.
To reflect this, companies have been revising their terms and conditions to include clauses about artificial intelligence and generative AI. In November, X updated its terms of service to allow training of its machine learning and AI models on user content.
The Federal Trade Commission warned in February 2024 that companies risk violating the law if they quietly alter their privacy policies to use customer data for AI training without proper notice.
“It may be unfair or deceptive for a company to adopt more permissive data practicesfor example, to start sharing consumers data with third parties or using that data for AI trainingand to only inform consumers of this change through a surreptitious, retroactive amendment to its terms of service or privacy policy,” the agency said in a post.
Critics of such AI policy changes are urging companies to implement more transparent opt-out options or, ideally, require users to opt in.
Like many other tech firms, SoundCloud has been embracing AI. In November, it launched six new AI tools designed to meet a wide range of creative needs. At that time, SoundCloud also announced it had joined AI For Musics Principles for Music Creation With AI” pledge, committing to uphold ethical and transparent AI practices that respect creators rights.
SoundCloud is paving the way for a future where AI unlocks creative potential and makes music creation accessible to millions, while upholding responsible and ethical practices,” CEO Eliah Seton said in a November blog post. “Were proud to be the platform that supports creators at every level, fuels experimentation, and empowers fandom.”
Update: This article has been updated to include comment from SoundCloud.
Switzerland’s president lamented disappointing talks Friday with U.S. President Donald Trump’s treasury secretary that did not ease stiff U.S. tariffs on Swiss goods, but she expressed hope for a solution to a more consequential U.S.-China face-off on tariffs in Geneva this weekend.
Swiss President Karin Keller-Sutter, who also serves as finance minister, said she was nonetheless encouraged by the talks with U.S. Treasury Secretary Scott Bessent as Switzerland tries to wriggle out of hefty 31% U.S. tariffs on Swiss goods as part of Trump’s sweeping reciprocal tariffs on countries around the globe.
Their meeting was only an appetizer for the potentially market-moving talks Saturday and Sunday between Bessent and Chinese Vice Premier He Lifeng in Geneva. Keller-Sutter also met with the Chinese envoy, but said it was merely a courtesy.
As for the U.S.-China talks, the Swiss leader alluded to the election of the first U.S.-born pontiff, Pope Leo XIV, and quipped: “I said to Secretary Bessent that apparently the Holy Spirit was in Rome yesterday, and I hope that he will come to Geneva over the weekend.
The talks have been shrouded in secrecy and the Chinese and U.S. sides have declined to specify where they will take place other than somewhere in Geneva, which hosted U.S. President Joe Biden and Russian President Vladimir Putin in 2021before Russias full-scale invasion of Ukraine.
While the U.S. administration has temporarily suspended the most severe tariffs against every target country except China, the 31% rateif restoredwould put Switzerland in a worse position than its neighbors in the European Union, which are to face 20% U.S. tariffs on EU goods.
The Swiss government said its talks Friday with Bessent and U.S. Trade Representative Jamieson Greer were convivial and constructive and were aimed to lay out the guidelines for a deal on the issue of customs duties to be discussed again in coming weeks.
On April 9a week after Trump announced the U.S. reciprocal tariffshe spoke with Keller-Sutter by phone and later announced a pause in their implementation for 90 days and capped the additional U.S. tariffs at 10% for most countries, with the notable exception of China.
Of course, it is disappointing,” Keller-Sutter said when asked about the lack of a deal in talks with Bessent, before alluding to her earlier phone conversation with Trump. I also told President Trump that this was not fair. But on the other hand, you know, I mean, were not looking back, we are looking forward.
“And were really encouraged by the talks we had that were going to find a solution, and the U.S. side really engaged with Switzerland also to find a swift solution, she told reporters.
Keller-Sutter trumpeted Swiss investment in the United States, saying it has created 400,000 jobs and average salary $130,000, which is a lot in the United States. She said she didn’t know whether her call with Trump on April 9 convinced him to ease back on the tariffs, before adding with a laugh: He should listen to women.
Going into the weekend talks between Bessent and He, the U.S. slapped 145% tariffs on Chinese goods, and Beijing has responded with 125% tariffs on U.S. goods. Earlier Friday, Trump floated the prospect that those could be lowered sharply in a social media post.
80% Tariff on China seems right!” Trump wrote on his social media account, before alluding to Bessent. “Up to Scott B.
Jamey Keaten, Associated Press
After musing publicly and privately with the idea of raising the top tax rate for wealthy millionaires as Republicans draft his big bill in Congress, President Donald Trump early Friday backed off that callsort of.
Trump posted on social media that hiking taxes on anyone, even the rich, could stir a political backlash, reviving the Read my lips: No new taxes warnings of the Bush-era that helped topple a president. The post came days after he floated the idea of higher taxes on those single filers earning $2.5 million and above.
But this time, the president, didnt completely discourage GOP lawmakers from pursuing that option as they rush to finish their massive tax breaks and spending cuts package this weekend.
The problem with even a TINY tax increase for the RICH, which I and all others would graciously accept in order to help the lower and middle income workers, is that the Radical Left Democrat Lunatics would go around screaming, Read my lips, Trump wrote.
In any event, Republicans should probably not do it, but Im OK if they do!!! Trump wrote Friday.
The last ditch-push by the president comes as Republicans are laboring to push his big, beautiful bill toward public hearings next week, on track for a House vote by Memorial Day. Divisions run strong in the party, and the president’s on-again, off-again push for millionaires taxes complicates the outcome.
Over the past months, Trump has repeatedly brought up the idea of imposing a higher rate for millionaires and the president revived his request in private talks.
Trump told Speaker Mike Johnson again this week he wants to see a higher rate on the wealthy in the big bill coming from Congress, according to a person familiar with the conversations and granted anonymity to discuss the private talks.
The president sees higher taxes on millionaires as a way to clip the argument coming from Democrats that the GOPs big tax package only benefits his wealthy friends, including billionaire Elon Musk, the person said.
Thanks to Trumps 2017 tax cuts bill, the top rate is now a 37% bracket that expires at the end of the year. That rate is for incomes beyond about $600,000 for single filers. Trump would like to see that rate expire, reverting back to 39.6%, or 40%.
This week Trump pitched top rate on incomes of around $2.5 million for individuals and $5 million for couples.
The debate over millionaires has been raging with a robust collection of anti-tax activists led by former House Speaker Newt Gingrich, Grover Norquist at Americans for Tax Reform and others working vigorously to prevent any tax hikes.
Trump appeared Friday to have again heeded the message from Gingrich, who has warned that George H.W. Bush during the 1988 presidential campaign pledged to not to implement any new taxes as president.
Bush then faced an onslaught of criticism during his unsuccessful 1992 reelection campaign for breaking that promise. Trump posted a few weeks ago that Gingrich was correct. But on Friday the president said independent candidate Ross Perot had caused Bushs loss that year.
As the conversations swirl in public and private, they keep coming back to Trumps own politically-populist instincts, touching off the GOP divide.
Im not excited about the proposal, but I have to say, there are a number of people in both the house and the Senate who are, said Sen. Mike Crapo, the GOP chairman of the Senate Finance Committee, said earlier this week on the Hugh Hewitt show, and if the President weighs in in favor of it, then thats going to be a big factor that we have to take into consideration as well.
Lisa Mascaro and Seung Min Kim, The Associated Press
May has only just begun, but already, it has not been a good month for the tech industry in terms of layoffs. Since the month started, several prominent names in technology have announced layoffs, some involving a significant number of workers. Here are the companies involved in the latest round of tech layoffs
Panasonic Holdings
The iconic Japanese electronics giant, founded over a century ago, announced on May 9 that it would eliminate 10,000 jobs. That reduction equates to about 4% of Panasonics total workforce, reports Bloomberg.
According to Panasonic CEO Yuki Kusumi, the cuts are to better prepare the electronics maker for the next few decades. The company will reportedly trim back operations in nongrowth areas such as televisions and industrial products in order to concentrate on other areas, including artificial intelligence (AI).
On an earnings call, Kusumi addressed the cuts, saying he was truly sorry. He added: If we dont make drastic cuts to our fixed cost structure, we wont be able to chase growth again.
Of the planned cuts, 5,000 jobs are expected to be lost in Japan, while the other 5,000 jobs will be cut overseas. It is unknown how many American jobs will be lost in the cuts.
Match Group
The owner of the worlds most popular dating apps, including Tinder and Hinge, has announced it will cut 13% of its staff. As noted by Bloomberg, in 2024, Match employed about 2,500 full-time workers, which means that the company will be cutting around 325 individuals.
Match Groups new CEO, Spencer Rascoff, announced the cuts when reporting the companys Q1 2025 results yesterday, May 8. In recent years, younger generations, particularly Gen Z, have begun to sour on dating apps, a trend that Rascoff addressed in March, a month after becoming Match Groups CEO.
Too often, our apps have felt like a numbers game rather than a place to build real connections, leaving people with the false impression that we prioritize metrics over experience, he said in a letter to employees. That needs to change.
Bloomberg says the cuts will see one out of every five managers be let go at Match and quotes Rascoff as saying the aim of the cuts is to help the company focus on product velocity to drive growth.
Google
Search giant Google is also reportedly seeing tech layoffs, letting go of 200 workers in its global business unit, reports The Information. The global business unit handles partnerships and sales at the company.
A company spokesperson told Reuters that the cuts were being made as part of some changes across its teams that are designed “to drive greater collaboration and expand our ability to quickly and effectively serve our customers.”
CrowdStrike
The cybersecurity company CrowdStrike said on May 7 that it will cut about 500 jobs, equating to about 5% of its total workforce. The Austin, Texas-based company employed just over 10,000 people as of January 2025.
CrowdStrikes CEO George Kurtz said the job cuts will position the company to move faster, operate more efficiently, and continue our cybersecurity leadership, according to The Wall Street Journal.
CrowdStrike was a little-known name outside of the cybersecurity industry until last year, when a bug in its software temporarily made millions of Windows PCs worldwide unusable.
Symbotic
The warehouse automation company based in Wilmington, Massachusetts, announced that it will lay off 400 workers from the robotics unit it purchased from Walmart in January, reported The Boston Globe on May 3.
While decisions like these are always difficult, we made them following a thorough post-close review of our operations to ensure we are best positioned for the future with an effective structure to continue executing our long-term growth strategy, the company said in a statement to The Globe.
The layoffs at Symbotic will take place on June 27.
Tech isn’t the only industry facing layoffs
While not a tech company, its worth mentioning that accounting giant PricewaterhouseCoopers, better known as PwC, announced earlier this week that it was laying off about 1,500 employees in the United States.
That represents about 2% of its 75,000-strong workforce in America. The move is reportedly being made to cut costs.
Tech layoffs mount in 2025
With these latest May tech layoffs, the total number of tech industry layoffs in 2025 has now reached 52,340, according to data compiled by the tracker Layoffs.fyi. Those layoffs have occurred at 123 companies.
However, those layoff numbers are still well below the 152,922 people laid off in 2024, the 264,220 laid off in 2023, and the 165,269 laid off in 2022.
Planes at New Jersey’s Newark Liberty International Airport were briefly left flying blind overnight as the airport experienced another radar outagethe second incident in less than two weeks.
The most recent radar outage, first reported by ABC News, occurred just before 4 a.m. ET on Friday and lasted for a minute and a half.
There was a telecommunications outage that impacted communications and radar display at Philadelphia TRACON Area C, which guides aircraft in and out of Newark Liberty International Airport airspace, a Federal Aviation Administration spokesperson confirmed in a statement provided to Fast Company.
Why New York area planes are getting their orders from Philadelphia
A Terminal Radar Approach Control, or TRACON, is a facility that oversees arrivals and departures within a given airspace. Those facilities provide a critical link between traffic controllers based in airport towers who coordinate takeoffs and landings and the multistate area control centers that guide planes once they reach cruising altitudes. In the case of Newark Airport, that vital link in the chain of communication is newly operating out of Pennsylvania.
The FAA relocated part of Newark Airports air traffic control operations to Philadelphia last year in an effort to add additional controllers and to reduce delays at one of the worlds busiest and most complex airspaces. But the move to Philadelphia appears to have caused more problems than it has solved, with short but potentially catastrophic outages sowing chaos for Newarks air traffic controllers.
The most recent radar outage is not an isolated incident
Fridays radar and communications outage at Newark Airport is just the latest in a string of recent safety lapses keeping frequent fliers up at night. A Newark air traffic controller told NBC News that radio contact has gone dark at least eight or nine times at the facility in the last few months.
On April 28, Philadelphias TRACON Area C lost all contact with planes flying into Newark Airport for at least 30 seconds when communications and radar screens went offline. After the incident, a number of Newark air traffic controllers working that day took mental health leave due to the acute anxiety they experienced, worsening existing staffing shortages and snarling the airport in more than 1,000 cancellations and delays.
In January, an American Airlines passenger plane collided midair with a U.S. Army helicopter near Reagan National Airport, killing everyone on board both aircraft. The tragedy prompted an intense public outcry over air travel safety in the U.S., which is plagued by outdated technology and hiring woes.
The Department of Transportation has a planbut needs the cash
Prior to Fridays outage, the FAA said that it planned immediate steps to improve the situation at Newark, with goals to staff up air traffic control and fast-track technology and logistics updates. Prior to the Trump administration, the Biden administration offered its own incremental updates to U.S. air travel, including millions for smaller airports to modernize their air traffic control towers.
On Thursday, the FAA highlighted plans to update infrastructure including radar, software, and telecommunications systems. According to the detailed proposal by the Department of Transportation, legacy radios, some over 30 years old, rely on outdated analog technology, leading to frequent outages, high maintenance costs due to scarce parts, and incompatibility with modern digital standards like VoIP [Voice over Internet Protocol].
The three-year proposal would modernize existing technology, including an updated digital radio system that would make regular communication blackouts a thing of the past. The proposed upgrades would also add six new air traffic control centers.
The Trump administration would need Congress to fund such a massive overhaul to Americas air traffic control systems. Trump has enthusiastically steered around Congress on most issues so far, but for a huge infrastructure project, that would not be possible. Concerns over American air travel could be one area of rare bipartisan overlap during Trumps second term. The proposal is expected to cost tens of billions of dollars, though $12.5 billion has already bubbled up in a House appropriations bill.
We use radar from the 1970s, U.S. Transportation Secretary Sean Duffy said on Thursday. This technology is 50 years old that our controllers use to scan the skies and keep airplanes separated from one another.
President Donald Trump on Friday floated cutting tariffs on China from 145% to 80% ahead of a weekend meeting among top U.S. and Chinese trade officials, as he looks to deescalate the trade war between the world’s two largest economies.
Top U.S. officials are set to meet with a high-level Chinese delegation in Switzerland in the first major talks between the nations since Trump sparked a trade war with stiff tariffs on imports.
80% Tariff on China seems right! Up to Scott B, Trump wrote on his social media account on Friday morning, referring to Scott Bessent, his Treasury chief, who has been a point person on trade. The Republican president also called on China to open its markets to the U.S., writing: WOULD BE SO GOOD FOR THEM!!! CLOSED MARKETS DONT WORK ANYMORE!!!
Bessent and U.S. Trade Representative Jamieson Greer will meet Chinese Vice Premier He Lifeng in Geneva in the most-senior known conversations between the two countries in months, according to announcements this week by the Trump administration and the Chinese commerce ministry. It comes amid growing U.S. market worry over the impact of the tariffs on the prices and supply of consumer goods.
No country has been hit harder by Trumps trade war than China, the worlds biggest exporter and second-largest economy. When Trump announced his Liberation Day tariffs on April 2, China retaliated with tariffs of its own, a move that Trump viewed as demonstrating a lack of respect. The tariffs on each others goods have been mounting since then, with the U.S. tariffs against China now at 145% and China tariffs on the U.S. at 125%.
The U.S. tariff includes a 20% rate tied to Trump’s claim that Beijing has failed to stem the flow of chemicals used to manufacture fentanyl, and this portion of the tariff is unlikely to be brought up in this weekend’s talks.
While an 80% tariff level on Chinese goods would represent a significant reduction from the current 145%, it would still be an extremely high import duty that could create supply chain problems and push up prices.
And even with the reduction, the tariff rate would still be higher than the combined 74% rate on China that Trump announced at his April 2 Liberation Day event.
For China, experts say Beijing would insist that any agreement from the U.S. side would be credible and implemented.
Trump had previously said that he wouldnt lower the tariffs against China to hold substantive talks. But he showed signs of softening during an Oval Office appearance on Thursday, when he said he could lower the 145% rate charged on Chinese goods if the weekend talks go well.
Were going to see, Trump said. Right now, you cant get any higher. Its at 145, so we know its coming down.
The president’s team has acknowledged that the 145% tariff was not sustainable, as taxes at that rate were effectively an embargo on any trade between the two countries.
But it remains unclear how Trump can reconcile the contradictions in his stated goals. He wants large amounts of tariff revenues to offset his income tax cuts, but he also wants deals to increase market access for U.S. goods that would likely require lower tariffs. His aides have said he wants to isolate China, yet his tariffs on other trade partners make it difficult to create a durable alliance on trade.
Trumps social media post was another sign that the president has essentially been publicly negotiating with himself on tariffs. Hes started, paused, tweaked, and then threatened more import taxes, constantly reversing himself while balancing his promises to address inflation with his claims that tariffs can tilt the global economy in Americas favor.
Seung Min Kim and Josh Boak, Associated Press
San Francisco Bay Area residents woke up to some bad news for their Friday commute.
Bay Area Rapid Transit, or BART, the region’s main commuter rail system, which connects San Francisco’s peninsula with the East and South Bay, systematically shut down due to a “computer networking problem” affecting train control.
The agency announced it was closing all 50 stations at 4:24 a.m. on Friday morning, the East Bay Times reported.
As of this writing on Friday morning, BART said that train service had resumed, although passengers should expect “major delays.”
Technicians are on site trying to get to the bottom of the situation, but right now, that is the information that we have, BART communication officer Cheryl Stalter told KQED shortly after 6 a.m local time. We have a computer networking problem that is systemwide . . . it is affecting all operations, so we cannot put trains into service.
Chris Filippi, a spokesman for BART, said in a statement to the New York Times, that the last time this happened, it took several hours to resolve.
The incident left tens of thousands of commuters looking for new ways to get to work, with many reportedly clogging the Bay Area’s freeways, while the San Francisco Municipal Transportation Agency, which operates Muni bus and rail services, assisted remaining passengers at some BART stations, per the Times.
The San Francisco Bay Ferry also ran larger ferries from the North and East Bay, per the East Bay Times.
Some 170,000 area residents use BART on weekdays, with ridership just half of what it was before the COVID-19 pandemic, according to the American Public Transportation Association, as reported by the New York Times.
Global equity funds attracted the smallest weekly inflows in four weeks in the week through May 7, amid concerns about the impact of tariffs on the global economy and as investors awaited anticipated U.S.-China trade talks for more clues.
According to LSEG Lipper data, investors bought just $856 million worth of global equity funds during the week, when compared with their $6.13 billion worth of net purchases in the previous week.
European equity funds witnessed robust demand for a fourth successive week with investors ploughing in a net $12.81 billion into these equity funds.
Asian funds also saw a net $3.32 billion worth of inflows while in the U.S., there were outflows for a fourth consecutive week, to the tune of $16.22 billion, on a net basis.
Sectoral funds, meanwhile, saw net selling for a ninth successive week, grossing approximately $2.6 billion for the week.
The financial sector with $1.19 billion and the metals and mining sector with $478 million in net sales, led sectoral outflows.
Global bond funds, however, gained popularity during the week as these funds saw weekly inflows totalling a net $11.4 billion, the highest in nine weeks.
Dollar-denominated bond funds witnessed a revival in demand with investors allocating a net $4.33 billion to these funds, the biggest amount in eight weeks. Global short-term and high yield funds also witnessed a significant $1.91 billion and $1.29 billion worth of net purchases, respectively.
Global money market funds saw a hefty $66.3 billion worth of weekly inflows, the biggest since February 5.
At the same time, gold and precious metal commodity funds experienced their second weekly outflow in 13 weeks, to the tune of $655 million.
Data covering 29,582 emerging market funds showed, equity funds received approximately $1.48 billion while bond funds gained a net $1.56 billion, a second successive weekly inflow in each segment.
Gaurav Dogra and Patturaja Murugaboopathy, Reuters
