Uber plans change in strategy, US slaps tariffs on Mexico, and more top news

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Three weeks after its disappointing public debut, Uber posted a $1 billion quarterly loss in its first report as a public company. The ride-hail giant promised investors that it would cut back on customer promotions and focus more on products. Some analysts have long bet that self-driving vehicles will one day help companies like Uber turn profits around, but new research from MIT suggests they won’t— unless dramatic algorithmic improvements make them more efficient. ? Here’s what people are saying.

The United States will impose a 5% tariff on all goods coming from Mexico starting on June 10, which will increase to 10% on July 1 and could continue to increase an additional 5% each month — capping out at 25% on Oct. 1. The measure is in response to “Mexico’s passive cooperation” in the fight against undocumented immigrants coming across the border, said President Trump. Mexican and U.S. officials are expected to meet in Washington today to further discuss the issue. ? Here’s what people are saying.

FedEx will soon deliver seven days per week in order to adjust to online shopping habits, as well as the sharp increase in small-package delivery in the U.S. The delivery giant also said it would stop relying on the U.S. Postal Service to deliver some of its packages as part of an effort to expand its last-mile delivery to homes. FedEx, the second-biggest delivery service in world after UPS, had recently shifted to a six-day-per-week schedule — similar to its rival. ? Here’s what people are saying.

Dollar Tree says it has a plan to revive its failing Family Dollar stores: sell booze. The chain announced that it would sell alcoholic drinks in about 1,000 Family Dollar stores in order to boost revenue. Dollar Tree, which bought Family Dollar in 2015, said recently that it's closing nearly 400 of the latter's stores this year after disappointing sales. The parent company also said that it would be breaking its $1 price point in some stores and that tariffs on Chinese goods could drive prices up further. ? Here’s what people are saying.

The North Face is apologizing for a clothing campaign which backfired hugely, after ad agency Leo Burnett Tailor Made uploaded doctored photos of Brazilian nature landmarks on Wikipedia with models wearing the brand’s clothes. In response, Wikipedia accused The North Face of “digital vandalism” and said, “Their actions have gone directly against the spirit, purpose, and policies of Wikipedia.” An update to The North Face’s Wikipedia page also acknowledges the scandal. ? Here’s what people are saying.

Idea of the Day: Technology doesn’t solve the world’s problems, people do, Michael Dell, CEO and Chairman of Dell Technologies, tells UT Austin’s Class of 2019.

“Technology itself is neutral…. It learns from us. So the behaviors we expect from ourselves and those around us as we leverage technology will ultimately be reflected back at us.”

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