Tuesday newspaper round-up: Alphabet, Uber, UK car production, Wework

Google shares slumped on Monday after the company failed to beat analyst predictions, following a year of internal turmoil, privacy concerns, and several international fines. Stock for Alphabet, Google’s parent company, was down 7% in after-hours trading after the company reported first quarter revenue of $36.34bn, lower than the $37.33bn revenue forecast by analysts. The quarter one earnings represent a 17% increase from the same time last year, in which it reported $31.15bn in revenue. – Guardian

Uber is relaunching its London app to include public transport information, allowing users to compare journeys on other services, as well as its private hire cars. The ride-hailing firm said the change, integrating publicly available Transport for London (TfL) live data, would allow its users to make the best choice of journey based on price and time. – Guardian

Chris Grayling’s predecessor has urged the Tory party to back a collection of “bold, radical reforms” to the railways to establish a credible alternative to Labour’s plans of renationalisation. Sir Patrick McLoughlin, who was Transport Secretary for four years until 2016, said a “comprehensive plan” was needed to address “systemic failures” the country’s train network. – Telegraph

The number of cars produced in the UK tumbled 14.4pc in March, amid fresh warnings that a no-deal Brexit could send output levels back to where they were in the Eighties. Figures from the Society of Motor Manufacturers and Traders (SMMT) showed that 126,195 units rolled off factory lines last month, the tenth consecutive monthly decline. – Telegraph

The giant co-working company that is the largest occupier of office space in London has announced plans for a stock market debut, becoming the latest in a wave of highly valued American start-ups to consider going public. Wework, a flexible office provider that holds more space in the capital than the likes of the BBC, Barclays and HSBC, said that it had filed paperwork for an initial public offering with the US Securities and Exchange Commission in December. – The Times

Boeing suffered a shareholder revolt yesterday over its refusal to split the dual role of chairman and chief executive after the incumbent faced aggressive questioning about the safety of the 737 Max at the company’s annual meeting. Investors controlling about a third of Boeing shares voted in favour of a proposal to force the board to appoint an independent chairman. The proposal was backed by America’s top shareholder advisory firms. – The Times