SAN FRANCISCO (Reuters) – Global ride-hailing firm Uber Technologies Inc will spend $3.1 billion to acquire Middle East rival Careem, buying dominance in a competitive region ahead of a hotly anticipated initial public offering. The Uber Hub is seen in Redondo Beach, California, U.S., March 25, 2019. REUTERS/Lucy Nicholson Uber said late Monday night… Continue reading Uber buys rival Careem in $3.1 billion deal to dominate ride-hailing in Middle East
Author: Ritters US Newsfeed
UPDATE 1-Tesla, Elon Musk win dismissal of lawsuit over Model 3 production
FILE PHOTO: A Tesla Model 3 car is displayed during a media preview at the Auto China 2018 motor show in Beijing, China April 25, 2018. REUTERS/Jason Lee/File Photo SAN FRANCISCO (Reuters) – A federal judge in San Francisco dismissed for the second time a securities fraud lawsuit brought by Tesla Inc shareholders alleging that… Continue reading UPDATE 1-Tesla, Elon Musk win dismissal of lawsuit over Model 3 production
Uber drives Middle East mapping push ahead of IPO: source
BENGALURU (Reuters) – Uber Technologies Inc is six months into a major mapping project that fills holes in its coverage of Middle Eastern cities ahead of a possible takeover of regional rival Careem Networks and this year’s hotly anticipated initial public offering, according to a source with knowledge of the project. FILE PHOTO: Uber’s logo… Continue reading Uber drives Middle East mapping push ahead of IPO: source
UPDATE 1-Scout24 expresses interest in eBay’s classifieds business
FILE PHOTO: FILE PHOTO: An eBay logo is projected onto white boxes in this illustration picture taken in Warsaw, January 21, 2014. REUTERS/Kacper Pempel/File Photo MUNICH (Reuters) – Scout24, the Germany-based autos and property marketplace, expressed an interest on Monday in acquisitions if eBay Inc sells its classifieds business following pressure from activist investors to… Continue reading UPDATE 1-Scout24 expresses interest in eBay’s classifieds business
Alibaba, Tencent, car makers set up $1.5 billion China ride-hailing venture
BEIJING (Reuters) – Alibaba, Tencent, Suning, and car makers including Chongqing Changan Automobile have set up a $1.5 billion Chinese ride-hailing venture, a move that could test the dominance of ride-sharing giant Didi Chuxing. FILE PHOTO: A man stands near the logo of Alibaba Group at the company’s newly-launched office in Kuala Lumpur, Malaysia June… Continue reading Alibaba, Tencent, car makers set up $1.5 billion China ride-hailing venture
Daimler taps Goldman to raise China BAIC shareholding – sources
HONG KONG (Reuters) – Daimler has asked Goldman Sachs to help it explore increasing its stake in Chinese carmaker BAIC Motor Corp, its main China joint venture partner, two people with knowledge of the matter said. The Daimler is seen during a press conference on the second press day of the Paris auto show, in… Continue reading Daimler taps Goldman to raise China BAIC shareholding – sources
China’s auto, internet giants set up 9.76 billion yuan fund to invest in ride-sharing industry
FILE PHOTO: A man stands near the logo of Alibaba Group at the company’s newly-launched office in Kuala Lumpur, Malaysia June 18, 2018. REUTERS/Lai Seng Sin/File Photo BEIJING (Reuters) – China’s major automobile and internet companies, including Chongqing Changan Automobile, Alibaba and Tencent, are setting up a 9.76 billion yuan ($1.46 billion) joint venture to… Continue reading China’s auto, internet giants set up 9.76 billion yuan fund to invest in ride-sharing industry
Tesla’s Musk tells employees vehicle deliveries ‘primary priority’ near end of first quarter
FILE PHOTO: Tesla CEO Elon Musk attends the Tesla Shanghai Gigafactory groundbreaking ceremony in Shanghai, China January 7, 2019. REUTERS/Aly Song/File Photo (Reuters) – Tesla Inc’s vehicle deliveries scheduled across Europe, China and North America should be a “primary priority” for all employees during the last 10 days of the first quarter, Chief Executive Officer… Continue reading Tesla’s Musk tells employees vehicle deliveries ‘primary priority’ near end of first quarter
Hyundai Mobis shareholders reject Elliott’s proposal to expand board
SEOUL, March 22 (Reuters) – Hyundai Mobis shareholders on Friday voted against Elliott Management’s proposal to expand the board to 11 directors from nine. The shareholders are set to vote on respective director nominees from the U.S. hedge fund and the management, after shareholders rejected Elliott’s dividend proposal earlier in the meeting. Reporting by Hyunjoo… Continue reading Hyundai Mobis shareholders reject Elliott’s proposal to expand board
China Geely Auto’s full-year profit jumps 18 percent, shares climb
BEIJING (Reuters) – China’s Geely Automobile Holdings posted an 18 percent jump in annual net profit, driven by higher sales of its sedans and sports utility vehicles (SUVs), but forecast flat sales growth in 2019 due to uncertainty about domestic demand. FILE PHOTO: The Geely Automobile Holdings logo is pictured at the Auto China 2016… Continue reading China Geely Auto’s full-year profit jumps 18 percent, shares climb