Tag: M and A

China’s DiDi, Ant Financial said to consider joint $2b Ofo buyout

August 3, 2018 Chinese ride-hailing giant Didi Chuxing and Alibaba’s Ant Financial are in talks with bike-sharing startup Ofo for a joint buyout offer that could value Ofo at up to $2 billion, according to a source with direct knowledge of the discussions. A deal would mark the latest stage of consolidation in China’s once-booming bike-sharing industry, where… Continue reading China’s DiDi, Ant Financial said to consider joint $2b Ofo buyout

Lyft will pay you $550 to ditch your car for a month

Lyft is raising the stakes in its mission to dominate all modes of transportation in major cities. Starting in August, the ride-hailing company will offer 100 residents of Chicago $550 each in credit to Lyft and several other mobility services if they ditch their personal vehicles for a month. It’s a bold, if slightly gimmicky,… Continue reading Lyft will pay you $550 to ditch your car for a month

Tech Mahindra Q1 Revenue up 13% YoY

Tech Mahindra Q1 Revenue up 13% YoY EBITDA up 45% and PAT up 12% YoYUSD Revenue grew 0.3% QoQ, in CC terms Mumbai, July 30, 2018: Tech Mahindra Ltd., a specialist in digital transformation, consulting and business reengineering today announced the audited consolidated financial results for its first quarter ended June 30, 2018. Financial highlights… Continue reading Tech Mahindra Q1 Revenue up 13% YoY

Mugen founder Hirotoshi Honda on why he didn’t follow in his father’s footsteps

As things turned out McGuinness couldn’t make the grid but another Mugen factory rider still managed to set a new course record at an average speed of 121.824mph, which is amazing when you consider that when they started six years ago, the bikes couldn’t crack 100mph. These things I learn while we wait. Mr Honda… Continue reading Mugen founder Hirotoshi Honda on why he didn’t follow in his father’s footsteps

Elon Musk: the volatile visionary at risk of steering Tesla off the road

Elon Musk Electric car firm has hit trouble, and Musk – who has a knack of making enemies – must explain to investors what is going on Elon Musk with his girlfriend Grimes at the Met Gala in May. On Wednesday Musk must once more explain to investors what is going on at Tesla. Photograph:… Continue reading Elon Musk: the volatile visionary at risk of steering Tesla off the road

Geely BMA modular platform – more details released

Geely has released more details of its B-segment Modular Architecture (BMA), its first modular platform designed fully in-house. The Chinese conglomerate says that BMA shares the flexibility and scalability of the larger Compact Modular Architecture (CMA), which was developed in partnership with Volvo. Developed over four years with nearly 100 modular architecture experts from over… Continue reading Geely BMA modular platform – more details released

Grab defends position in Uber deal to Singapore’s anti-monopoly watchdog

SINGAPORE (Reuters) – Grab said on Friday it disagreed with the Singaporean anti-monopoly watchdog’s assessment that its takeover of Uber’s operations had harmed competition and called the commission’s suggested measure of removing exclusivity arrangements with drivers as “one-sided”. FILE PHOTO: A ComfortDelgro taxi passes Uber and Grab offices in Singapore March 26, 2018. REUTERS/Edgar Su/File… Continue reading Grab defends position in Uber deal to Singapore’s anti-monopoly watchdog

Waymo partners with Walmart, Avis, AutoNation and others to expand access to self-driving cars

Waymo, Google’s former self-driving project that’s now an Alphabet company, announced today a new series of partnerships aimed at giving more people access to its autonomous vehicles. Through deals with Walmart, AutoNation, Avis and others, Waymo will pick up customers and drive them to businesses in the Phoenix area. The company already had existing relationships with… Continue reading Waymo partners with Walmart, Avis, AutoNation and others to expand access to self-driving cars

Fiat Chrysler boss Sergio Marchionne dies aged 66

Sergio Marchionne, the former head of Fiat Chrysler Automobiles (FCA), has died. Marchionne, 66, suffered complications from a recent shoulder surgery at a hospital in Zurich, Switzerland, and was replaced as CEO last weekend when his ill health prevented him from continuing in a leadership role. “Unfortunately, what we feared has come to pass. Sergio Marchionne,… Continue reading Fiat Chrysler boss Sergio Marchionne dies aged 66