Uber is reportedly developing a short-term staffing business to offer 1099 independent contractors for events and corporate functions, the Financial Times first reported. Dubbed Uber Works, the service would provide waiters, security guards and other temporary staffers to business partners, a source close to Uber told TechCrunch. Uber has been working on the project for… Continue reading Uber is developing an on-demand staffing business
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Financial information for the three months ended september 30, 2018
Sur les neuf premiers mois, ventes nettes de 16,2 milliards d’€, en progrès de 3,9 % à parités constantes, portées par un effet prix mix robuste de + 2,2 %.Révision du scenario marchés 2018, précision de la guidance ROSAC et confirmation du Free Cash-Flow structurel. Ventes nettes du troisième trimestre en croissance sur des bases… Continue reading Financial information for the three months ended september 30, 2018
Riverside Motors buys Harratts Volvo dealership in Wakefield
Yorkshire-based Riverside Motor Group has acquired Harratts Volvo in Wakefield for an undisclosed sum. The new business complements Riverside’s two existing Volvo dealerships in Doncaster and Hull. Riverside has represented the brand since1982. The Hull dealership won Volvo UK’s Dealer of the Year Award 2009, 2011 and 2013 while the Doncaster business took the accolade… Continue reading Riverside Motors buys Harratts Volvo dealership in Wakefield
Careem secures first close of US$500 million investment round
Led by existing investors, including Al Tayyar Group, Kingdom Holding, Rakuten and STV.
US$200 million is the first close of the US$500 million Series F round of investment.
Funds will be used to accelerate the expansion of Careem’s internet platform across the region.
Careem, the leading internet platform for the greater Middle East, has secured US$200 million from existing investors in the first close of a new fundraise expected to exceed US$500 million. Through this funding, Careem will accelerate its mission of simplifying the lives of people in the region by expanding into mass transportation, deliveries, and payments.
Mudassir Sheikha, CEO and co-founder of Careem said: “Internet-enabled services are having a profound and positive impact on our region, where the consumer internet opportunity is huge and untapped. As a platform with 30 million users and presence in 120+ cities, Careem is uniquely positioned to tap into this opportunity by expanding into new verticals. We are del..
Mercedes-Benz expands partnership with ESL.
Recommended Kraftstoffverbrauch kombiniert CO₂-Emissionen kombiniert Stromverbrauch im kombinierten Testzyklus Product may vary after press date on 18.10.2018. 1 Die angegebenen Werte wurden nach dem vorgeschriebenen Messverfahren ermittelt. Es handelt sich um die „NEFZ-CO₂-Werte“ i. S. v. Art. 2 Nr. 1 Durchführungsverordnung (EU) 2017/1153. Die Kraftstoffverbrauchswerte wurden auf Basis dieser Werte errechnet. Der Stromverbrauch wurde auf der Grundlage der VO 692/2008/EG ermittelt.… Continue reading Mercedes-Benz expands partnership with ESL.
Uber reportedly raises $2 billion in debut junk bond sale ahead of blockbuster IPO
Anindito Mukherjee | Getty Images
Dara Khosrowshahi, chief executive officer of Uber, looks on following a 2018 event in New Delhi, India.
Uber has raised $2 billion in a junk bond sale, according to a report, as it gears up for its 2019 stock market debut.
The ride-hailing firm raised $1.5 billion through the sale of eight-year notes with a yield of 8 percent — it had initially pitched $1 billion — and an additional $500 million by selling five-year notes with a yield of 7.5 percent in a private placement led by Morgan Stanley, according to the Financial Times.
Uber was not immediately available when contacted by CNBC; nor was Morgan Stanley. The FT said Uber had confirmed the sale's completion.
The embattled start-up is preparing for an initial public offering that media reports have noted could value it at more than $100 billion — far more than its last reported valuation of $72 billion, which it notched after a $500 million capital injection from Japanese carmaker Toyota. It is currently one of the most valuable privately held firms in the world.
The fundraising follows a separate report by the FT on Wednesday that said Uber has mulled the sale of minority stakes in its struggling self-driving unit, known as the Advanced Technologies Group.
“Shared self-driving cars will ultimately make transportation safer, more efficient, and more affordable for riders on the Uber network,” the company said in an emailed statement to CNBC in response to that report.
“Our team at the Advanced Technologies Group is wholly focused on building the safest self-driving technology out there, and we remain committed to supporting their efforts to make this self-driving future a reality.”
The autonomous driving unit suffered a major setback earlier this year after a fatal crash involving one of its driverless vehicles in Tempe, Arizona. It also ended a legal battle with Google's self-driving car division Waymo in February, with a settlement that saw Waymo take a 0.34 percent stake in the company worth $245 million at the time.
Uber's Chief Executive Dara Khosrowshahi said last month the firm is on track to launch its IPO next year and has no plans to sell the Advanced Technologies Group.
You can read the full FT report here.
Gores Holdings Acquires Smart Transportation Company
Verra Mobility is a global leader in smart mobility, serving the world’s largest commercial fleets and rental car companies in managing tolling transactions and violations for more than 8.5 million vehicles and operating more than 4,000 red-light, speed, and school bus stop arm safety cameras. Photo courtesy of Verra Mobility. Gores Holdings II, Inc., a… Continue reading Gores Holdings Acquires Smart Transportation Company
Uber considers minority investors for self-driving car unit: Report
Uber Technologies Inc is considering selling minority stakes in its costly self-driving car unit as the ride-hailing company tries to address rising cost pressures ahead of its initial public offering, the Financial Times reported on Wednesday. Uber received interest from potential investors and could spin off its Advanced Technologies Group into a separate business unit… Continue reading Uber considers minority investors for self-driving car unit: Report
Vaisala acquires Leosphere, provider of ground-based & nacelle-mounted LiDAR devices
Vaisala, a global provider in environmental and industrial measurement, has announced the acquisition of Leosphere SAS, a global provider in ground-based and nacelle-mounted LiDAR equipment for the wind industry. As project developers and operators worldwide turn to remote sensing to capture wind data at today’s increasing hub-heights, the acquisition will see Leosphere’s Windcube and Wind… Continue reading Vaisala acquires Leosphere, provider of ground-based & nacelle-mounted LiDAR devices
Building a great startup requires more than genius and a great invention
Shahin Farshchi Contributor More posts by this contributor The dos and don’ts of crafting frontier-tech companies Five billion-dollar businesses for the driverless future Many entrepreneurs assume that an invention carries intrinsic value, but that assumption is a fallacy. Here, the examples of the 19th and 20th century inventors Thomas Edison and Nikola Tesla are instructive.… Continue reading Building a great startup requires more than genius and a great invention