Business / Corporate Apr 27, 2021
Toyota to buy self-driving division of U.S. ride-hailing firm Lyft
The purchase via Toyota unit Woven Planet Holdings Inc. aims to accelerate the auto giant's development of autonomous driving technologies.
Business / Corporate Apr 15, 2021
From Harvard to Nasdaq listing: Grab CEO's ride to world's biggest SPAC deal
by Anshuman Daga and Aradhana Aravindan
The CEO of Grab, a popular app to book taxis, order food and make payments in Southeast Asia, has always been determined to win — from making his firm the best-funded regional start-up to defeating behemoth Uber Technologies. On Tuesday, Anthony Tan set another record ...
Business Mar 18, 2021
Uber's U.K. driver benefits highlight broader gig-worker challenges
by Costas Pitas and Tina Bellon
Uber has said it wants to expand limited benefits similar to those offered to drivers in the U.K. across all of Europe and the United States.
Business / Corporate Jan 13, 2021
SoftBank sells $2 billion in Uber stock as services recover
by Pavel Alpeyev and Takahiko Hyuga
Uber's food delivery business has surged during the pandemic, making up for losses suffered by its ride-hailing service.
Business / Corporate Oct 16, 2020
SoftBank’s Masayoshi Son reportedly brokering a Grab-Gojek truce
by Yoolim Lee
A key sticking point remains whether the two companies merge all operations or whether Grab acquires Gojek’s business only in Indonesia.
Business / Corporate Jul 29, 2020
Uber and Lyft drivers win unemployment insurance payments in New York
A federal judge ruled Tuesday that New York Department of Labor was taking too long to make payments, citing a backlog of claims by the ride-share drivers.
Business / Corporate Feb 20, 2020
MUFG Bank to invest ¥80 billion in ride-hailing service Grab
MUFG Bank will form a capital and business alliance with Singapore-based ride-hailing service Grab, with the view to collaborating on retail financial services, sources have said. The major Japanese bank, together with its group companies, will invest up to ¥80 billion (about $720 million) in ...
Business / Corporate Feb 5, 2020
Major taxi operator Nihon Kotsu Co. and information technology firm DeNA Co. will integrate their taxi-hailing app businesses April 1. With their integrated services, over 100,000 taxis will be available for hailing, the companies said Tuesday. The integration is intended to increase cost competitiveness, improve customer ...
Business Jan 28, 2020
Crowded Lagos to ban commercial motorbikes from most of Nigerian metropolis
Nigeria's business capital of Lagos will ban commercial motorcycles from operating in large parts of the city, the state government announced on Monday, a move that could change the commute for thousands and threaten ride-hailing startups. The Lagos state government announced on Twitter that it ...
Business / Corporate Oct 25, 2019
Uber CEO Khosrowshahi vows to deliver a profit, with help from India
by Saritha Rai
Uber Technologies Inc. Chief Executive Officer Dara Khosrowshahi is vowing to make his company profitable while pursuing growth from emerging arenas such as India, addressing investors' concerns about the ride-sharing company's mounting losses and global regulatory challenges. Uber, which lost about $5.2 billion in the ...
Business Oct 3, 2019
Southeast Asia's internet economy to grow 39% and hit $100 billion this year, report says
Southeast Asia's internet economy was forecast to grow 39 percent this year to $100 billion as millions of people in the region went online to shop for the first time and ride-hailing firms grew in popularity, an industry report showed on Thursday. The annual report ...