SoftBank sells $2 billion in Uber stock as services recover
Uber's food delivery business has surged during the pandemic, making up for losses suffered by its ride-hailing service.
SoftBank’s Masayoshi Son reportedly brokering a Grab-Gojek truce
A key sticking point remains whether the two companies merge all operations or whether Grab acquires Gojek’s business only in Indonesia.
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.
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 ...
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 ...
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 ...
Uber CEO Khosrowshahi vows to deliver a profit, with help from India
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 ...
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 ...
Japan's Rakuten swings to quarterly loss on Lyft and mobile service
Rakuten Inc. reported an unexpected quarterly loss Thursday, hit by the depressed value of its investment in ride-hailing firm Lyft Inc. and heavy spending on a new wireless service. The company said it booked a ¥1.8 billion operating loss in the April-June quarter compared with ...
Toyota to set up joint venture with Chinese ride-hailing giant Didi Chuxing, investing ¥64.8 billion
Toyota Motor Corp. said Thursday it will set up a joint venture with Chinese ride-hailing giant Didi Chuxing Technology Co. and invest a total of ¥64.8 billion ($600 million) in Didi and the new venture, as part of efforts to expand its business in ...
Toyota to cut managers' summer bonus by up to 5% due to high R&D costs
Toyota Motor Corp. will cut summer bonuses for some 9,800 managers by 4 to 5 percent, as it looks to tighten cost control in the face of high spending on developing technology for autonomous and electrified vehicles, a source close to the matter said ...
