Singapore’s Grab says ‘laser-focused’ on profitability after bumper quarter
Singapore’s Grab Holdings Ltd on Thursday lifted the lower end of its revenue forecast for the year and said it was “laser-focused” on profitability as demand for rideshare across Southeast Asia peaks.
Uber seals taxi deal to expand its business in Italy
Uber Technologies Inc (UBER.N) has clinched a deal to integrate its ride-hailing app with Italy’s largest taxi dispatcher as it seeks to boost its presence in the eurozone’s third-largest economy, the company said on Tuesday.
Court rules California gig worker initiative is unconstitutional
A 2020 ballot measure that exempted ride-share and food delivery drivers from a state labor law is unconstitutional, a California judge ruled on Friday, as it infringes on the legislature’s power to set workplace standards.
After $4.4 bln New York IPO, founders of China’s Didi eye global growth
From working at a foot massage company to setting up China’s biggest ride-hailing firm, Will Wei Cheng has navigated several hurdles on the path to taking Didi Global Inc (DIDI.N) public in a $4.4-billion New York float.
Alfi Inc shares more than double, other ‘meme stocks’ mixed
Shares of software firm Alfi Inc (ALF.O) finished up 108.8% on Tuesday, one of the latest companies that has seen its stock surge in a broader rally that has refocused attention on so-called meme stocks in recent weeks.
Maersk VC co-leads funding round in Egyptian start-up Trella
Egyptian startup Trella, a digital platform connecting truckers with freight loads, has raised $42 million in equity and debt, including from the venture capital arm of shipping giant Maersk, its chief executive said.
Uber, Lyft want more public subsidies to meet California EV mandates
California clean-air regulators want nearly all trips on Uber and Lyft ride-hailing platforms to be in electric vehicles, mandating costly measures that the companies call unrealistic without more public subsidies for EVs.
(OFFICIAL) UK’s Arrival, Uber to develop electric ride-hailing ‘Arrival Car’
British electric van and bus maker Arrival will develop an electric car for Uber Technologies Inc (UBER.N) that will go into production in late 2023, the two companies said on Tuesday. Arrival and Uber will also explore a strategic relationship in key markets, including the United Kingdom and the European Union. The “Arrival Car” will be an […]
