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American company Uber, which created the taxi service of the same name, announced it had bought its Middle East competitor Careem for $3 billion 100 million. Under the terms of the deal, the American company will pay 1 billion 400 million dollars in cash, and the remaining 1 billion 700 million dollars will be paid in convertible notes. Careem will continue its operation as a subsidiary of Uber. The closing of the deal, which is still subject to regulatory approval, is expected in the first quarter of 2020. At the same time, antitrust regulators in countries where Uber operates may require it to change the terms of the transaction, which may cause the postponement of the planned closing dates.
On Friday, the Chinese technology company ByteDance said that it would consider listing its domestic businesses in Hong Kong or Shanghai due to rising Sino-U.S. tensions. The company's standalone listing in Hong Kong or Shanghai might value ...
On Friday, Caterpillar Inc (CAT.N) announced a lower second-quarter profit because of the recession caused by the coronavirus outbreak. The decline was due to lower sales volume and changes in dealer inventories. During the second quarter ...
Indonesia on Wednesday rolled out a 100 trillion Rupiah ($6.92 billion) loan guarantee scheme for prioritized businesses to keep them afloat as the COVID-19 situation continued to worsen around the world, the country’s finance minister ...
Britain on Wednesday signed a supply deal for up to 60 million doses of a possible COVID-19 vaccine that is being developed by pharmaceutical companies GlaxoSmithKline (GSK) and Sanofi. The financial details of the agreement were not disclosed. However, ...
Bloomberg News reported on Thursday that Elon Musk’s Space Exploration Technologies Corp. (SpaceX) is in talks to raise new funds at a valuation of $44 billion. The aerospace company said that it is in discussions with a number of investors ...
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