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Uber Technologies plans to double the investment in the cargo segment to stimulate growth on the eve of the initial public offering of shares, Reuters reports. To this end, the company creates a separate business named Uber Freight from the cargo subdivision, headed by Lior Ron, a former employee of Uber, one of the founders of Otto, which produced unmanned trucks. Otto was acquired by Uber in 2016. It is reported that the founders and employees of Otto will receive shares in Uber Freight as part of the reorganization of Uber. During 2019, Uber intends to double the amount of investment in the cargo subdivision created in May 2017, which will remain the key direction for investment in the run-up to the IPO scheduled for next year.
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 ...
The Securities and Exchange Commission (SEC) announced on Monday that UBS Financial Services Inc. (UBSG) would pay more than $10 Million to resolve charges regarding certain municipal bond offerings. UBS has agreed to pay the fine after SEC ...
Property data and analytics company CoreLogic Inc on Tuesday rejected another $7 billion buyout offer, seeing it inadequate after meeting with the two bidders, investment firms Cannae Holdings Inc and Senator Investment Group LP. Cannae ...
Tesla Inc.’s (TSLA) Chief Executive Officer Elon Musk announced on Thursday that Wall Street’s most controversial stock might join the S&P 500 after the company’s market value has risen from $50 billion to more than $250 ...
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