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Uber loses $1 billion in Q1 2019 as costs grow for drivers, food delivery

Uber Technologies reported a $1 billion loss on Thursday as the ride-hailing service spendt heavily to build up its food delivery and freight businesses, sending revenues up 20% in its first quarterly report as a public company.
Yusuf Abdi Ali

Virginia Uber driver a Somali war criminal – jury

A US jury has found that a former Uber driver living in Virginia committed acts of torture during Somalia’s civil war in the late 1980s.

Uber’s $82 billion valuation underwhelms in most anticipated IPO since Facebook

Uber priced its initial public offering on Thursday at the low end of its targeted range for a valuation of $82.4 billion, hoping its conservative approach will spare it the trading plunge suffered by rival Lyft.

Uber set to list stocks at $45 per share amidst drivers’ protests

Uber is set for its Wall Street debut Friday with a massive share offering that is a milestone for the ride-hailing industry and the so-called “sharing economy,” but which comes with simmering concerns about its business model.
SAN FRANCISCO, CALIFORNIA – APRIL 09: A pedestrian walks by the Pinterest headquarters on April 09, 2019 in San Francisco, California. Social sharing site Pinterest is preparing for its initial public offering (IPO) and is planning to offer 75 million shares with a listing price of $15 to $17 per share. Justin Sullivan/Getty Images/AFP

Pinterest prices IPO at $19 to begin trading Thursday

Pinterest on Wednesday announced it would price its initial public offering at $19 a share to begin trading on Wall Street the following day.
A Lyft bicycle is shown at the Lyft listing on the Nasdaq during an IPO event in Los Angeles, California, U.S., March 29, 2019. REUTERS-Mike Blake

Lyft pulls electric bikes in three US cities after complaints about braking

Lyft is removing several thousand electric bikes from service in its bike-share program in New York, Washington and San Francisco because of a braking problem, the ride-hailing company said on Sunday.

Uber seeks $10 billion IPO, scales back value target

Uber is seeking to raise some $10 billion in what would be the largest stock offering of the year, with details coming this week, the Wall Street Journal reported Wednesday.

Uber confirms it’s acquiring Middle East rival Careem for $3.1 billion

Uber has confirmed rumors that it’s building out its presence in the Middle East, Africa, and Asia by acquiring Dubai-based ride-hailing service Careem.
Twilio

Twilio to acquire email technology firm SendGrid in $2 billion deal

Cloud technology company Twilio said on Monday it would buy email technology firm SendGrid in an all-stock deal valued at about $2 billion, combining two firms that handle communications between apps and their users.

Uber publicizes ‘Obamacare’ for drivers amid Donald Trump cutbacks

Uber and some smaller technology companies are launching campaigns to publicize Obamacare enrollment among their contract workers after the Trump administration slashed government marketing for the health program by 90 percent.

Alphabet leads $1bn funding round for Uber rival Lyft

Google's parent company Alphabet is leading a $1bn round of new funding for ride-hailing company Lyft that will help it step up its challenge to larger rival Uber.

Ford, Lyft partner to deploy self-driving cars

Ford Motor Co said on Wednesday it will collaborate with Lyft to deploy Ford self-driving vehicles on the ride services company’s network in large numbers by 2021.

Uber rival Lyft met with London transport officials ahead of possible international expansion

Lyft, Uber’s closest U.S. rival in the taxi-hailing business, met repeatedly with officials from London’s transport regulator over the past year, a sign it may be targeting the city for international expansion.

US push for self-driving car law exposes regulatory divide

As the U.S. Congress moves quickly to pass the first federal law governing self-driving cars, some state and city officials are pushing back over fears that the measure will limit their ability to regulate vehicle safety at the local level.

Recent Stories

Labour sets agenda on generation, transmission, distribution of electricity for minister

Organised Labour in the nation’s Power Industry, has written to the new Minister of Power, Engineer Saleh Mamman, welcoming him to the sector and setting agenda on generation, transmission and distribution of electricity for him.
President Buhari at the event

President Buhari meets Northern traditional rulers in Aso Rock

President Muhammadu Buhari on Friday met behind closed door with traditional rulers from the Northern parts of the country at the Presidential Villa, Abuja.
Head of the Civil Service of the Federation, Mrs Winifred Oyo-Ita

Federal government reshuffles permanent secretaries, accounting officers

President Muhammadu Buhari on Friday reshuffled some Permanent Secretaries and accounting officers in the Federal service following the restructuring /creation of new ministries by the Federal Government.
Manager Mauricio Pochettino is unsure whether Victor Wanyama will be a Tottenham Hotspur player at the end of the European transfer window.

Tottenham coach unsure about Kenya skipper Victor Wanyama’s future

Manager Mauricio Pochettino is unsure whether Victor Wanyama will be a Tottenham Hotspur player at the end of the European transfer window.

SSANU, NASU threaten full strike over non-implementation of 2009 agreement

The Senior Staff Association of Nigeria and Non Academic Staff Union on Friday urged the Federal Government to honour their 2009 agreement to avoid a total strike.