Pinterest files confidentially for stock listing, reports WSJ

SAN FRANCISCO, Feb 22 — Pinterest, the online “visual discovery” service which claims some 250 million users, has filed confidentially for a stock market listing, The Wall Street Journal reported yesterday. The report said San Francisco-based…

Uber narrows losses, growth slows on the road to IPO

SAN FRANCISCO, Feb 16 — Uber today released earnings figures that showed its loss narrowed in the final quarter of last year while revenue growth slowed as the ridesharing giant prepares for a stock market debut. The loss for the final three…

Lyft to woo investors with fast US growth in IPO race with Uber

SAN FRANCISCO/NEW YORK: Lyft Inc will pitch investors on its fast growth in the United States as it seeks to beat out Uber Technologies Inc to become the first publicly listed ride-hailing company, according to people familiar with the matter. Lyft plans to tell investors its US market share is approaching 40 per cent, up […]

China’s Didi to restructure following passenger murders

SHANGHAI, Feb 15 — Chinese ride-hailing leader Didi Chuxing will streamline operations and make cuts to non-core business units as it doubles down on safety after the murders of two passengers clobbered its image, a source familiar with the plans…

Walmart, Google-backed Deliv end online grocery partnership

WASHINGTON, Feb 12 — Walmart Inc and logistics firm Deliv pulled the plug on a key same-day grocery delivery partnership, dealing a setback in the retailer’s race against rival Amazon.com Inc to deliver groceries to customers’ homes. The…

US airlines still see higher profits but warn of shutdown delays

NEW YORK: US airlines warned of significant travel delays if the US government shutdown goes on much longer, but signalled they still expect solid profits in 2019. Executives at American Airlines and smaller rivals Southwest Airlines and JetBlue Airways expressed frustration as the shutdown extended into its 34th day, a dynamic that has forced key […]

Singapore’s LTA proposes licensing ride-hailing firms such as Grab and GoJek

SINGAPORE, Jan 25 ― Ride-hailing firms such as Grab and GoJek will be licensed and both taxi and ride-hailing operators must allow their drivers to drive for other operators, if proposals by the Land Transport Authority (LTA) are carried through….

Singapore commuters surprised by Grab’s U-turn on fare promotions

SINGAPORE, Jan 23 — For at least two weeks in a row, some Grab users have been receiving promotional offers for rides despite the ride-hailing company saying just a month earlier that the perks would not make a comeback. Grab maintains, though,…

Coffee clash brewing in China: Startup Luckin takes on Starbucks

When Starbucks came to China two decades ago it promised to open a new store every 15 hours. Now a homegrown rival, Luckin Coffee, plans to build a high tech-driven shop every three and a half hours to dethrone the US giant. The Chinese upstart is burning through millions of dollars to lure customers with […]

French court rules against Uber in ‘employment’ contract case

PARIS, Jan 11 — Ride-hailing giant Uber has lost an appeal in France brought by a former driver who wanted his terms of employment recognised as a fully-fledged work contract. Fabien Masson, a lawyer for the plaintiff, hailed yesterday’s ruling…