The massive market transformation this month that some on Wall Street called a "once in a decade opportunity" might have just been a one-off technical move because of taxes.Marketsread more
The Pentagon will deploy U.S. forces to the Middle East on the heels of the attack on Saudi Arabian oil facilities, United States Secretary of Defense Mark Esper announced...Defenseread more
Any loans to Iran or engagement by the international community is "appeasement," the minister claimed.World Politicsread more
CNBC did a deep dive through the most recent Wall Street research to find stocks that analysts say are underappreciated.Marketsread more
Shares of MasterCard are up 46% this year, and 1120% since 2011, getting a boost from the strong U.S. consumer.Investingread more
Trade with China is the 'big unknown' for the Federal Reserve as it decides how best to support the U.S. economy, says Council on Foreign Relations Director of International...Futures Nowread more
Lobbying experts said the visit is likely an attempt to be in lawmakers' ears as they consider legislation that would impact Facebook.Technologyread more
Yardeni Research's Edward Yardeni believes the U.S. economy is picking up steam.Trading Nationread more
Iran's audacious drone and cruise missile attack on Saudi Arabia's oil producing facilities has provided a critical test yet for the Trump administration's foreign policy. A...Politicsread more
Chinese trade negotiators suddenly canceled a visit to meet U.S. farmers after they wrapped up trade talks in Washington this week.Marketsread more
Blackstone Executive Vice Chairman Tony James says he's less optimistic now than before that the U.S.-China trade war could be resolved, but even a smaller deal could help...World Economyread more
As Uber has its hands full with scandals and a legal battle with Google's self-driving car unit, its rivals aren't sitting still.
Chinese ridesharing giant, Didi Chuxing, is raising between $5 and $6 billion in a funding round that would value the company at around $50 billion, sources tell CNBC. Softbank, Silver Lake and China Merchant Bank are involved.
The latest mega-round would make Didi one of the largest VC-backed start-ups alongside Uber, which has been valued at as much as $66 billion but is now reportedly valued around $50 billion, and Alibaba payments affiliate Ant Financial, reportedly valued around $60 billion.
Earlier this month, Uber's US rival, Lyft, raised a new $500 million round of funding, boosting its valuation to about $7.5 billion, postmoney.
Uber and Didi have a complicated relationship. Once fierce competitors in the Chinese market, Didi bought out Uber's operations in 2016 and gave Uber a 20% stake in the company, along with a $1 billion investment. Didi founder and chairman, Cheng Wei, holds a non-voting seat on Uber's board.
Still, the relationship might be better described as "frenemies" than "partners." Didi's president Jean Liu has said the company is "definitely going global" - -and that inevitably means challenging Uber in other markets (like Brazil, where it announced a "strategic investment" in ridesharing startup 99 in January).
Didi's latest mega-round would give the company more firepower to boost its presence in China and beyond.
Didi's management already had majority control of the company and sources tell CNBC that investors in the new round gave their voting rights to Didi's management.
CNBC reached out to Didi and will update when we hear back.