Ross played down the prospect of an agreement being reached at the G-20 meeting in Osaka on June 28-29.Paris Airshowread more
Boeing is scrambling to restore confidence in the 737 Max from regulators, customers and the flying public.Paris Airshowread more
Heavy rains caused unprecedented delays in planting this year and contributed to record floods across the central United States.Agricultureread more
Huawei CEO and founder Ren Zhengfei said that the Chinese tech company will report revenues of around $100 billion in 2019 and 2020, which would be flat growth versus 2018.Technologyread more
Bitcoin leapt across the $9,000 mark on Sunday, boosted by reports that Facebook is soon set to launch its own cryptocurrency.Cryptocurrencyread more
Although Cook did not mention companies by name, his commencement speech in Silicon Valley's backyard mentioned data breaches, privacy violations, and even made reference to...Technologyread more
In the survey, 66% of Democratic primary voters say they'd be enthusiastic or comfortable about Biden as their nominee to take on President Trump in the 2020 election. Just...Politicsread more
Organizers claimed that nearly 2 million Hong Kong protesters took to the streets Sunday in a rally to demand the city's top official resign a day after she suspended — but...China Politicsread more
African swine fever, which has already ravaged pig herds in China and pushed up food prices there, could also drive up inflation in the other emerging markets, according to...Asia Economyread more
Consumer goods giant Unilever has taken the unusual step of having some of its marketing staff read their own DNA profiles to see whether finding out about their heritage has...Marketing.Media.Moneyread more
Stocks in Asia were mixed on Monday as investors await a U.S. Federal Reserve meeting set to happen later in the week stateside.Asia Marketsread more
Uber has announced a deal for a $1 billion investment in its self-driving vehicle unit, just weeks before its initial public offering.
Toyota and Japanese auto-parts supplier Denso will together invest $667 million, while Softbank's Vision Fund will invest $333 million. SoftBank is already Uber's largest shareholder and Toyota invested $500 million last year.
The investment values the division, known as the Advanced Technologies Group (ATG), at $7.25 billion and creates a newly formed corporate entity with its own board. Representatives from the investors attended the signing ceremony at Uber's San Francisco headquarters Thursday morning alongside Uber CEO Dara Khosrowshahi and ATG leader Eric Meyhofer
Uber officially kicked off its IPO process last week with the public filing of its prospectus. The next stage is a road show at the end of April, where Uber's executives and bankers will sell the ridesharing startup's story and business model to potential public market investors.
Smaller ridesharing rival Lyft went public at the end of March and has struggled in public markets as investors question its heavy losses and path to profitability.
Uber, while far more global and diversified than Lyft, burned through about twice the amount of cash last year. It, like Lyft, is expected to price its IPO at a premium to its last private market valuation.
The new investment gives Uber fresh capital to develop technology for self-driving cars and trucks, that it will argue to investors is critical for its long term business model.
Toyota is also committing to contribute up to an additional $300 million over the next three years to help cover costs in the newly formed unit.
Correction: The deal was announced on Thursday, not closed.