Uber Technologies Inc., the car-booking company, is seeking to raise as much as $1 billion in funding for its Chinese business, people familiar with the matter said. Uber China has been discussing a valuation of about $7 billion to $8 billion with potential backers, the people said, asking not to be identified because the discussions are confidential. Baidu Inc., the Beijing-based Internet firm that’s already an investor in Uber’s global
Uber Technologies Inc., the car-booking company, is seeking to raise as much as $1 billion in funding for its Chinese business, people familiar with the matter said. Uber China has been discussing a valuation of about $7 billion to $8 billion with potential backers, the people said, asking not to be identified because the discussions are confidential. Baidu Inc., the Beijing-based Internet firm that’s already an investor in Uber’s global
China’s securities regulator banned major shareholders, corporate executives and directors from selling stakes in listed companies for six months, its latest effort to stop the nation’s $3.5 trillion stock-market rout. Investors with stakes exceeding 5 percent must maintain their positions, the China Securities Regulatory Commission said in a statement. While China has already ordered government-owned institutions to maintain or boost their stock holdings, the CSRC’s directive expands the ban on
United Airlines is resuming flights after a computer fault halted all U.S. departures for about two hours, disrupting travel for thousands of passengers in the second such setback since early June. The U.S. Federal Aviation Administration disclosed the end of the grounding in a statement Wednesday after saying “automation issues” had forced a temporary suspension of U.S. takeoffs.
China announced a flurry of new moves Wednesday to halt a stock market slide. The result? Another big dive in share prices. The government told state companies and executives to buy shares, raised the …
China’s securities regulator banned major shareholders, corporate executives and directors from selling stakes in listed companies for six months, its latest effort to stop the nation’s $3.5 trillion stock-market rout. Investors with stakes exceeding 5 percent must maintain their positions, the China Securities Regulatory Commission said in a statement. While China has already ordered government-owned institutions to maintain or boost their stock holdings, the CSRC’s directive expands the ban on
Toyota’s highest ranking female executive until her arrest in Japan on suspicion of drug law violations was released from custody without charges Wednesday. Julie Hamp, 55, who resigned last week from …
Chinese e-commerce company Alibaba Group Holding Ltd is investing more than $100 million in Mei.com, a “flash sales” platform for luxury and fashion goods, according to a source with knowledge of the deal. Alibaba had said earlier on Wednesday it would form a team within its Tmall business-to-consumer platform to help Mei.com expand its user base, product offerings, logistics and IT infrastructure, but did not disclose the size of its
China announced a flurry of new moves Wednesday to halt a stock market slide. The result? Another big dive in share prices. The government told state companies and executives to buy shares, raised the …
Toyota’s highest ranking female executive until her arrest in Japan on suspicion of drug law violations was released from custody without charges Wednesday. Julie Hamp, 55, who resigned last week from …
