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China's Didi Kuaidi ups stakes in taxi apps war

By Paul Carsten BEIJING (Reuters) – China’s dominant taxi-hailing firm Didi Kuaidi will spend 1 billion yuan ($161.39 million) on promotions, the company said on Friday, in an aggressive expansion that will help lure in riders and fend of rivals like U.S. firm Uber Technologies Inc. Alongside the basic cab calling function, users of the Didi Kuaidi app will have access to premium cars, carpooling, designated drivers and a service

Uber in talks with banks for $1 billion credit facility: WSJ

(Reuters) – Uber Technologies Inc is seeking a $1 billion credit line from banks, the Wall Street Journal reported, citing people familiar with the matter. The cab-hailing company is in talks with a number of large banks for the loan, asking them how much they would commit and at what terms, the Journal reported, citing the people. An initial public offering is not imminent, the Journal reported, adding that one