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Business 10 May 2019 | 10:39 PM Premium

Wall St. snaps losing streak after Trump's upbeat trade comments

NEW YORK: U.S. stocks rebounded from early losses on Friday to snap a four-day losing streak after U.S. President Donald Trump and Treasury Secretary Steven Mnuchin said trade talks between the United States and China were "constructive."

Business 10 May 2019 | 12:00 AM Premium

SoftBank reports profit surge with US$3.8bil gain on Uber

TOKYO: Just hours ahead of Uber Technologies Inc’s market debut, the ride-hailing company’s biggest shareholder, Masayoshi Son’s SoftBank Group Corp, is already reaping rewards, if only on paper.

Business 09 May 2019 | 12:00 AM Premium

Grab plans to spin off financial services ops

HONG KONG: Singapore-based ride-hailing company Grab has mandated a few banks to approach potential investors to take minority stakes in its financial services business as it looks to spin off the unit, according to two people familiar with the matter.

Business 08 May 2019 | 9:01 AM Premium

Grab explores spinning off financial services business

SINGAPORE: Singapore-based ride-hailing company Grab has mandated a few banks to approach potential investors to take minority stakes in its financial services business as it looks to spin off the unit, according to two people familiar with the matter.

Business 07 May 2019 | 12:00 AM Premium

Sequoia China to cut up to 20% of investment staff

HONG KONG: Sequoia Capital China, widely viewed as a bellwether for Chinese tech investment, is set to lay off as much as 20% of investment staff as a slowdown in the country’s tech sector saps appetite for risk, said two people with knowledge of the matter.

Business 06 May 2019 | 12:00 AM Premium

I drank myself to the bottom of Luckin Coffee’s IPO

The pending Nasdaq debut of China’s Luckin Coffee Inc begs the question of whether it’s a purveyor of beverages, or a technology company.

Business 04 May 2019 | 12:00 AM Premium

Uber’s London taxi rival will cost you peanuts

UBER Technologies Inc’s initial public offering next week will be a bittersweet moment for private equity giant Carlyle Group and its London minicab firm Addison Lee Holdings Ltd.

Business 03 May 2019 | 1:41 AM Premium

Uber sued by thousands of Australian taxi drivers in class action

SYDNEY: An Australian law firm has filed a class action against Uber Technologies Inc on behalf of thousands of taxi and chartered drivers in Australia, accusing the world's largest ride-hailing company of operating illegally and causing them financial harm

Business 03 May 2019 | 12:00 AM Premium

What Uber left behind in Asia

ALL it takes is a quick trip to Jakarta to realise that Uber Technologies Inc missed out on the opportunity of a lifetime.

Business 02 May 2019 | 12:00 AM Premium

Uber IPO oversubscribed

London: Uber Technologies Inc has demand for all of the shares offered in its initial public offering (IPO) days after it began marketing the sale, sources said.