The $575 million investment strengthens one of the biggest overseas rivals to Uber’s food-delivery division, which the ride-hailing company considers a key business. Source: NYT > Business – MICHAEL J. de la MERCED
DealBook Briefing: How Uber Bombed
The story of Uber’s disappointing I.P.O. is a tale of mismanaged expectations with plenty of blame to go around. Source: NYT > Business –
How the Promise of a $120 Billion Uber I.P.O. Evaporated
Uber’s offering was supposed to be a crowning moment for the ride-hailing company. But it suffered setback after setback and ultimately resulted in pointed questions for all involved. Source: NYT > Business – MIKE ISAAC, MICHAEL J. de la MERCED and ANDREW ROSS SORKIN
WeWork Continues to Lose Money Ahead of Potential I.P.O.
The losses, $264 million in the first three months of the year, reflect the willingness of the company to continue its global expansion efforts. Source: NYT > Business – MICHAEL J. de la MERCED
Uber Drivers Are Contractors, Not Employees, Labor Board Says
The National Labor Relations Board’s position is a setback for drivers who had hoped to join forces to push for better pay and working conditions. Source: NYT > Business – NOAM SCHEIBER
Uber Driver Told 2 Women ‘You’re Not Going Anywhere’ in Kidnapping Attempt, Police Say
The driver, an assistant professor at a commonwealth campus of Pennsylvania State University, was charged with kidnapping and false imprisonment. Source: NYT > Business – SANDRA E. GARCIA