Uber's China Rival Gets a Boost, and Spotify Takes a Step Toward Public Markets
Didi Chuxing secures a $4 billion investment from SoftBank and Mubadala, bringing its valuation to $56 billion. The latest funding round comes amid reports SoftBank is looking to invest in rival Uber at a significant discount to its last $68 billion valuation.
And Spotify will reportedly get approval to list its shares directly on the New York Stock Exchange, a step towards avoiding a traditional IPO. The company could be valued as high as $20 billion.
Plus, speaking of going public, Pinterest will reportedly delay its planned IPO until 2019, as the company expects to fall short of revenue forecasts for the year. The photo-sharing app will bring in sales of $490 million this year, according to The Information. That compares to early estimates above $500 million.
A new complaint by an advocacy group is urging the Federal Trade Commission to open up an investigation into OpenAI, accusing it of violating part of an FTC Act that prohibits unfair and deceptive business practices.
Kim Billeter, EY Americas People Advisory Services Leader, joins Cheddar News to discuss why empathy is seen as a top leadership skill, and how to authentically lead with empathy.
The state of Arkansas sued TikTok and Facebook parent Meta on Tuesday, claiming the social media companies were misleading consumers about the safety of children on their platforms and protections of users' private data.
Stocks are rising again as a bit more fear evaporates from Wall Street. The S&P 500 was up 0.7% early Thursday. The benchmark index is on pace for its fifth gain in the last six days.
The Federal Deposit Insurance Corp. is set to pay almost $23 billion to stabilize the banking sector. That money comes from an insurance fund that is refilled through fees paid by banks. Now the agency is considering a special assessment on the entire industry to help make up the costs, according to a Bloomberg report.
