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.
Volkswagen U.S. CEO Pablo Di Si joined Cheddar New to discuss record quarterly electric vehicle sales and his reaction to Tesla trimming prices on some vehicles by 20% last week. “We'll continue with our pricing strategy, we're not cutting prices on the vehicle's quality over quantity and product content,” he said.
Southwest Airlines pilots could be on the verge of a strike with a vote planned in May.
Party City filed for Chapter 11 bankruptcy as it aims to cut debt.
The federal government says it will begin a targeted crackdown on nursing homes’ abuse of antipsychotic drugs and misdiagnoses of schizophrenia in patients.
Spotify became the latest tech company to call on the European Union to take action against Apple over anti-competitive practices.
Mortgage demand continues to increase as rates dip while homebuilder sentiment is also on the rise.
Amazon has begun cutting about 18,000 workers this week, affecting largely Amazon stores and some in the technology unit.
Microsoft is laying off 10,000 employees, becoming the latest tech giant to cut its workforce.
Darren Jones, President, UPS Central Plains, joins Cheddar News to discuss UPS's first-ever jobs and opportunity report while offering advice to job-seekers amid widespread layoffs and economic uncertainty.
Clare Trapasso, the executive news editor at Realtor.com, joined Cheddar News to discuss the current housing market for first-time homebuyers.
