Author: Press Room
DUBAI, United Arab Emirates — Uber-owned ride hailing service Careem announced on Monday a spinout with major backing from a new source, as well as from its parent company.Abu Dhabi-based tech holding company e&, formerly Etisalat, signed a binding agreement with Uber Technologies to acquire a 50.03% majority stake in the spinout — which will be known as Careem Technologies — with a $400 million investment.Careem’s ride-hailing business remains fully owned by Uber, which acquired it for $3.1 billion in 2019. Uber’s stake in the spinout is currently undisclosed.Careem Technologies will focus on the growth of the company’s “super app,”…
Fox News has settled a defamation lawsuit from a Venezuelan businessman who had accused the network of making false claims about him and the 2020 election, attorneys for the man and Fox News said Saturday in a court filing. The details of the settlement were not made public. “This matter has been resolved amicably by both sides,” a Fox News spokesperson said Sunday, declining further comment. Following the 2020 election, former Fox Business host Lou Dobbs had accused the businessman, Majed Khalil, of playing a key role in supposedly rigging the election against Donald Trump. In a tweet calling the…
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Disclaimer: The text below is an advertorial article that is not part of Cryptonews.com editorial content.The cryptocurrency market has been evolving rapidly in recent years. There are now numerous new projects emerging and established players vying for dominance. Among the countless tokens, Cardano (ADA), Polygon (MATIC), and RenQ Finance (RENQ) have emerged as the top contenders for future crypto leaders. Read on to find out why?Cardano (ADA) – The Smart Contract PlatformCardano (ADA) is a third-generation blockchain platform that aims to provide a more efficient and secure infrastructure for decentralized applications (dApps). Cardano (ADA) is the native token of the Cardano (ADA)…
Fintechs have made it easier and faster to bank, invest, and make payments. But recent reports have called into question fintech’s role in facilitating fraud via that ease. Insider spoke with eight experts, analysts, and VCs about fintech’s messy relationship with fraud. A report from a short-seller alleging fraud on Cash App, a personal finance app that’s part of Jack Dorsey’s fintech giant Block, highlights concerns some have about the wider industry.Block has vehemently denied the allegations, and some experts question the validity of the report. Still, industry insiders are concerned that the speed and accessibility these digital-native companies offer…
The brand revealed details about the Ram 1500 REV, its battery-powered pickup truck that’s going into production in 2024. It showed off the truck at the New York International Auto Show this week, where we got an early glimpse at the F-150 Lightning (and eventual Tesla Cybertruck) competitor. The longest-range Tesla travels 405 miles on a charge, while the top offering from startup Lucid Motors, the current range king, has an EPA rating of 520 miles. All the electric pickups on roads today — the F-150 Lighting, Rivian R1T, and GMC Hummer EV — offer a bit over 300 miles.…
Introduction Starwood Property Trust (NYSE:STWD) is a mortgage REIT specializing in commercial mortgage lending and commercial real estate investments. Its portfolio includes a mix of commercial properties such as multifamily, office, hotel, retail, industrial and residential properties. Since its founder, Barry Sternlicht, also established Starwood Hotels & Resorts, the company has extensive experience in the real estate industry. He took his years of experience with him when he founded Starwood Property Trust in 2009. He has grown the company strongly, the total stock return is solid at 94% in 10 years. Starwood Property Trust is a stock bought primarily by…
When Washington introduced expansive controls in October restricting chip and equipment exports to China, Beijing accused the US of “bullying” its tech sector and “violating the spirit of co-operation”. Such responses, amounting to little more than verbal bluster in response to a slow strangling of semiconductor supplies, reflected its industry’s reliance on foreign chip technology and the need to tread carefully with any retaliatory measures. But 10 days ago, Beijing finally went on the offensive, with the Cyberspace Administration of China announcing an investigation on national security grounds into Idaho-based memory chip manufacturer Micron Technology. The CAC said it would review…
A single conservative judge in Texas has provoked sudden health care and legal chaos by effectively halting the nationwide use of a popular abortion drug by the end of the week. US District Judge Matthew Kacsmaryk’s decision to suspend the Food and Drug Administration approval of the drug mifepristone, which has been used safely for more than 20 years, marked an extraordinary use of judicial power in the face of scientific data and is likely to force the Supreme Court to take up abortion again, a year after it overturned Roe v. Wade. His ruling on Friday, which he paused…
Hello! This week’s ETF wrap looks at real estate funds with exposure to commercial properties, an area of the market under pressure as investors worry lending is tightening after this month’s stress in the banking sector. Please send feedback and tips to [email protected]. You can also follow me on Twitter at @cidzelis and find me on LinkedIn. Sign up here for our weekly ETF Wrap. Exchange-traded funds with exposure to commercial real estate have slid this month, with the recent volatility in bank stocks exacerbating concerns over the property market. The Vanguard Real Estate ETF VNQ, +0.68%, Schwab U.S. REIT ETF SCHH, +0.62% and Real…
