Uber sells food delivery business in India

Mumbai: Uber, in its latest move to drop money-losing businesses, agreed Tuesday to sell its food delivery business in India to Zomato, a local competitor, in exchange for 9.99% of the Indian startup. All delivery drivers for the service, known as Uber Eats, and basic information about customers, including their phone numbers and order history, […]

Netflix is not overawed by the competition

Los Angeles (Bloomberg): Netflix Inc. is facing the toughest year in its history in terms of new streaming competition, but the company says it’s ready. With technology and media giants such as Apple Inc., AT&T Inc., Comcast Corp. and Walt Disney Co. all bringing new video platforms online, Netflix is working to keep customers loyal […]

France, US agree to extend digital tax row talks

Paris: Emmanuel Macron and Donald Trump have agreed to extend negotiations on a dispute over a French tax on digital giants to the end of the year, postponing Washington’s threat of sanctions against Paris, a French diplomatic source said Monday. The source said the French and US presidents, who spoke on Sunday, had agreed to […]

Free markets made Davos. Now governments are crashing the party

In a memorable exchange at Davos last year, tech billionaire Michael Dell was explaining how higher taxes on the rich had never done much good anywhere, when he was contradicted. Actually, said Erik Brynjolfsson, a professor at the Massachusetts Institute of Technology, they’d worked pretty well within living memory in his own country, the U.S. […]