Climate goals at risk if only the rich countries adopt electric cars

2021-07-31 11:33:31

Europe’s plan to phase out combustion-engine vehicles has put the region at the forefront of climate protection. Yet without progress cleaning up poorer nations’ roads, it won’t be enough to keep global warming below dangerous levels.

Take Nairobi, for example. The Kenyan capital’s vehicle fleet doubles every eight years and its roughly 4.5 million inhabitants rely on minibus taxis called Matatus to get around. While they’re cheap, they tend to be older and often run on dirty diesel.

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Can Amazon challenge Zomato in food delivery business?

2021-07-23 16:40:33

It is hard to see a third player challenging in the near term, says Rahul Malhotra of Bernstein in this chat with ET Now. Edited excerpts:

Do you think that the listing of Zomato has changed the valuation bar for startups that are planning IPOs?
Zomato IPO definitely sets the path for other internet IPOs that are expected to follow suit. A strong business model is emerging and investors are trying to buy something with a long-term potential.
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Uber’s trucking unit to buy logistics planner Transplace for $2.25 billion

2021-07-22 20:44:26

Uber Technologies Inc’s trucking business is buying transportation logistics company Transplace for about $2.25 billion from private equity firm TPG Capital, in a deal that is expected to speed up the unit’s path to profitability.

The acquisition, announced by Uber on Thursday, consists of up to $750 million in the company’s common stock and the remainder in cash.

Uber Freight operates as a middle man in the fragmented long-haul trucking business, connecting truckers with shippers. Transplace works

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Microsoft Gives Rs 1 lakh Cash Bonus to Employees Amid Covid-19

The tech giant Microsoft will be gifting its employees a massive $1,500 dollar bonus according to a report by Verge. This is being done to help employees cope with the work from home lifestyle, as well as the hardships of having to deal with the pandemic. This bonus is an effort by Microsoft to keep its employees content during the pandemic and lockdown. The company wants to ensure that they feel valued and stick around longer, especially in these

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Uber’s India tech team develops storytelling feature on Eats app

2021-07-06 19:04:01

US ride-hailing leader Uber’s India technology team at Hyderabad, Eats Engineering, has led the tech development for ‘Merchant Stories’ – the first interactive feature on the app that allows merchant partners to connect directly with their eaters.

In a statement on Tuesday, Uber Eats said the ‘Merchant Stories’ feature helps eaters seamlessly discover the latest offerings from their favourite restaurants, while also assisting Uber merchants to display their delicacies.

Citing a consumer survey that

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SoftBank-backed DoorDash enters Japan

2021-06-09 11:15:31

U.S. food delivery firm DoorDash, which is backed by SoftBank Group, announced the launch of services in Japan on Wednesday, joining an increasingly crowded market that has grown during the Covid-19 pandemic.

Services will be initially limited to the city of Sendai in Miyagi prefecture, the money losing delivery firm told reporters, in a step that follows its expansion to Canada and Australia.

“Our strategy has always been to empower local economies, especially in the suburban markets

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Uber agrees world-first union deal for UK drivers

US ride-hailing giant Uber announced Wednesday a “historic” pact with a British trade union to represent its 70,000 drivers in the UK, after a court ruling granted them workers’ rights.

The GMB union said the collective bargaining agreement “shows gig economy companies don’t have to be a wild west on the untamed frontier of employment rights”.

“When tech private hire companies and unions work together like this, everyone benefits — bringing dignified, secure employment back to the world of work,”

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Domino’s Pizza flies (off the shelves) on Wall Street after Ackman reveals he owns 6%

Bill Ackman has taken a stake worth almost $1 billion in Domino’s Pizza Inc., adding another big-name consumer company to his portfolio, and said his blank-check firm is nearing a separate deal to take an “iconic” brand public in the coming weeks.

Ackman’s Pershing Square Capital Management owns a little under 6% of the pizza chain’s shares, he said Wednesday at a conference. He said he bought into Domino’s when the shares dipped to roughly $330, and after selling out

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