Add Toyota Motor (TM) to the list of investors in ride-hailing service Grab, the startup that is looking to knock out Uber in Southeast Asia. Grab (formerly known as GrabTaxi) is a technology company that offers a wide range of ride-hailing and logistics services through its app in Malaysia and neighbouring Southeast Asian nations such as Singapore, Indonesia, Philippines, Vietnam, and Thailand. As of
Tag: Business
Expedia Appoints New CEO, Expecting Smooth Transition
Expedia late Wednesday announced that its board of directors approved the appointment of Mark Okerstrom as its new president and chief executive. Expedia, Inc. is an American travel company that owns and operates several international global online travel brands, primarily travel fare aggregator websites and travel metasearch engines including Expedia.com, Hotels.com, Hotwire.com, trivago, Venere.com, Travelocity, Orbitz, and HomeAway. The company operates about 200 travel booking websites in
How a Danish startup is using math to cut airport wait times in half
(Business Insider) - Danish startup Copenhagen Optimization has become the go-to for making airports run more smoothly. Like they did at Geneva Airport in Switzerland, where the average waiting time was reduced by more than 50%. "It's all about numbers," says Anders Dohn, Managing Partner and co-founder at Copenhagen Optimization. "At the core, we have a
Uber Gets Deal-Maker, Trump Agitator as CEO
Dara Khosrowshahi will take over as chief of ride-hail company Meg Whitman and Jeffrey Immelt were finalists for the job (Bloomberg) - Uber Technologies Inc. will appoint Expedia Inc.’s Dara Khosrowshahi to run the global ride-hailing Leviathan, two people familiar with the matter said. He’ll succeed co-founder Travis Kalanick, who led the
How Plan to Sell Arik at a Paltry Amount Failed
Uber Racks Up Rides, Losses Amid Setbacks
San Francisco (Fox) - Uber Technologies' scandal-plagued year apparently hasn't deterred ridership, though the ride-hailing company is still reporting heavy financial losses. The San Francisco company reported a $645 million loss for the second quarter, narrowing from $708 million in the first quarter. Revenue, not including a one-time outlay for drivers in
Volkswagen, Fiat Discussing Joint Production of Light-Utility Vehicles
HAMBURG (Reuters) - Volkswagen and Fiat Chrysler Automobiles have held discussions on joining up to produce some light-utility vehicles, a source close to the matter said on Thursday. “It’s still very vague, we have to see if this will be pursued,” the source said, without giving any details. Fiat Chrysler declined to
U.S. Port Volumes Rise as Retailers Add Inventory Ahead of Holiday Season
Ports around the country took in near-record imports in July, pointing to rise in consumer confidence. U.S. retailers and manufacturers are stocking-up their inventories with newfound confidence heading into this year’s peak shipping season when imports typically tick up ahead of the end-of-year holidays. American ports took in the equivalent of 1.72
Hyundai to launch pickup, more SUVs to reverse U.S. sales slide
DETROIT/SEOUL (Reuters) - Hyundai Motor (005380.KS) plans to launch a pickup truck in the United States as part of a broader plan to catch up with a shift away from sedans in one of the Korean automaker's most important markets, a senior company executive told Reuters. Michael J. O’Brien, vice president
Nigeri’s Arik back to 4,000 passengers per day
... Airline now fly to Ghana, Togo, Senegal Nigerian flag carrier, Arik, has disclosed that it is now back to flying around 4,000 passengers per day with its fleet of aircraft. Speaking with journalists in Lagos, Roy Ilegbodu, the managing director of Arik Air, commended the measures put in place by Asset Management