Aug 8, 2017

Didi Chuxing backs ride-hailing company in the Middle East

Courtesy of Careem

Chinese transportation giant Didi Chuxing has invested an undisclosed amount of funding into Careem, a Dubai-based ride-hailing company that operates in the Middle East and North Africa, as part of a new partnership. Careem recently raised $500 million in funding from Saudi billionaire Prince Alwaleed bin Talal's Kingdom Holding, Daimler, DCM Ventures, and Coatue Management, among others, valuing the company at over $1 billion.

Didi's global game: Didi has already put money into Southeast Asia's Grab, India's Ola, 99 in Latin America, Taxify in Europe and Africa, and Lyft in the U.S. The company has been aggressively investing in and forging partnerships with local players, undoubtedly as part of its ambitions to "play a global game," as president Jean Liu said last year. This strategy also pits it against Uber, which operates in most parts of the world, and in which Didi has a stake thanks to a merger last summer with the company's Chinese operations.

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Updated 1 hour ago - Politics & Policy

U.S. cities crack down on protesters

The scene near the 5th police precinct during a demonstration calling for justice for George Floyd in Minneapolis on Saturday. Photo: Kerem Yucel/AFP via Getty Images

Major U.S. cities have implemented curfews and called on National Guard to mobilize as thousands of demonstrators gather across the nation to continue protesting the death of George Floyd.

The state of play: Hundreds have already been arrested as tensions continue to rise between protesters and local governments. Protesters are setting police cars on fire as freeways remain blocked and windows are shattered, per the Washington Post. Law enforcement officials are using tear gas and rubber bullets to try to disperse crowds and send protesters home.

Updated 1 hour ago - Politics & Policy

George Floyd protests: What you need to know

Photo: David Dee Delgado/Getty Images

Clashes erupted between police and protesters in several major U.S. cities over Saturday night as demonstrations over the death of George Floyd and other police-related killings of black men spread across the country.

The big picture: Floyd's death in Minneapolis police custody is the latest reminder of the disparities between black and white communities in the U.S. and comes as African Americans grapple with higher death rates from the coronavirus and higher unemployment from trying to stem its spread.

Updated 2 hours ago - Politics & Policy

In photos: Protesters and police clash nationwide over George Floyd

A firework explodes behind a line of police officers next to the Colorado State Capitol during a protest over the death of George Floyd in Denver on May 30. Photo : Michael Ciaglo/Getty Images

Police used tear gas, rubber bullets and pepper spray as the protests sparked by the killing of George Floyd continued nationwide into early Sunday.

The big picture: Police responded over the weekend with force, in cities ranging from Salt Lake City to Atlanta to Des Moines, Houston to Detroit, Milwaukee to Washington, D.C., Denver and Louisville. Large crowds gathered in Minneapolis on Saturday for the fifth day in a row.