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Photo: Smith Collection/Gado/Getty Images

Uber on Tuesday announced an agreement to buy Drizly, a Boston-based alcohol delivery startup, for $1.1 billion in cash and stock.

Why it matters: This could represent a strategic departure for Uber, in that Drizly doesn't hire delivery drivers itself. Instead, it provides the backend infrastructure for local liquor stores to provide their own delivery services.

  • Drizly co-founder and CEO Cory Rellas is expected to remain with Uber in an executive role.
  • The company experienced significant growth in 2020 due to the pandemic.

ROI: Drizly has raised $85 million in venture capital since being founded in 2012. Investors include Polaris Partners, Tiger Global and Avenir Growth Capital.

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44 mins ago - World

Palestinian Authority announces new COVID restrictions as cases surge

A nurse administers the COVID-19 vaccine to a Palestinian in the occupied West Bank city of Hebron. Photo: Hazem Bader/AFP via Getty Images

The Palestinian Authority on Saturday announced fresh coronavirus restrictions, including a partial lockdown, for the occupied West Bank as COVID-19 cases surge.

The big picture: The new measures come as Israel, which leads the world in vaccinations, faces increased pressure to ensure Palestinians in the occupied West Bank and Gaza Strip have equal access to vaccines.

Myanmar military fires UN ambassador after anti-coup speech

Photo: Peerapon Boonyakiat/SOPA Images/LightRocket via Getty Images

Myanmar's military regime on Saturday fired the country's Ambassador to the United Nations, Kyaw Moe Tun, a day after he gave a pro-democracy speech asking UN member nations to publicly condemn the Feb. 1 coup, The New York Times reports.

Details: State television said the ambassador had "betrayed the country and spoken for an unofficial organization which doesn’t represent the country and had abused the power and responsibilities of an ambassador."