SaveSave story

Uber investor Fidelity backs rival Lyft

Fidelity, one of the most prominent mutual funds that's been backing well-known tech "unicorns," has participated in Lyft's $500 million extension of its newest financing round, according to an announcement by the ride-hailing company.

Awkward: Fidelity is the latest addition to a small list of investors that have backed both Uber and Lyft. Others include Troy Carter and Alphabet (via separate investment arms). But making things even more awkward is that Fidelity was among the group of investors that pushed Uber co-founder Travis Kalanick to resign in June.

Go deeper: Check out the complex web of relationships in ride-hailing and self-driving car companies.

Ina Fried 35 mins ago
SaveSave story

Craigslist pulls personal ads after passage of sex-trafficking bill

Online classified site Craigslist has pulled its entire personal ad section after Congress passed a new sex-trafficking bill that puts more liability on Web sites.

Why it matters: Smaller tech companies and advocates for sex workers had feared a chilling effect if the bill becomes law.

Khorri Atkinson 2 hours ago
SaveSave story

China slaps reciprocal tariffs on U.S. imports

China's President Xi Jinping speaks next to President Trump. Photo: Nicolas Asfouri// AFP / Getty Images

China announced plans to impose reciprocal tariffs on $3 billion of imports from the U.S., hours after President Trump ordered levies on a range of Chinese goods.

The details: China's plan includes a 25% tariff on U.S. pork imports as well as 15% tariffs on American steel pipes, fruit and wine, according to Bloomberg.