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Roslan Rahman/AFP/Getty Images

Uber has agreed to sell a majority stake in its Singapore-based car rental business to the country's largest taxi company, ComfortDelGro, for SG$295 million. The combined venture will be valued at SG$642 million (US$474 million).

Why it matters: Uber competes in Singapore (and the rest of Southeast Asia) with local rival Grab, and this latest deal is sure to stiffen their competition. Grab is backed by SoftBank, which is currently in the midst of negotiating an investment in Uber.

  • In Singapore, Grab has an estimated 10,000 licensed drivers, and the deal will give Uber exclusive access to ComfortDelGro's 15,000 drivers, according to TechCrunch.

Go deeper

Biden explains justification for Syria strike in letter to Congress

Photo: Chris Kleponis/CNP/Bloomberg via Getty Images

President Biden told congressional leadership in a letter Saturday that this week's airstrike against facilities in Syria linked to Iranian-backed militia groups was consistent with the U.S. right to self-defense.

Why it matters: Some Democrats, including Sens. Tim Kaine (D-Va.) and Chris Murphy (D-Conn.) and Rep. Ro Khanna (D-Calif.), have criticized the Biden administration for the strike and demanded a briefing.

9 hours ago - Health

FDA authorizes Johnson & Johnson's one-shot COVID-19 vaccine for emergency use

Photo: Illustration by Pavlo Gonchar/SOPA Images/LightRocket via Getty Images

The Food and Drug Administration on Saturday issued an emergency use authorization for Johnson & Johnson's one-shot coronavirus vaccine.

Why it matters: The authorization of a third coronavirus vaccine in the U.S. will help speed up the vaccine rollout across the country, especially since the J&J shot only requires one dose as opposed to Moderna and Pfizer-BioNTech's two-shot vaccines.

Updated 9 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Annelise Capossela/Axios