Waze, a navigation app owned by Alphabet, plans to expand its carpooling service to several cities in the U.S. and Latin America in the coming months, the company told the Wall Street Journal. Waze began testing the service, which matches commuters with others near them going to a similar destination, in Tel Aviv and the Bay Area in 2015 and 2016 respectively.

How it works: Unlike ride-hailing services like Uber and Lyft, Waze offers true carpooling for commuters. Even its pricing structure—54 cents per mile—is designed to provide a simple compensation to the driver for gas, not a wage. Waze has also built a special app for the service, called Waze Rider. Waze eventually plans to start charging an additional fee to the rider.

Uber competition: In 2013, the same Alphabet acquired Waze for about $1 billion, the search giant also invested in Uber. Since then, the two companies have begun to compete increasingly, in areas such as self-driving cars, and now ride-sharing. Last year, Google executive David Drummond stepped down from Uber's board because of these growing conflicts of interests.

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1 hour ago - Health

SPACs are the new IPOs

Illustration: Aïda Amer/Axios

Churchill Capital Corp. III has agreed to acquire health-cost management services provider Multiplan at an initial enterprise value of $11 billion, as such deals continue to proliferate as alternatives to IPOs.

Why it matters: This is the largest special purpose acquisition company (SPAC) merger, and also includes the largest private investment in public equity (PIPE) associated with a SPAC. Existing Multiplan owners like Hellman & Friedman and General Atlantic will roll over more than 75% of their collective stake, and own over 60% of the public company.

Washington Redskins will change team name

Photo: Patrick McDermott/Getty Images

The Washington Redskins announced Monday that the NFL team plans to change its name.

Why it matters: It brings an end to decades of debate around the name — considered by many to be racist toward Native Americans. The change was jumpstarted by nationwide protests against systemic racism in the U.S. this summer.

3 hours ago - Health

Houston public health system CEO says coronavirus situation is "dire"

Houston's coronavirus situation is "dire, and it's getting worse, seems like, every day," Harris Health System CEO and President Dr. Esmail Porsa said Monday on MSNBC's "Morning Joe."

The big picture: Porsa said the region is seeing numbers related to the spread of the virus that are "disproportionately higher than anything we have experienced in the past." He noted that Lyndon B. Johnson Hospital's ICU is at 113% capacity, and 75% of its beds are coronavirus patients.