The ride-hailing company reported second quarter adjusted sales that fell short of estimates and posted a net loss of $5.24-billion, by far the largest ever for the business.
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Even by the standards of Uber Technologies, $5-billion is a lot to lose in three months of doing business. Yet, that’s the amount analysts expect to see for the second quarter.
Japanese electronics firm NEC has unveiled a flying car which hovered steadily for about a minute. The test flight of the large drone-like machine with four propellers reached as high as three metres.
Uber Technologies said it’s cutting a third of its marketing department globally, as the CEO seeks to address concerns that the business is slowing down.
South Africans have yet another electronic ride-hailing option available to them with the launch of a homegrown e-hailing app called Taxi Live Africa.
Uber Technologies’ path to profit is likely to be slowed by growing competition as a significant number of customers are willing to wait around for a cheaper ride, according to analysts at HSBC.
BMW promoted production chief Oliver Zipse to CEO, resetting its leadership to catch up with rivals in the transition to an era of self-driving, electric cars.
The Gautrain Management Agency is planning to spend up to R2-billion to acquire second-hand additional rolling stock from the UK to deal with the capacity constraints on the high-speed train network.
A virtual glimpse into the future of high-speed ground transport has been revealed by a group of engineers and designers, who have envisaged how Elon Musk’s Hyperloop could look.
The company that brought you free digital maps and e-mail wants to do the same thing for your drone.