Business

Following sexual harassment allegations that led to the resignation of 500 Startups co-founder Dave McClure, it’s now emerged that the troubled VC firm has abandoned its Canada fund. According to reports in The Globe and Mail and BetaKit, the saga made it difficult to move forward with the next phase of 500 Canada, …

Uber just got itself another potential thorn in its side in Southeast Asia, where its closest rival Grab just raised $2 billion in fresh capital, after an unlikely source announced plans to enter Thailand’s ride-hailing space. Line, the Japanese company best known for its messaging app — and cutesy animal …

Didi Chuxing, the ride-sharing company that forced Uber out of China, has expanded its increasingly global empire after it made an investment in Taxify, an Uber-like service that operates in Europe and Africa as it prepares to launch in London later this year. The amount invested has not been disclosed …

What a difference a week makes. Less than seven days after Flipkart’s much-rumored acquisition of Snapdeal appeared to be nearing completion following months of speculation, the deal has officially died. All that stood between a reported $900-$950 million acquisition was the approval of Snapdeal’s board, but now talks are over and …

Foxconn CEO Terry Gou and President Trump recently announced a plan to bring 3,000 jobs to Wisconsin at what appears to be a flat screen manufacturing plant. The political press ate it up, alternatively excoriating the program for costing too much in tax breaks and crowing a win for Wisconsin’s …

Intel declared $14.8 billion in revenue this afternoon and earnings per share of 72 cents. This represents a solid beat as analysts had expected revenues of $14.41 billion and EPS of 68 cents. The company’s  stock finished up 22 cents and 0.63 percent to $34.97 per share in regular trading. …

WeWork is making a big move to win the co-working market in China after it announced the creation of a standalone WeWork China business, backed by $500 million from existing backers SoftBank, Hony Capital and other undisclosed investors. This fresh influx of capital is not tied to a recent $760 million …

PayPal has continued its strategy of expanding its presence on mobile after it revealed a tie-up with Baidu. The arrangement will allow the Chinese firm’s 100 million mobile wallet users to make payments to PayPal’s 17 million merchants through the Baidu service. The news is the latest in a series …

The long running saga over the future of Indian e-commerce firm Snapdeal may be close to a conclusion at last. The company has been repeatedly link with an acquisition by rival Flipkart, and now a deal worth a touch under $1 billion has been agreed to in principle. That’s according …

A new week brings a fresh Google initiative targeting AI startups. We started the month with the announcement of Gradient Ventures, Google’s on-balance sheet AI investment vehicle. Two days later we watched the finalists of Google Cloud’s machine learning competition pitch to a panel of top AI investors. And today, …