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Uber and Waymo just settled their high-stakes battle over the future of self-driving cars.
As the first week of testimony in the explosive trial was drawing to a close, the two companies announced a settlement over the allegations that Uber had misappropriated trade secrets of Waymo, a self-driving car unit owned by Google’s parent company Alphabet. Uber will pay Waymo a package that includes 0.34% of Uber’s equity, according to a person familiar with the settlement.
That equals about $US245 million at Uber’s current private valuation of $US72 billion. Read more about the settlement.
Amazon is launching a package-delivery service to compete with FedEx and UPS – and the news sent UPS and FedEx shares tumbling. Here are the 5 times Amazon has panicked investors in other companies.
- The stock market just had a violent correction, and ‘it just doesn’t feel like we’ve hit a bottom’
- Wall Street is blaming a familiar culprit for the latest stock market bloodbath
- BAML: The Fed is doing something not seen since the 1987 market crash – and that could mean more pain for stocks
- Fed President Neel Kashkari has an ominous warning for bank regulators as market volatility surges
- A Fed official called the stock market’s plunge ‘small potatoes’ – but those comments miss the point
- JPMorgan has found a trigger for the next big market collapse
A BI tech reporter started to mine cryptocurrency and has already made a profit in 2 weeks – it’s easier than you think.
This chart shows the rapid growth of MoviePass, which has passed 2 million subscribers – here’s when its CEO says it will be profitable. Blossom Capital, a new VC firm raising up to $US100 million, has landed 2 major hires from Uber and Deliveroo.
L.L. Bean ended its famous lifetime return policy – and people are freaking out.