Chinese Didi to be Delisted on the New York Stock Exchange

Didi Chuxing, the Chinese Uber-like ride-hailing champion and once considered the world’s most successful start-up, said Friday that it will begin issuing shares traded in New York and prepare for an IPO in Hong Kong. The move is sure to resonate outside of China, particularly in Washington and on Wall Street. only in JuneIn Didi, …

Uber lost $2.4 billion, largely thanks to the Didi investment.

China’s crackdown on big tech companies continues to resonate around the world. On Thursday, Uber said it lost $2.4 billion in its most recent quarter, largely due to its investment in Chinese ride-hailing company Didi. Didi investment weighed heavily on what was a highly optimistic quarter for Uber as both customers and drivers increasingly return …

Uber Records Rare Profit Thanks to Share in Didi

Uber has recovered from the pandemic and the driver shortage that followed, the company said on Wednesday. The company’s second-quarter revenue rose 105 percent year-on-year to $3.9 billion, slightly higher than analysts had expected. Uber also posted a rare profit of $1.1 billion. Initial public offering of Chinese ride-hailing company DidiUber has an 11 percent …

In another blow to Didi, China stopped downloading another 25 apps.

In its latest criticism of ride-hailing giant Didi, China ordered the removal of 25 more of the company’s apps from mobile stores on Friday, deepening the regulatory vortex that has engulfed the company ever since. Go public on the New York Stock Exchange last week. The country’s internet regulator said in a statement. 22:00 announcement …