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World

Chinese ride-hailing giant Didi pauses plan to enter UK and European markets

Chinese ride-hailing giant Didi has halted plans to launch in the UK and continental Europe. The Uber rival had been planning to roll out services in Western Europe, including major British cities. Didi is in consultation with the team working on the project on reassigning new roles or potential redundancies. The move comes as Chinese […]

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World

Chinese ride hailing company Didi Global sued in US over slump in its share price

Chinese ride hailing company Didi Global is being sued by US shareholders after a crackdown by Beijing triggered a slump in its share price. The lawsuits come a week after Didi’s New York Stock Exchange debut. The company’s US market value has fallen by more than 20% since a Chinese regulator told online stores to […]

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Business

Chinese ride-hailing giant Didi debuts on New York Stock Exchange with $68 billion valuation

Chinese ride-hailing giant Didi Global ended its first day on the New York Stock Exchange with a valuation of $68.49 billion. That is even as its shares closed just 1% higher than their $14 offering price after slipping back from earlier strong gains. It was the biggest listing in the US by a Chinese company […]