Funding round led by CapitalG takes valuation of ride-hailing company up to $11bn
The US ride-hailing company Lyft has secured a $1bn (£760m) investment from a Google-led consortium, a considerable war chest that will help finance its challenge to Uber in the US – and possibly overseas.
The funding round was led by CapitalG (formerly known as Google Capital), the strategic investment arm of Google’s corporate parent Alphabet, and takes the valuation of Lyft up to $11bn.
Young firms struggle to compete as deep-pocketed companies like Facebook and Amazon clone products and consolidate their power
Facebook has been breathing down the neck of the group video-chat app Houseparty for over a year. The app, developed by the San Francisco startup Life On Air, has been a hit with teenagers – an audience Facebook is desperate to woo.
After months of sniffing around its tiny competitor and even inviting the team to its headquarters last summer, Facebook launched its own group video chat tool within Messenger in December 2016. In February, it invited teens to its headquarters to quiz them, in return for $275 Amazon cards, on how and why they used video-chat apps. By July, Facebook was demonstrating a Houseparty clone, Bonfire, to employees and by early September the app launched in Denmark.
Citizens Advice calls for Ofcom to act after finding Vodafone, EE and Three charge customers for handsets after phones paid off
Three of Britain’s biggest mobile phone networks keep charging customers extra for their handsets after they have been paid off, leaving them up to £38 a month worse off, a consumer group has warned.
Citizens Advice found that Vodafone, EE and Three were overcharging customers who failed to change their contract an average of £22 a month, rising to £38 a month for buyers of premium phones including the Samsung Galaxy S8, Apple iPhone and Sony Xperia XZ Premium.
Business group urges government to launch commission to assess consequences of AI on jobs and increasing productivity
Britain’s biggest employers are calling for a commission to examine the impact of artificial intelligence on jobs.
Amid predictions of a workplace revolution threatening one in five jobs across the UK, the CBI is urging Theresa May to launch the commission from early 2018. It said companies and trade unions should be involved and the commission should help to set out ways to increase productivity and economic growth as well looking into the impact of AI.
Exclusive: A factory worker says he was harassed for being gay. A father and son say they faced daily racial epithets. Each claims that Tesla failed to stop it
Soon after he started working on the assembly line at Tesla, Jorge Ferro said he was taunted for being gay and threatened with violence. “Watch your back,” a supervisor warned after mocking his clothes for being “gay tight”, Ferro said.
The harassment didn’t stop after he reported it to a manager, and days after he made a second complaint, Ferro was punished, according to his account. An HR representative took away Ferro’s badge, claiming that he had an “injury” that prevented him from working and saying there’s “no place for handicapped people at Tesla”, he alleged.