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Y Combinator Backed Nebia Unveils New Shower System

Nebia, a 2014 founded, San Francisco based, Y Combinator and Apple CEO Tim Cook backed startup, known for its shower system which it says uses up to 70% less water than conventional ones via a unique "water droplet technology that atomizes water", has unveiled a new version dubbed the Nebia Spa Shower 2.0, this time, promising more heat, more power and more water coverage.

Nebia has taken to Kickstarter, the same spot it debuted the first Spa Shower, raising $3.1 million from over 8,000 backers in 2015. Now on Kickstarter with the Spa Shower 2.0, Nebia has garnered more than $600,000 - 600% of its $100,000 funding goal - just a day after launch.



For summary, Nebia 2.0 keeps all features from the first version - like a sliding arm, megnetic dock and head tilt - but promises 3x faster water droplets and 2x more water coverage for users, coming in multiple colors to match various bathroom designs. Nebia says the new shower system is compatible with 95% of U.S. homes, up from 6…
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Germany Is Lengthening Electric Company Car Tax Incentives

Germany is set to lengthen tax incentives for electric company cars, the country's Finance Minister said to a newspaper on Saturday. This is likely another attempt to boost demand for clean vehicles, after a diesel emissions cheating scandal that has rocked the auto industry, a significant one in Germany, where several automakers including Volkswagen and Daimler are headquartered.

“Half of all cars sold in Germany are company cars,” German Finance Minister Olaf Scholz said to the Frankfurter Allgemeine Sonntagszeitung newspaper. “So I have decided that we will not end tax support for electric cars and plug-in hybrid company cars in 2021 but extend them maybe over the whole decade,”.


He also said that the rules for plug-in hybrids would be tensed, so that only cars able to journey on electric power further than they do currently would be eligible. Since January, persons who ride electric company cars - in Germany - which they also use for private journeys pay less tax than compare…

Apple Said To Purchase AI Voice Startup PullString

Apple has reportedly acquired PullString, an AI voice startup led by former Pixar CTO Oren Jacob, that enables developers create and publish applications for digital assistants like Amazon Alexa and Google Assistant. Axios reports the acquisition, stating of its upfront purchase price to be around $30 million, plus about $10 million in potential earn-outs for management.

Founded in 2011, PullString has raised some $45 million in funding, according to Crunchbase data. Investors in the company include IronPort co-founder and Postmates board member Scott Banister, Greylock Partners, True Ventures, CRV, First Round Capital and Khosla Ventures. According to PitchBook, it was valued at north of $160 million - post-money - from its most recent fundraise.


Voice, an industry seen as a very promising one, is dominated by Amazon and Google, with Apple lagging behind despite the release of its own smart speaker, the HomePod, which has just 6% global market share - as of Q2 2018 - according to St…

Alibaba Reportedly In Talks For Stake In China Operations Of Germany's Metro

Alibaba is said to be in talks to purchase a stake in the China operations of German mega-retailer Metro AG. That's according to Reuters, which cites three sources familiar with the matter. This news comes after Alibaba rival Tencent last year signed a partnership with French retailer Carrefour to launch smart retail stores, that allows customers pay via facial recognition at unmanned checkouts.  Tencent invested in Carrefour's China unit as part of the partnership.

NYSE listed Alibaba is looking to develop a business-focused retail strategy, Reuters reports. Teaming up with a large wholesaler like Metro could also bring a lot to the table for the company's fresh produce units - Yiguo and Hema. In 2017, Alibaba spent HK$22.4 billion ($2.87 billion) on a significant stake in China's number one hypermart operator, Sun Art Retail Group.


Metro although a large retailer, has been restructuring in recent years to focus on its main cash-and-carry business. The company sold i…

Uber Sues NYC Over Cap On Number Of Allowed Drivers

Uber is taking New York City to court over a decision to limit the number of ride-hailing drivers allowed on the streets. As reported by Bloomberg, Uber is expected to file the suit this Friday, arguing that the city doesn't possess enough evidence to prove a claim of limiting the number of ride-hailing drivers as a way of lessening congestion.

The San Francisco headquartered company is also alleging that New York Mayor Bill de Blasio is treating the business unfairly, stating that the mayor for five years running, doesn't intend to take a look at ongoing congestion studies on their merits but has instead already bind to constantly limit the number of drivers in the city.


Uber also argues that the City of New York is overriding the state's authority to place a limit on the number of professional drivers allowed on the road. It says a limitation “will have a disproportionate impact on residents outside of Manhattan who have long been underserved by yellow taxis and mass tr…

Opendoor Raising Additional $200 Million At $3.7 Billion Valuation : TechCrunch

Opendoor, a real estate startup that buys and sells residential real estate at quite faster rates than conventional methods, is raising an additional $200 million at a $3.7 billion valuation, according to TechCrunch, which cites filed papers in the state of Delaware. This comes after a $400 million investment in the company by Softbank in September. Opendoor has already raised $1 billion in total funding, according to Crunchbase data.

Opendoor was launched in 2014 by a team of entrepreneurs, including Khosla Ventures Senior Partner Keith Rabois, former Addepar VP JD Ross and former Trulia executive Eric Wu. The company currently has over 900 employees and says it expects to operate in 50 cities by 2020 end, up from a current 13.


It made its first ever acquisition in September, snapping up Y Combinator alum Open Listings - an online real estate brokerage, focused on representing buyers. Shortly after that, it announced a $400 million round from the Softbank Vision Fund, whose other re…

Mastercard, Visa Reportedly Mulling To Up Merchant Transaction Fees

Mastercard and Visa, the two largest U.S. card networks, are said to be preparing to increase certain fees it charges U.S. merchants for transaction processing. The Wall Street Journal reports this, citing people familiar with the matter. According to WSJ, some of the changes relate to interchange fees - transaction fees that a merchant pays whenever a customer makes use of a credit/debit card to make a purchase from their store - and will take effect by April.

The paper also says that fees levied on financial institutions - like banks - by  Mastercard and Visa, for card payment processing on behalf of merchants are also set for an increase. This report comes few months after Mastercard and Visa agreed to pay $6.2 billion in settlement to end a long-running price-fixing case brought against it by merchants. Merchants accused both companies of violating anti-trust laws by forcing retailers to pay swipe fees and preventing them from directing customers to other payment methods. The set…

Samsung Debuts The Galaxy Tab S5e

Samsung has debuted a new tablet - the Galaxy Tab S5e - that it dubs as "slimmer, lighter and thoughtfully designed", likely for its features such as a 10.5-inch screen and high battery capacity. The new tablet, available in colors like Black, Silver and Gold, will become available in select markets including U.S., Germany and other unspecified countries in the second quarter of this year.

Specs of the Galaxy Tab S5e include :
10.5-inch display (Super AMOLED)A 64bit Octa-Core Processor13 megapixels rear camera and 8 megapixels front cameraA 7,040 mAh, fast charging battery (up to 14.5 hours battery life)Android 9.0 OSFingerprint sensor4 speakers - AKG and Dolby Atmos.USB3.1 (Type C) port



The S5e is the first Samsung tablet to come with the new Bixby 2.0 virtual assistant, enabling direct control of compatible connected home devices from the tablet. With the addition of a separately sold keyboard and a Samsung DeX docking station, the S5e is capable of PC-like control, a good…

Samsung Expects Indian Sales Of $4 Billion For New Smartphone Range

Samsung expects sales of $4 billion in 2019 for a new range of smartphones it's launching in India in the first half of this year, Samsung India's chief marketing officer, Ranjivjit Singh, said in a recent Reuters telephone interview. According to Singh, the phones, targeted at millenials, will be priced between 10,000 rupees ($141) to 50,000 rupees ($703).

Samsung's 2018 sales - for the year ended March - in India hit 373.5 billion rupees ($5.26 billion), according to regulatory filings cited by business intelligence platform paper.vc. India is the world's second largest smartphone market, dominated by China's Xiaomi (27%), followed by Samsung (22%), then brands like Vivo, Micromax and Oppo - in the last quarter of 2018 -, according to Counterpoint Research.


The country has over a billion wireless subscribers and roughly 350 million users still in adoption of basic feature phones. This counts as a big market for Samsung to hold, after hassles in China, where it h…

GM Begins Taking Pre-Orders For New Electric Bikes

If you remember, in November, GM launched a naming contest for two electric bikes - a compact one and a folding one - it planned to begin offering to customers. The company is back with a crowd-sourced brand name - ARĪV - for the electric bikes and has begun taking pre-orders for both. The two bikes - the Meld, a compact bike, and the Merge, a folding bike - are launching first in Germany, Belgium and the Netherlands, with GM citing the popularity of lithium-ion battery-powered electric bikes in those markets as reason.

According to GM, specs of the new e-bikes include :
Approximately 3.5 hours full charging time, with up to 64 kilometers range on a single charge.Safety components like rechargeable front and rear LED safety lights for increased visibility, and over sized brake rotors to increase stopping power.Speeds of up to 25 kilometers per hour.Four levels of pedal-assisted power.Bluetooth compatibility (to provide metrics like speed, remaining battery level, motor assist level, d…

GM Cruise Is Short Of Self-Driving Miles Predictions

According to a report released on Wednesday by the California Department of Motor Vehicles (DMV), GM Cruise, General Motors' self-driving unit, clogged 450,000 self-driving miles all of last year in California where it does the bulk of its testing. This falls short of a prediction made by Cruise co-founder and then CEO Kyle Vogt 14 months ago, when GM told investors it was on the edge of putting 1 million miles on its self-driving test cars each month.

According to the report, self-driving leader Waymo clogged 1.2 million test miles in California in all of last year, a more than triple from 352,000 miles in 2017. But for consideration, Cruise was launched in 2013 compared to Waymo which clocks a decade old this year. Along with this two, other companies that test self-driving cars in the state of California include Nuro - which just raised $940 million from Softbank, TuSimple - which just raised $95 million Series D funding, Apple, Bosch, Baidu, Aurora, Ford, AutoX, Honda, Lyft, …

Kroger Unveils Mobile Payments App And New Rewards Debit Card

Kroger - the largest grocery chain in the U.S. - has announced a new mobile payments method, "Kroger Pay", a solution that is says "securely combines a customer's payment and loyalty card information to create a faster checkout experience". Kroger Pay is available or iOS and Android devices will work this way :

A customer - who has linked a card with the app - enters their custom PIN  or bio-metricsThe app provides a single-use QR code to scan at the checkout terminal to quickly link with payment and loyalty card information (including digital coupons and personalized offers) Checkout is done
The new payment method has launched in Kroger's Columbus, Ohio division, and will roll out to 10 additional markets in the spring. A nationwide launch is planned for later this year. Kroger is also launching a new rewards debit card, a payment option that connects directly to a customer's checking account, offering benefits like bonus fuel points and Our Brands dis…

Cisco Reports Better-Than-Expected Quarterly Results

Cisco just reported its second quarter results for the period ended January 26, 2019, recording non-GAAP net income of $3.3 billion - or $0.73 per share - on revenue of $12.45 billion. This beats analyst estimates of $0.72 per share net income on $12.41 billion revenue, according to Thomson Reuters' Refinitiv.

Cisco has now declared a quarterly dividend of $0.35 per common stock, a 2-cent -or 6% - increase from the previous quarter's dividend, to be paid to shareholders on the 24th of April. The company's board has also approved a $15 billion increase to its stock repurchase program, pushing the remaining authorized amount for this to approximately $24 billion.


Revenue from Cisco's largest business division, which includes routers and data center switches, came in at $7.13 billion, while Applications revenue, including AppDynamics and WebEx came in at $1.47 billion for the quarter. $658 million Security revenue was also recorded.

The company is ending this quarter wit…

Flexport Reportedly In Talks To Raise $500 Million Softbank Led Round

Flexport - a San Francisco based freight forwarding and customs brokerage startup, valued at over $1 billion from a $100 million investment by China's SF Express, made in April 2018 - is said to be raising around $500 million in a Softbank-led round, that would mark the Japanese based tech conglomerate's third consecutive investment in a week span, after autonomous delivery startup Nuro and UK fintech OakNorth.

Axios reports this, citing a source that says Flexport may be valued at around $3 billion with this round. It however states that a final investment could be smaller if both parties - Flexport and Softbank - gets concerned about CFIUS (Committee on Foreign Investment in the United States) approvals.


Flexport has already raised $300 million in funding according to Crunchbase data, from investors including Founders Fund, Bloomberg Beta, DST Global, First Round Capital, Alrai Capital and Y Combinator. Founded in 2013, the company provides global logistics services like ai…

Johnson & Johnson To Acquire Auris Health For $3.4 Billion

In sync with a previous report, Johnson & Johnson has announced it'll be purchasing surgical robotics Auris Health for $3.4 billion in cash, and additional payments of up to $2.35 billion tied to certain milestones. New Jersey headquartered Johnson & Johnson is acquiring Auris Health via its subsidiary, Ethicon, with a purchase price of $3.4 billion marking one of the largest exits in the medical technology market.

Auris will complement Johnson & Johnson's acquisition of Orthotaxy’s robotic technology for orthopaedics and the continued development of the Verb Surgical Platform, via a strategic partnership with Alphabet's Verily. Auris which develops robotics tech for medical applications, is backed by notable names like Viking Global, Coatue Management, Lux Capital, Wellington Management and Highland Capital.


The company has raised $730 million in total funding according to Crunchbase data, last valued at about $2 billion from a previous round. “We’re thrilled…

VW And Ford Reportedly Apart On Investment In Ford's Self-Driving Unit

Volkswagen and Ford, amid reports of the former mulling an investment in Ford's autonomous vehicle unit, are said to be in dis-agreement on the amount to be invested, with Ford seeking at least $500 million, after seeking an earlier $1 billion. Reuters reports this, citing people familiar with the negotiations.

Reuters says Volkswagen has resisted agreeing to invest in Ford's self-driving unit, instead preferring to announce a collaboration on this area. It says some of he hesitation comes from questions about Ford's self-driving technology. Volkswagen CEO Herbert Diess previously said that both companies have not officially decided to collaborate on self-driving cars, a field he termed as one with "still a lot of hype".


Shortly after, both companies announced an alliance on development of commercial vans and pickup trucks, a market that makes up high amount of revenue in the automobile scene. According to Reuters, another issue in the investment talks is how bo…

TuSimple Hits Unicorn Status With $95 Million Series D Round

TuSimple, a San Diego based autonomous trucking startup that operates self-driving trucks in Tucson, Arizona, has closed $95 million Series D funding led by China's Sina Corp, that values it at $1 billion pre-money. This comes on the heels of another self-driving startup, Nuro, raising $940 million from Softbank at a $2.7 billion valuation, marking two new unicorns from the self-driving space.

TuSimple - now with $178 million total funding - says it'll plough the new capital into commercial ramp-up and product development. The company will continue to grow its autonomous truck fleet - to over 50 by June - which already makes fully-autonomous deliveries in Arizona, with an expansion into Texas set soon. The new investment will fund joint production programs with OEM (original equipment manufacturer), Tier 1 (well-known vendors) and sensor partners for a goal of full commercialization.


TuSimple claims its Level 4 fully-autonomous semi-trucks are the only trucks capable of drivi…

Amazon, GM In Talks To Invest In Rivian Automotive : Reuters

According to a Reuters report, Amazon and General Motors are in talks to invest in Rivian Automotive, an EV manufacturer that debuted an all-electric 5-passenger pickup dubbed the R1T in November. The investment would value Rivian - which has already raised $200 million in debt financing according to Crunchbase data - at between $1 billion and $2 billion, Reuters says.

Such deal would be a good boost for Plymouth, Michigan based Rivian, which aspires to be the first carmaker to hit the U.S. market with an electric pickup. Tesla has also said production of the Model Y electric pickup, one that it has teased since 2015, will begin in 2020, signalling competition for Rivian in this market. The Rivian R1T all-electric pick-up is also aimed to begin selling in 2020.



Rivian also plans for an SUV built on the same platform used by the all-electric pickup, a similar approach taken by Tesla, which builds the Model S and Model X vehicles on the same modular platform. Reuters says an investment…

EA's Apex Legends Hits 25 Million Players In A Week

Electronic Arts' new battle royale game - Apex Legends - has set record with 25 million player signups in just a week of release, the company announced on Tuesday, sending its shares up 8.5% on the public markets. According to Respawn's Vince Zampellla who broke the news, Apex Legends also has "well over" 2 million concurrent players along with its 25 million total players.

Hitting such high metric in short time places Apex Legends as a super viral title, garnering 10 million players within three days and now 25 million within a week. For comparison, Fortnite, the biggest battle royale title right now took 2 weeks to hit 10 million players and 6 weeks to hit 20 million players, according to gaming industry analyst Daniel Ahmad.


EA, which is behind several popular titles like FIFANeed for Speed, Plants vs. Zombies, The Sims and Battelfield V is likely trying to reproduce the success of Fortnite - which has developed a massive following with teenagers and older game…

Walmart Pulls Plug On Delivery Partnership With Deliv

After ending grocery delivery partnerships with Uber and Lyft, Walmart has pulled the plug on a partnership with another partner, Deliv, according to a Reuters report that says Deliv, one of Walmart's earliest partners in last-mile deliveries, has served the retailer a 90-day termination notice. The piece also reports that both companies stopped working with each other as of late January.

Walmart has confirmed an end to its partnership with Deliv, but says it still works with seven delivery partners, including Point Pickup, Skipcart, AxleHire, DoorDash and Postmates, majority of which it signed up in January. Reuters, citing people familiar with the Walmart partnership with Deliv, reports that Deliv drivers had to frequently wait 40 minutes or more to collect grocery orders when they showed up at Walmart stores. One reason given for that, is that Walmart places priority on customers over delivery drivers during regular hours, which led to hurdles in the partnership.


Store operati…

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VW And Ford Reportedly Apart On Investment In Ford's Self-Driving Unit

Volkswagen and Ford, amid reports of the former mulling an investment in Ford's autonomous vehicle unit, are said to be in dis-agreement on the amount to be invested, with Ford seeking at least $500 million, after seeking an earlier $1 billion. Reuters reports this, citing people familiar with the negotiations.

Reuters says Volkswagen has resisted agreeing to invest in Ford's self-driving unit, instead preferring to announce a collaboration on this area. It says some of he hesitation comes from questions about Ford's self-driving technology. Volkswagen CEO Herbert Diess previously said that both companies have not officially decided to collaborate on self-driving cars, a field he termed as one with "still a lot of hype".


Shortly after, both companies announced an alliance on development of commercial vans and pickup trucks, a market that makes up high amount of revenue in the automobile scene. According to Reuters, another issue in the investment talks is how bo…

Johnson & Johnson To Acquire Auris Health For $3.4 Billion

In sync with a previous report, Johnson & Johnson has announced it'll be purchasing surgical robotics Auris Health for $3.4 billion in cash, and additional payments of up to $2.35 billion tied to certain milestones. New Jersey headquartered Johnson & Johnson is acquiring Auris Health via its subsidiary, Ethicon, with a purchase price of $3.4 billion marking one of the largest exits in the medical technology market.

Auris will complement Johnson & Johnson's acquisition of Orthotaxy’s robotic technology for orthopaedics and the continued development of the Verb Surgical Platform, via a strategic partnership with Alphabet's Verily. Auris which develops robotics tech for medical applications, is backed by notable names like Viking Global, Coatue Management, Lux Capital, Wellington Management and Highland Capital.


The company has raised $730 million in total funding according to Crunchbase data, last valued at about $2 billion from a previous round. “We’re thrilled…

Netflix Reportedly Scoops Up Cortez Campaign Documentary For $10 Million

Knock Down The House, a campaign documentary featuring U.S. Representative for New York's 14th congressional district, Alexandria Ocasio-Cortez, was reportedly acquired by Netflix for $10 million, after receiving the prestigious Sundance Festival Favorite Award. Deadline reports this price, noting of the price being the highest amount ever, brokered for a documentary at a film festival.

Netflix beat competition from Amazon, Hulu, Focus and NEON to acquire the documentary, Deadline says. Along with Cortez, the documentary features campaign stories of congresswomen Cori Bush, Amy Vilela and Paula Jean Swearengin. This furthers Netflix's hefty spend on content, as it races to keep users on its platform with exclusive titles, amid competition from the likes of Amazon Prime Video, Hulu and Disney's upcoming streaming service.


In recent times, Netflix has acquired titles like Evangelion, animated feature Pachamama, Nollywood movie Lionheart, sci-fi thriller I Am Mother, Zac Efro…

Flexport Reportedly In Talks To Raise $500 Million Softbank Led Round

Flexport - a San Francisco based freight forwarding and customs brokerage startup, valued at over $1 billion from a $100 million investment by China's SF Express, made in April 2018 - is said to be raising around $500 million in a Softbank-led round, that would mark the Japanese based tech conglomerate's third consecutive investment in a week span, after autonomous delivery startup Nuro and UK fintech OakNorth.

Axios reports this, citing a source that says Flexport may be valued at around $3 billion with this round. It however states that a final investment could be smaller if both parties - Flexport and Softbank - gets concerned about CFIUS (Committee on Foreign Investment in the United States) approvals.


Flexport has already raised $300 million in funding according to Crunchbase data, from investors including Founders Fund, Bloomberg Beta, DST Global, First Round Capital, Alrai Capital and Y Combinator. Founded in 2013, the company provides global logistics services like ai…

GM Cruise Is Short Of Self-Driving Miles Predictions

According to a report released on Wednesday by the California Department of Motor Vehicles (DMV), GM Cruise, General Motors' self-driving unit, clogged 450,000 self-driving miles all of last year in California where it does the bulk of its testing. This falls short of a prediction made by Cruise co-founder and then CEO Kyle Vogt 14 months ago, when GM told investors it was on the edge of putting 1 million miles on its self-driving test cars each month.

According to the report, self-driving leader Waymo clogged 1.2 million test miles in California in all of last year, a more than triple from 352,000 miles in 2017. But for consideration, Cruise was launched in 2013 compared to Waymo which clocks a decade old this year. Along with this two, other companies that test self-driving cars in the state of California include Nuro - which just raised $940 million from Softbank, TuSimple - which just raised $95 million Series D funding, Apple, Bosch, Baidu, Aurora, Ford, AutoX, Honda, Lyft, …

Amazon To Acquire Home Mesh WiFi Startup, Eero

Just days after revealing it spent a total of $1.65 billion on acquisitions in 2018, Amazon has announced it's acquiring Eero, the popular maker of home mesh WiFi systems that makes use of multiple access point to surround homes with fast and reliable WiFi coverage all on a single network.

Amazon has previously acquired video doorbell company Ring and home security camera maker Blink, marking this as another addition to its hardware line, one that's key for use of its virtual assistant, Alexa. How much Amazon paid for Eero is not disclosed, but for a hint, Eero last raised $50 million Series C funding in 2016, at a roughly $278 million valuation, according to Pitchbook data.


The San Francisco based company has raised some $90 million in funding according to Crunchbase data, from investors including Andy Rubin's Playground Global, First Round Capital, Menlo Ventures, StartX, Slow Ventures, Shasta Ventures, Grishin Robotics and Redpoint.

“From the beginning, eero’s mission …

EA's Apex Legends Hits 25 Million Players In A Week

Electronic Arts' new battle royale game - Apex Legends - has set record with 25 million player signups in just a week of release, the company announced on Tuesday, sending its shares up 8.5% on the public markets. According to Respawn's Vince Zampellla who broke the news, Apex Legends also has "well over" 2 million concurrent players along with its 25 million total players.

Hitting such high metric in short time places Apex Legends as a super viral title, garnering 10 million players within three days and now 25 million within a week. For comparison, Fortnite, the biggest battle royale title right now took 2 weeks to hit 10 million players and 6 weeks to hit 20 million players, according to gaming industry analyst Daniel Ahmad.


EA, which is behind several popular titles like FIFANeed for Speed, Plants vs. Zombies, The Sims and Battelfield V is likely trying to reproduce the success of Fortnite - which has developed a massive following with teenagers and older game…

Kroger Unveils Mobile Payments App And New Rewards Debit Card

Kroger - the largest grocery chain in the U.S. - has announced a new mobile payments method, "Kroger Pay", a solution that is says "securely combines a customer's payment and loyalty card information to create a faster checkout experience". Kroger Pay is available or iOS and Android devices will work this way :

A customer - who has linked a card with the app - enters their custom PIN  or bio-metricsThe app provides a single-use QR code to scan at the checkout terminal to quickly link with payment and loyalty card information (including digital coupons and personalized offers) Checkout is done
The new payment method has launched in Kroger's Columbus, Ohio division, and will roll out to 10 additional markets in the spring. A nationwide launch is planned for later this year. Kroger is also launching a new rewards debit card, a payment option that connects directly to a customer's checking account, offering benefits like bonus fuel points and Our Brands dis…

Uber Sues NYC Over Cap On Number Of Allowed Drivers

Uber is taking New York City to court over a decision to limit the number of ride-hailing drivers allowed on the streets. As reported by Bloomberg, Uber is expected to file the suit this Friday, arguing that the city doesn't possess enough evidence to prove a claim of limiting the number of ride-hailing drivers as a way of lessening congestion.

The San Francisco headquartered company is also alleging that New York Mayor Bill de Blasio is treating the business unfairly, stating that the mayor for five years running, doesn't intend to take a look at ongoing congestion studies on their merits but has instead already bind to constantly limit the number of drivers in the city.


Uber also argues that the City of New York is overriding the state's authority to place a limit on the number of professional drivers allowed on the road. It says a limitation “will have a disproportionate impact on residents outside of Manhattan who have long been underserved by yellow taxis and mass tr…

Mastercard, Visa Reportedly Mulling To Up Merchant Transaction Fees

Mastercard and Visa, the two largest U.S. card networks, are said to be preparing to increase certain fees it charges U.S. merchants for transaction processing. The Wall Street Journal reports this, citing people familiar with the matter. According to WSJ, some of the changes relate to interchange fees - transaction fees that a merchant pays whenever a customer makes use of a credit/debit card to make a purchase from their store - and will take effect by April.

The paper also says that fees levied on financial institutions - like banks - by  Mastercard and Visa, for card payment processing on behalf of merchants are also set for an increase. This report comes few months after Mastercard and Visa agreed to pay $6.2 billion in settlement to end a long-running price-fixing case brought against it by merchants. Merchants accused both companies of violating anti-trust laws by forcing retailers to pay swipe fees and preventing them from directing customers to other payment methods. The set…