China ride-hailing giant Didi sees losses deepen after crackdown | BBC News

Chinese ride-hailing giant Didi Chuxing has seen its losses deepen after Beijing ordered online stores not to offer the company’s app.

The firm reported an operating loss of $6.3bn (£4.7bn) for the first nine months of year as revenues in China fell by 5% in the third quarter.

The Chinese crackdown came just days after Didi made its New York stock market debut at the end of June.

This month, it said it will move its share listing to Hong Kong from the US.

In recent months, Didi has become one of the most high profile targets of Beijing’s clampdown on the country’s technology industry.

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Ola fails to get ride-hailing license renewed in London, says it will appeal and continues to operate | TechCrunch

Just six days after Uber won its appeal against London transportation regulators to continue operating in London for another 18 months, one of its bigger rivals has found itself in the hot seat. Ola, the India-based ride-hailing startup, is not getting its Transport for London ride-hailing license renewed, after failing to meet some of TfL’s public safety requirements specifically around licensing for drivers and vehicles.

Ola told TechCrunch it plans to appeal the decision, and as was the case with Uber, under TfL’s rules, a company is allowed to continue operating while appealing a decision.

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