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How do ride-hailing giants Didi and Uber compare?

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Chinese ride-hailing giant Didi Global is set to make its trading debut on the New York Stock Exchange on Wednesday after an initial public offering that sources said raised $4.4 billion, valuing it at $67.5 billion in the biggest share sale by a Chinese company in the U.S. in seven years.

Didi absorbed Uber’s China business in 2016 – Uber retains a 12.8% stake in the firm – and averaged 25 million rides a day in the first three months of the year in China, where it is the dominant operator.

Here are some key facts of the company and its global rival, U.S.-based industry pioneer Uber Technologies Inc, which has a market capitalisation of $95 billion:

FOUNDING

– Didi was founded by Chief Executive Will Cheng, formerly at Alibaba, in Beijing in 2012. Co-founder and President Jean Liu joined in 2014.

– Uber was founded in 2009 by Garrett Camp and Travis Kalanick. It went public in May 2019.

BUSINESS PROFILE

– Didi’s main business is ride-hailing in China. It operates in 15 international markets including South America, Japan, Australia, Russia and South Africa. It also provides services including food delivery, community group buying and logistics.

– Uber’s core business includes ride-hailing, which operates in about 70 countries, and restaurant food delivery under its Uber Eats brand in 34 countries.

The company generates the bulk of its revenue in the United States and Canada.

DRIVERS

– Didi has 15 million annual active drivers globally for the twelve months ended March, 2021.

– Uber in February 2020 said it had some 5 million drivers worldwide.

PROFITABILITY

– Didi was loss-making from 2018 through 2020 but made a $30 million profit in the first quarter this year.

– Uber keeps losing money but has promised investors to be profitable on an adjusted EBITDA basis by the end of this year.

CARS

– Many Didi drivers rent cars from fleet companies. Didi has fleet management partnerships with carmakers including Toyota, BYD and Nissan.

– Uber drivers in most of the company’s markets are independent contractors who use their own vehicles. Uber disbanded its own vehicle rental program in 2018, but drivers can still sign up for short-term rentals with other companies.

TECHNOLOGY AND DEVELOPMENT

– Didi is testing autonomous driving with a fleet of more than 100 cars.

– Uber in December sold its autonomous driving unit, Uber Advanced Technologies Group (ATG), to self-driving car startup Aurora.

– Didi rolled out a purpose-built vehicle for ride-hailing with China’s BYD and is working on a future model with autonomous driving functions with GAC, a Chinese carmaker.

– Uber announced it was working with British electric van and bus maker Arrival to develop a purpose-built model for ride-hailing that will go into production in 2023.

(Reporting by Yilei Sun and Tina Bellon; Editing by Tony Munroe and Louise Heavens)

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Quick Quotes: What Liberal MPs have to say as the caucus debates Trudeau’s future

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OTTAWA – Here are some notable quotes from Liberal members of Parliament as they headed into a caucus meeting Wednesday where they are set to debate Prime Minister Justin Trudeau’s leadership.

Comments made after the caucus meeting:

“The Liberal party is strong and united.”

Prime Minister Justin Trudeau

———

“Justin Trudeau is reflecting and he’s standing strong and we’re standing strong as a Liberal party.”

“We as a party recognize that the real threat here is Pierre Poilievre and that’s what we’re fighting for.”

“Trudeau has made very clear that he feels he’s the right choice but he appreciates all of what is being said because he’s reflecting on what is being done across Canada. I respect his decision, whatever that may be.”

Charles Sousa, MP for Mississauga—Lakeshore

———

“We had some open and frank discussions. People are relentlessly focused on serving Canadians and win the next election. This was really a rallying call to win the next election.”

Industry Minister François-Philippe Champagne, MP for Saint Maurice—Champlain

———

“I don’t know how many people spoke, well over 50 I’m sure. They came at this from all angles and now (we’ve) got to go back and process this.

“We’re on a good path.

“It was very respectful. You know, caucus has always had the ability to get into some tough conversations. We did it again today and it went extremely well. Where we land? Who knows? You know we have to go and really process this stuff. But one thing that is absolutely, you know, fundamental is that we are united in the fact that we cannot let that creature from the Conservative party run the country. He would ruin things that people greatly value.”

Ken Hardie, MP for Fleetwood—Port Kells

———

Comments from before the caucus meeting:

“There’s a — what would you call it? Some palace drama going on right now. And that takes us away from the number 1 job, which is focusing on Canadians and focusing on the important policies but also on showing the really clear contrast between our government, our party and Pierre Poilievre.”

Randy Boissonnault, Employment Minister, MP for Edmonton Centre

———

“We’re going to go in there and we’re going to have an excellent discussion and we are going to emerge united.”

Treasury Board President and Transport Minister Anita Anand, MP for Oakville

———

“I think caucus is nervous because of the polling that has been constantly going down in favour of Liberals, and there’s a lot of people who do want to run again. I’m not running again, although I already told the prime minister that. But there are people there that want to run again and they’re nervous because of what polls are saying.”

“He has to start listening.”

Ken McDonald, MP for Avalon

———

“We’re going to have a good caucus meeting. MPs should be free to air their perspectives, I’m sure they will, and we’ll come out of it united.”

Peter Fragiskatos, MP for London North Centre

———

“I have to read the room. There’s all sorts of wheels within wheels turning right now. I’m just going to go in there, I’m going to make my mind a blank and just soak it all in.”

“I’m not going to say anything about (the prime minister) until I have my say in there.”

Ken Hardie, MP for Fleetwood—Port Kells

———

“I wish there was a mechanism for it, yes,” he said, responding to whether he wanted a secret ballot vote in caucus to determine Trudeau’s leadership.

Sean Casey, MP for Charlottetown

———

“The prime minister will always be on my posters and he is welcome in Winnipeg North any time.”

Kevin Lamoureux, MP for Winnipeg North

———

“Absolutely I support the prime minister.”

Yvonne Jones, MP for Labrador

———

“When you look divided, you look weak.”

Judy Sgro, MP for Humber River—Black Creek

———

“I think Pierre Poilievre is absolutely beatable, he’s ripe for the picking with the right vision, the right leadership and the right direction for our party. The Liberal party is an institution in this country. It’s bigger than one person, one leader, and it’s incumbent on us as elected officials to make sure we put the best foot forward.”

Wayne Long, MP for Saint John—Rothesay

This report by The Canadian Press was first published Oct. 23, 2024.



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With Liberal election win, First Nations in N.B. look forward to improved relations

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FREDERICTON – Chief Allan Polchies says he is excited about New Brunswick’s new Liberal provincial government.

Polchies, of St. Mary’s First Nation, says he looks forward to meaningful dialogue with premier-designate Susan Holt after years of tense relations with the outgoing Progressive Conservatives under Blaine Higgs.

He is one of six Wolastoqey Nation chiefs who have filed a land claim for a significant part of the province, arguing treaty rights have not been respected by corporations and governments, both of which have exploited the land for hundreds of years.

The December 2021 court challenge has been a sore point between Indigenous Peoples and the Higgs’s government.

Eight Mi’kmaw communities are also asserting Aboriginal title to land in the province, and they say they hope to work with Holt and her team on “advancing issues that are important to our communities.”

Holt’s campaign didn’t give details on the Liberal government’s position on the Indigenous claims, but she has said she wants to rebuild trust between the province and First Nations.

This report by The Canadian Press was first published Oct. 23, 2024.

The Canadian Press. All rights reserved.



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Abdelrazik tells of despair when Ottawa denied him passport to return home from Sudan

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OTTAWA – Abousfian Abdelrazik told a court today about the roller-coaster of emotions he experienced during the tense days of early 2009 when he awaited the green light to return to Canada from Sudan.

The Sudanese-born Abdelrazik settled in Montreal as a refugee and became a Canadian citizen in 1995.

During a 2003 visit to his native country to see his ailing mother, he was arrested, imprisoned and questioned about suspected terrorist connections.

Abdelrazik says he was tortured during two periods of detention by the Sudanese intelligence agency.

He is suing the federal government, claiming officials arranged for his arbitrary imprisonment, encouraged his detention by Sudanese authorities and actively obstructed his repatriation to Canada for several years.

In March 2009, he made arrangements to fly home to Canada and asked Ottawa to issue him an emergency passport, but his hopes were dashed — at least temporarily — when the request was turned down.

This report by The Canadian Press was first published Oct. 23, 2024.

The Canadian Press. All rights reserved.



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