- 1. Uber sells a 15 percent stake to Softbank
- 2. Apple apologizes for slowing down old iPhones
- 3. Appeals court rules against bakers who refused lesbian couple's wedding cake order
- 4. China offers companies tax breaks to counter U.S. cuts
- 5. Stock futures rise putting fresh records in range on 2017's last trading day
1. Uber sells a 15 percent stake to Softbank
Uber on Thursday sold a major stake to a group led by Japanese technology conglomerate Softbank in a deal valuing the ride-hailing company at $48 billion, down from its $68 billion valuation in June 2016. Softbank, which is investing $7 billion, will acquire 15 percent of Uber, while its co-investors will get just under 3 percent. Uber said it expected the transaction "to support our technology investments, fuel our growth, and strengthen our corporate governance." The deal will give Uber and its shareholders cash ahead of its initial public offering of stock, planned for 2019, and help stabilize the company after a year of infighting and scandal that led to the resignation of former Uber CEO Travis Kalanick.
2. Apple apologizes for slowing down old iPhones
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3. Appeals court rules against bakers who refused lesbian couple's wedding cake order
4. China offers companies tax breaks to counter U.S. cuts
5. Stock futures rise putting fresh records in range on 2017's last trading day
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