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Lyft raises $500m 'war chest' in battle with Uber

Daily Mail

Uber rival Lyft is raising an additional $500 million in funding ion its ongoinjg battle with Uber, according to a U.S. share authorization document filed in Delaware. The additional funding round, led by Alphabet's CapitalG, is an extension of the $1 billion round announced in October. The additional funding round, led by Alphabet's CapitalG, is an extension of a $1 billion round announced in October, and raises the firm's valuation to $11.5 billion Axios was first to report the news. In October Lyft had said that the previous round of funding boosted its valuation to $11 billion from $7.5 billion. The fresh funding would raise its valuation to $11.5 billion.


Lyft wins permit to test self-driving cars in California

Daily Mail

U.S. ride-hailing firm Lyft has secured a permit to test autonomous vehicles in California, taking it one step further in the race with several other companies to bring self-driving cars to the masses. Lyft's permit, reflected on the California Department of Motor Vehicles (DMV) website, comes two months after it announced plans to offer a self-driving car as a ride option in the San Francisco Bay Area. Lyft already has partnerships in place with autonomous car companies to advance its self-driving strategy. Ride-hailing firm Lyft Inc said on Monday it would launch its service in Toronto, marking the first international expansion for the U.S.-based rival of Uber Technologies Inc. Ford self-driving test vehicles will be connected to Lyft's network, but at first, customers will not be able to use them, according to Sherif Marakby, Ford's vice president for autonomous vehicles and electrification.


AutoNation announces Waymo fleet repair deal, shares jump

Daily Mail

US auto retailer AutoNation Inc announced a multi-year partnership on Thursday to support Alphabet Inc's Waymo self-driving car unit, including vehicle maintenance and repairs as the company adds new brands into its fleet, sending its shares up 13 percent to a high for the year. That news was accompanied by a better-than expected third-quarter profit as AutoNation performed well despite the impact of hurricanes during the quarter. There is fierce competition between large automakers to bring self-driving cars to market first. Lauderdale, Florida-based AutoNation is the latest in a series of recent partnerships the self-driving unit has formed. Google has revealed the self driving minivans it hopes could revolutionize the way we travel.


Tesla reports biggest-ever quarterly loss, Model 3 delays

Daily Mail

Tesla racked up a $619 million loss in the third quarter, its biggest-ever, driving its shares sharply lower as the electric-car maker spends to speed up production of its more affordable Model 3 sedan. The company, led by Silicon Valley star Elon Musk, also confirmed it had missed its Model 3 production goal for the third quarter, producing only 260 vehicles compared to an earlier estimate of 1,500. Its shares fell 5.4 percent in after hours trading. The company said it had $3.53 billion in cash and cash-equivalents as of Sept. 30, compared to $3.04 billion at the end of the second quarter. Tesla said last month it delivered 26,150 vehicles in the third quarter, a 4.5 percent rise on the same period of 2016, but added that "production bottlenecks" had left the company behind its planned ramp-up for the $35,000 Model 3. On Wednesday it said it now hoped to achieve a production rate of 5,000 per month by the end of the first quarter of next year, pushed back from the end of this year.


Amazon CEO Jeff Bezos may be the world's richest man again

Daily Mail

The battle for the title of'world's richest man' has taken a fresh twist. Amazon CEO Jeff Bezos, 53, may have pipped Bill Gates, 61, to the title after he added $6.5 billion (£5 billion) to his vast fortune yesterday. The jump came thanks to soaring Amazon share prices after its third quarterly earnings report beat expectations. Bezos now has a net worth of $90 billion (£69 billion), based on data from the Bloomberg Billionaire Index. Microsoft founder Gates still held the title at the market's close yesterday, with a net worth of $88 billion (£67 billion), according to the index.


Saudi Arabia announces plans for £380 billion city 'Neom'

Daily Mail

Saudi Arabia's has announced plans for a futuristic $500 billion (£380 billion) city to be built to run entirely on alternative energy and be an innovation hub for the future. The project, dubbed Neom, will be built on untouched land along the country's Red Sea coastline near Egypt and Jordan and will span three countries. The ambitious plans, announced by Crown Prince Mohammed bin Salman today, could lead the way in the use of drones, driverless cars and robotics. Saudi Arabia's has announced plans for a new £380 billion ($500 billion) city. The zone will be built on Saudia Arabia's Red Sea coastline and will power itself with green energy sources.


Amazon's Alexa to chat up Microsoft's Cortana

Daily Mail

Alexa customers will be able to access Cortana's unique work-related features like booking meetings, accessing work calendars, and reading work emails. Bezos raised the idea with Nadella in May 2016 at Microsoft's annual CEO summit in Seattle, then initiating it further by forwarding Nadella a draft of a news release describing how Alexa and Cortana could work together Amazon and Microsoft have been coordinating behind the scenes to make their voice assistants communicate for over a year. Bezos raised the idea with Nadella in May 2016 at Microsoft's annual CEO summit in Seattle, then initiating it further by forwarding Nadella a draft of a news release describing how Alexa and Cortana could work together. Bezos raised the idea with Nadella in May 2016 at Microsoft's annual CEO summit in Seattle, then initiating it further by forwarding Nadella a draft of a news release describing how Alexa and Cortana would work together.


Google's voice assistant coming to speakers and appliances

Daily Mail

The AI - which rivals Apple's Siri, Amazon's Alexa, and Microsoft's Cortana - will now be found on a new set of third-party speakers and appliances, the company announced today at IFA the consumer electronics show in Germany. Google Assistant- which rivals Apple's Siri, Amazon's Alexa, and Microsoft's Cortana - will now be found on a new set of third-party speakers and appliances, the company announced today at IFA the consumer electronics show in Germany. Bezos raised the idea with Nadella in May 2016 at Microsoft's annual CEO summit in Seattle, then initiating it further by forwarding Nadella a draft of a news release describing how Alexa and Cortana could work together Amazon and Microsoft have been coordinating behind the scenes to make their voice assistants communicate for over a year. Bezos raised the idea with Nadella in May 2016 at Microsoft's annual CEO summit in Seattle, then initiating it further by forwarding Nadella a draft of a news release describing how Alexa and Cortana could work together.


Tesla's gigafactory revealed in latest drone footage

Daily Mail

Windows introduces'Cortana': Your personal digital assistant Moon's shadow crosses from coast to coast during solar eclipse Fawn falls prey to eagle at Wisconsin's Lake Noquebay Hysterical woman is comforted'after watching Annabelle: Creation' Once completed in 2020, the factory is set to become one of the biggest buildings in the world, with a final size of 10 million square feet. 'We are still less than 30 percent done, and once complete, we expect the Gigafactory to be the biggest building in the world,' Tesla said The factory will initially produce a high performance cylindrical '2170 cell' which was jointly designed and engineered by Tesla and Panasonic to offer the best performance at the lowest production cost in an optimal form factor for both electric vehicles and energy products The factory will initially produce a high performance cylindrical '2170 cell' which was jointly designed and engineered by Tesla and Panasonic to offer the best performance at the lowest production cost in an optimal form factor for both electric vehicles and energy products. 'In 2017 alone, Tesla and Panasonic will hire several thousand local employees and at peak production, the Gigafactory will directly employ 6,500 people and indirectly create between 20,000 to 30,000 additional jobs in the surrounding regions,' said Tesla'In 2017 alone, Tesla and Panasonic will hire several thousand local employees and at peak production, the Gigafactory will directly employ 6,500 people and indirectly create between 20,000 to 30,000 additional jobs in the surrounding regions.' Windows introduces'Cortana': Your personal digital assistant Moon's shadow crosses from coast to coast during solar eclipse Fawn falls prey to eagle at Wisconsin's Lake Noquebay Hysterical woman is comforted'after watching Annabelle: Creation'


Toyota joins Intel to create self-driving car 'ecosystem'

Daily Mail

This includes Intel, DENSO, Ericsson, Nippon Telegraph and Telephone Corporation (NTT), NTT DOCOMO and both the Toyota InfoTechnology Center Co. and Toyota Motor Corp. Also joining the consortium are DENSO, Ericsson, Intel, Nippon Telegraph and Telephone Corporation (NTT), and NTT DOCOMO. Earlier this week, Intel announced plans for a fleet of self-driving cars following its completion of the purchase of Israeli autonomous technology firm Mobileye. Silicon Valley giant Intel on Wednesday announced plans for a fleet of self-driving cars following its completion of the purchase of Israeli autonomous technology firm Mobileye.