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Uber agrees to buy electric cycle-sharing startup JUMP Bikes

SAN FRANCISCO: Ride-hailing company Uber said on Monday it has agreed to buy electric bicycle service JUMP Bikes, allowing Uber to offer US passengers an alternative to cars and further consolidating the crowded bike-sharing industry. JUMP is a dockless electric bike service that has rolled out in San Francisco, where it has 250 bikes, and Washington. About 100 JUMP employees will join Uber, an Uber spokeswoman said. Terms of the deal were not disclosed. The deal furthers Uber’s goal of offering “the fastest or most…

Top ten buys on first day of IPL auction

With more than $60 million to spend, the eight Indian Premier League teams splashed out again Saturday for the 2018 season. Here are the top 10 buys by value: Read More: Kohli earns record $2.7m salary for 2018 IPL campaign Ben Stokes (England - allrounder) Rajasthan Royals $1.96m Manish Pandey (India - batsman) Sunrisers Hyderabad $1.7m Lokesh Rahul (India - batsman) Kings XI Punjab $1.7m Chris Lynn (Australia - batsman) Kolkata Knight Riders for $1.5m …

Facebook buys popular teen app tbh

CALIFORNIA: Facebook Inc has acquired tbh, an app popular among teens, as the world’s largest social network looks to attract more users. The app, an acronym for “To be Honest”, allows users to anonymously answer multiple choice questions about friends, who then receive the poll results as compliments. Over 5 million people have downloaded the app and sent over a billion messages in the past few weeks, tbh said on Monday. Financial terms of the deal were not disclosed. The app, launched this summer in 36 US…

Shah Rukh Khan buys South Africa T20 franchise

LONDON: Indian movie star Shah Rukh Khan added a third Twenty20 franchise team to his collection when he was named as one of the owners in the new eight-team South African Global League on Monday. The Bollywood leading man expanded his established Knight Riders Brand with the purchase of the Cape Town franchise to add to the teams he already owns in Kolkata and Trinidad. There was a further link to the Indian Premier League, the lucrative Twenty20 competition that has sparked similar tournaments in the Caribbean,…

Tech billionaire buys Sydney mansion for record price

SYDNEY: Tech billionaire Scott Farquhar has bought a Sydney waterfront mansion for an Australian record Aus$75 million (US$56 million), a report said Monday, after the owners resisted selling the 1863-built home to developers. The co-founder of Australian software giant Atlassian, which floated in the United States in late 2015, snapped up the iconic "Elaine" from John Brehmer Fairfax, whose family formerly owned the Sydney Morning Herald. The estate, which stretches down to a harbour beach in Sydney's prestigious…

KFC to curb antibiotic use in the chickens it buys

LOS ANGELES: Yum Brands US KFC chain plans to curb the use of antibiotics in its chicken supply, making it the last of the big three chicken restaurants to join the fight against the rise of dangerous antibiotic-resistant bacteria known as superbugs. KFC, the second-biggest US chicken chain by sales after privately held Chick-fil-A, is giving its US poultry suppliers until the end of 2018 to stop using antibiotics important to human medicine. Some 70 percent of antibiotics vital for fighting infections in humans are sold…

Amazon buys Middle East e-commerce giant Souq.com

Tech giant Amazon expanded its global reach Tuesday with the announcement of a deal to buy Dubai-based Souq.com, the Middle East's largest online retailer. The agreement, the financial details of which were not disclosed, brings Amazon into a fast-growing market as it continues to invest in its core retail network despite expanding into a wide range of services. It appears competition was fierce to acquire Souq.com, with the Amazon deal announced just a day after Dubai-based Emaar Malls confirmed offering $800 million…