Uber announces price cuts In 48 U.S. cities, but guarantees its drivers will earn more: A big part of the reason Uber has raised two billion dollar funding rounds is that offering service is capital intensive. In some markets battling its rivals necessitates aggressive price cuts, while in others offering price reduction is a way to appeal to more consumers and widen awareness of its service. (Tech Crunch)
Google to start selling auto insurance in the U.S., analyst says: Google Inc may be moving into the U.S. auto insurance market with a shopping site for people to compare and buy policies, an analyst said on Thursday, as it continues to shift its attention to the automotive industry.
The search giant is planning soon to pilot its new Google Compare auto insurance comparison shopping site, wrote Forrester analyst Ellen Carney in a note. According to Carney, the company has been pitching the service to insurance providers for more than two years. (Reuters)
Alibaba founder Jack Ma apologizes for criticizing rival JD.com: Next time Jack Ma talks trash about a rival, he may do it while wearing only a towel.
Alibaba Group charismatic founder has apologized after his remarks that a rival e-commerce giant was headed for "tragedy" went viral online, saying his friend recorded and released what were meant to be private comments.
Ma said in a post on his verified Sina Weibo WB micro blogging page that he didn't expect his criticisms of rival online retailer JD.com to have been recorded by a friend and put in writing that would be carried by the Chinese media. He didn't identify the friend. (The Wall Street Journal)