Business daily

Uber to merge Chinese business with biggest rival

The ride-sharing firm Uber is to merge its Chinese business with that of its biggest rival in the country, Didi Chuxing. The new company will be worth $35 billion, and Uber China investors will hold a 20 percent stake in it. Uber boss Travis Kalanick said it was the only way for the two companies to be profitable in China. Also today, the benefits of the boom in craft beer production in the United States.