Canada markets open in 3 hours 1 minute

  • S&P/TSX

    19,258.32
    +195.41 (+1.03%)
     

  • S&P 500

    3,900.11
    -11.63 (-0.30%)
     

  • DOW

    31,438.26
    -62.42 (-0.20%)
     

  • CAD/USD

    0.7793
    +0.0024 (+0.31%)
     

  • CRUDE OIL

    111.37
    +1.80 (+1.64%)
     

  • BTC-CAD

    27,017.58
    -660.52 (-2.39%)
     

  • CMC Crypto 200

    459.63
    -2.17 (-0.47%)
     

  • GOLD FUTURES

    1,826.60
    +1.80 (+0.10%)
     

  • RUSSELL 2000

    1,771.74
    +6.01 (+0.34%)
     

  • 10-Yr Bond

    3.1940
    0.0000 (0.00%)
     

  • NASDAQ futures

    12,082.50
    +42.00 (+0.35%)
     

  • VOLATILITY

    27.04
    -0.19 (-0.70%)
     

  • FTSE

    7,341.34
    +83.02 (+1.14%)
     

  • NIKKEI 225

    27,049.47
    +178.20 (+0.66%)
     

  • CAD/EUR

    0.7357
    +0.0021 (+0.29%)
     

Toyota Halved Stake in Uber Following Self-Driving Unit Sale

  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
River Davis and Tsuyoshi Inajima
·1 min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • TM
  • UBER

(Bloomberg) -- Toyota Motor Corp. sold about half of its Uber Technologies Inc. shares after the US mobility company carved out its self-driving division.

Most Read from Bloomberg

Toyota held about 5.13 million shares of Uber in the fiscal year ended March, half the amount it reported the previous year, according to a securities filing Thursday. Toyota reported Uber holdings valued at 22.4 billion yen ($165 million), down from 61.9 billion yen a year earlier.

Uber’s work on autonomous driving was one of Toyota’s original objectives for investing in the company, spokeswoman Shiori Hashimoto said Thursday. Toyota sold its stake in Uber following Aurora Innovation Inc.’s 2020 purchase of the ride-hailing company’s self-driving division. Toyota first took a stake in Uber in 2016 and increased it two years later.

Toyota and Uber’s “good relationship” has not changed, Toyota’s Hashimoto said, adding “we would like to continue to examine possibilities for various collaborations.”

As of the end of March, Toyota held 47.6 million shares of Aurora, worth about 32.4 billion yen.

Most Read from Bloomberg Businessweek

©2022 Bloomberg L.P.

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting

Latest Stories

  • Russia to spend $14.5 billion to boost local aircraft production amid sanctions

    The Russian aviation industry has been in crisis since the West imposed sanctions after Moscow's invasion of Ukraine, banning Russian airlines from flying to destinations in Europe, the United States and other countries. Russian airlines have largely stopped international flights, after leasing companies said they would seize planes in line with sanctions. Moscow has passed a law allowing the seizure of hundreds of jets in response to those sanctions.

  • Sri Lanka sends 2 ministers to Russia for oil amid crisis

    COLOMBO, Sri Lanka (AP) — Sri Lanka is sending two government ministers to Russia to negotiate for fuel — one of the necessities nearly exhausted as a result of the Indian Ocean nation's economic collapse. The plan comes as Washington and its allies aim to cut off energy imports from Russia in line with sanctions over its war against Ukraine. Since its invasion in late February, global oil prices have skyrocketed, prompting a number of countries to seek out Russian crude, which is being offered

  • Passive-Income Power: How to Make $105/Week TAX FREE in a Bear Market

    Investors may want to pursue a passive-income strategy in this bear market by snagging dividend stocks like Freehold Royalties Ltd. (TSX:FRU). The post Passive-Income Power: How to Make $105/Week TAX FREE in a Bear Market appeared first on The Motley Fool Canada.

  • RRSP Investors: 2 Oversold Dividend Stocks to Buy Now for Total Returns

    These great Canadian dividend stocks look cheap today for an RRSP focused on total returns. The post RRSP Investors: 2 Oversold Dividend Stocks to Buy Now for Total Returns appeared first on The Motley Fool Canada.

  • EY to pay $100 million to settle U.S. charges of staff cheating on accountant exams

    Big Four accounting firm Ernst & Young will pay $100 million to settle U.S. Securities and Exchange Commission (SEC) charges that its auditors cheated on certified public accounting (CPA) exams and that it misled the agency's investigators. The London-based auditor admitted to the charges, the regulator said, and agreed to pay what the SEC said is its largest fine against an auditor. EY has also agreed to "undertake extensive remedial measures to fix the firms ethical issues," the SEC said.

  • Global Secure SD-WAN Solutions Thrive as Organizations Turn to Cloud and 5G

    Secure software-defined wide area network (SD-WAN) global demand increases as organizations strive to meet security concerns and improve the employee experience. Frost & Sullivan's recent analysis finds that the global secure SD-WAN solutions market is expected to reach $6.52 billion by 2026 from $1.67 billion in 2021 at a compound annual growth rate (CAGR) of 31.3%.

  • Five things to watch for in the Canadian business world in the coming week

    TORONTO — Five things to watch for in the Canadian business world in the coming week: Markets Stock markets have been on a wild ride in recent weeks as they have come off their highs of earlier this year amid higher interest rates, growing inflation and fears of a possible recession. Investors will be watching to see what this week will bring as markets head into what is traditionally the slower summer months. Kinross update Kinross Gold Corp. is expected to hold a virtual review session Tuesday

  • Top 3 Countries for Future Growth Potential: The United States, Norway, and the United Kingdom

    Frost & Sullivan recognizes the United States, Norway, and the United Kingdom for moving in the right direction and demonstrating the highest future growth potential globally. Based on macroeconomic growth indicators and citizen-centricity, the United States, Norway, and the United Kingdom have been ranked the top three countries, according to the 2022 edition of Frost & Sullivan's Frost Radar™ for Economic Development.

  • Oil price cap could strike Russia's war chest - if enforced

    GARMISCH-PARTENKIRCHEN, Germany (AP) — Leaders of the world’s biggest developed economies are weighing a cap on the price of Russian oil meant to strike at the main pillar of the Kremlin's finances following its invasion of Ukraine — and to limit the havoc that high energy prices are wreaking worldwide. Details haven't been agreed at the Group of Seven summit in Elmau, Germany, but the basic idea would be to tie the price cap to the services that make trading oil possible. For instance, insurers

  • As COVID fears ebb, Japan readies for tourists from abroad

    TOKYO (AP) — The rickshaw men in Tokyo are adding English-speaking staff, a sure sign Japan is bracing for a return of tourists from abroad. Japan’s border controls to curb the spread of coronavirus infections began gradually loosening earlier this month. That's great news for Yusuke Otomo, owner of Daikichi, a kimono rental shop in Asakusa, an old district of Tokyo famous for its temples, quaint restaurants and rickshaw rides. He can barely contain his excitement. “Those were a hard three years

  • 3 Growth Stocks up +30% in 2022

    These three growth stocks are up over 30% in 2022 alone but have come down in the last few weeks to a more affordable price point. The post 3 Growth Stocks up +30% in 2022 appeared first on The Motley Fool Canada.

  • Cryptoverse: Ether holds its breath for the lean, mean 'merge'

    Investors in ether and its troubled twin stETH are nervously anticipating a crypto milestone: The merge. That's the name for a major upgrade of the Ethereum blockchain network upon which many crypto projects are built, aimed at making it leaner, meaner and cleaner. The merge was supposed to happen years ago but has been delayed several times, with developers most recently axing plans to push the button in June, unnerving investors who began to fear it might never see the light of day.

  • 2 Dividend Stocks to Own When the Market Is in Turmoil

    Two TSX stocks can sustain dividend payments, even if the present market turmoil extends longer than expected. The post 2 Dividend Stocks to Own When the Market Is in Turmoil appeared first on The Motley Fool Canada.

  • China vows timely policy measures to cope with economic risks

    China will roll out tools in its policy reserve in a timely way to cope with more economic challenges, as COVID-19 outbreaks and risks from the Ukraine crisis pose a threat to employment and price stability, a state planner official said on Tuesday. The government will implement its existing support measures while improving its policy toolbox, Ou Hong, deputy secretary general at the National Development and Reform Commision, told a news conference. New policy support, depending on the circumstances, can be rolled out in a timely manner, he said.

  • RRSP Investors: 2 Undervalued TSX Stocks to Buy Now for Total Returns

    Top TSX dividend stocks are now on sale for RRSP investors seeking attractive total returns. The post RRSP Investors: 2 Undervalued TSX Stocks to Buy Now for Total Returns appeared first on The Motley Fool Canada.

  • North American debut of ground breaking film this evening celebrates revolutionary mental health therapy

    When Claudia Gerini was growing up in Italy, she probably didn't think she would be helping lead a mental healthcare revolution on the other side of the Atlantic.

  • Oil rises $2/bbl after G7 vows new Russian sanctions

    HOUSTON (Reuters) -Oil rose $2 a barrel on Monday on the prospect of even tighter supplies loomed over the market as the Group of Seven nations promised to tighten the squeeze on Russian President Vladimir Putin's war chest while actually lowering energy prices. The group of wealthy nations vowed to stand with Ukraine "for as long as it takes", proposing to cap the price of Russian oil as part of new sanctions to hit Moscow's finances. "I think if they were to implement a price cap on sale and purchase of Russian oil, it's difficult for me to imagine how this is going to be implemented, especially when China and India have become Russia's biggest customers," said Houston-based oil consultant Andrew Lipow.

  • Private air travel takes off — but can it stay aloft?

    MONTREAL — Three years ago, Chris Nowrouzi’s private charter airline served mainly ultra-wealthy leisure travellers and the upper echelons of the corporate world. Now, 27 months into a global pandemic that closed borders and battered airlines, his Toronto-based FlyGTA caters to a broader swath of families and groups wary of the health risks and airport hassle of commercial air travel — and who have cash to spare. “After the pandemic definitely we saw an increase of numbers all across the board,”

  • Is Blackline (TSX:BLN) Stock Worth Your Attention in 2022?

    Blackline Safety Corp. (TSX:BLN) stock has struggled in the year-over-year period, but there are some positives to glean from its earnings. The post Is Blackline (TSX:BLN) Stock Worth Your Attention in 2022? appeared first on The Motley Fool Canada.

  • Lockheed wins $2.3 billion contract to build Black Hawk helicopters

    Lockheed Martin Corp won a $2.3 billion contract to build at least 120 H-60M Black Hawks as the U.S. military continues its search for a next-generation helicopter, the Pentagon said on Monday. The five-year contract includes options for an additional 135 aircraft which will be available to the Army as well as other U.S. agencies and allies, pushing the potential total contract value to $4.4 billion with options, the Army said in a statement. "This multi-year agreement allows the Army to meet current and future capability needs through upgrades, remanufacturing, replacement, and technology insertions," said Colonel Calvin Lane, the Utility Helicopters project manager.