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Can Uber Survive as Co-Founder Kalanick is Driven Out?

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San Francisco-based Uber Technologies has revolutionized the ride-hailing app industry, spawning copycats in markets such as Singapore, China, and the Middle East. In addition, Uber attracted capital from all sorts of entities, including sovereign funds.

Uber (Beijing Website) – Screenshot taken on August 8, 2015

Uber had propelled itself to a US$ 70 billion unicorn, attracting Saudi money and operating in more than 70 country markets. Uber is one of the largest private companies in the world. Uber’s aggressive approach to business had led it to dominant many markets and creating many enemies, especially in the world of traditional taxis.

Uber Co-Founder Travis Kalanick issued a letter of resignation on June 20th, after the company found itself with continual headwinds stemming from employee harassment claims, corporate misbehaviors reported and what many in the U.S. media dub as an “aggressive” workplace culture. Kalanick had taken an indefinite leave of absence in June 2017.

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Emirates NBD Acquires Turkey’s Denizbank in $3.2 Billion Deal with Sberbank

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In a bid to establish itself as one of the region’s leading providers of financial services, Emirates NBD – Dubai’s largest bank – has entered into a deal to acquire a 99.99% stake in Turkey’s DenizBank A.Ş. for a bargain price of US$ 3.2 billion from Russian state-owned lender Sberbank. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Brazilian President Michel Temer Orders Liquidation of Sovereign Wealth Fund

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Brazilian President Michel Temer signed an executive order to shut down the country’s sovereign wealth fund. The money in the sovereign fund will go toward repayment of foreign debt.

The Sovereign Fund of Brazil, also known as Fundo Soberano do Brasil, was formed in 2008.

The formation of the Fundo Soberano do Brasil was authorized by then Brazilian President Luiz Inacio Lula da Silva.

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CDPQ Boosts Stake in Invenergy Renewables

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Caisse de dépôt et placement du Québec (CDPQ) boosted its ownership stake in Chicago-based Invenergy Renewables LLC. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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