What you need to know on Wall Street today

Advertisement
What you need to know on Wall Street today

Welcome to Finance Insider, Business Insider's summary of the top stories of the past 24 hours. Sign up here to get the best of Business Insider delivered direct to your inbox.

Advertisement

Uber and Waymo just settled their high-stakes battle over the future of self-driving cars.

As the first week of testimony in the explosive trial was drawing to a close, the two companies announced a settlement over the allegations that Uber had misappropriated trade secrets of Waymo, a self-driving car unit owned by Google's parent company Alphabet. Uber will pay Waymo a package that includes 0.34% of Uber's equity, according to a person familiar with the settlement.

That equals about $245 million at Uber's current private valuation of $72 billion. Read more about the settlement.

Amazon is launching a package-delivery service to compete with FedEx and UPS - and the news sent UPS and FedEx shares tumbling. Here are the 5 times Amazon has panicked investors in other companies.

Advertisement

Stocks continued to flail about Friday after falling into a correction Thursday. Here's what else is happening:

A BI tech reporter started to mine cryptocurrency and has already made a profit in 2 weeks - it's easier than you think.

This chart shows the rapid growth of MoviePass, which has passed 2 million subscribers - here's when its CEO says it will be profitable. Blossom Capital, a new VC firm raising up to $100 million, has landed 2 major hires from Uber and Deliveroo.

L.L. Bean ended its famous lifetime return policy - and people are freaking out.

Lastly, here are 22 of the most incredible photos from the 2018 Winter Olympics opening ceremony.

Advertisement