Ottawa injects another $36M into vaccine injury compensation fund
The federal government has added $36.4 million to a program designed to support people who have been seriously injured or killed by vaccines since the end of 2020.
Chinese ride-hailing service Didi says it lost US$5.5 billion over the past three years ahead of its U.S. stock market debut Wednesday but it's highlighting its global reach and investments in developing electric and self-driving cars.
The Beijing-headquartered company operates in 16 countries but almost 90 per cent of the 493 million customers who used the service at least once in the past year are in China.
Didi Global Inc. planned to raise up to US$4 billion by selling 288 million shares on the New York Stock Exchange at US$13-US$14 each. It said 30 per cent will be spent on technology development, another 30 per cent to expand outside China and 20 per cent on new products.
The company founded in 2012 by Will Wei Cheng, a veteran of e-commerce giant Alibaba Group, says it aims to become the "world's largest one-stop transportation platform" and operator of vehicle networks.
"We aspire to become a truly global technology company," said Cheng and president Jean Qing Liu in the prospectus. Liu is a former Goldman Sachs managing director and the daughter of Liu Chuanzhi, founder of computer maker Lenovo Group.
Early investors included Apple Inc., Japan's Softbank, Alibaba and Chinese internet giants, Tencent Holding Ltd. and Baidu Inc.
Didi acquired rival Kuaidi in 2016 and Uber Technologies Inc.'s China operation the following year, ending a battle in which the American company said it was losing US$1 billion a year.
China's populous ride-hailing market has gone through abrupt changes as the ruling Communist Party tries to nurture development of technology while keeping control of promising industries.
Founded as a smartphone-based taxi-hailing service, it launched ride-hailing in 2014 and expanded abroad in 2018 by acquiring Brazil's 99 Taxis and setting up operations in Mexico.
In 2015-16, regulators tightened control in what state media said was an effort to curb traffic congestion and prevent crime linked to ride-hailing services. Drivers were required to be residents of cities and towns where they worked and to be more closely supervised.
Didi has plowed money into development of self-driving, electric vehicles and other technology. The company launched an electric car last year with Chinese automaker BYD Auto, a unit of BYD Ltd.
Didi lost 15 billion yuan (US$2.3 billion) in 2018, 9.7 billion yuan (US$1.5 billion) in 2019 and 10.6 billion yuan (US$1.6 billion) last year, according to its prospectus. It says Didi had US$3 billion in cash as of Dec. 31.
The federal government has added $36.4 million to a program designed to support people who have been seriously injured or killed by vaccines since the end of 2020.
B.C.’s premier and one of his top lieutenants are pushing back against allegations by the Official Opposition that he covertly commissioned a report into the diversion of safe supply drugs onto the streets.
Arrests have been made after five men were captured on video rampaging through a jewelry store in Toronto, waving weapons and smashing glass display cases.
A Winnipeg man said a single date gone wrong led to years of criminal harassment, false arrests, stress and depression.
Doctors have transplanted a pig kidney into a New Jersey woman who was near death, part of a dramatic pair of surgeries that also stabilized her failing heart.
A new poll suggests the Liberals have not won over voters with their latest budget, though there is broad support for their plan to build millions of homes.
Appointing a trusted person to help with financial obligations can give you peace of mind. In his personal finance column for CTVNews.ca, Christopher Liew outlines the key benefits of naming a confidant to take over your financial responsibilities, if the need ever arises.
A Toronto couple are speaking out about their 'extremely dangerous' experience on board a sinking tour boat in the Dominican Republic last week.
Students at a high school in York Region have been awarded perfect marks on their midterm exams in three subjects – not because of their academic performances however, but because they had no teacher.
A property tax bill is perplexing a small townhouse community in Fergus, Ont.
When identical twin sisters Kim and Michelle Krezonoski were invited to compete against some of the world’s most elite female runners at last week’s Boston Marathon, they were in disbelief.
The giant stone statues guarding the Lions Gate Bridge have been dressed in custom Vancouver Canucks jerseys as the NHL playoffs get underway.
A local Oilers fan is hoping to see his team cut through the postseason, so he can cut his hair.
A family from Laval, Que. is looking for answers... and their father's body. He died on vacation in Cuba and authorities sent someone else's body back to Canada.
A former educational assistant is calling attention to the rising violence in Alberta's classrooms.
The federal government says its plan to increase taxes on capital gains is aimed at wealthy Canadians to achieve “tax fairness.”
At 6'8" and 350 pounds, there is nothing typical about UBC offensive lineman Giovanni Manu, who was born in Tonga and went to high school in Pitt Meadows.
Kevin the cat has been reunited with his family after enduring a harrowing three-day ordeal while lost at Toronto Pearson International Airport earlier this week.