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"Lyft is fueling talk that it’s for sale. The No. 2 ride-sharing service — which lags Uber in both market share and fundraising — has hired a boutique investment bank that specializes in selling tech companies, the Wall Street Journal reported late Monday. Qatalyst founder and Chairman Frank Quatrrone has been reaching out to large automakers and others about investing in Lyft, according to the Journal, adding that it’s unclear if Lyft is also looking to sell itself or just raise cash. If Lyft is headed for the auction block, General Motors is a logical buyer, the paper said. The car company invested $500 million in Lyft in January and laid out plans to develop an on-demand network of self-driving cars with the ride service. Lyft declined to comment and Qatalyst could not be reached for comment. Lyft is guzzling cash as it spends heavily to gain market share against its bigger rival. Last month, the service slashed fares for passengers by 50", nypost.com
"From Yahoo Finance: Investors around the globe may have had enough of the post-Brexit selloff. Asian, European, and U.S. futures are bouncing back after two dismal trading sessions. Also, the biggest tech IPO of the year is getting set to hit Wall Street. We'll tell you what you need to know about Line Corp before it debuts. Plus, Airbnb is suing its hometown of San Francisco over a law it helped draft! Those stories and more straight ahead.", finance.yahoo.com
"Ride-sharing service Lyft has hired investment bank Qatalyst Partners, the Wall Street Journal reported on Monday, citing people familiar with the matter. Qatalyst Chairman Frank Quattrone has contacted companies including large automakers about acquiring a stake in Lyft, the Journal said, citing the people. (http://on.wsj.com/299KrRF)", www.todayonline.com
"Former billionaire Sam Wyly and the estate of his late brother Charles owe the Internal Revenue Service a total of $1.1 billion for using a web of offshore funds to hide assets as the men got rich building companies including the arts-and-craft chain Michaels Stores Inc.", www.bloomberg.com
"U.K. Prime Minister David Cameron is set to face his fellow European Union leaders for the first time since triggering a political earthquake that’s shaken the bloc’s foundations. Back in London, the race to succeed him is heating up.", www.bloomberg.com
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