Uber is going to stop spending billions in China to compete with Didi Chuxing and will merge its China operations with its chief rival. Uber's concession will give it a 20 percent stake in Didi, which is now valued at $35 billion. Even more important: The deal will placate investors worried that China was going to be a financial black hole for Uber.
[Kara Swisher | Recode]
A post-DNC convention poll conducted by CBS gives Hillary Clinton a 46 percent to 39 percent lead over Donald Trump. CBS had them in a dead heat last week after the RNC convention.
[Sarah Dutton | CBS]
Tesla and Elon Musk are going ahead with their plan to buy SolarCity, the Musk-backed solar company. The all-stock deal, first proposed in June, values SolarCity at $2.6 billion.
[Johana Bhuiyan | Recode]
On the new episode of Recode Decode, Kara Swisher talks Yahoo-Verizon with activist investor Eric Jackson, who has long been bearish on Marissa Mayer's tenure at Yahoo. Together, the two talk about what went wrong at the one-time giant, and why the company's story may not yet be over.
[Eric Johnson | Recode]
Joshua Topolsky, co-founder of Vox Media site The Verge, has raised $5 million to launch The Outline, a new digital media publication. Topolsky's backers include RRE Ventures, which has also invested in BuzzFeed and Business Insider.
[Mike Shields | The Wall Street Journal]
This article originally appeared on Recode.net.