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Weekly News Roundup

Uber's Fight to Win China

Senior Entrepreneurship Writer at CNBC
4 min read

Looking to keep on top of the latest headlines in small business, innovation and tech? Check out our Weekly News recaps posted every Friday morning -- a quick summary designed to keep you current.

Uber’s pushing hard to win China’s ridesharing market. This week, Uber’s Chinese arm announced a $2 billion funding round valuing the unit at $7 billion. But despite these efforts, its biggest rival in that country, the ridesharing giant Didi Kuaidi, is proving to be brutal competition.

Jack Dorsey’s been hustling hard, rolling out multiple product updates. Still, not all investors are impressed. Shares traded at record lows this week, a fraction of their height from just two years ago when the microblogging company went public.

As virtual reality moves more into the mainstream this year, Google won’t be left behind. This week, the company tapped an internal executive to head up its VR unit. Also this week, Google announced a special improvement to its Cardboard platform, according to a report from The Verge.

And, finally, if you’d ever wondered if asteroids or comets were about to smash the Planet Earth to smithereens, rest easy. NASA’s new Planetary Defense Coordination Office has a plan to give you peace of mind. Our own Nina Zipkin has more.

Related: What's Behind the FAA's New Drone Rules

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