Uber admits defeat again, this time in Russia

Last August, Uber was forced to retreat from China after inking a deal with ride-sharing rival Didi Chuxing, while taking a 17.5% stake in the company. It looks like the same recipe for success will be now applied in Russia, where Uber and Yandex have agreed to a similar arrangement, although this time around Uber isn't leaving this huge market. Uber and Yandex decided to merge their operations in the country, as per Bloomberg. Uber will invest $225 million in the new company, which will operate...