1. MOST POWERFUL EARTHQUAKE IN DECADES ROCKS ALBANIA
The strongest earthquake to hit Albania in decades rocked the capital of Tirana early on Tuesday, sending panicked residents rushing into the streets and causing at least one building to collapse in the nearby port town of Durres.
According to the U.S. Geological Survey (USGS), the 6.4 magnitude quake struck shortly before 4 a.m. local time, the second powerful tremor to hit the region in two months.
An earthquake with a magnitude of 5.6 shook the country on Sept. 21st, damaging around 500 houses it was the most powerful quake in Albania in the last 30 years.
2. E-COMMERCE GIANT ALIBABA’S SHARES JUMP 7% IN HONG KONG DEBUT
Chinese e-commerce giant Alibaba’s shares have jumped nearly 7% in their debut on the Hong Kong stock exchange.
This offering of 500 million new shares raised more than $11 billion in Hong Kong’s biggest listing since 2010, a rare boost for the city after months of political unrest.
According to the Hurun Report, Alibaba’s founder, Jack Ma is China’s richest entrepreneur with a net worth of $39 billion.
3. UBER LOSES LICENSE IN LONDON OVER SAFETY, VOWS TO APPEAL
London’s transit authority on Monday refused to renew Uber’s operating license over concerns about impostor drivers, with the ride-hailing company vowing to appeal the decision as it struggles to secure its future in the British capital.
Uber called the decision “extraordinary and wrong,” and has 21 days to file an appeal.
The denial in a lucrative European market is a big setback for the company as it struggles to turn a profit. The company posted a $1.16 billion loss in the latest quarter. Its Chief Executive Officer Dara Khosrowshahi forecast that the company would not make a profit until 2021.