Must Read Money Stories For Tuesday, June 9

by June 9, 2015


Uber in China. The American company is investing heavily in China, hoping to break into an already crowded ride-hailing market, the New York Times reports. Uber is even offering its Chinese drivers bonuses on top of the fares they already collect. Though it’s becoming popular with China’s affluent, the app is drawing tough scrutiny from local officials across the country.

$607. That’s how much money United Passions, a $30 million film about FIFA and funded in large by FIFA, grossed in its U.S. debut last weekend, according to the Hollywood Reporter. If you’ve been following the latest news surrounding soccer’s international governing body, you probably aren’t surprised by that low number. But, then again, who in the U.S. would have gone to see the movie even if the Department of Justice hadn’t just indicted 14 FIFA officials? (Hint: Mainly journalists.)

Read the News. Apple has a new news-reading app called News. It loosely resembles Flipboard, an app that creates a digital magazine for its users, and it will allow publishers to sell advertising within the new service, Bloomberg writes. Consequently, Apple is getting rid of its old news-reading application, Newsstand, to make room for its new venture.

StuffFeed? That was one of the names the Onion considered when it was creating ClickHole, a site that satirizes viral news organizations like BuzzFeed. Slate profiled ClickHole on Monday and it’s must-read for fans of the site’s hilarious and sometimes head-scratching content. (Example: 7 Photos From ISIS We Still Owe Them Royalty Payments For.)

Enjoy your freedom while it lasts. Two inmates escaped from a prison in upstate New York last weekend in a Shawshank Redemption-like scheme. According to FiveThirtyEight, their chances of remaining free aren’t very high.