Afternoon Coffee: Uber Cedes Southeast Asia to Grab, Amazon Granted Patent for Drone that can Respond to Screams

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Uber marked its second retreat from Asia over the weekend with the sale of its Southeast Asia business to Grab, Quartz writes. The San Francisco-based rideshare company will retain a 27% stake in Singapore-based Grab. More broadly, however, Uber seems to be shifting its focus away from aggressive international expansion to doubling-down on core markets.

Drone Awareness 

Amazon has been issued a patent for a delivery drone that can respond to human gestures such as shouting or waving one’s arms, the Washington Post reports. The capability will help a drone adjust its behavior to customer signals, such as when to release the package it's carrying or whether to alter its flight path to avoid a crash.

Fed Index 

The Chicago Federal Reserve reported strong economic growth in February driven by a big recovery in factories, according to MarketWatch. The Fed’s index of national economic activity reached a positive 0.88 last month, up from a positive 0.02 in January.

Durable Goods

And finally, a manufacturing update. New orders for key U.S.-made capital goods rebounded more than expected in February after two straight monthly declines, CNBC reports. Overall orders for durable goods jumped 3.1%, with demand for transportation equipment leaping 7.1%.

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