U.S. to formally seek extradition of Huawei executive Meng Wanzhou: Globe And Mail

The United States has informed the Canadian government that it plans to proceed with a formal request to extradite Huawei Chief Financial Officer Meng Wanzhou on allegations violation of U.S. sanctions against Iran, the Globe and Mail reported on Monday.

Two killed as plane crashes near homes in Ohio: media

Two pilots were killed and four passengers injured when their plane crashed shortly after takeoff on Monday in northeastern Ohio, clipping power lines and almost crashing into homes in snow-covered Apple Creek, U.S. media reported, citing officials.

Body of slain journalist found in northwest Mexico

The body of a slain journalist was found in northwestern Mexico, authorities said on Monday, adding to a long list of reporters who have fallen victim to record levels of violence in the country.

After raising $125M, Munchery fails to deliver

On-demand food delivery startup Munchery is ceasing operations effective immediately, the startup announced in an e-mail to customers on Monday.

Founded in 2010, the San Francisco-based business had raised a total of $125 million in venture capital funding, reaching a valuation of $300 million with an $87 million round in 2015, according to PitchBook. Munchery was backed by Greycroft, ACME Ventures (formerly known as Sherpa Capital), Menlo Ventures, e.Ventures, Cota Capital, M13 and more.

“Since 2010, we have been committed to bringing fresh, local, and delicious meals into your homes along with all our customers across the country,” the company wrote in today’s e-mail announcement. “We’ve been delighted to work with world-renowned chefs, experiment with diverse and unique ingredients and recipes, and be a part of your holiday feasts and traditions. We have also enjoyed giving back to our community through meal donations, volunteer service, and so much more.”

The news comes as little surprise considering Munchery laid off 257 employees, or 30 percent of its workforce, in May after shutting down its Seattle, Los Angeles and New York operations. At the time, the company said it planned to double down on its biggest market, San Francisco, which would help it “achieve profitability on the near term, and build a long-term, sustainable business.”

Munchery, however, failed to deliver on those promises. On top of the 2018 layoffs, Munchery for years struggled to navigate the challenging plains of on-demand food delivery. To stay afloat, the startup shape-shifted quite a bit from originally launching as a ready-to-eat meal delivery service to delivering meal-kits to creating an $8.95 a month subscription plan for repeat customers and finally, opening up a shop inside a San Francisco BART station in a bid to win over the commuter crowd.

Munchery is just the latest in a line of food delivery startups to shutter. Doughbies, an on-demand cookie delivery business, closed its doors in 2018. Sprig, Maple and Josephine are amongst the others to falter under the pressure of a crowded market.

Asian shares, U.S. stock futures dented by growth worries

Asian shares and U.S. stock futures slipped on Tuesday as pessimism about world growth drove investors away from risky assets, while sterling dithered as the latest plan for Brexit appeared to come and go with no progress.

Oil prices edge down as global growth worries threaten demand

Oil prices edged lower on Tuesday as concerns over global economic growth stoked fears over future demand.