Ofo cycle hire firm pulls out of London

At its peak the Chinese bike-sharing startup had 6,000 bikes in several English cities

The Chinese bike-sharing firm Ofo, known for its yellow bikes that users can leave in the street, is pulling out of London.

Alibaba-backed Ofo, which is reportedly teetering on the brink of bankruptcy, had already withdrawn from Norwich, Sheffield and Oxford to focus on London, after facing problems with take-up and vandalism.