‘Moment of jeopardy’: City leaders issue rallying cry to safeguard London’s future as top financial hub
Daimler and Volvo-owner Geely to build a luxury Uber rival in China October 24, 2018 Chinese carmaking group Geely has partnered with German manufacturer Daimler to form a joint venture that will see the two firms launch a premium ride-hailing service in China. The deal will create a new rival to local firm Didi Chuxing, which dominates the market with 217m users last year after merging with Uber China in 2016. [...]
Londoners to fund Uber’s £200m plan for cars to go fully electric by 2025 October 23, 2018 All Uber cars driving in London will be fully electric by 2025 under the firm's new clean air plan for the capital, funded by its citizens through a fares hike. From early next year, a so-called clean air fee will be added to every Uber ride at 15p per mile, which will then be funnelled [...]
Uber to appeal Singaporean competition watchdog decision on Grab merger October 22, 2018 Uber has said it will appeal a decision made by the competition watchdog in Singapore on its merger with local ride-hailing rival Grab. The Competition and Consumer Commission of Singapore (CCCS) last month imposed fines of 6.42m Singaporean dollars (£3.6m) on Grab and 6.58m Singaporean dollars on Uber, in addition to business restrictions, after concluding that their [...]
Addison Lee signs strategic deal with driverless startup Oxbotica for London revolution October 22, 2018 Private hire firm Addison Lee has signed a strategic partnership with UK software startup Oxbotica to bring self-driving car services to Londoners by 2021. Addison Lee said the two firms will collaborate on technological development, deployment and operation of self-driving cars to first provide affordable ride-sharing taxi services in the capital. In the long term, it [...]
ABB chairman breaks away from Saudi mega-city project amid Khashoggi case October 21, 2018 Former Shell chief executive and chairman of Swiss engineering firm ABB Peter Voser is the latest high-profile figure to distance himself from the advisory board of Saudi Arabia's $500bn £382.5bn) mega-city project Neom. The move follows the exit of a string of global business and political leaders from an upcoming investment conference in Riyadh. International ties to the region have been breaking [...]
Morgan Stanley banker moonlights as an Uber driver to win top role in upcoming IPO October 18, 2018 A top banker at Morgan Stanley has reportedly been moonlighting as an Uber driver outside of working hours, in a bid to win the deal to take the ride-hailing firm public in 2019. Michael Grimes, a technology banker in the US for Morgan Stanley, has been running the job on the side for several years despite [...]
Pilfered pens and fudged expenses could foreshadow an ethics scandal October 18, 2018 Are UK employees the least ethical in Europe? The Institute of Business Ethics’ 2018 Ethics at Work Survey seems to indicate so. Brits appear to take a more lenient approach than the average European employee to questionable workplace practices. We asked employees about their attitudes to ethical issues in the workplace, ethical practices in their [...]
Uber considers minority stake sell-off for self-driving unit October 17, 2018 Uber is reportedly considering multiple offers for minority shareholdings in its self-driving unit, as the company attempts to resolve any high-cost ventures before it goes public next year. Sources told the Financial Times that Uber had received interest from several investors looking to buy a minority stake in its Advanced Technologies Group (ATG), which could see [...]
Lyft onboards JP Morgan, Credit Suisse and Jefferies to lead its IPO October 17, 2018 US ride-hailing firm Lyft has hired JP Morgan, Credit Suisse and Jefferies as underwriters for its upcoming initial public offering (IPO), slated for an early 2019 debut. A source familiar with the matter told Reuters late last night that the three banks have been brought on board to lead the listing, after Morgan Stanley and Goldman [...]
Uber launches new UK safety features as employment appeal looms October 17, 2018 Ride-hailing firm Uber has today launched a slate of new safety features in the UK and 23 other European countries, as it heads towards a court of appeal hearing regarding workers' rights at the end of the month. The Uber app will now house a safety centre from which passengers and drivers can share their trip details [...]