Daimler and BMW plan $1.1b Uber battle

Frankfurt, Munich. Daimler AG and BMW AG will invest more than 1 billion euros ($1.13 billion) to expand their merged car-sharing and ride-hailing operations to take on the likes of Uber Technologies Inc. and Lyft Inc. The investment by the two biggest luxury carmakers, who agreed to join their mobility offerings nearly a year ago, […]

Etisalat, Huawei complete testing of First Single-Wavelength 600G Trial Site

ABU DHABI The UAE telecom operator Etisalat recently announced that it collaborated with Huawei to complete the industry’s first testing of a single-wavelength 600G trial site. This trial promotes commercialisation of single-wavelength 600G technology, with great commercial application value. With emergence of new technologies and services such as cloud computing, big data, Internet of Things […]

Philippine central bank stays hawkish on policy

Manila. The Philippines central bank remains guarded on monetary policy and is keeping a hawkish bias, Deputy Governor Diwa Guinigundo said Friday, indicating it’s not ready to cut interest rates just yet. “We are more on the hawkish side in the sense that we recognise the risks on the market,” he said in an interview […]

Tesla Model 3 can no longer be recommended, says Consumer Reports

Los Angeles Tesla’s stock price sank Thursday after Consumer Reports blasted the reliability of the company’s new Model 3 sedan and dropped it from a list of recommended vehicles. “Consumers expect their cars to last — and not be in the repair shop. That’s why reliability is so important,” said Jake Fisher, senior director of […]

EU ready to target Caterpillar, Xerox if Trump hits cars, source says

Bucharest Caterpillar Inc trucks, Xerox Corp machines and Samsonite International SA luggage are among US goods that would face retaliatory European Union tariffs should President Donald Trump follow through on a threat to impose automotive duties against the bloc, according to a senior EU official. The person commented on Friday on the condition of anonymity […]

Barclays’ Grimstone steps down after 3 years in senior roles

London. Gerry Grimstone, one of Barclays PLC’s most senior bankers, said he is leaving the British firm after three years. “I will be concentrating on my public sector activities in the UK, my work with Deloitte in Europe and globally, my work in the Gulf, India, China and elsewhere in Asia-Pacific,” Grimstone said in a […]