Sao Paulo judge rules Uber drivers are employees, deserve benefits
SAO PAULO (Reuters) – A judge in Brazil’s biggest city ruled this week that a driver using the Uber [UBER.UL] ride-hailing app is an employee of the San-Francisco-based company, threatening its business model in one of its biggest markets.
Abbott agrees to buy Alere at lower price from earlier offer
(Reuters) – Diversified healthcare company Abbott Laboratories on Friday agreed to buy Alere Inc at a lower price than it had previously offered, after raising concerns about the accuracy of various representations, warranties and covenants made by A…
Apple receives permit in California to test self-driving cars: DMV
(Reuters) – Apple Inc has secured a permit to test autonomous vehicles in California, fuelling speculation that it is working on self-driving car technology in a crowded arena of companies hoping to offer those cars to the masses.
VW says has bought, fixed more than half of polluting 2.0-liter diesels in U.S.
WASHINGTON (Reuters) – Volkswagen AG said on Friday the company has bought back or repaired more than half of 475,000 polluting 2.0-liter diesel vehicles under a U.S. government settlement, just six months after it launched the largest-ever automotive …
Takata rescue talks extended, even as bankruptcy risk looms
TOKYO (Reuters) – Potential rescuers of Japan’s Takata Corp have extended talks, already in their 14th month, for a deal to take over the air bag maker at the heart of the auto industry’s biggest safety recall, people briefed on the process said.
SEC freezes brokerage accounts behind alleged insider trading
WASHINGTON (Reuters) – The Securities and Exchange Commission said on Friday it had frozen assets in two brokerage accounts used last week to reap more than $1 million in alleged insider trading profits in connection with a merger announcement by Liber…
Fiat Chrysler CEO rows back on merger search, says focused on plan
AMSTERDAM (Reuters) – Fiat Chrysler Chief Executive Sergio Marchionne rowed back on his search for a merger on Friday, saying the car maker was not in a position to seek deals for now and would focus instead on following its business plan.
U.S. retail sales, inflation data highlight weak first quarter growth
WASHINGTON (Reuters) – U.S. retail sales fell for a second straight month in March and consumer prices dropped for the first time in just over a year, underscoring the magnitude of the loss of economic growth momentum in the first quarter.
Toshiba creditors likely to approve chip unit collateral for $9.2 billion finance: sources
TOKYO (Reuters) – Japan’s Toshiba Corp is likely to win creditors’ approval for offering its prized memory chip business stake as collateral for new loans and loan commitments worth around 1 trillion yen ($9.2 billion), sources briefed about the matter…
Fiat Chrysler CEO says first-quarter 2017 was difficult, doesn’t change targets
AMSTERDAM (Reuters) – The first quarter of 2017 was “difficult” for carmaker Fiat Chrysler but this will not affect the company’s targets for this year and next, Chief Executive Sergio Marchionne said on Friday.
