Author: Ritters US Newsfeed

Uber CEO sees commercialisation of flying taxis in 5-10 years

TOKYO (Reuters) – Uber Technologies Inc Chief Executive Officer Dara Khosrowshahi said on Tuesday he can see commercialization of the Uber Air flying taxi service happening within five to 10 years. The U.S. ride-hailing app maker has said it expects flying vehicles to eventually become an affordable method of mass transportation. Khosrowshahi was speaking at… Continue reading Uber CEO sees commercialisation of flying taxis in 5-10 years

Exclusive: GM offers $2.2 billion debt for equity swap in return for Seoul’s support – sources

SEOUL (Reuters) – General Motors (GM.N) has offered to convert debt of around $2.2 billion owed by its ailing South Korean operation into equity in exchange for financial support and tax benefits from Seoul, four sources with direct knowledge of the matter said. The restructuring proposal comes after the Detroit automaker announced last week that… Continue reading Exclusive: GM offers $2.2 billion debt for equity swap in return for Seoul’s support – sources

UPDATE 2-Japan’s Sony to form alliance to build taxi-hailing system

TOKYO (Reuters) – Sony Corp said on Tuesday it would become the latest blue-chip firm to jockey for position in Japan’s taxi and ride-hailing market, with plans for a joint venture to develop an artificial intelligence-based hailing system. Japan is seen as a potentially lucrative ride-hailing market, with regulators under pressure to ease stringent rules.… Continue reading UPDATE 2-Japan’s Sony to form alliance to build taxi-hailing system

Careem acquires Middle East online restaurant listing platform, to trial food delivery

DUBAI (Reuters) – Careem, a Middle East competitor to Uber Technologies [UBER.UL], said on Sunday it had acquired RoundMenu and would start trialing food delivery services through the restaurant listing and reservation online platform this month. The Dubai-based ride hailing firm acquired the website and app for an undisclosed sum. “Careem will begin testing a… Continue reading Careem acquires Middle East online restaurant listing platform, to trial food delivery

BRIEF-FCA US Recalls About 180,975 Trucks In The U.S. – NHTSA

Feb 16 (Reuters) – NHTSA: * FCA US LLC VOLUNTARILY RECALLING ABOUT 180,975 TRUCKS IN THE U.S. – NHTSA * FCA US RECALLING TRUCKS IN U.S. TO HELP PREVENT OCCUPANTS FROM INADVERTENTLY SHIFTING VEHICLES OUT OF “PARK” – NHTSA * FCA US LLC UNAWARE OF ANY INJURIES OR ACCIDENTS RELATED TO U.S. TRUCK RECALL –… Continue reading BRIEF-FCA US Recalls About 180,975 Trucks In The U.S. – NHTSA

Lost in translation? GM plant shutdown shocks South Korea

SEOUL (Reuters) – Only weeks into a new job heading General Motors Co’s international operations, Barry Engle flew into a frigid South Korea in January and held a series of meetings with government officials to discuss the future of GM’s loss-making local unit. In what they thought were meet-and-greet introductions, senior officials agreed to work… Continue reading Lost in translation? GM plant shutdown shocks South Korea

Automakers to provide up to $130 million for Takata’s U.S. settlement

WILMINGTON, Del. (Reuters) – A group of 13 automakers will contribute as much as $130 million to compensate those injured by faulty Takata Corp (TKTDQ.PK) air bag inflators as part of a deal to resolve the Japanese company’s bankruptcy, a U.S. plaintiffs’ attorney told Reuters. The agreement clears the way for the sale of Takata’s… Continue reading Automakers to provide up to $130 million for Takata’s U.S. settlement

GM to shut one South Korea plant, decide on fate of others within weeks

DETROIT/SEOUL (Reuters) – General Motors Co said it will close one of its four plants in South Korea and incur an $850 million impairment charge as part of a restructuring of its money-losing business in Asia’s fourth-biggest economy. The U.S. automaker said it would decide the future of its remaining South Korean operations within weeks,… Continue reading GM to shut one South Korea plant, decide on fate of others within weeks

UPDATE 1-Ford expands ‘Do Not Drive’ warning to 33,000 more pickup trucks

WASHINGTON (Reuters) – Ford Motor Co (F.N) on Monday warned an additional 33,000 owners of older pickup trucks in North America to stop driving them until potentially defective Takata Corp (TKTDQ.PK) air bag inflators can be repaired. Ford told 2,900 owners of 2006 model year Ford Ranger trucks in January to stop driving immediately after… Continue reading UPDATE 1-Ford expands ‘Do Not Drive’ warning to 33,000 more pickup trucks