Business this week
UK Only Article:
How to deal with Venezuela
It was an eventful week for the European car industry. The British government announced that it would ban the sale of new cars that run only on diesel or petrol by 2040. France made a similar pledge recently. Meanwhile, BMW said it would build its new fully electric version of the Mini in Britain. It had considered other sites in Europe.
A car cartel?
The European Commission confirmed it was looking into allegations that German carmakers colluded to reduce the costs of parts and diesel emission-treatment systems. The commission was responding to a tip-off, and stressed that it was “premature at this stage to speculate”. See article.
GrabTaxi, a ride-hailing firm based in Singapore and operating in seven countries, raised $2.5bn to up its competition with Uber. SoftBank, a Japanese tech giant, and Didi Chuxing, a Chinese version of Uber, provided most of the financing. It was the largest fundraising round for a startup in South-East Asia to date.
Google’s parent company, Alphabet, reported a 28% drop in quarterly ...