China has set up a 20 billion yuan ($3.25 billion) investment fund to help bolster its fast-growing civil aviation industry, local media said on Monday.
Transportation
Lear Corp to buy leather supplier Eagle Ottawa for $850 million
Lear Corp, a maker of auto seats and electrical power systems, said it would buy automotive leather supplier Eagle Ottawa LLC for $850 million to strengthen its core seating business and boost its luxury seats portfolio.
Berlin bans car service Uber
Berlin has banned car service Uber, which allows users to summon a ride on their smartphone, for not offering drivers and vehicles licensed to carry passengers, or full insurance cover, the German capital said.
Suzuki recalls sedans in U.S. as spider webs block gas vents
Spiders drawn to gasoline vapors and weaving webs that block a hose to vent those vapors have caused Suzuki Motor of America to recall about 19,000 Kizashi mid-size sedans from model years 2010 to 2013, U.S. regulators said on Wednesday.
GM ignition-switch fund receives claims for more than 100 deaths
A program to compensate victims of crashes linked to a faulty ignition switch in General Motors vehicles has received claims for 107 deaths as of Tuesday, according to a spokeswoman for the lawyer overseeing the program.
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Ride-sharing app platform company Uber announced on Tuesday the appointment of David Plouffe as its new Senior Vice President of Policy and Strategy. Plouffe is a political strategist best known as Barack Obama’s campaign manager in 2008. He also served the White House as Assistant to the President and Senior Advisor from 2011-2013.
Egypt plans to build a new Suez Canal alongside the existing 145-year-old historic waterway in a multi-billion dollar project aimed at expanding trade along the fastest shipping route between Europe and Asia.
Commuters faced a day of traffic chaos in London, Berlin, Paris and Madrid on Wednesday as taxi drivers mounted one of the biggest protests against Uber, a U.S. car service which allows people to summon rides at the touch of a button.
Canada, following the lead of the United States and the European Union, on Monday relaxed official restrictions on using mobile devices in flight while maintaining a ban on transmitting information.
Google Inc's self-driving car technology likely will not be available for several more years. But the Internet company is already beginning the job of making the public comfortable with the futuristic vehicles.
Sunday Kenya made an agreement with China to finance 90% of the 609.3 kilometer railway project in Nairobi with cost estimate of SH 327 billion or $3.8 billion.
Radio Taxi, aka Taxio, officially launched last night by the State Transport Minister Thiruvanchoor Radhakrishnan in Fort Kochi, India.The 7 member team startup was founded earlier this year in January.
Paris-l’hospital, France-based car rental startup Drivy secured $8.3 million (€6 million) in a new funding round with Index Ventures and Alven Capital as lead investors to fuel its expansion in Europe.
New York, US-based taxi service Yellow Cab bought its younger rival Rochester Taxi Co, which is owned by Roba Bati, for an undisclosed amount in a deal that will bring the latter under the Best Ride brand later on.
