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The Financial Times
Companies and Markets
Uber has suffered another setback after police raided the taxi-booking app’s Hong Kong office and seized computers following a sting operation that led to the arrests of five drivers.
The drivers, who had allegedly accepted fares from undercover police officers, were accused of driving without the required permits and insurance, local media reported.
Halving of price has reshaped industries, hit exporters and buoyed consumers
(The drop has caused problems in oil-exporting companies, caused lay-offs in energy companies along with the scrapping of billion-dollar projects and created difficulties for smaller oil companies)
Supply from rival producers proves more resilient than expected
Saudi Arabia scaled down its oil production from record levels last month but Opec output reached the highest level since 2012.
Commodities from metals to oil fell yesterday after China devalued its currency, renewing concerns about growth in the world’s largest consumer of raw materials.
A drink-driver who killed a boy when he mounted a pavement escaped a charge of causing death by dangerous driving because a police Breathalyser failed to work.
A woman who was trapped under a 16 tonne black cab in London was rescuyed by more than 30 passers-by who rushed to lift it off her.
Trials of Scalextric-style roads will start within weeks as part of a multimillion-pound plan to encourage motorists to drive electric cars.
Tests on practice tracks will begin in the autumn to develop technology that allows electric and hybrid cars to be charged as they are driven. The wireless system involves transferring power from an electric cable buried in the road to a passing car, dramatically boosting the vehicle’s range.
Production of the new Land Rover Defender— the vehicle descended from the original postwar Land Rover— is to be switched to Slovakia, prompting fears that thousands of British workers will have their jobs exported to Eastern Europe.
The Daily Telegraph
Motorists who drive out of their way to find cheaper fuel are wasting their time and money, a study suggests.
Travelling just two miles extra is “pointless” unless the saving is greater than 1p per litre on diesel or petrol, according to research into fuel prices and car efficiency.
Shell is set to restart its hunt for Artic oil, three years after the company’s last ill-fated venture north.