Uber and Lyft to turn the wheels on car ownership: industry experts






TORONTO (Reuters) - Ride-hailing apps like those of Uber Technologies and Lyft Inc are expected to alter the state of car ownership towards subscription-based services and shared ownership, auto industry experts said at a conference on Wednesday.

At the annual Collision Conference in Toronto, speakers said ride-hailing apps are also set to play a role in testing automation for safety.

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U.S. lawmakers want to help rural telecoms replace Huawei, ZTE equipment






WASHINGTON (Reuters) - A bipartisan group of U.S. lawmakers introduced legislation on Wednesday to provide about $700 million in grants to help U.S. telecommunications providers with the cost of removing Huawei equipment from their networks.

The bill also moves to block the use of equipment or services from Chinese telecoms firms Huawei and ZTE in next-generation 5G networks, according to a statement by the senators.

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U.S. judge says Qualcomm violated antitrust law; appeal planned, shares plunge






(Reuters) - Qualcomm Inc illegally suppressed competition in the market for smartphone chips by threatening to cut off supplies and extracting excessive licensing fees, a U.S. judge ruled, a decision that could force the company to overhaul its business practices.

The decision issued late Tuesday night by U.S. District Judge Lucy Koh in San Jose, California, caused Qualcomm shares to plunge 11 percent on Wednesday.

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T-Mobile-Sprint deal would boost prices, hurt poorest U.S. consumers, experts say






WASHINGTON/NEW YORK (Reuters) - Concessions by T-Mobile US Inc to win U.S. government approval to buy Sprint Corp will likely lead to higher prices for the poorest Americans, many of whom use prepaid wireless plans, analysts and activists said.

The more expensive prepaid plans, used by people who lack the good credit to qualify for a cheaper postpaid plan means low-income users will have less access to the internet for job hunts and job applications, and for children to do homework, activists say. With postpaid, people pay with credit cards or monthly bank withdrawals.

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Honda recalls 137,000 SUVs for sudden air bag deployments






WASHINGTON (Reuters) - Honda Motor Co said on Wednesday it is recalling 137,000 new sport utility vehicles (SUVs) following reports of three injuries tied to sudden air bag deployments in the United States.

The Japanese-based automaker said it is recalling the 2019 CR-V to replace steering wheel wire harnesses and supplemental restraint system cable reels after six unexpected driver air bag deployments that occurred without a crash. There are so far no reports of related crashes, the automaker said.

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Asia shares sink to four-month low, yen a safe harbor






SYDNEY (Reuters) - Asian shares carved out a four-month trough on Thursday amid worries the Sino-U.S. trade conflict was fast morphing into a technology cold war between the world’s two largest economies.

Late Wednesday, Reuters reported the U.S. administration was considering Huawei-like sanctions on Chinese video surveillance firm Hikvision over the country’s treatment of its Uighur Muslim minority, according to a person briefed on the matter.

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Uber to open third Latin America support center in Bogota






BOGOTA (Reuters) - Ride-hailing app Uber will spend $40 million over five years to open its third support center in Latin America in September in the Colombian capital Bogota, the company said on Wednesday.

The center, which Uber said in a statement will eventually create 600 jobs, will “give specialized support in services and security to users, partner drivers and partner deliverers for the applications Uber and Uber Eats in Latin America.”

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U.S. judge appoints Ken Feinberg mediator for Bayer Roundup settlement talks






(Reuters) - A U.S. judge on Wednesday appointed prominent attorney Kenneth Feinberg as mediator for court-mandated settlement talks in the federal litigation over allegations that Bayer AG’s glyphosate-based Roundup weed killer caused cancer.

Feinberg has been instructed to meet with lawyers for Bayer and plaintiffs within the next 14 days, U.S. District Judge Vince Chhabria in San Francisco said during a court hearing on Wednesday.

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GM faces pushback on U.S. self-driving vehicle plan






(Reuters) - General Motors Co faces pushback over its request that U.S. regulators waive some automobile safety standards to make it possible to deploy a ride-sharing fleet of driverless cars without steering wheels or other human controls.

GM first made the request for a two-year temporary waiver on features like mirrors, dashboard warning lights and turn signals designed for a human driver in a petition filed with the National Highway Traffic Safety Administration (NHTSA) in January 2018.

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Tesla drops for sixth straight session, down 20% since share offer






SAN FRANCISCO (Reuters) - Tesla shares extended their recent sell-off on Wednesday after Citi cut its price target on the struggling electric car maker, leaving buyers of its recent share offer, including Chief Executive Elon Musk, $175 million in the hole.

Tesla’s stock dropped 5.5% to $193.88, on track to close below $200 for the first time since late 2016. It has lost a fifth of its value since the company sold a $1.84 billion convertible bond and almost $900 million of stock on May 2 to raise fresh capital and give it more time to stop losing money.

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