Germany to support three battery cell alliances: economy minister






BERLIN (Reuters) - Germany will award to three consortiums 1 billion euros ($1.12 billion) in funding it earmarked last year to support domestic battery cell production, Economy Minister Peter Altmaier told Reuters, part of a bid to cut carmakers’ reliance on Asian supply.

Securing a regional supply chain for electric vehicles (EVs) would help Germany achieve European Union goals to lower carbon emissions and cut fossil fuel consumption.

Read more

BoE's Carney says keeping open mind on Facebook's Libra






SINTRA, Portugal (Reuters) - Bank of England governor Mark Carney has said he is keeping an ‘open mind’ on the potential utility of Facebook’s planned cryptocurrency, but warned it may face strict regulation if it takes off.

“Anything that works in this world, will become instantly systemic and will have to be subject to the highest standards of regulations,” he said at a conference organized by the European Central Bank in Portugal.

Read more

Lyft, Agero partner to offer rides for consumers requiring tow assistance






(Reuters) - Roadside assistance provider Agero Inc said on Tuesday it would partner with ride hailing company Lyft Inc to provide rides for consumers whose cars are disabled and require a tow assistance.

The service will provide consumers, whose vehicles require a tow, a complimentary Lyft ride from their breakdown site to their destination, the company said here in a statement.

Read more

World electronic gaming revenues to grow 9.6% to $152.1 billion in 2019: report






NEW YORK (Reuters) - The global video and electronic games market will generate $152.1 billion in 2019, up 9.6% over last year as gaming morphs into content and communication, according to a report by gaming analytics firm Newzoo on Tuesday.

It is “the complete convergence of different forms of digital entertainment all coming together,” Peter Warman, chief executive of the Netherlands-based firm, told Reuters in a phone interview.

Read more

Uber threatens to withdraw from Austria






VIENNA (Reuters) - U.S.-based ride-hailing service Uber Technologies Inc threatened on Tuesday to withdraw from Austria if a new law that would subject it to the same price regulations as taxis is adopted.

“If that comes, then a withdrawal definitely cannot be ruled out,” Uber Austria chief Martin Essl told ORF radio. “We probably cannot continue with this backward-looking amendment.”

Read more

Volkswagen aims to boost in-house software development to 60% by 2025






BERLIN (Reuters) - Volkswagen said on Tuesday it would put 5,000 digital experts into a new unit called “Car.Software” by 2025 as the German carmaker aims to develop at least 60% of its software in-house by then, up from less than 10% currently.

Volkswagen said all of its new models would use the same software platform - consisting of its vehicle operating system known as “vw.os” and the Volkswagen Automotive Cloud - by 2025.

Read more

Alibaba puts CFO in charge of investment in major management reshuffle






BEIJING/SHANGHAI (Reuters) - China’s Alibaba Group Holding Ltd on Tuesday unveiled its most significant business reshuffle since co-founder Jack Ma announced his pending retirement, as the e-commerce firm looks to bolster its investment focus in the face of slowing growth.

Chief Financial Officer Maggie Wu will oversee Alibaba’s strategic investments unit, taking over that responsibility from Executive Vice-Chairman Joe Tsai who will support Wu in her expanded role, the firm said on its official WeChat account.

Read more