News highlights for 9 October
REUTERS/Dado Ruvic/Illustration
Facebook generates a tax credit, quotes ‘efficient tax structure’
LONDON (Reuters) – Facebook said its main UK subsidiary generated an 11-million-pound tax credit in 2015 even as revenues soared, thanks to its tax efficient structure, accounts published on the weekend showed. Read more…
Bollore raises stake in Vivendi
PARIS (Reuters) – French tycoon Vincent Bollore said on Monday that his investment company had raised its stake in Vivendi to above 20 percent, further tightening his hold on the French media group. Read more…
About turn: Musk says he won’t need to raise money for SolarCity buy
(Reuters) – Tesla Motors Inc Chief Executive Elon Musk on Sunday said the company would not need to raise equity or corporate debt in the fourth quarter for its planned acquisition of SolarCity Corp, contradicting a filing the company made with regulators last week. Read more…
Robots blamed for pound’s flash crash
Algorithms have been blamed for a flash crash that wiped nearly 10 per cent off the value of sterling on Friday morning. The pound slumped to $1.18 as Asian markets opened from $1.26 the day before, falling briefly to $1.14 – a fresh, three decade low. Read more…
Beijing, Shanghai looking at restrictions on Uber drivers
BEIJING (Reuters) – Regulators in Beijing and Shanghai are proposing restrictions on who can operate as drivers for ride-hailing services such as Didi Chuxing and Uber, possibly making it tougher for those services to recruit drivers. Read more…
Chinese President wants to speed up domestic networking technology
BEIJING (Reuters) – China must speed up plans to replace insecure internet technology with domestic alternatives, President Xi Jinping said on Sunday, the latest indication that China is advancing policies that have raised concerns among foreign businesses. Read more…
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