Uber, the ride-sharing service and Silicon Valley superstar startup, has hit problems around the world which threaten to put the brakes on its spectacular growth. Uber has long drawn scorn from established taxi operators in many cities, and regulators from New Delhi to Portland, Oregon, have been clamping down on its operations.
Outgoing Ferrari head Luca Cordero di Montezemolo, squeezed out of the sports car company after a poor Formula One streak, will receive a 27-million-euro (USD 34.7 million) severance package.
A red 1962 Ferrari 250 GTO Berlinetta, one of only a handful, was snapped up for $38.1 million in California, becoming the most expensive car ever sold at an auction.
General Motors posted a sharp drop in second-quarter profit as the automaker took heavy charges for safety recalls and a compensation fund for victims of faulty ignition switches.
Honda said the recall covers about 2,033,000 vehicles which were produced between August 2000 and December 2005, including over one million in North America and 668,000 in Japan.
Electric car-makers Nissan and BMW are keen to collaborate with rival Tesla after the US company agreed to share its patents with competitors.
The company said its e-NV200, a zero-emission commercial van, can drive 190 kilometres (120 miles) on a full charge, and doubles as an onboard power source to supply emergency lighting or power to an outside unit.
General Motors has announced four more vehicle recalls, totalling about 106,000 in North America, including one to fix an air-bag system likely tied to one crash involving an injury.
General Motors chief executive Mary Barra said today that the company has fired 15 mostly top executives over the deadly ignition scandal that has placed the automaker under federal investigation.
Honda Motor today said it has cut production in its Thai plant by 40 per cent, blaming a drop in demand, the day after the country's army chief seized power in a military coup.
Toyota has posted a record annual net profit of $17.9 billion as the world's biggest automaker saw a recovery in major markets and got a boost from the weaker yen. But the company, hit by a series of huge recalls and recent labour problems in India, warned that profit growth would slow this year.
