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Uber picks up another $1 bn from investors
by Staff Writers
San Francisco (AFP) Feb 18, 2015


British car exports to China up five-fold
London (AFP) Feb 19, 2015 - British car exports to China have increased five-fold since 2009, according to figures released Thursday by a British industry body, driven by a demand for luxury brands such as Rolls-Royce and Jaguar.

The number of cars manufactured in Britain and exported to China stood at 137,410 in 2014, a 14.5 percent increase on the previous year and five times the number shifted in 2009, the Society of Motor Manufacturers and Traders (SMMT) said in a statement.

British car exports to all destinations have increased by 54 percent since 2009 to 1.2 million vehicles in 2014, and the sector represented 11.2 percent of all British exports last year, a new record.

The rude health of the British motor industry has not escaped the notice of Prime Minister David Cameron, who goes to the polls seeking re-election on May 7 and praised the sector's performance during a visit to a Rolls-Royce plant on Wednesday.

Uber said Wednesday that it expanded its latest funding round to pick another billion dollars from investors eager to put money into the controversial ride-sharing service.

The company's Series E financing lid was raised to $2.8 billion overall, not changing Uber's dizzying valuation of around $41 billion but pumping up its coffers as it expands globally despite efforts by the traditional taxi industry to put up roadblocks.

"The participation we have seen in Uber's Series E underscores the confidence investors have in Uber's growth and the key priorities of UberPool and further international expansion," the company said in an email response to an AFP inquiry.

UberPool is a service that lets several passengers share a ride to a common destination.

The fast-growing San Francisco-based company lets people use smartphone applications to summon and pay for car rides from motorists interested in sharing space in vehicles.

Uber is embroiled in several controversies around the world, and earlier this month complied with an order to stop operating in New Delhi after an Indian woman said she was raped by one of its drivers.

It has drawn protests from established taxi operators in many cities and been ruled illegal in some jurisdictions, while the company has seen its image tarnished by executives' gaffes and concerns on privacy.

Uber has expanded to some 200 cities worldwide in more than 50 countries since launching in 2010.


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French automaker PSA cuts losses after ownership change
Paris (AFP) Feb 18, 2015
France's PSA Peugeot Citroen said Wednesday it slashed losses in 2014 and posted its first operational profit in three years, just months after an ownership change saved it from bankruptcy. The French carmaker said a sweeping, three-year reorganisation and cost-cutting plan introduced in 2013 had allowed the group to cut 2014 losses to 555 million euros ($631 million), down from 2.23 billion ... read more


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