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Uber returns to Finnish roads after taxi market deregulation

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Uber Technologies [UBER.UL] will re-start its ride-hailing business in Finland on Wednesday after a one-year pause, it said, seeking to benefit from the country’s transport law reform.

The US company has come under pressure from traditional taxi drivers and regulators across Europe, who accuse it of unfair competition and skirting traditional licensing rules.

In Finland, Uber was deemed legal provided its drivers held valid taxi licenses, but the company has been the target of police investigations and drivers have been ordered to give up their earnings to the state for not having valid permits.

An overhaul of transport legislation came into force on 1 July , removing a cap on the number of taxi licenses the government issues in a year and fare restrictions, while creating a legal framework for apps such as Uber.

The company will relaunch its uberX and UberBLACK services on Wednesday afternoon in the wider capital region, including Helsinki, Espoo, Vantaa and Kauniainen.

“Drivers who have been fully licensed under the new regulations will now be able to help hundreds of thousands of Finns get around at the touch of a button,” Uber Nordics general manager Joel Jarvinen said in a statement.

“We hope that other countries, where local people are not currently able to use apps like Uber either to get around or to make money on their terms, will soon follow suit.”

Jarvinen said more than a quarter million people in the Helsinki area have opened the Uber app since August even though the company was not operating.

The post Uber returns to Finnish roads after taxi market deregulation appeared first on SABC News – Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader..

Source: SABCNews

Facebook shares drop on report of widened probe on data scandal

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Shares of Facebook Inc fell 2 percent on Tuesday, after a report that a federal probe on the data breach linked to Cambridge Analytica had been broadened and would include more government agencies.

Facebook shares were down 2 percent at $193.36 in early trading on the Nasdaq, erasing nearly $12 billion from the company’s market valuation. The stock lost about 18 percent of its value in the seven trading days after the data scandal broke, but has since gained about 27 percent to date.

Facebook has faced intense scrutiny around the Cambridge scandal, which saw millions of users’ data improperly accessed by the political consultancy.

The Federal Bureau of Investigation, the Securities and Exchange Commission and the Federal Trade Commission have joined the Department of Justice in its inquiries about the two companies and the sharing of personal information of 71 million Americans, the Washington Post reported citing five people.

A Facebook spokesperson told Reuters late on Monday that it is cooperating with officials in the US, UK and beyond.

“We’ve provided public testimony, answered questions, and pledged to continue our assistance as their work continues,” the spokesperson said. The questioning from federal investigators centers on what Facebook knew three years ago and why the company did not reveal it at the time to its users or investors, the Washington Post said.

The post Facebook shares drop on report of widened probe on data scandal appeared first on SABC News – Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader..

Source: SABCNews

Trump to unveil $1.5 trillion infrastructure plan

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Donald Trump’s administration will sketch out more details of its plan to invest in America’s creaking infrastructure Monday, hoping it can leverage up to $1.5 trillion for the cause. Senior White House officials said the president’s budget, due to be released on Monday, will include $200 billion earmarked for projects to fix roads, bridges and
Source: The New Age

Tom Petty, heartland rocker with dark streak, dead at 66

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Tom Petty, the heartland rocker whose classic melodies but dark storytelling created a string of hits over four decades, died Monday of cardiac arrest, his family said. He was 66. His family confirmed that Petty passed away Monday evening surrounded by loved ones after a confusing day in which several media outlets reported and then
Source: The New Age

Hurricane Irma kills four in US Virgin Islands: officials

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At least four people were killed after Hurricane Irma swept through the US Virgin Islands, authorities said Thursday. The deaths were confirmed by an emergency official and an official in the office of Governor Kenneth Mapp. -AFP
Source: The New Age

US court deals blow to Trump travel ban

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A federal court in California dealt a new blow Thursday to the Trump administration’s travel ban, ruling that some refugees must be allowed into the country. It is the latest twist of the legal wrangling touched off by President Donald Trump’s ban, first announced in January with little notice and widely criticized as discriminatory against
Source: The New Age

Texas flood disaster by the numbers

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Monster storm Harvey hit the south Texas coast late Friday and then stalled, gushing torrents of rain over Houston, the country’s fourth largest city with six million people in the greater metropolitan area. The storm continues to shower the region as it heads slowly toward the neighboring state of Louisiana. – How much rain? –
Source: The New Age

Pentagon chief lets transgender troops remain in service

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US Defense Secretary Jim Mattis said Tuesday that transgender troops would continue to serve in the military while he studies an order by President Donald Trump banning them from US forces. Trump surprised Pentagon leaders in July by announcing via Twitter the ban on transgender people serving “in any capacity”, reversing a plan launched by
Source: The New Age

Trump bullish on ‘blazing’ economy but whose recovery is it?

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As he rubs shoulders with leaders of the world’s other major economies, Donald Trump is in a bullish mood about the US recovery even if there are clouds on the horizon. “Stock Market at all time high, unemployment at lowest level in years (wages will start going up) and our base has never been stronger!”
Source: The New Age

US judge sets Bill Cosby retrial for November 6

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A Pennsylvania judge ruled Thursday that disgraced US entertainer Bill Cosby would go back on trial for alleged sexual assault on November 6, after a first trial ended with a deadlocked jury. Judge Steven O’Neill, who was forced to declare a mistrial on June 17 when the 12-member panel failed to reach a unanimous verdict,
Source: The New Age

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