Review: Ellen Pao cracked door for women in tech 29 Sep 2017 In "Reset," the venture capitalist recounts her decision to fight Kleiner Perkins in court over sexism, rather than settling. She lost, but several women have since publicly confronted the bro-culture of Silicon Valley at Uber, SoFi and beyond, yielding more promising results.
Lyft IPO would amplify Uber’s troubles 28 Sep 2017 The ride-hailing firm is readying to go public as early as next year, Reuters reports. It would be an opportunistic way to capitalize on its larger rival’s self-inflicted damage. Additional capital for the No. 2 U.S. player would merely compound the frontrunner’s injuries.
Electric vehicles lack killer spark – for now 27 Sep 2017 BHP reckons battery-powered cars are reaching a tipping point. Even vacuum maker Dyson is building one. And driverless vehicles could make EVs a huge money-spinner. High costs and concerns over raw-material supplies, though, will keep the combustion engine purring for years.
Uber finally seeks permission, not forgiveness 26 Sep 2017 Facing a ban in London, the ride-hailing app’s new CEO conceded mistakes. It’s a big shift for a company that famously takes few prisoners. Londoners may want Uber’s service but rules are mostly there for a reason. Compromise could be the Silicon Valley invader’s reboot strategy.
German vote bodes ill for utilities and autos 26 Sep 2017 Chancellor Angela Merkel may well turn to the Greens to form a coalition government. The party’s priority is combating climate change. Carbon-heavy power producers like RWE and carmakers wedded to the internal combustion engine are likely to be the first in the firing line.
Uber hops in driving seat to serve ad firms notice 20 Sep 2017 The ride-sharing firm sued a digital advertising agency claiming fraud and seeking some $40 mln in damages. Clients rarely, if ever, take Madison Avenue to court. Already under pressure to prove their value, the case is another sign ad middlemen need to clean up their act.
Foreign automakers will pay for Chinese EV drive 19 Sep 2017 China’s pledge to scrap gas guzzlers looks serious. A new quota system will force motor-makers to sell electric vehicles. Those who miss targets must buy credits from battery-powered rivals. Home-grown brands are likely to reap the benefits, at the expense of global giants.
Pirelli IPO leaves long-term questions unanswered 18 Sep 2017 The Italian tyremaker, sold to ChemChina in 2015, is seeking to raise up to $4 bln in a listing. A shift towards luxury tyres has boosted sales and margins. But growth targets look ambitious and there is no clarity on who will succeed long-term boss Marco Tronchetti Provera.
AI is the big driver of SoftBank’s Uber move 15 Sep 2017 A mooted $10 bln investment in Uber would leave Masayoshi Son’s group with stakes in most of the world’s big ride-hailing firms. It’s a huge sum, even if SoftBank buys in at a big discount. The strategy reflects Son’s belief in the disruptive power of autonomous driving.
Pirelli’s mooted IPO valuation looks overinflated 5 Sep 2017 The Italian tyremaker plans to relist. Pirelli’s high-end business may deserve a premium to peers, but an estimated enterprise value of 12 billion euros, far above what owner ChemChina paid in 2015, looks optimistic. High debt and complex ownership may also spook investors.
German car industry may become Merkel’s nemesis 30 Aug 2017 Re-election in September will lumber Chancellor Angela Merkel with the challenge of managing a crisis that is looming in the auto sector. The fight for clean air in cities could accelerate the shift to electric vehicles and jeopardise up to a tenth of Germany’s industrial jobs.
Water woes may leave green-car hopes high and dry 28 Aug 2017 Ford is the latest to ramp up electric-vehicle production with a deal in China. But the industry relies heavily on the Democratic Republic of Congo for a crucial battery material. Drought, abysmal infrastructure and conflict could put ever-increasing supply needs at risk.
Viewsroom: Fiat Chrysler’s painful choices 24 Aug 2017 Great Wall Motor wants to buy Jeep. That’d leave the Italian-American carmaker cash rich but devoid of profit in a fast-changing industry. Meanwhile, Uber tries to find a silver lining to the cloud its drivers are under. Plus: what makes China’s unicorns a different breed.
Uber could help itself by giving drivers equity 23 Aug 2017 The ride-hailing firm is considering handing them stock. They aren't employees, so the SEC would have to agree. The plan could boost Uber's damaged brand and help keep drivers. Other gig-economy workers might gain, too. But existing irate investors could present a roadblock.
Jeep sale would leave Marchionne nowhere to hide 22 Aug 2017 The Fiat Chrysler CEO advocates using M&A to stop carmakers wasting precious capital. Selling the company's top brand to China's Great Wall - a long shot politically - might raise $23 bln. But it would leave an emaciated rump and set up Marchionne’s last lap to be a dismal one.
Holding: The law rides shotgun on Uber obfuscation 21 Aug 2017 Whether the ride-hailing app fixed prices may remain a secret after a court sent a case to arbitration. It’s the same deal on whether drivers were stiffed on expenses or female workers sexually harassed. It’s tough to make Uber fess up when it's allowed to operate in the shadows.
Fiat Chrysler would rev up China’s Great Wall 21 Aug 2017 The $19 bln Italian group has bid interest from the Chinese carmaker. Just as Geely’s takeover of Volvo helped it revamp designs, Great Wall could benefit from Fiat’s knowhow, especially at Jeep. But this could seriously stretch the buyer’s finances and management capacity.
Geely drives bumpy road toward global fame 16 Aug 2017 The firm that bought Volvo could become China’s first truly international carmaker. That hope, plus surging domestic sales, has sent shares in Geely's listed arm up over 230 pct in a year. But the lure of overseas glory could distract. This company needs to keep winning at home.
Take the money and run is new Uber Benchmark 15 Aug 2017 The ride-hailing firm is beset by controversy, managerial turmoil and huge losses, despite its market dominance. Early investor Benchmark may be loath to give in to demands to sell its 13 pct stake. But it’d restore some stability and let the VC firm make some 200 times its money.
Marchionne’s Maserati spinoff lacks traction 15 Aug 2017 Fiat Chrysler’s boss is considering selling the group’s premium brands, according to a report. He staged a similar trick with the firm’s high-end Ferrari brand. Yet Maserati and Alfa Romeo are tiny and need Fiat’s production lines. Staying part of a larger group makes more sense.