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Uber must follow same rules as taxis – EU court

Uber must follow same rules as taxis – EU court

Business
Ride hailing phone app Uber is a taxi service and can be regulated, an EU Court has ruled.The ruling from Europe's highest court found that Uber "must be regarded as being inherently linked to a transport service and, accordingly, must be classified as 'a service in the field of transport'​​​​​​".In short, this means Uber will now be officially recognised as a cab company rather than a technology company.Image:Uber has insisted the outcome of the case will not affect their businessOne implication of the ruling is that the company will now be regulated as transport company, meaning that rules can be set at country level.:: 10 Uber-interesting facts from 'brilliant jerks' to forced selfiesIn contrast, rules for digital platforms - which the company had argued that they were - are set Europe-
Republican tax bill: House passes plan to Senate for final vote

Republican tax bill: House passes plan to Senate for final vote

Business
The Republican-controlled Congress is expected to confirm the most sweeping overhaul of the US tax system in more than three decades.The House of Representatives approved the legislation comfortably on Tuesday, but the vote is likely to be closer in the Senate.The bill looks set to mark the party's first major legislative triumph under President Donald Trump.Critics say the package is a deficit-bloating giveaway to the super-rich.But Republicans argue the tax cuts for corporations, small businesses and individuals will bolster economic growth.Tuesday saw 12 Republicans and all Democratic members of the House oppose the bill, which passed by 227 votes to 203, to loud cheers and applause from Republicans in the chamber.Speaker Paul Ryan said: "Today we are giving the people of this country t...
Lockheed Martin to support AEGIS system for Japanese self defense forces

Lockheed Martin to support AEGIS system for Japanese self defense forces

Business
Dec. 18 (UPI) -- Lockheed Martin has been awarded a contract for the AEGIS weapon system by the U.S. Navy for new construction in support of Japan's Maritime Self Defense Force.The deal, announced Friday by the Department of Defense, is worth more than $ 135.8 million under the terms of a cost-plus-incentive-fee, cost-plus-fixed-fee contract.The contract calls for new construction and integration of a DDG AEGIS, which is a centralized, automated, command-and-control weapon system used to rapidly detect and track more than 100 targets at once.Work on the contract will occur in several U.S. states, as well locations in Japan, and is expected to be completed in December 2018.The terms of the deal provide cost reimbursement from the U.S. government that would aid Lockheed Martin on potential c...
Saab signs Gripen E equipment deal with Sweden

Saab signs Gripen E equipment deal with Sweden

Business
Dec. 18 (UPI) -- Saab Defense has signed a multi-million dollar contract with Sweden's Defense and Material organization for new equipment for Gripen E fighter aircraft.The contract -- a supplemental to a 2013 deal -- is worth more than $ 46.9 million and requires Saab to supply new equipment for existing and new E variants of the planes.Under the 2013 agreement for development and modernization of the Gripen, some equipment already in service was to be reused but that has now changed."Saab, FMV and the Swedish Armed Forces have agreed on the terms of the contract based on the relevant needs and deliveries," Jonas Hjelm, senior vice president and head of Saab's Aerronautics business area, said in a press release. "This joint approach is intended to secure availability so that the Swedish A...
IPPR proposes creation of ‘shared market’ for UK and EU

IPPR proposes creation of ‘shared market’ for UK and EU

Business
A think tank is proposing a post-Brexit trading deal based on the UK and the EU sharing each other's markets.It would see the UK and EU continuing the regulatory alignment that exists today, and the formation of a new customs union similar to the existing one, the centre-left IPPR said.It would allow tariff-free trade, and the UK to benefit from EU trade deals.IPPR director Tom Kibasi said it "honours the referendum result" while securing Britain's economic interests.The group said that the EU would also benefit from the scale of the UK's economy in future trade negotiations.The group believes that a new shared market model would aim to keep the benefits of single market while allowing divergence from EU rules over timeThe proposal would mean no interruption to the UK's trade with the EU a...