Uber 'to focus on bikes over cars'
Uber says it plans to focus more on its electric scooter and bike business, and less on cars, despite the fact it could hurt profits.
Boss Dara Khosrowshahi said that individual modes of transport were better suited to inner city travel.
He also forecast users would make more frequent shorter journeys in future.
"During rush hour, it is very inefficient for a one-tonne hulk of metal to take one person 10 blocks," he told the Financial Times.
"Short-term financially, maybe it's not a win for us, but strategically long term we think that is exactly where we want to head."
The ride-sharing firm has invested in a number of bike firms in the last year.
Its Jump electric bikes are now available in eight US cities, including New York and Washington, and are soon launching in Berlin.
It also teamed up with Lime, an electric scooter company, while forging deals in other areas such as public transit and freight.
Mr Khosrowshahi admitted that Uber makes less money from a bike ride than from the same trip in a car, but said this would be offset as customers used the app more frequently for shorter journeys.
"We are willing to trade off short-term per-unit economics for long-term higher engagement," he told the FT.
He also acknowledged that Uber drivers could lose out from the plan, but said over the longer term drivers would benefit from more lucrative longer journeys.
Elon Musk will no longer take Tesla private
Tesla chief executive Elon Musk says he will no longer be taking the electric car maker private, just two weeks after saying he was considering a deal.
The plan was cancelled after a board meeting on Thursday, he wrote in a post published on the company's site.
Since Mr Musk announced his plan to delist Tesla, its share price has dropped by 20%.
He said he had told the board "that I believe the better path is for Tesla to remain public," and that they agreed.
Mr Musk, who owns about a fifth of the company, said he had spoken with shareholders and major banks to consider the privatisation but found the sentiment was "please don't do this".
Earlier this month, Elon Musk shocked investors by announcing on Twitter that he had funding secured to take Tesla private at a value of $72bn (£57bn).
It later transpired that he had not closed a deal with Saudi Arabia's sovereign wealth fund, with unhappy investors launching a lawsuit against him after the news.
The lawsuits are still continuing against Mr Musk despite his cancellation of the privatisation plan, as is an investigation by the US Securities and Exchange Commission to see if the tweet broke securities laws.
The billionaire entrepreneur has complained since floating the company on the stock market that quarterly scrutiny of Tesla's finances encourages short-term thinking.
But in a follow up tweet after his blog post, he said talks with shareholders had persuaded him otherwise.
Tesla shares rose sharply on 7 August following Mr Musk's suggestion he would take Tesla private, but have continued to fall since then.
The slide has been good news for short sellers, who bet that Tesla's share price would fall.
Mr Musk has a well-known dislike of short sellers, whom he has called "jerks who want us to die" and has argued that taking Tesla off the stock exchange would shield it from their attacks.
Trinidad and Tobago signs secret gas deal with Venezuela
With local reporters barred from entering the room to witness or ask questions about an agreement between the governments of Trinidad and Tobago’s and Venezuela to process and export natural gas from Venezuela’s Dragon gas field, Prime Minister Dr Keith Rowley said the details of the deal are “confidential”.
The secret deal will allow Trinidad and Tobago to access gas through a direct line from Venezuela through a joint venture between energy giant Shell, the Venezuela state-owned Petróleos de Venezuela, SA (PDVSA) and local company National Gas Company (NGC), which will create the infrastructure.
Current US Treasury Department sanctions imposed on Venezuela, among other matters, prohibit transactions by a US person or within the US related to the sale, transfer, assignment, or pledging as collateral by the government of Venezuela of any equity interest in any entity in which it has a 50 percent or greater ownership interest.
In the absence of any detail, it is not known if the new agreement is an attempt to bypass US sanctions and designed to avoid the US banking system entirely, not an easy task in the energy industry.
Shell’s pipelines, including those in the North Coast Marine Acreage, will be used to transport Dragon’s gas to the Hibiscus platform off the northwest coast of Trinidad, some 11 miles (18 kilometers) away from the gas field. The Hibiscus platform is jointly owned by the Trinidad and Tobago government and Shell.
The signing of the agreement took place at the Placio de Miraflores in Caracas, with Trinidad and Tobago’s Cabinet ministers there as witnesses, including minister of energy, Franklin Khan; minister of foreign and CARICOM affairs, Denis Moses; minister of finance, Alyson West; minister of national security Stuart Young; and minister of sport Shamfa Cudjoe, as well as executives from Shell and NGC and Venezuela’s President Nicolas Maduro and his officials.
Germany migrants: Merkel condemns 'vigilantes' after Chemnitz murder
German Chancellor Angela Merkel has said "vigilante justice" will not be tolerated after far-right unrest over a murder in the eastern city of Chemnitz.
Scuffles have broken out during two days of protests by hundreds of people in the city centre since a German was stabbed to death early on Sunday.
A Syrian man and an Iraqi man have been arrested on suspicion of murder.
Police were still out in strength on Monday evening, braced for new demonstrations by both right and left.
They are also investigating alleged assaults on an Afghan, a Syrian and a Bulgarian during the unrest.
Reports have spoken of aggressive protesters chasing foreigners, though there are few details, and police have appealed for witnesses to the assaults to hand over any video they may have recorded.
A far-right football fan group called Kaotic Chemnitz had earlier called out supporters to show "who is in charge", while protesters on Sunday could be seen chanting "We are the people!" and "This is our city!".
Bottles were thrown on Sunday by protesters at police, who were reinforced by officers from other cities.
3-DAY BAHAMAS AND TURKS AND CAICOS ISLANDS PUBLIC FORECAST
FORECAST FOR TODAY AND TONIGHT FRIDAY 24TH AUGUST 2018
GENERAL SITUATION: A BROAD MID TO UPPER LEVEL TROUGH IN THE VICINITY OF THE CENTRAL AND SOUTHEAST BAHAMAS INCLUDING THE TURKS AND CAICOS ISLANDS WILL CONTINUE TO TRIGGER SOME UNSETTLED WEATHER WHILE A HIGH PRESSURE RIDGE ACROSS THE NORTHWEST BAHAMAS MAINTAIN LIGHT TO MODERATE WINDS OVER THE COUNTRY TODAY.
SPECIAL WARNINGS: BOATERS SHOULD REMAIN VIGILANT FOR POSSIBLE WATERSPOUT ACTIVITY AND BEACHGOERS SHOULD EXERCISE CAUTION DUE TO THE HIGH RISK OF RIP CURRENTS AT EAST COAST BEACHES MAINLY IN THE CENTRAL AND SOUTHEAST BAHAMAS INCLUDING THE TURKS AND CAICOS ISLANDS.
CENTRAL AND SOUTHEAST BAHAMAS INCLUDING THE TURKS AND CAICOS ISLANDS
WEATHER: VARIABLE CLOUDINESS, BREEZY AND HOT WITH A FEW SCATTERED SHOWERS AND THE CHANCE OF ISOLATED THUNDERSTORMS THROUGH TONIGHT.
ADVISORY: SMALL CRAFT CAUTION IS IN EFFECT
WINDS: EASTERLY AT 15 TO 20 KNOTS OVER OPEN WATERS
SEAS: 4 TO 7 FEET OVER THE OCEAN
NORTHWEST BAHAMAS
WEATHER: PARTLY CLOUDY, HOT AND HUMID WITH WIDELY SCATTERED SHOWERS AND ISOLATED THUNDERSTORMS TODAY. MOSTLY FAIR AND WARM TONIGHT WITH THE CHANCE OF A FEW LINGERING SHOWERS AND ISOLATED THUNDERSTORMS.
ADVISORY: SMALL CRAFT SHOULD BE ALERT FOR GUSTY WINDS AND HIGHER SEAS IN OR NEAR HEAVY SHOWERS OR THUNDERSTORMS.
WINDS: SOUTHEASTERLY AT 10 TO 15 KNOTS OVER OPEN WATERS
SEAS: 2 TO 4 FEET OVER THE OCEAN
DAYTIME HIGH TEMPERATURE: 92F 33C HEAT INDEX: 105F 41C
OVERNITE LOW TEMPERATURE: 79F 26C
SUNRISE: 6:48AM SUNSET: 7:34PM
MOONSET: 6:40PM MOONRISE: 5:56AM SAT.
HIGH TIDE: 6:12AM LOW TIDE: 12:18PM
HIGH TIDE: 6:36PM LOW TIDE: 1:00AM SAT.
EXTENDED FORECAST: RIDGE WILL REMAIN ACROSS THE NORTHWEST BAHAMAS WHILE A TROUF WILL ENTER THE SOUTHEAST BAHAMAS INCLUDING THE TURKS AND CAICOS ISLANDS BY LATE SATURDAY AND MIGRATE WESTWARDS WHILE CONTINUING TO SUPPORT POCKETS OF UNSETTLED WEATHER ACROSS THE AREA THROUGH MONDAY.
FORECAST FOR SATURDAY
WEATHER: PARTLY CLOUDY AND HOT WITH SCATTERED SHOWERS AND ISOLATED THUNDERSTORMS.
WINDS: EAST TO SOUTHEAST AT 10 TO 15 KNOTS IN THE NORTHWEST BAHAMAS AND EASTERLY AT 15 TO 20 KNOTS IN THE CENTRAL AND SOUTHEAST BAHAMAS INCLUDING THE TURKS AND CAICOS ISLANDS.
SEAS: 2 TO 4 FEET IN THE NORTHWEST BAHAMAS AND 4 TO 7 FEET IN THE CENTRAL AND SOUTHEAST BAHAMAS INCLUDING THE TURKS AND CAICOS ISLANDS.
FORECAST FOR SUNDAY
WEATHER: MOSTLY CLOUDY, HOT AND BREEZY WITH WIDELY SCATTERED SHOWERS AND THUNDERSTORMS.
WINDS: EASTERLY AT 15 TO 20 KNOTS ACROSS ALL AREAS
SEAS: 4 TO 7 FEET OVER THE OCEAN
TROPICAL WEATHER OUTLOOK: A TROPICAL WAVE IS FORECAST TO MOVE OFF THE WEST COAST OF AFRICA TODAY AND THEN MOVE QUICKLY WESTWARD AT ABOUT 20 MPH. NO DEVELOPMENT IS EXPECTED DURING THE NEXT FEW DAYS BUT ENVIRONMENTAL CONDITIONS ARE EXPECTED TO BECOME MORE CONDUCIVE FOR SOME DEVELOPMENT EARLY NEXT WEEK AS IT CROSSES THE WEST-CENTRAL ATLANTIC OCEAN. HOWEVER, TROPICAL CYCLONE FORMATION IS ONLY 10 PERCENT THROUGH THE NEXT 5 DAYS.
Pink stops performance to console grieving fan
The US singer spotted 14-year-old Leah Murphy holding a sign saying she "would love a hug", after having "lost my beautiful mum last month."
"You're going to be okay," she told the youngster.
"Thank you. My mum loved you," replied Leah, before grabbing a quick selfie.
Watch the moving moment above, courtesy of ABC Brisbane.
Pink was forced to cancel part of her Australian tour a few weeks back due to sickness.
Amazon warehouse staff defend retailer on Twitter
A small group of American Amazon employees is being paid to defend and promote the company on Twitter.
A total of 16 accounts have been found on Twitter, written by staff who have worked at the retailer's warehouses.
Called "FC ambassadors", the workers have most often responded to tweets critical of Amazon's working practices.
Amazon said the accounts were run by real people, not software bots created to automatically respond to unfavourable views.
LOL! Procter & Gamble wants to trademark LOL
Procter & Gamble has applied to trademark acronyms that are common in text speak.
If successful, terms including "LOL" (Laugh Out Loud), "NBD" (No Big Deal) and even WTF (too rude to spell out here) could be used to market products.
The global household products company applied to use the acronyms in soap, detergents and air fresheners.
P&G registered the trademark applications with the US Patent and Trademark Office in April.
The products would be sold alongside well known brands such as Febreze, Fairy and Mr Clean.
It seems the firm believes that under thirty-fives can be persuaded to buy its products if they're branded with slang lifted from text speak.
And tech savvy millennials are an important potential consumer group for packaged goods companies.
Collectively, millennials (the group born around the turn of the millennium and often referred to as Generation Y) in the US alone, are expected to increase their annual spending to $1.4tr (£1.09tr) by 2020, according to the statistics portal Statista.
But P&G's applications have not yet been approved and are still "TBD" (To Be Decided).
The change in brand strategy may have come from activist investor, Nelson Peltz, who joined the P&G board in March.
Last September, he told CNBC that younger consumers do not want "one size fits all" brands but products that "they have an emotional attachment to".
Perhaps, these consumers - when faced with a pile of dirty dishes, unwashed socks and a grimy bathroom - already have just those words in mind.
The applications were first highlighted by Ad Age which pointed out that other brands, which might have wished to adopt the terms, are now faced with "FOMO" (that's "Fear of Missing Out" in case you didn't know).
The BBC has not been able to reach P&G for comment.
Kalashnikov's CV-1 electric car touted as Russia's answer to Tesla
Russian manufacturing firm Kalashnikov has wheeled out a retro-looking electric car it says will give Elon Musk's Tesla a run for its money.
The firm behind the famous AK-47 assault rifle presented the eggshell-blue prototype vehicle, the CV-1, at an event near the capital, Moscow.
It said the CV-1, inspired by a Soviet hatchback created in the 1970s, was a revolutionary cutting-edge "supercar".
Kalashnikov was earlier ridiculed over its new combat robot "little Igor".
The company said in a statement on Thursday that the CV-1 car featured a number of "complex systems" with technology that would "let us stand in the ranks of global electric car producers such as Tesla".
It added that, when fully developed, the car would have a top speed several times higher than current electric vehicles produced by its firm and would be able to travel 220 miles (350 km) on a single charge.
As it is an initial prototype, details such as the vehicle's price tag have not yet been disclosed.
Kalashnikov has been looking to take its brand in different directions and recently launched a clothing line and a catalogue of personal items ranging from umbrellas to smartphone covers.
However its decision to go down the road of developing electric vehicles was met with mixed reactions in Moscow.
Social media users quickly took to the company's Facebook page to share their thoughts on Russia's answer to Tesla, with some commenting on its "funny Zombie-like" design, while others praised its "cool" appearance.
"Your tanks are great, but it would be better if you stayed away from cars," one user wrote.
St Lucia opposition calls on PM to explain whereabouts of US$20 million in citizenship donations
CASTRIES, St Lucia — Opposition member of parliament, Dr Ernest Hilaire, has called on Saint Lucia’s Prime Minister Allen Chastanet to explain what happened to approximately US$20 million in citizenship by investment programme (CIP) donations that the developer of the Ritz Carlton project, Range Developments, generated and thereafter expected to be made available as initial construction finance.
“In pursuance of the agreement with Range, the developer brought in about 250 CIP applicants. Given each donation is US$100,000 and, less commissions, the developer expected about US$20 million to be available. We asked why was no money was available. Where is the CIP money?” Hilaire said at a press conference on Thursday.
The opposition Saint Lucia Labour Party (SLP) has been calling on the prime minister to provide full public disclosure on the now abandoned Ritz Carlton and the financing agreement with Range Developments.
“We learnt that Range Developments requested a settlement of about EC$20 million for costs incurred and that this should be settled by July 1. Apparently, there was no settlement even after the prime minister had publicly accepted responsibility for the delays in the project. We would further learn that Range Developments had served the attorney general a notice of intent to sue. This time the claim will be for cost and aggravated damages totally over EC$100 million,” Hilaire said.
Accordingly, the SLP called for the following:
1. That the minister with responsibility for investment, Bradley Felix, and Pinkley Francis, chairman of Invest Saint Lucia, make a public statement on the Range Development matter;
2. That the prime minister accounts for the CIP monies that have been earned since the launch of the citizenship programme; and
3. The Cabinet makes every effort to settle this matter in the best interest of Saint Lucia and avoid taxpayers having to be burdened with a decision of the court which may not be favourable to Saint Lucia.
“Hon. Bradley Felix and Pinkley Francis did not see it necessary to provide any explanation to the people of Saint Lucia,” Hilaire continued.
He noted that the prime minister explained that he had used the money thinking that he can use it until the attorney general told him that this was wrong. But he also argued that he had permission to use the money.
“It makes no sense to state that you had permission as it was stated in the Estimates then say that you were using until your attorney general advised otherwise. In the same comments, the prime minister contradicts himself over and over,” Hilaire said.
According to Hilaire, the Cabinet has agreed that the government should settle with Range and pay the sum of about EC$20 million. Range has in the meantime closed its offices in Saint Lucia and relocated to St Kitts where it is planning to build a new Six Senses luxury resort. Range has removed the Ritz Carlton project at Black Bay in Saint Lucia from its website.
“Yet, we have heard no official word or explanation from the government,” he said, adding, “Accordingly, we are asking the government to be accountable and inform the people of Saint Lucia whether the government has in fact signed a settlement deal of EC$20 million with Range Developments for its responsibility in the failed project.”
Range Developments declined to comment on any such settlement agreement with the government, saying that it could neither confirm nor deny the report.
“For government action or inaction to catastrophically destroy an investment project causing the people of Saint Lucia to pay EC$20 million is a sad indictment. Worse, it is the second time that the prime minister has been involved in a fiasco involving Black Bay. The first fiasco cost the country about $60 million and now another $20 million!” Hilaire continued.
In 2014, then prime minister, Dr Kenny Anthony, said that Chastanet, as tourism minister in the 2006 to 2011 United Workers Party (UWP) government, was at the centre of an earlier failed project in Black Bay that ended up costing Saint Lucia taxpayers almost EC$60 million (US$22 million).
“This government is a failure. Every single project that it puts its hand on is tainted or grossly mismanaged. And every time it is the people of Saint Lucia to pay the price. We cannot continue with such gross incompetence in government. We must mobilise and demonstrate our rejection of the UWP government,” Hilaire concluded.