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...PwC plans to reverse a controversial restructuring of its tax practice in the US after just three years, in a strategy U-turn under its incoming senior partner Paul Griggs....
...The U-turns included pushing back a ban on the sale of new petrol and diesel cars from 2030 to 2035 and diluting the phaseout of fossil fuel boilers....
...The class action, which included 8,000 taxi drivers who alleged that Uber gained an advantage over regulated drivers and companies when it entered the market in 2012, was filed in 2019....
...That does not, however, resolve the question of whether it is just a big taxi company. Yes, it generates cash. But its returns are still below that of traditional transport companies....
...The company, which provides private hire, taxi and courier services, reported a 14 per cent rise in operating profit to £14.2mn in 2023....
...Garcia vowed a high-speed U-turn. His company would slash costs and its heady ambitions for growth would take a back seat to proving efficiency....
...The dirtier companies were going to underperform, while the cleaner ones would roar ahead....
...Slowing growth of electric vehicle sales has caused a series of corporate U-turns. While sharp swerves are never fun, the change in direction is sensible....
...Jim PickardThere have been an awful lot of U-turns....
...Labour also intends to spend £8.3bn to set up GB Energy, a state-owned energy company that will work with private partners on energy projects....
...Australian mining billionaire Andrew Forrest has slammed Germany for its U-turn against EU legislation that would punish companies for environmental and human rights abuses in their supply chains....
...He said Labour was retaining the policy’s main elements: a state-owned £8.3bn energy company called GB Energy; a £7.3bn “national wealth fund” to decarbonise heavy industry; and a home insulation scheme....
...“We don’t want to overburden companies,” said Lukas Köhler, deputy head of the FDP group in the German parliament....
...A further £1.5bn over three years is still pledged for renewable energy companies hiring workers in Britain’s industrial heartlands....
...Chart du jour: Inside Mariupol Let the FT’s awesome Visual Investigations team take you inside Russia’s new Potemkin village, where locals live in perilous conditions while Russian companies profit from...
...But in November, the government said the ban only applied to state-owned manufacturers, not private companies....
...A state-owned energy company called GB Energy will cost a one-off £8.3bn and a £7.3bn “national wealth fund” will be set up to invest in the decarbonisation of heavy industry....
...A white-haired taxi driver whose dance moves at an Iranian fish market went viral has become an unlikely symbol of disobedience after authorities moved to clamp down on his act and labelled them anti-Islamic...
...government has reversed its decision to raise the income and asset thresholds for promotions of potentially risky investments to high-net worth individuals after a backlash from investors and technology companies...
...Last month, the company was among a clutch of tech groups to receive regulatory approval to launch generative AI applications to the public, as Beijing seeks to catch up on breakthroughs made by Microsoft...
...The decision represents a sharp U-turn for Exxon, which as recently as its annual meeting in May urged shareholders to vote against a resolution calling for it to join the programme, arguing that doing so...
...Uber added thousands of New York City’s yellow taxis last year via a partnership with two local companies, Curb and CMT, despite ongoing opposition from some drivers’ associations there....
...The company on Tuesday said it held 64 per cent of Cainiao and that it would buy shares from minority investors and employees who want to sell at a $10.3bn valuation....
...Senior railway executives privately expressed frustration at the U-turn....
...Train operators in England had been planning to generate significant savings from the mass closure of ticket offices, but the government ordered a U-turn in October following a public backlash....
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