Business News Roundup, July 1
Two Uber France managers have been ordered to stand trial on charges including “deceptive commercial practices” and complicity in illegal activities linked to its low-cost ride-hailing service, the Paris prosecutor’s office said Tuesday.
Thibaud Simphal and Pierre-Dimitri Gore-Coty were taken into custody on Monday after a police sweep at Uber France headquarters.
French authorities say UberPop is illegal and have expressed frustration that Uber doesn’t pay the same taxes and social charges as traditional taxis.
Taxi drivers staged a violence-marred strike last week, blocking many roads across France.
Online retail giant Amazon has opened its Mexico site for business, offering free delivery on orders of over $38.25.
Online shopping in Mexico has been limited, in part because of unreliable postal service and difficulties with home deliveries.
Amazon says customers in Mexico will also have the option of picking up their purchases from hundreds of locations across the country.
Consumer confidence showed a solid gain in June after a modest increase in May, supporting the view that strong job gains are giving a boost to the economy.
The Conference Board says its consumer confidence index rose to 101.4 in June, up from a May reading of 94.6.
Home prices increased at a solid clip in April, led by double-digit jumps in San Francisco and Denver.
[...] the continued gains are at roughly double the pace of wage growth, potentially pricing out many would-be buyers.
Prices in the Denver area climbed 10.3 percent, while home values in San Francisco rose 10 percent.
European officials have approved a series of sweeping changes to how mobile and wired Internet service works in the region, pushing through rules that outlaw mobile roaming charges and forbid providers from giving preferences to some types of online traffic.
The changes also outline how Internet service providers must treat data over their networks, forbidding broadband providers from slowing down any particular service.
Lawmakers say they want the new rules to foster greater economic activity in the European Union, which in many ways is still divided by national boundaries.
The auto parts seller Pep Boys appears to be looking for a buyer.
CEO Mike Odell resigned in September, and last month the company agreed to nominate three board members recommended by its biggest stockholder to avoid a proxy fight.
Pep Boys — Manny, Moe & Jack, with more than 800 locations in 35 states and Puerto Rico, said that its board is reviewing options to boost shareholder value, including a possible sale or merger.
From research funding to free lunches and junkets, drug and medical device companies paid doctors and hospitals nearly $6.5 billion last year, according to government data posted Tuesday.
Of the payments, $3.2 billion went toward research, about $2.6 billion was for miscellaneous items and $700 million represented investments and ownership stakes.
Drug companies often recruit doctors to help with clinical trials and other research.
About 80 percent of the money went to doctors, whose prescribing decisions affect the fortunes of pharmaceutical and medical device manufacturers.