Sao Paulo Mayor Fernando Haddad steps out of a black sedan in Paraisopolis, a neighborhood of small brick homes, cramped storefronts and narrow streets, in mid-July. He is meeting with residents weeks after about a million Brazilian protesters took to the streets across the nation, railing against corruption, shoddy education and inadequate public transportation.
Zipcar Inc. , the U.S. car-sharing company that rents vehicles by the hour, is being investigated by a U.K. antitrust regulator over concerns its acquisition of London-based Streetcar Ltd. may hurt competition.
Fatih Birol, the International Energy Agency’s chief economist, comments on price of oil. He spoke in an interview today in the Chinese city of Dalian, where he’s attending the World Economic Forum’s Annual Meeting of the New Champions.
The Chinese will buy 16.7 million passenger cars and light commercial vehicles this year, about five million more than consumers in the U.S., according to the most recent research by J.D. Power and Associates. Driven by China’s rising middle class, breakneck development of suburbs and roads, and drastically reduced tariffs on automobile imports since 2001, a torrent of cars is choking Chinese cities in traffic and pollution. Convinced that a market existed for car rentals, Shanghai-born Ray Zhang, the founder and former chief executive officer of logistics software maker Aleph in Emeryville, Calif., returned to China in 2005 and launched eHi Car Rental a year later with $5 million in venture capital, promoting renting as a greener alternative to owning.
General Motors Co. led one of the auto industry’s most closely watched quality measures for the first time since the survey began almost three decades ago, pacing U.S. carmakers producing their best cars in a generation.
China’s vehicle sales this year will probably miss their 8 percent growth forecast as the slowing economy and rising fuel costs curb buying, said an official at the state-backed auto association. Bayerische Motoren Werke AG, Daimler AG and Volkswagen AG shares dropped.