Oct 23, 2018

Uber to invest $260 million to help London drivers go electric

Photo: studioEAST/Getty Images

Uber plans to invest $260 million (£200 million) in order to help transition all of its London drivers to electric vehicles by 2025, CNBC reports.

The big picture: The initiative will involve a 15 pence per mile "clean air fee" on all Uber rides booked in London, along with cash incentives to drivers to encourage them to move to electric vehicles. By the end of 2021, the company expects 20,000 drivers in London to switch to electric vehicles.

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House Democrats lose appeal to force McGahn testimony

Photo: Alex Wong / Staff

Democrats in the House lost an appeal to force former White House Counsel Don McGhan to comply with a subpoena, Politico was the first to report.

Why it matters: McGahn was seen as a crucial witness in the House investigation into whether President Trump tried to obstruct the Mueller inquiry. The U.S. Court of Appeals for the District of Columbia Circuit ruled 2-1 on Friday that it court did not have the authority to resolve the dispute between the executive and legislative branches.

The Americans who can't hide from coronavirus

Illustration: Eniola Odetunde/Axios

The stock markets are in bad shape, but for the millions of Americans who aren’t invested in stocks, coronavirus is presenting a far more imminent concern.

Why it matters: Quarantines usually work with at least 90% participation, but many Americans lack the flexibility to work remotely, take a sick day or absorb having schools close.

Go deeperArrow24 mins ago - Health

Wall Street notches worst week for stocks since 2008

Traders work on the floor of the New York Stock Exchange. Photo: Scott Heins/Getty Images

Stocks closed down about 1% on Friday, ending the worst week for Wall Street since the financial crisis.

Why it matters: The stretch of declines came after a spike in coronavirus cases around the world earlier this week. The steep losses prompted questions about the fate of the record-long economic expansion, as well as a rare statement from the Federal Reserve.

Go deeper: The growing coronavirus recession threat