Reuters Technology Report: June 2, 2016

Click to View in Browser Thursday, June 2, 2016 Uber, Lyft set to defend driver settlements in court SAN FRANCISCO (Reuters) - Uber and Lyft on Thursday will attempt to persuade separate U.S. judges to approve class action settlements which keep drivers classified as independent contractors instead of employees. EU regulators take tough approach to net neutrality BRUSSELS (Reuters) - Europe's telecoms operators will have to justify giving priority to certain services on their network, according to new EU regulatory guidelines in a move likely to disappoint an industry hoping for more leeway so they can boost revenues. BMW revamps "i" electric car division to focus on self-driving tech MUNICH (Reuters) - BMW has transformed its "i" division into a development center for self-driving cars, a board member told Reuters, a major strategic shift for the unit previously focused on making a family of lightweight electric vehicles. Uber raises $3.5 billion from Saudi Arabia's sovereign wealth fund SAN FRANCISCO (Reuters) - Uber has raised $3.5 billion from Saudi Arabia's sovereign wealth fund, the U.S. ride-hailing service said on Wednesday, gaining a crucial partner in its expansion into the Middle East. As China shops for German firms, one early example reassures BERLIN (Reuters) - As Beijing moves in to buy up firms from Germany's famed "Mittlestand" of mid-sized manufacturers, politicians are nervous that Chinese owners may take their vaunted technology and move jobs abroad. Wildcat Venture Partners launches, focuses on early-stage startups SAN FRANCISCO (Reuters) - Partners from two longtime Silicon Valley venture-capital firms said they are launching a third: Wildcat Venture Partners, a firm focused on the stage where young companies have products ready to put on the market. Wal-Mart says it is 6-9 months from using drones to check warehouse inventory BENTONVILLE, Ark. (Reuters) - Wal-Mart Stores Inc said Thursday it was six to nine months from beginning to use drones to check warehouse inventories in the United States, taking a step closer to using the technology to compete better with rivals. Temasek, GIC buy $1 billion in Alibaba stock in SoftBank sale (Reuters) - Singapore state funds bought $1 billion of shares in Chinese e-commerce company Alibaba Group Holding Ltd as part of an $8.9 billion sale by Japan's SoftBank Group Corp, Alibaba's biggest shareholder, the company said on Wednesday. New York drivers group sues Uber, claims labor laws violations (Reuters) - A group representing 5,000 Uber Technologies Inc [UBER.UL] drivers in New York City filed a lawsuit on Thursday accusing the ride-share company of depriving drivers of various employment protections by misclassifying them as independent contractors. U.S. subpoenas China's Huawei in probe over exports to Syria, others: NYTimes WASHINGTON (Reuters) - The U.S. Commerce Department has issued a subpoena to Huawei Technologies Co Ltd [HWT.UL] as part of a probe into the Chinese technology company's transactions in Cuba, Iran, North Korea, Sudan and Syria, the New York Times reported on Thursday. Related Video 'Devil' gets a pacemaker Wearable bass system allows listeners to "feel" music Mediafile How about Hightail-ing it? On Twitter, dubious health claims from e-cigarette bots A daily digest of breaking business news, coverage of the US economy, major corporate news and the financial markets. Register Today A quick-fix on the day's news delivered when you want it. Register Today » » MORE NEWSLETTERS - 3 Times Square New York, NY 10036 USA © Copyright 2016 Thomson Reuters Ensure delivery of Reuters Newsmails, add newsletters@email.reuters.com to your address book. Subscribe to other Reuters newsletters. Unsubscribe from this newsletter. Follow us on Twitter Friend us on Facebook