Uber limits driver hours in Britain to 10

LONDON: US ride-hailing app Uber on Tuesday said it would cap the number of hours its drivers can work in Britain from next week in a bid to increase safety after heavy criticism of its business practices.

The new policy means that drivers must take an uninterrupted six-hour break after 10 hours, and will not be able to log on to the app during that time.

The company had already been messaging drivers who were working too long to switch off its app.

“We believe this is an industry first and are not aware of any other private hire operator in the UK that has introduced such a limit,” Uber said in a statement.—AFP

TPL Insurance, Global e-Commerce sign pact

KARACHI: TPL Insurance Ltd entered into a strategic agreement with Global e-Commerce for reinforcing the consumption of travel insurance in Pakistan, a press release said.

Citigroup reports $18.3bn loss

NEW YORK: Citigroup reported a $18.3bn loss in the fourth quarter on Tuesday as the financial conglomerate had to take more than $20bn in accounting write-downs related to the new tax law.

The New York-based bank said it had a loss of $7.15 a share, compared with a profit of $3.57bn, or $1.14 a share, in the same period a year ago.

Citigroup’s loss was mostly caused by accounting adjustments in compliance with the new tax law.—AP

GM sees sustained profits through 2018

NEW YORK: General Motors expects strong sales in North America and China to sustain its profit through 2018.

The automaker on Tuesday reaffirmed its 2017 expectations for profit between $6 and $6.50 per share and said it expects similar results in 2018.

Published in Dawn, January 17th, 2018