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New York Times columnist and Princeton economist Paul Krugman spoke with our own Henry Blodget about a range of topics. In this clip, Krugman responds to Paul Singer’s criticism that there’s been a ‘Krugmanization’ of economics and talks inflation.
Produced by Alex Kuzoian. Additional camera by Graham Flanagan and Devan Joseph.
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A significant trend in all parts of the modern world over the past few years, ‘the sharing economy’ has become a concept that disrupted quite a few major industries, including hospitality, fashion, and transportation. As an example from the latter category, French-born city-to-city ridesharing service Blablacar has been actively expanding lately and raised a massive $100 million funding round in July. This year marked Blablacar’s entrance to the markets of Ukraine and Russia, where the company bought a local competitor Podorozhniki, as well as Turkey where it launched from scratch. As of November, Blablacar employs about 185 people and has more�
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London’s black cab drivers paid private detectives to pose as Uber customers in order to dig dirt on the company.
The revelation is part of a massive court case between the London Taxi Driver Association (LTDA) and the divisive taxi booking app, the Evening Standard reports.
In the case, the LTDA launched a private prosecution against Uber. Black cab drivers, who have long dominated London’s streets, are angry about the rise of San Francisco-based Uber, which is undercutting traditional services by up to 50%.
The LTDA claims Uber’s fare calculator is basically a taxi metre, and that taxi metres are only legal in licensed black cabs, the Standard explains. The High Court said is set to rule one way or another on the issue.
In the meantime, The Sunday Times reports the taxi association has enlisted undercover investigators to spy on Uber and see how its drivers pick up passengers and work out fares. Steve McNamara, the general secretary of the LTDA, told The Sunday Times: “In order to prosecute them we obviously had to get evidence and ride in the cars and private detectives and all of that.”
Live Nation announce that SYSTEM OF A DOWN will be heading to London in April 2015 to play an exceptionally special and important show
BT has confirmed that its in talks to buy O2 UK, Telefonica’s UK mobile network. The deal would take the company full circle since O2 began life in 1985 as Cellnet, a joint venture between BT and Securicor. BT told The Wall Street Journal: “All discussions are at a highly preliminary stage and there can be no certainty that any transaction will occur.” BT struck a deal with EE last year to use the latter’s 4G network. ➤ BT [via The Wall Street Journal]