Germany's federal government has shelved a plan to boost electric car sales via corporate tax breaks because it could not secure the consent of state governments whose coffers stood to lose revenue, officials said on Monday. The Berlin government of conservative Chancellor Angela Merkel wants to have 1 million electric cars on German roads by 2020, but some critics say the goal looks unrealistic. As part of this plan, the governing coalition of Christian Democrats and Social Democrats announced new steps such as allowing the owners of electric company cars to offset half the cost of the vehicle against tax. One reason for the move was that Merkel's government was unable to reach a deal with state governments that would have been be affected by the tax shortfalls, the official said.
By Goran Tomasevic NEAR SIRTE, Libya (Reuters) - Families fled Libya's coastal city of Sirte in their dozens on Monday after two days of clashes between Islamic State militants and fighters loyal to a government based in Tripoli, with the violence set to escalate, according to witnesses. Families were seen packing into cars and heading westwards along the coast for Misrata, the stronghold of Libya Dawn, the armed group that backs the government in the capital, Tripoli. One resident leaving the city said Islamic State had told them that more fighting was likely in the next few days. Fuel was running short in Sirte while some shops had closed, he said.
By Paul Carsten and John Ruwitch BEIJING (Reuters) - China's Alibaba Group Holding Ltd, the world's largest e-commerce firm, has begun hunting staff in Seattle, home turf of Amazon.com Inc and Microsoft Corp, focusing on savvy cloud computing hires as it ramps up U.S. operations. Three positions were open to people in Seattle, two of which also allow applications for Alibaba's Silicon Valley offices, according to advertisements on LinkedIn Corp'sN business networking site in the past week. Several recruiters in the region said they had registered the firm's hiring drive, suggesting Alibaba is eyeing staff at rival Amazon as well as Microsoft and Facebook Inc. According to LinkedIn's data, Alibaba has already hired staff away from Microsoft and Amazon.
(Reuters) - Chinese auto maker SAIC Motor Corp Ltd said on Thursday it would join forces with e-commerce giant Alibaba Group Holding Ltd to invest 1 billion yuan ($160 million) in a fund to develop Internet-connected cars. The pair will establish a joint venture and aim to launch their first car in 2016, SAIC said in a statement. SAIC shares rose 9.8 percent to a more than two-month high on news of the partnership, before shedding some of the gains to close up 4.8 percent. Chinese internet companies and auto makers have been quick to team up to start developing
By Zachary Fagenson MIAMI (Reuters) - The streets snaking through downtown Miami's high rises will be buzzing this Saturday as commuters make way for dart-shaped racing cars zooming by at breakneck speeds - and little noise. The race drivers will be competing in the first Formula E race in the United States since the all-electric series was launched in Beijing in September 2014. Halfway through its inaugural season, Formula E has offered the same, albeit quieter, thrills as the popular Formula One events, with low-slung, opened-wheeled cars capable of speeds up to 136 miles per hour (220 kilometers per hour). "It's really something to see how racing has evolved to fully electric motors.