May 12 The following are the top stories in the
Financial Times. Reuters has not verified these stories and does
not vouch for their accuracy.
Uber faces regulation in Europe as transport company
SoftBank injects $500m into UK start-up in boost for
BT tries to reset fortunes with restructuring plan
Wells Fargo unveils additional $2bn in cost savings
An adviser to the European Union's top court said
ride-hailing app Uber Technologies Inc should be
regulated as a transport company and be subject to the same
rules as normal taxis.
Improbable is raising $502 million from Japan's SoftBank
in a deal that will value the UK virtual simulation
start-up at more than $1 billion.
BT Group Plc will cut 4,000 jobs and replace the boss
of its global services business in a plan to tackle the source
of an Italian accounting scandal that stunned Britain's biggest
telecoms group in January.
Executives at Wells Fargo & Co doubled its
cost-cutting target after seeing expenses soar in the aftermath
of a sales scandal that the third-largest U.S. bank is still
trying to recover from.
(Compiled by Bengaluru newsroom; Editing by Sandra Maler)