Travis Kalanick takes break after scathing management report follows his mother’s death
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Travis Kalanick, Uber’s chief executive, has decided to go on leave for an indefinite period, after a highly critical report into the ride-hailing company’s dysfunctional management followed hard on the heels of the death of his mother. Mr Kalanick’s hard-driving style has for years defined the transportation company, which has grown to a valuation of $68bn while earning a reputation for breaking the rules and doing whatever it takes to achieve growth.
Here’s the 13-page report, drafted by Covington & Burling following allegations of sexual harassment at the company. Here’s Lex’s take. (FT, NYT)
Anbang chief detained
Wu Xiaohui, chairman of the acquisitive Chinese insurer, is “unable to perform his duties”, the company said on Tuesday, confirming Chinese media reports that he has been detained by authorities . (FT)
‘I can’ t negotiate by myself’
This was the message from Michel Barnier, the EU’s chief negotiator, to the UK government as he warned that time to agree a deal on Brexit was limited. He pointed out that Britain needed to appoint a negotiating team “very quickly” if it wanted to avoid crashing out of the EU without a deal. A contrite prime minister apologised to her colleagues for the election disaster late on Monday and vowed to clean up the mess. Amid the disarray, business leaders have called for a cross-party group on Brexit. Here’s Martin Wolf on how the UK is sleepwalking toward a chaotic Brexit. (FT)
Sessions rejects allegations of Russian collusion
Jeff Sessions, US attorney-general, blasted suggestions that he had been involved in, or knew of, any collusion between the Trump campaign and the Russian government, calling such suggestions ‘an appalling and detestable lie’ . Meanwhile, Rod Rosentein, assistant attorney-general, told Congress that there was no reason to fire the man investigating the Trump team’s Russia ties, Robert Mueller, despite reports that Mr Trump was considering the move. (FT)
US threatens further North Korea sanctions
Rex Tillerson, US secretary of state, said Washington is moving closer to placing sanctions on countries that did not clamp down on North Korea as the Trump administration tries to boost pressure on Pyongyang to abandon its nuclear weapons programme.
