Uber has hired the cybersecurity experts who hacked into a Chrysler Jeep and controlled it remotely, prompting a recall of 1.4m cars.
Security researchers Charlie Miller and Chris Valasek will work for Uber’s advanced technology centre in Pittsburgh, which is stepping up its work on driverless cars.
They attracted global attention this summer when they brought a Jeep to a halt on a St Louis motorway by hacking into the car’s entertainment system. Their work with Uber will be to protect the ride-hailing service’s driverless cars from malicious hackers.
Uber’s grand vision is one day to replace hundreds of thousands of drivers with autonomous cars.
The European Commission will begin a study of Uber’s operations next month after the taxi service complained about laws in France, Germany and Spain that it said were preventing it from offering consumers a service.
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At present, taxis are regulated at a national level.
Innovation accepts Carlyle bid
The Innovation Group has agreed to a £499m offer from American private equity giant Carlyle. The software group, which provides services to insurance companies, agreed to the 40p-a-share deal on Friday. Carlyle is paying almost 23 times earnings. Andy Roberts, Innovation’s chief executive, will stay on and is expected to receive a multi-million pound payout on completion. Innovation was founded by controversial entrepreneur Rob Terry, who was forced out of the business in 2003 and went on to found Quindell.
Bidders eye Great Yarmouth port
Britain’s biggest port operators are circling a Norfolk harbour put up for sale for £75m by its owner, an infrastructure fund. Associated British Ports, Peel Ports, Forth Ports and PD Ports, as well as a handful of small infrastructure funds, have been invited to bid for Great Yarmouth port after its owner, Global Infrastructure Partners (GIP), decided to sell. GIP also owns Gatwick airport and is selling City airport in London. It took control of Great Yarmouth eight years ago.
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Islamic finance to top £2 trillion
The value of assets in the Islamic finance sector is set to reach £2.1 trillion by 2020. The Dubai Islamic Economy Development Centre said the sector was expected to expand by 80% over the next five years, according to Thomson Reuters projections. Sharia-compliant investments have been used to fund some of London’s biggest developments, including The Shard and the Olympic Village.