FTI Consulting exits Chinese, Russian capitals. The firm is formally closing its office in Beijing, choosing instead to focus on Shanghai in the Chinese market. Its Moscow office was also subject to a management buyout led by its head of Russia, Oleg Leonov, according to PRWeek UK.
What happened overnight: The Senate passed the Republicans’ sweeping $1.5 trillion tax reform package, delivering a much needed political win to the GOP and President Donald Trump. The bill will go back to the House of Representatives on Wednesday, where approval is all but assured, and then to the president’s desk. However, few respondents to a Wall Street Journal/NBC News poll said the bill will benefit the middle class.
Uber should be classified and regulated like a transportation service, a top European Union court ruled on Wednesday. (The ride-hailing app has always argued it is anything but). An Uber spokesperson shrugged off the news, telling CNBC the ruling won’t change how it operates in most EU countries.
Subaru is examining whether workers at a Japanese facility improperly altered fuel economy data. The automaker also released a 53-page report this week about inspection problems at its facilities, according to The Wall Street Journal. Shares of Subaru were down Wednesday on the news.
Let’s be honest: We’ve all nearly done this. Future tech mogul Elon Musk mistakenly tweeted his mobile phone number instead of what was probably supposed to be a direct message to an Oculus executive. The line was redirected to play a message from the video game God of War.