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Ford said Thursday it was investing $182 million into San Francisco cloud computing firm Pivotal as it deepens its work on connected and self-driving cars. The number-two US automaker has been working with Pivotal since late last year on cloud-based services for Ford cars and drivers. The announcement comes two days after rival Fiat Chrysler announced it was tying up with Google parent Alphabet on developing autonomous cars.
Brasília (AFP) - A Brazilian Supreme Court justice Thursday suspended powerful Lower House speaker Eduardo Cunha Thursday for obstructing efforts to investigate him as part of the Petrobras corruption scandal engulfing the country, a judicial source said. Cunha, a key opponent of President Dilma Rousseff and architect of impeachment proceedings against her, "used his office for his own illicit ends to prevent the success of investigations against him," prosecutors said in asking the court to take action. In March, the Supreme Court voted to put Cunha on trial, accusing him of taking $5 million in bribes as part of a vast embezzlement and bribery network centered on state oil giant oil Petrobras.
WASHINGTON (AP) — Mortgage giant Fannie Mae posted net income of $1.1 billion for the first quarter, down from a year ago as declining interest rates reduced the value of the financial instruments it uses to hedge against rate swings.