November 4, 2020 - Biz in 60

Uber, Lyft stocks soar after ballot victory in California Shares in Uber and Lyft jumped more than 10-percent after the ride-hailing firms won a key vote to keep their drivers as independent contractors in California. The outcome will allow them and food delivery companies to bypass a state law intended to provide employee-like protections for their drivers. The companies had said the law would've forced them to shut down in California. BMW reports upbeat Q3 results on China boost BMW has reported better-than- expected third quarter results as it benefited from a strong recovery in China. Net profit at the German carmaker jumped 17-percent from a year ago to 2-point-2 billion dollars. Sales in the world's largest car market, China, grew 31-percent in the quarter through September, while European sales were also up 7-percent Saudi Arabia to ease restrictions on foreign workers Saudi Arabia will remove several restrictions on foreign workers as part of plans to improve its labour market attractiveness. Under the reforms, non-Saudis will no longer need their employer's permission to change jobs and travel abroad. The new rules will come into effect in March next year and apply to all foreign workers in the private sector.