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E.U. executive conditionally approves Daimler, BMW car-sharing deal

BRUSSELS — The European Union's competition authority said on Wednesday it had approved the plan of German luxury carmakers Daimler and BMW to combine their car-sharing businesses, subject to conditions. Under the deal, which includes car-sharing units Car2Go and DriveNow as well as ride-hailing, parking and charging services, Daimler and BMW will each hold 50 percent stakes in a joint venture. They have offered concessions to address E.U. antitrust concerns over the deal they hope would let them better compete with U.S. rival Uber and China's Didi Chuxing. The European Commission has found the deal would raise competition concerns for free-floating car sharing services in Berlin, Cologne, Duesseldorf, Hamburg, Munich and Vienna. It said Daimler and BMW agreed to a remedy package in the six cities. "The commitments thus fully address the Commission's concerns as they will reduce the barriers to entry for competing free-floating car sharing providers," the Commission said in a statement. "Therefore the Commission concluded that the proposed transaction, as modified by the commitments, would no longer raise competition concerns. The Commission's decision is conditional upon full compliance with the commitments." Reporting by Gabriela Baczynska and Philip Blenkinsop. Related Video:

2016 Singapore Grand Prix Race Recap | Setting the stage for the final rounds

The Singapore Grand Prix always features a safety car. This year the nation-state got caution out of the way early: seconds after the lights went out, Toro Rosso's Carlos Sainz collided with Force India's Nico Hulkenberg, sending Hulk into the wall minus a wheel and some bodywork. The safety car led the field for three laps, then ducked into the pits so abruptly that a track marshal was still retrieving debris as race leader Nico Rosberg hit the throttle down the front straight. Rosberg avoided the pedestrian on his way to a two-second lead over Daniel Ricciardo in the Red Bull, Lewis Hamilton in the second Mercedes-AMG Petronas, and Ferrari driver Kimi Raikkonen. On Lap 8 of the 61-lap race Mercedes engineers warned Rosberg and Hamilton about brake management. Rosberg had no trouble until the waning laps of the race, his teammate inadvertently the cause. Raikkonen got ahead of Hamilton on Lap 33 while Hamilton nursed his car. Trying to get Hamilton back in front of the Ferrari, Mercedes pitted Hamilton on Lap 46 and also ordered him to turn his engine up. Ferrari debated for a lap about whether to bring Raikkonen in, finally issuing a last-second order to pit. The Finn emerged behind Hamilton, but executing the trick to get Hamilton back into third gave Ricciardo breathing room in second place. Red Bull brought Ricciardo in on Lap 48 for a set of super soft Pirellis. Returning to the track 25 seconds behind Rosberg, Ricciardo cut from one to four seconds out of that gap on every lap. By Lap 59 the Aussie was little more than a second behind the German. Had the race gone three more laps, Ricciardo might have pulled off the upset. This time Rosberg stayed in front to win his third race in a row and his first victory in Singapore, all in his 200th grand prix. Ricciardo and Hamilton completed the podium; Raikkonen claimed fourth. Sebastian Vettel wrangled an incredible fifth place after starting last; the German set the worst time on the grid when his suspension broke in Q1. Max Verstappen, having lost places at the start due to wheelspin again, recovered for sixth. Fernando Alonso made the most of his McLaren with seventh, ahead of Sergio Perez in the lone remaining Force India, a resurgent Daniil Kvyat in the Toro Rosso, and Kevin Magnussen scoring Renault's second points finish of the season. Hamilton has not had a good time of it since the end of the summer break – engine troubles in Belgium, a botched start in Italy, and zero rhythm in Singapore.

Car subscription services: A slow, expensive start — but the potential is huge

Americans are used to paying for subscriptions — to magazines and cable television, for instance — but experience shows they'll cancel when the price of admission gets too high, or there are more tempting alternatives. Cord cutters ditched nearly 1.5 million pay-TV subscriptions in 2017, according to a survey by Leichtman Research Group. Cable TV started out cheap with basic offerings, and then got expensive. The auto industry's subscription offerings are new, but they're starting out costly, and not price-competitive with traditional leasing. The upside is that they take the hassle out of car ownership for busy people by letting the service take care of maintenance, insurance, licensing and taxes. And they give consumers choice, often allowing relatively painless switches between different cars in the automakers' lineup. Subscription services also point the way toward an ownership-free auto experience, and offer an easy transition to a potential world where ride- and car-sharing will be dominant. Subscriptions are here to stay, but consumers may take a while to "get" them. Lincoln's subscription service for lightly used 2015 to 2017 models, offered through the Ford-owned Canvas beginning this year, got off to a slow start. Many early subscribers canceled. Last month, Cadillac announced it would " temporarily pause" its $1,800-per-month Book subscription service for "adjustments" as of December 1. According to the Wall Street Journal, "Snags with the back-end technology used to support the service made some customer-service functions tedious and time-consuming, adding costs for the company." The challenge for automakers is to come up with a strategy that offers consumers a compelling, affordable option to regular ownership, and one that can also make a profit. I think they'll find that sweet spot, but they're not there yet. Jack Nerad, former executive editorial director at Kelley Blue Book and author of " The Complete Idiot's Guide to Buying or Leasing a Car," points out that "A lot of people expected that subscriptions would be very valuable for people who wanted inexpensive transportation, but the reality is quite the opposite. Subscriptions are offering more choices for the wealthy.