Uber has worked to cut costs for months, early enough relative to others that a memo the CEO wrote on this tougher stance "landed a bit like a lead balloon initially," Dara Khosrowshahi saidon the sidelines of the World Economic Forum's annual meeting.

The ground work is already underway. The construction work would start very soon, probably in the next two to three months.

Brussels is coming under pressure from European business to respond to the US’s multi-billion dollar clean energy subsidy plan or risk losing investment and falling behind in the green energy revolution.