Uber Technologies (UBER.N) plans to cut about 10% of its global workforce; the company says only about 1% of employees will work remotely going forward.

Market sources: Fire at Hebat power plant in Erbil province, northern Iraq.

South Korea announced on Thursday a major restructuring of state-owned energy and transport firms as part of broader public institution reforms aimed at cutting costs and boosting competitiveness. The government said the state oil company will merge with the state gas company; five subsidiaries of the state power utility will be consolidated; Korea Coal Company will be liquidated; and four regional port authorities will be merged. The government said the measures will remove overlapping functions, consolidate subsidiaries and smaller public bodies, and reallocate technology and personnel to improve infrastructure management.