If you’d asked me as a child what the future looks like, I’d probably have banged on about flying cars. In fairness, we’re part way there. Self-driving vehicles are a reality. The problem is we can’t find a way to stop them running people over. No wonder the state of California is losing its patience.

The lowdown

• 👨‍💻 Microsoft and Google post strong quarterly sales growth as Big Tech continues its comeback.

• 🇨🇳 China is issuing a $137 billion sovereign bond to support the economy.

• 📈 Santander net profit rises 20% on record-high interest rates.

Featured story

California revokes permit of GM’s self-driving car unit

The vision of a world without drivers has become slightly more distant after California blocked General Motors’ self-driving car subsidiary from operating autonomous vehicles in the state.

Cruise is no longer allowed to operate vehicles without a safety driver – someone who can take over the controls if needed – after the California Department of Motor Vehicles (DMV) said its vehicles were “not safe for the public’s operation” and that it had misrepresented “information related to safety of the autonomous technology of its vehicles.”

The DMV didn’t say exactly which events led to Cruise’s suspension, but one of its cars recently hit a pedestrian, dragging them along the road as it attempted to pull off the road. Cruise told CNN this was the incident that precipitated the DMV to revoke the permits.

The DMV says it has given Cruise the steps needed to get its license back. Meanwhile, Cruise will continue to operate driverless fleets in Phoenix, Arizona and Austin, Texas.

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The bottom line