EXPLAINER: How Uber UK case could foreshadow gig work revamp
It's an early sign of what companies like Uber face as authorities get to grips with regulating the app-based gig economy. San Francisco-based Uber Technologies Inc. says a driver's minimum wage will be calculated based on the time they accept a trip through the app. Of course you should," said James Farrar, one of two former Uber drivers who filed the initial claim. THE GIG ECONOMY'S FUTUREThe Uber case is part of broader efforts to rein in the gig economy that are gaining traction, at least in Europe. AdCEO Dara Khosrowshahi has been a dvocating for reforms to what he called outdated labor laws that force gig workers to choose between flexibility and social protections.
Uber's 4Q loss narrows, raising hopes for pandemic recovery
In 2020, the ride-hailing service was forced to rely more heavily on its food-delivery service. But analysts believe Uber’s pioneering ride-hailing service will also eventually bounce back as more people are vaccinated against COVID-19. He also predicted that Uber's losses may evaporate by the end of this year. The company’s ride-hailing service brought in revenue of $1.48 billion in the quarter, a 52% drop from the prior year. Meanwhile, revenue in Uber's food-delivery service more than tripled from the previous year to $1.37 billion.
Uber, hard-hit by pandemic, sells its robot-vehicle division
SAN RAMON, Calif. – Uber is selling off its autonomous vehicles development arm as the ride-hailing company slims down after its revenues were pummeled by the coronavirus pandemic. Self-driving vehicle technology company Aurora will acquire the employees and technology behind Uber's Advanced Technologies Group in an stock transaction, the companies said Monday. Uber will also invest $400 million into Aurora, and Uber's CEO Dara Khosrowshahi will join Aurora's board of directors. After the transaction, Aurora will be worth $10 billion and Uber will hold 26% stake in the company, Aurora CEO Chris Urmson said in an interview. San Francisco-based Uber will lose a critical piece of its company after the pandemic cut into its finances by suppressing demand for shared rides.
Uber's food delivery business outshines core rides service
Uber's food delivery business brought in more money during the third quarter than its signature rides business, showing just how much consumer behavior has changed — and how far the company has adapted — since the pandemic struck. Uber brought in $3.13 billion in revenue, down 18% from the same time last year. Despite the decline, the rides business showed improvement from the second quarter, when it brought in just $790 million. Uber’s food delivery business also brought in more revenue than its rides business in the second quarter, when demand for rides was even lower due to the pandemic. However, its rides business was more profitable than delivery.
Ride-hailing, delivery giants win fight against labor law
California voters passed Proposition 22 and delivered a stinging rebuke to state lawmakers and labor leaders who were fighting for better working conditions for a growing number of people who drive for ride-hailing and food delivery services. Uber, Lyft, Doordash, Instacart and others sought to get out of those requirements, and after failing in court, succeeded in convincing voters to give them an exemption from most of the year-old law’s provisions. The investment yielded a huge return for Uber and Lyft, whose combined market value climbed by $10 billion on Wednesday. Uber, Lyft and, DoorDash, Instacart and their supporters accounted for roughly $200 million that amount, underscoring how badly the companies wanted to preserve their business model. “It’s not really fair that Uber, Lyft etc.
Uber, Lyft spend big, win in California vote about drivers
FILE - In this Aug. 20, 2020, file photo travelers request an Uber ride at Los Angeles International Airport's LAX-it pick up terminal. A California ballot measure that would exempt Uber, Lyft and other app-based delivery drivers from being classified as company employees eligible for benefits and job protections led Tuesday, Nov. 3, 2020, in early vote counts. San Francisco-based Uber and Lyft had threatened to pull out of California if they lost. Opponents said the companies exploit drivers to keep profits high and the ballot measure would deprive workers of rights like overtime pay and workers’ compensation. Supporters said the measure would allow drivers to maintain the freedom to work hours they choose and would provide other benefits.
Ready to vote but need a ride? This company says it’s stepping in to help
And just like every election year, it’s of the utmost importance that citizens cast their ballot in this year’s election. If you’ve registered but are already concerned about how you will make it to a polling station, the ride-sharing company Uber wants to step in and lend a hand. As Election Day approaches, and as part of its “Get Out the Vote” campaign, the company aims to help people find their polling location, as well as offer discounted rides to and from the poll during early voting. “As we look ahead to this year’s election, we are committed to doing our part to make sure every citizen has access to vote,” Uber CEO Dara Khosrowshahi said. Uber officials said as Election Day nears, people will begin to have access to important information in the app.
Tornado, virus, protests rattle Nashville rideshare economy
Then came what she calls Nashvilles quadruple-whammy: a tornado, coronavirus closures, protests that rocked downtown, then more closures. Bicknese says business has gone from dismal to tolerable, but only because so many drivers have voluntarily stayed home. Bicknese chose to keep driving because she didn't think she could make her car and insurance payments on unemployment. Then what happened is so many drivers filed for unemployment and stopped driving that demand came back," she said. Instead of well-heeled tourists, Bicknese finds herself driving people on unemployment, factory workers and patients travelling to medical appointments.