A group of drivers for Uber Technologies Inc and Lyft Inc on Tuesday accused the companies of unfairly controlling how much passengers are charged for rides in an antitrust lawsuit in California state court. The lawsuit seeking class action status in San Francisco Superior Court alleged violations of California antitrust law, and state law prohibiting…
Uber Resumes Ridesharing in Some Cities, Makes It More Attractive
Uber Technologies, Inc has resumed shared rides in selected U.S. cities after pulling the service in March 2020 due to the Covid-19 pandemic. UberX Share, which allows riders to share a car with riders for a discount, is available in New York City, Los Angeles, Chicago, San Francisco, Phoenix, San Diego, Portland, Indianapolis, and Pittsburgh. Uber looks to…
Philippine Government Attorney Fatally Shot in US During Uber Ride to Airport With Mother
Philippine officials are calling on Philadelphia law enforcement to find those responsible for the fatal shooting of a Philippine government attorney on Saturday as he traveled in an Uber alongside his mother. John Albert Laylo, 35, and his mother Leah Laylo were in an Uber on their way to the Philadelphia International Airport on Saturday…
US Supreme Court Rules Southwest Airlines Cannot Force Wage Suit Into Arbitration
Southwest Airlines Co. cannot force a baggage handler’s class-action lawsuit over overtime pay into private arbitration, the U.S. Supreme Court ruled on Monday in a decision with costly potential implications for companies including Amazon.com Inc. and Uber Technologies Inc. that employ many transportation workers. The justices ruled 8-0 in a decision written by Justice Clarence…
Uber Adds Charter Buses to Its US App
Uber Technologies, Inc forged a collaboration to allow its users to charter private buses and coaches through its app, the Financial Times reports. The option targets weddings or wine tours across the U.S., helping Uber expand beyond its core ride-share business. U.S. Coachways, one of the country’s most extensive bus chartering services, will offer the vehicles and…
One Year Since Uber’s IPO: A Look at the Stock’s Bumpy Ride
Most investors who owned stocks in the past year have lost money. the SPDR S&P 500 SPY total return in that time is roughly -4.8 percent. But there’s no question some big-name stocks have done much better than others in that stretch. Uber’s Bumpy Ride Unfortunately, one stock that has struggled mightily since April of last…
Uber Loses Nearly $6 Billion on Investments in Didi, Grab
May 5, 2022
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Uber reported losses of nearly $6 billion for the first three months of the year, driven by its investments in other companies, the ride-sharing company announced on Wednesday. The California-headquartered company reported a first-quarter net loss of $5.9 billion, or $3.04 a share, compared with a loss of $108 million, or 6 cents a share, during…
Uber Says No Need to Spend More on Labor
Uber has said that they will not need to spend more in order to lure drivers back to the app, attempting to reassure investors after the company’s preeminent competitor, Lyft, said that they would need to invest more heavily in labor costs after an unflattering quarterly earnings report. On Wednesday morning, Uber released its own…
Australian Regulator Sues Uber for Misleading Fares, Seeks $19 Million Penalty
Australia’s competition watchdog is suing Uber Technologies Inc and seeking a A$26 million ($18.69 million) fine from the ride-hailing platform after it admitted to misleading consumers about ride fare estimates and cancellation fees. The Australian Competition and Consumer Commission (ACCC) on Tuesday said Uber admitted that between December 2017 and September 2021 it warned consumers…
Uber Drops Masking Requirement for US Drivers and Passengers
Ride-sharing service Uber has announced it is relaxing its COVID-19 masking rules after a U.S. federal judge struck down a federal mask mandate for airplanes and other forms of public transportation. Uber said in a policy update on April 19 that, effective immediately, riders and drivers are no longer required to wear masks when using the…
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