Benzinga’s weekly Stock Wars matches up two leaders in a major industry sector with the goal of determining which company is the better investment. This week, the duel is between a pair of ride-hailing services: Lyft Inc. and Uber Technologies Inc.. The Case for Lyft This company began in 2012 as an app for Zimride, a…
Cabify Risks Losing Fleet Supremacy to Uber in Home Base Madrid
MADRID—The ride-hailing app Cabify, one of Spain’s few ‘unicorn’ tech startups, risks losing ground to foreign rivals such as Uber or Bolt in its home base Madrid due to a row over exclusivity with a company which employs 1,100 of its drivers. Entrepreneur Felix Ruiz, co-founder of the privately-held firm Auro which owns the cars…
Woman Quits Job to Fulfil ‘God’s Plan’ and Cares for Dementia Patient She Met While Driving Uber
A mom-of-two who quit her full-time job to care for an elderly dementia patient she met while driving for Uber says it’s been a very life-changing and rewarding experience for her. Segi Tekletsion, 52, who goes by Jenni, emigrated from Ethiopia to Columbus, Ohio, 20 years ago. She used to be a senior banker for…
Uber Eats Driver Brings Disabled Customer to Tears With a Kind Note and Care Package
Unable to forget her interaction with a customer who’d lost his ability to use his left arm and hand after a stroke, an Uber Eats driver returned to the address and left a curated care package on his doorstep. The kind gesture brought the man to tears. “It was Sunday morning on Halloween, and [Tim…
EU Lays out Plan Giving Rights to Uber, Deliveroo Drivers
BRUSSELS—The European Commission announced draft rules on Thursday to give many workers such as couriers for online platform companies including Uber and Deliveroo employee benefits, a move which labour unions say is overdue but some companies argue will lead to job losses. The proposal, a global first that needs to be thrashed out with EU…
Uber to Test Audio Recording Safety Feature in the US
Uber Technologies Inc on Thursday said it will launch an optional audio recording pilot program in three U.S. cities to enhance safety, allowing drivers and riders to send trip recordings to Uber in case of a safety incident. Uber at the end of 2019 disclosed it had received 6,000 reports of sexual assault and 107…
Uber to Allow Users to Book Rides via WhatsApp in India
BENGALURU—U.S. ride-hailing company Uber Technologies Ltd said on Thursday it would roll out a feature that will allow users in India to book rides via messaging service WhatsApp. The move could help Uber tap into the more than 500 million user base of Meta Platforms-owned WhatsApp in India. “Starting this week, we are rolling out…
Uber Brings Back Ride-Sharing Under a Different Banner
Uber Technologies Inc. has decided to reintroduce its ride-sharing feature under a new name, UberX Share. What Happened Uber has decided to reintroduce its ride-sharing feature after suspending the option in March 2020 due to the effects of the COVID-19 pandemic. The company will test its pilot program in Miami and allow a maximum of…
Bolt Allows Drivers to Name Their Price
Minicab hailing app firm Bolt has announced it will allow drivers to set their own prices. The company said it is introducing the measure in an attempt to tackle driver shortages which have led to longer wait times and increased cancellations across the sector in the UK. Drivers often accept journey requests but then reject…
Business Chart of the Day: Uber vs. Lyft
Shares of Uber Technologies, Inc. and Lyft, Inc. may be about to move, but for different reasons. Uber has dropped to support. At support levels, there is a large concentration of buyers looking to pay the same price for shares. This is why sell-offs end when they reach them. When the support breaks, meaning that the stock trades below…
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