Uber on track to hit profitability this quarter after decade-long journey September 21, 2021 Uber has said it is on course to post its first-ever profit – on an adjusted basis – in the current quarter, beating expectations as food delivery continues to surge and ride hailing recovers from pandemic lows. Shares in the company were up around 8 per cent in early trading today after the company projected [...]
Gig economy: Dutch court rules Uber drivers are employees not contractors September 13, 2021 In the latest victory for gig economy workers fighting for improved rights, a Dutch court has ruled that Uber drivers are employees rather than independent contractors. The decision entitles Uber drivers to greater workers’ rights, and in some cases makes them eligible for back pay. Amsterdam’s District Court ruled that drivers who work through the [...]
Uber Eats, DoorDash, Grubhub sue New York City over caps on fees they can charge restaurants September 10, 2021 A group of food delivery giants including Uber Eats, DoorDash and Grubhub have teamed together to sue the City of New York over legislation that would impose a permanent cap on the commissions they can charge restaurants. The companies filed a lawsuit in federal court in New York late last night, seeking an injunction that [...]
SoftBank-backed Indian Uber rival Ola tables plans for $1bn IPO August 31, 2021 Indian Uber rival Ola is reportedly sitting on plans to raise up to $1bn through an initial public offering (IPO), joining a long line of high-ranking floats in the country. Currently finalising banks to advise on the fund-raise, Softbank-backed Ola is in talks with Bank of America and JP Morgan, three people familiar with the [...]
Uber shares slide as SoftBank look to soften blow of Didi NYSE chaos July 29, 2021 Uber shares have fallen after reports that technology investment firm SoftBank is selling a third of its stake in the ride-hailing app. SoftBank is thought to be planning to offload up to 45 million shares, at an overall value of around $2bn. The Japanese investment group bet big on Didi ahead of its New York [...]
Uber rival Ola raises $500m in funding round ahead of IPO July 9, 2021 Uber rival Ola today said it has raised $500m (£362m) from private equity backers as it gears up for a stock market float. The Indian ride-hailing giant, which is backed by Softbank, said the cash injection had been secured from Temasek and Warburg Pincus in the company’s first funding round for two years. Ola did [...]
Uber under pressure as Chinese rival Didi enters UK July 7, 2021 Uber will come under pressure from yet another ride-hailing rival as China’s Didi prepares to launch in the UK in the coming weeks. Didi is said to have secured its first licences in Manchester and Sheffield and is set to begin services as soon as this month, the Daily Telegraph reported. The arrival of the [...]
Store to door: Dixons Carphone in talks with Uber to ferry tech to homes June 30, 2021 Dixons Carphone, the company behind Currys PC World, has begun talks with Uber to speed up its delivery offering, which was recently slimmed down from 24 hours to an hour. The deal would see Uber drivers deliver the company’s products as it looks to expand its home delivery services, a market not yet ventured by [...]
Uber tells its staff: Work where you want, half the time June 30, 2021 Sources say Uber will let employees work half their hours from wherever they want as part of a revamped return-to-office strategy. Watch the full report.
A third of gig economy couriers and delivery drivers have no savings June 9, 2021 Around 30 per cent of gig economy drivers, riders and couriers across Europe had no savings in the first half of 2021. Almost half of the 10,000 workers surveyed had experienced a claimable event such as an accident. Of these, only 12 per cent had actually made a claim and 69 per cent had a [...]