Uber loses $1bn in first quarterly results since stock market float May 30, 2019 Uber has reported a $1bn (£790m) loss in its first quarterly financial report as a public company, despite revenue rising by one-fifth. Read more: Uber partners with insurtech start-up to offer digital insurance The loss will not come as a surprise to investors in the ride-hailing giant, after it already predicted the figure in a [...]
Uber partners with insurtech startup to offer digital insurance May 30, 2019 Ride sharing giant Uber has struck a deal with a US insurtech startup to offer digital insurance for its drivers. Inshur uses information about average trips, locations and driver ratings in near real-time to calculate the price of the driver’s policy. Read more: Uber facing £1bn VAT tax bill after HMRC opens investigation The startup [...]
Freebike to launch electric bike-sharing scheme in the City May 28, 2019 Electric bike company Freebike is set to launch a dockless bike-sharing service in the Square Mile after securing a contract with the City of London Corporation. The pedal-assist electric bikes will allow workers to travel around the City using the Freebike app or by swiping a contactless card, with a pause facility enabling users to [...]
Uber launches electric bike-sharing scheme Jump in London May 24, 2019 Uber today launched an electric bike-sharing service in London in the firm's latest attempt to expand its transport offering beyond cars. The ride-hailing app has rolled out the a pilot scheme of 350 bikes in Islington, with plans to expand into other London boroughs in the coming months. Read more: Uber facing £1bn VAT tax [...]
Small businesses will be collateral damage in Corbyn’s war against the rich May 23, 2019 A new word was coined earlier this month. Joining the terms “Brexit” and “omnishambles” in the English lexicon, we now have “Corbygeddon” to describe the abject fear of a hard-left Labour government led by Jeremy Corbyn, that’s set to drive the uber-wealthy (or at least a proportion of their assets) out of the country in [...]
The future looks bright for university graduates May 21, 2019 This month, university students across the country are being tested on their chosen field of study. As if the exam season weren’t stressful enough, final-year students also have to deal with acute cases of so-called employability anxiety. This generation is already described as the “most anxious in history”, so adding extra stress makes for a [...]
Taxman opens investigation into claims Uber owes £1bn in unpaid VAT May 19, 2019 HMRC has opened an investigation into Uber over allegations it owes around £1bn in unpaid VAT. Uber claims it is exempt from paying VAT because its drivers are self-employed and their earnings fall below the £85,000 threshold. However, HMRC is now looking into whether Uber is a transportation company and should therefore be liable to pay [...]
Amazon in talks to invest £450m in Deliveroo May 16, 2019 Amazon is in talks to invest hundreds of millions of pounds in Deliveroo giving the food delivery app a boost as it takes on takeaway rival Uber Eats. The internet retailer will announce a deal to back Deliveroo as part of a $575m (£450m) funding round which is expected to be revealed in the coming days, [...]
French ride-hailing app Kapten puts Uber in its sights as it launches in London May 16, 2019 French ride-hailing app Kapten has taken a swipe at Uber after launching in London this morning. Read more: Uber IPO: Shares slide again on second day of trading The private-hire vehicle company, formerly called Chauffeur Prive, has set up shop in the capital after winning approval from Transport for London. The firm, which is backed [...]
Uber IPO: Shares slide again on second day of New York trading May 13, 2019 Shares in Uber dropped as much as 10 per cent this afternoon on its second day of trading following a disappointing $82.4bn (£63.2bn) stock market debut on Friday. The ride-hailing giant’s stock fell to $37.22, dropping more than 17 per cent below its initial public offering (IPO) price of $45 per share. Read more: Uber braced [...]