The Notebook: Victoria Scholar on Muskisms, Barbie and why there’s light at the end of the rate-rising tunnel August 3, 2023 Where the City’s movers and shakers get a few things off their chest. Today, it’s Victoria Scholar of Interactive Investor Little relief from interest rates yet, but there is light at the end of the tunnel The Bank of England is forecast to raise interest rates for the 14th time in a row today, lifting [...]
Uber announces new offerings from Majorca to Mykonos due to record tourism June 28, 2023 Uber has announced a host of new upgrades in European holiday hotspots from Spain to Greece, ahead of what is expected to be a record period of tourism demand in Southern Europe. Popular destinations from Croatia’s Split to Portugal’s Algarve will benefit from a swathe of new improvements, with Uber-users in the popular Greek island [...]
Uber to slash 200 jobs in layoff resurgence June 22, 2023 Uber is preparing to cut 200 employees from its recruiting team in its ongoing drive to improve efficiency. The ride-sharing app is slashing over a third of its recruitment division, less than one per cent of its total global workforce, according to sources cited by the Wall Street Journal. It comes as Uber is trying [...]
Sadiq Khan to address ‘cost of doing business’ crisis at summit with Uber and Natwest June 20, 2023 Sadiq Khan is set to address the “cost of doing business crisis” at a crunch summit with firms including Uber, Natwest and KPMG. The mayor of London will welcome more than 200 CEOs to his annual City Hall business reception at the Crystal in east London today. He is expected to tell firms the “cost-of-doing-business [...]
Deliveroo, Just Eat, Amazon and Uber: Delivery apps charging DOUBLE for supermarket groceries, says Which? June 3, 2023 Ordering supermarket groceries via a delivery app such as Deliveroo, Just Eat or Uber Eats could cost twice the price of buying directly from the same store, according to Which? Meanwhile, Amazon is charging up to 45 per cent more for Morrisons products than if they were bought from the supermarket’s own website, the consumer [...]
Uber confident on profit as US demand rebounds in 2023 May 2, 2023 Uber forecast quarterly core earnings above estimates on Tuesday, after a surge in demand for travel and food delivery helped the US ride-sharing giant report better-than-expected results for the January-March period. Shares of the company rose 7 per cent and helped drive small gains in those of rival Lyft, which reports earnings on Thursday. Uber is benefiting from its [...]
60 Uber Eats and Deliveroo drivers arrested amid Home Office ‘crackdown’ on illegal working April 24, 2023 Some 60 fast food delivery drivers have been arrested across London as the Home Office cracks down on alleged illegal working. Gig workers employed through Deliveroo, Uber Eats and Just Eat were arrested between 16-21 April following a “week long crackdown” on illegal workers led by the Home Office. Following the arrests, the department said [...]
Exclusive: Uber joins CBI exodus April 23, 2023 Uber is pausing its engagement with the CBI, City A.M. has learnt. The ride-hailing tech firm is the latest in a string of companies who have either ditched the organisation or suspended their engagement in the last few days, following reports of sexual misconduct by senior CBI members. Uber’s decision will be yet another blow [...]
Uber trialing free childcare in bid to coax parents to become drivers March 13, 2023 Uber is trialling free childcare for drivers as part of efforts to encourage more parents of young children to sign up to the minicab app platform. The company announced it is offering 10 hours of free childcare for 1,000 of its UK drivers. Uber said its drivers on average earn £34 an hour in London [...]
Lyft loses ground on Uber: Share price falls 30 per cent after profit down £100m on forecast February 10, 2023 Lyft is trailing behind competitor Uber as disappointing forecasts have caused investors to lose confidence. Shares in the ride-hailing company dropped more than 30 per cent this week after it reported lower than expected first quarter profit forecasts of $975m (£805m). Initially, analysts forecasted it would be at $1.09bn (£900m), according to Refinitiv data. Lyft [...]