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 [...]
Driving success: Uber eyes profitability as airport and office journeys fuel post-pandemic rideshare demand February 8, 2023 Uber said it had set its sights on delivering profits this year after 2022’s surge in demand for airport and office rides helped the company rebound from pandemic lows. Dara Khosrowshahi, chief executive of Uber, said the company was now focused on achieving profitability on a GAAP basis this year. Khosrowshahi said: “The pandemic’s impact on [...]
City Hall politician warns Bolt of licence issues if workers’ conditions not improved December 5, 2022 A leading City Hall politician has warned ride-sharing app Bolt it could be barred from operating in the capital unless it improved its drivers’ pay and conditions. Labour transport lead Elly Baker has tweeted that Bolt should give its workers “the rights they deserve,” otherwise it would face “serious questions over its licence to operate [...]
Local cabbie prices could spiral following Uber lawsuit over VAT November 1, 2022 Taxi firms could be forced to up their prices by a fifth as Uber calls for cabbies across the country to pay VAT on their journeys. A High Court hearing is expected to be handed down this week after the ride-hailing giant sued Sefton Council about VAT terms operating outside of London. Since the 1970s, [...]
Exclusive: Getir teams up with Co-op as rapid delivery firm looks to grow UK presence October 26, 2022 Getir has joined forces with Co-op to deliver groceries from the retailer to consumers in a hurry. The rapid delivery firm will launch a pilot to offer app users hundreds of Co-op products across London from today. Nisa Retail, Co-op group’s wholesale division, will be working with Getir to supply the range of around 300 [...]
Weed is on the way: Uber Eats enters cannabis market as delivery giant starts dropping marijuana at home October 19, 2022 Uber Eats has confirmed plans to start delivering cannabis at home, thereby helping consumers to “steer them away from the underground market.” In a statement, the on-demand giant said it will begin delivering marihuana to customers in Toronto, Canada. The announcement follows a partnership between the company and online marijuana marketplace Leafly to deliver cannabis [...]
Uber Eats launch quick commerce partnership with Iceland October 18, 2022 Uber Eats has launched a new quick commerce offering this morning, trialling a new partnership with Iceland to deliver groceries across London. Following the success of rapid delivery start-ups like Gopuff, ‘Uber Eats Market’ will use Uber’s technology and Iceland’s in-store infrastructure to deliver goods in as little as 20 minutes. Over 1000 branded and [...]
Uber’s former security boss found guilty of criminal obstruction over data hack October 6, 2022 Uber’s former head of security has been found guilty of criminal obstruction for failing to tell US authorities about a 2016 database hack. The breach impacted 57 million Uber records and 600,000 driving-licence numbers, and led to former top dog Joe Sullivan to be fired in 2017. The San Francisco jury convicted Sullivan this week of [...]
Bolt to face court battle over drivers’ employment rights October 6, 2022 Ride-hailing app Bolt is set to face a class action lawsuit calling for it to class its drivers as workers rather than self-employed contractors. Law firm Leigh Day has filed a claim against Bolt on behalf of more than 1,600 of its drivers in calling on the Estonian tech company to give its drivers holiday [...]
Union launches collective grievance against Bolt over holiday pay September 22, 2022 The union GMB has launched a collective grievance on behalf of Bolt drivers over holiday pay. The union said it was seeking to secure “future and past of drivers’ earnings” when it comes to holiday pay, as the UK Supreme Court established an industry standard last year. “It’s a simple fact that Bolt owes drivers [...]