Uber rival Bolt set to secure $100m in new funding November 26, 2019 Uber competitor Bolt is on the verge of securing more than $100m (£78m) in new funding. The Estonian ride-hailing app is working with Goldman Sachs on the new round of funding, just four months after raising £50m from new and existing backers. Read more: TfL bans Uber from London after a ‘pattern of failures’ Bolt, [...]
Uber keeps giving its critics what they want November 26, 2019 The relationship between Uber and regulator Transport for London (TfL) has always appeared to be one of mutual distrust. From its earliest incarnation the ride-hailing app left plenty of feathers ruffled after breezing into London and disrupting a market that had been the preserve of black cabs and minicabs. Read more: Why did Uber lose [...]
Why did Uber lose its London licence and what happens now? November 25, 2019 Transport for London’s (TfL) decision to not renew Uber’s licence may come as a shock to its 3.5m users in the capital, but what does it actually mean in the short-term? TfL cited various reasons to effectively ban Uber from the capital, but can Uber appeal it and if so, what are its chances of [...]
South Western Railway services to close early in December amid strikes November 25, 2019 Christmas parties across London will be scuppered next month, as late night train services face the chop amid 27 days of rail strikes. The strike, which begins next Monday, is on course to be the worst ever in the capital city, and will hit all services which run in and out of Waterloo, the busiest [...]
Uber shares slip after London licence loss November 25, 2019 Uber’s share price has slipped after falling close to a record-low in pre-market trading in response to the app’s loss of its London licence. Shares in the New York-listed company were down three per cent to $28.66 in pre-market trading, wiping almost $2bn off Uber’s market cap. However, shares trimmed losses to stand 1.4 per [...]
Uber ban: London business groups mourn ‘dark day’ November 25, 2019 Business groups have slammed the decision to not grant Uber a new operating licence in London, with one think tank calling it a “total disgrace”. Transport for London (TfL) announced this morning it had not renewed Uber’s licence, after a long-running battle over the company’s safety record. Read more: TfL bans Uber from London after [...]
TfL bans Uber from London after ‘pattern of failure’ leaves passengers at risk November 25, 2019 Transport for London (TfL) today effectively banned Uber from the capital, saying the company was not a “fit and proper” operator. TfL said safety breaches had “left passengers at risk” and that Uber did not have “a robust system for protecting passenger safety”. It added that a “pattern of failure” was behind its decision to [...]
Uber rivals sharpen their knives after ride-hailing app loses London licence November 25, 2019 Uber’s biggest London competitor has accused the company of having a “toxic corporate culture” and for being a habitual regulation dodger in the wake of the app losing its London operating licence. The announcement to ban the app came this morning in a sensational decision, which saw TfL find that Uber was “not fit and [...]
Controversial Silvertown Tunnel project gets the go-ahead from TfL November 25, 2019 The controversial Silvertown Tunnel is set to finally go ahead, after Transport for London (TfL) announced this morning it had finalised the project’s contract. TfL has officially awarded the contract to Riverlinx Consortium to design, build, finance and maintain the £1bn tunnel connecting Royal Docks and Greenwich. Read more: Silvertown Tunnel: Bringing London together or [...]
TfL ‘actively considering’ banning Uber from London November 25, 2019 Uber could be on the verge of a complete ban in the capital, with rumours swirling that Transport for London (TfL) may not renew its licence today. Uber’s operating licence runs out on Tuesday at midnight, after TfL only granted the ride-hailing app a two-month probationary extension in September. Read more: Uber ‘under pressure’ to [...]