China’s Didi Chuxing is partnering with 12 auto giants including Renault-Nissan-Mitsubishi on a car-sharing platform February 7, 2018 Chinese ride-hailing behemoth Didi Chuxing announced today that it has launched a car-sharing platform alongside 12 auto giants including Geely Auto and Renault-Nissan-Mitsubishi. Didi said it intends to utilise its artificial intelligence strengths and national network to help the “entire automotive industry chain”. The company, which bought out Uber’s China business in 2016, said it [...]
Government to scrutinise employment status after rise of gig economy with Uber and Deliveroo February 7, 2018 The government will promise to scrutinise how workers are classified with a rising number of people working in the so-called gig economy, popularised by tech companies such as Uber and Deliveroo. Business and industry will be consulted on plans that could lead to changes to the current statuses that exist in law – employed, self-employed [...]
EBay just ditched PayPal for a fintech startup unicorn from Europe to process all its payments February 1, 2018 EBay is ditching PayPal, the US giant which used to be part of the online marketplace, and instead will be turning to a highly valued fintech startup from Europe as its main payments processor. The move is a huge vote of confidence for the startup, Adyen, and will fuel speculation around an IPO of the [...]
Neither a vaper nor a vegan be: Truss blasts Labour economic plans and rallies behind free enterprise January 30, 2018 Treasury secretary Liz Truss will this morning attack Labour’s economic policies, lambasting shadow chancellor John McDonnell’s vision of “a control economy”. She heralded free enterprise for driving down prices and creating jobs while “breaking down monopolies, hierarchies and outdated practices” in a speech at think tank the Policy Exchange. Britons no longer need to be [...]
Softbank plots digital payments raid with plans for Paypal rival January 28, 2018 Japanese technology giant Softbank is planning to create a global digital payments system that could rival giants such as PayPal, according to reports. The tech firm will lead a consortium back by some of the world’s biggest banks, City sources told the Sunday Times. Entering the global finance industry is seen as a key strategic [...]
The digital nomads: How to pack a suitcase and start a new life working from abroad January 25, 2018 Who among us hasn’t dreamed of jacking in their day job to trade forex from a laptop in Malibu or open a beach bar in Thailand? You might have read The 4-Hour Work Week by Tim Ferriss and asked why you haven’t yet “escaped the nine-to-five to live anywhere and join the new rich”. I [...]
Uber boss Dara Khosrowshahi says company can be profitable within three years January 23, 2018 The chief executive of ride-hailing app Uber has said the company can be profitable within three years. Speaking to Bloomberg at the World Economic Forum in Davos, Dara Khosrowshahi said the firm is becoming more efficient, though it will still maintain its expansion push. “At some point we absolutely have to become profitable and that’s [...]
Getting digital: Smart solutions for how to tax the gig economy January 23, 2018 After causing so much disruption to established organisations over the last few years, 2017 was the year the gig economy’s own set of growing pains came to the fore. Legal challenges, additional regulation, and uncertainty over employment classifications have all dominated the news reels. 2018 has opened with renewed pressure on the government to raise [...]
Uber will introduce a cap on driver hours in the UK from next week January 16, 2018 Uber will introduce a cap on the number of hours drivers can work in the UK after MPs criticised working conditions and raised concerns about safety risks from working long hours. Drivers will be forced to log out of the app and will be unable to accept rides for six hours after 10 hours of [...]
TfL doesn’t “fully understand” why passenger numbers are falling, says London Assembly Budget Committee January 16, 2018 London Assembly members are not convinced that Transport for London(TfL) "fully understands" why its passenger numbers are falling, according to a report out today. The London Assembly's Budget and Performance Committee has published a response to the mayor's draft budget, saying it was seeing more indications that TfL was experiencing "financial difficulties", which will impact [...]