Sadiq Khan vows to take on Uber ‘big boys’ in licence decision August 29, 2019 Sadiq Khan has vowed to take on the “big boys” at Uber when it comes to renewing its licence, which expires next month. The London mayor, who revoked Uber’s licence in 2017, said everyone must play by the rules if they want to operate in the capital. Read more: Uber poaches new UK boss from [...]
Former Uber driverless guru charged with stealing secrets from Google August 27, 2019 One of Uber’s former star engineers is facing years in prison after he was yesterday charged with stealing secrets from Google. Anthony Levandowski, one of the world’s leading developers of driverless technology, allegedly took information with him when he left the search giant’s Waymo unit. Read more: Car crash: Uber shows record loss in new [...]
Facebook libra: Could regulators crush Mark Zuckerberg’s dream cryptocurrency? August 27, 2019 Mark Zuckerberg’s decision this summer to launch a digital currency – Facebook libra – sparked the interest and concern of regulators around the world. Watchdogs have warned that without tight regulations libra could be used for money laundering and financing terrorism. They have also raised concerns over the potential risks it poses to data protection [...]
Overcrowding is the worst thing about London transport, survey finds August 22, 2019 Overcrowding is the main gripe Londoners have with the transport system, a new survey has found. More than half of Londoners think crammed trains and Tubes are the worst thing about public transport in the capital, according to a YouGov survey commissioned by the London Assembly’s transport committee. Read more: Ride the UK heatwave: Here [...]
Stamp duty contortions and eco-warriors with private jets? Welcome to silly season August 21, 2019 August is traditionally the silly season. Brexit makes this year slightly different, of course, but it is good to see a fine British tradition still being preserved. Silly stories abound. Sajid Javid was linked (erroneously, he now claims) with the idea of fixing the housing market by making sellers pay the stamp duty rather than the [...]
Uber poaches new UK boss from Twitter founder Dorsey’s Square August 19, 2019 Uber has nabbed one of Twitter chief Jack Dorsey’s right-hand staff as its new general manager for its operations in the UK and Ireland. Melinda Roylett, who was most recently head of Europe at Dorsey’s fintech firm Square, will start her role at Uber today, City A.M. can reveal. Before joining Wall Street-listed Square last [...]
Softbank suffers £380m writedown in Oneweb stake August 18, 2019 Softbank is said to have written down its stake in Oneweb by £380m as the British satellite company contends with the sky-high costs of its planned launches. Oneweb has burned through billions of pounds as it looks to create a network of satellites providing high-speed broadband across the globe. Read more: Oneweb lands $1.25bn in [...]
Wework lost $700m in first half, pre-IPO filing shows August 14, 2019 Wework lost nearly $700m (£580m) in the first half of the financial year, even as revenue doubled, the company announced in its first detailed financial results yesterday. The company, the listing of which next month is expected to value the business in the tens of billions, said it has no plans to start paying dividends [...]
Luxury car imports jump as super-rich look to swerve Brexit costs August 12, 2019 The number of luxury car imports has risen sharply over the last year, as wealthy individuals rush to bring high-end motors to the UK ahead of a potential no-deal Brexit. A total of 3,830 cars were imported in the last financial year, up 16 per cent on the previous 12 months, according to law firm [...]
Car crash: Uber shows record loss in new results August 8, 2019 Uber disappointed investors yesterday as the ride-hailing app showed its biggest-ever loss, and slowest revenue growth. Second-quarter net loss hit $5.2bn (£4.3bn), widening from $878m, as the company paid up $3.9bn for its May listing. Read more: Lyft off: Ride-hailing app makes inroads as it beats expectations Finance chief Nelson Chai said the company had [...]