Uber confident on profit as US demand rebounds in 2023 TRANSPORT 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 Home Office crackdown 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 CBI crisis 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 [...]
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 [...]