Barclays: Uber, Lyft ‘Well Positioned’ to Turn a Profit
A new analysis by Barclays Capital of about 2.4 billion taxi and ride-hailing trips in New York City addresses the biggest question investors have about Uber Technologies Inc. and Lyft Inc. When will they turn a profit?
December 10, 2019Uber Loses License in London Over Safety, Vows to Appeal
LONDON — London’s transit authority Nov. 25 refused to renew Uber’s operating license over concerns about impostor drivers, with the ride-booking company vowing to appeal the decision as it struggles to secure its future in the British capital.
November 25, 2019NTSB Calls Uber’s Fatal Crash a Lesson for All Automated Vehicle Testing
A 2018 fatal pedestrian crash involving an Uber Technologies Inc. automated vehicle in Arizona indicates that the challenges of self-driving vehicle operations have not yet been solved, and underscores a lack of sufficient federal and state oversight of developmental automated vehicle testing, investigators with the National Transportation Safety Board said at a Nov. 19 hearing in Washington.
November 19, 2019NTSB Slams Uber Self-Driving Car Unit’s Safety Culture
Uber Technologies Inc.’s self-driving vehicle unit lacked an effective safety culture at the time when one of its test vehicles struck and killed a pedestrian in Tempe, Ariz., in 2018, National Transportation Safety Board Chairman Robert Sumwalt said Nov. 19.
November 19, 2019Juno, Once Billed as the ‘Anti-Uber,’ Shuts Down in New York
Ride-booking startup Juno once billed itself as the “anti-Uber”— a kinder, gentler way to get a ride. It’s now closing down its New York-based operations, and inviting customers to join Lyft Inc.
November 18, 2019New Jersey Seeks $640M From Uber for Misclassifying Workers
TRENTON, N.J. — New Jersey is seeking more than $640 million from Uber in taxes and penalties, saying the ride-booking company misclassified its drivers as independent contractors.
November 14, 2019Lyft Forecasts Profit by End of 2021, Sending Shares Surging
Ride-hailing company Lyft Inc. is expected to turn a profit by the end of 2021, a year earlier than analysts had expected, company executives said.
October 22, 2019Uber to Acquire Chilean Grocery Startup That Walmart Failed to Buy
Uber Technologies Inc. plans to buy a majority stake in online grocer Cornershop, a deal designed to both extend its geographic reach and bolster profits by bundling food delivery with rides.
October 11, 2019Uber to Cut 300 Jobs in Bay Area
Uber Technologies has chopped 300 jobs in the Bay Area, including hundreds in San Francisco and dozens in Palo Alto, a state government filing shows.
September 27, 2019Ex-Uber Engineer Anthony Levandowski Publicly Rebuts Theft Claims
Former Uber Technologies Inc. engineer Anthony Levandowski broke his long silence about allegations that he stole driverless vehicle technology from Alphabet Inc.’s Waymo unit to say that he didn’t do it.
September 25, 2019