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☆ Minnesota lawmakers strike minimum pay deal for Uber, Lyft drivers
▼ + stars: | 2024-05-19 | by ( Eva Rothenberg | ) edition.cnn.com time to read: +2 min

New York CNN —Minnesota government officials have struck a deal with rideshare companies Uber and Lyft to set minimum wage standards for drivers, lawmakers announced Saturday night. The rule was delayed after Lyft and Uber warned they would leave Minneapolis. State lawmakers have been focused on compromising with the companies before a July 1 deadline. Under the new agreement, the statewide minimum wage rate for rideshare drivers will be $1.28 per mile and $0.31 per minute. “We applaud the tens of thousands of riders & drivers who sent close to 100,000 emails to legislators — your voices were heard.

Persons: Uber, Lyft, Jamie Long, ” Long, ”, Erin Murphy, Josh Gold Organizations: New, New York CNN, Minnesota, Democratic, Minneapolis City Council, Governor Locations: New York, Minnesota, Minneapolis, State

☆ Uber will now let you book a shuttle to the airport
▼ + stars: | 2024-05-15 | by ( Clare Duffy | ) edition.cnn.com time to read: +3 min

New York CNN —Uber wants to make it cheaper to get a ride to the airport, concerts or sporting events. The rideshare company on Wednesday announced the launch of Uber Shuttle, an offering that will let users book up to five seats in a shuttle from a central location to an event or the airport – for less than the cost of a regular Uber ride. The cost of the shuttle rides won’t be affected by surge pricing, a common affliction when lots of people are looking for rides at the same time. Uber has previously rolled out early shuttle tests, including in India, and as an offering for corporate customers. Uber Shuttle will let riders book up to five seats in a shuttle to the airport or a concert or sporting event, for less than the cost of a regular Uber ride.

Persons: New York CNN — Uber, Uber, Dara Khosrowshahi, Camiel Irving Organizations: New, New York CNN, Wednesday, Uber Shuttle, Costco, Lyft Locations: New York, India, Chicago, Pittsburgh, Charlotte, Miami, New York City, Los Angeles, San Francisco, San Diego, Atlanta, Canada

☆ Chinese Grand Prix: Max Verstappen ‘on another planet’ after winning dramatic race, says Christian Horner
▼ + stars: | 2024-04-21 | by ( Issy Ronald | ) edition.cnn.com time to read: +2 min

CNN —Max Verstappen is racing “on another planet,” according to Red Bull team manager Christian Horner, after the three-time world champion dominated a crash-filled Chinese Grand Prix to record yet another victory. “His form is absolutely fantastic,” Horner told broadcaster Sky Sports. His dominance is such that he finishes every Grand Prix with a comfortable buffer; on Sunday, he crossed the finish line almost 14 seconds ahead of McLaren’s Lando Norris in second who recorded his 15th career podium. Mark Thompson/Getty ImagesVerstappen had led for almost the entire race, staying clear of the chaos behind him which included a Virtual Safety Car that turned into a full Safety Car prompted by Kick Sauber’s Valtteri Bottas’ engine failure and problems removing his car from the track. Just before the restart, Aston Martin’s Lance Stroll drove into the back of RB’s Daniel Ricciardo prompting another Safety Car and shaking up the race even further.

Persons: Max Verstappen, Red, Christian Horner, ” Horner, “ He’s, ” Verstappen, McLaren’s Lando Norris, Verstappen’s, Sergio Perez, Mark Thompson, Verstappen, Aston, RB’s Daniel Ricciardo Organizations: CNN, Red Bull, Sky Sports, Prix

☆ Mars volcano the size of Mount Everest was hiding in plain sight, report says
▼ + stars: | 2024-03-29 | by ( Jackie Wattles | ) edition.cnn.com time to read: +9 min

CNN —Scientists may have pinpointed a massive, oddly shaped volcano taller than Mount Everest on the surface of Mars — and it has been hiding in plain sight for decades, according to new research. Some of the largest volcanoes on Mars lie relatively close to the proposed “Noctis volcano.” Shown here: 1) Olympus Mons, the tallest known volcano in our solar system. This NASA visualization of the Tharsis rise shows Olympus Mons, Tharsis Montes, Noctis Labyrinthus, and Valles Marineris. NASA SVSA volcano, a glacier and the history of MarsThe existence of a volcano in Noctis Labyrinthus could also help explain the creation of this bizarre landscape. The existence of a volcano in the region, Lee said, might offer more support for the latter theory.

Persons: Everest, Pascal Lee, NASA SVS Lee, Sourabh, Lee, “ It’s, ”, NASA’s, Noctis Labyrinthus, “, ” Lee, Shubham, Adrien Broquet, we’ve, —, we’re, Noctis, Ernst Hauber, ” Hauber, David Horvath —, Tucson , Arizona —, Broquet, Horvath, ” Horvath, Carl Sagan Organizations: CNN —, Mars, Planetary Science Conference, Olympus, NASA, University of Maryland, College, CNN, NASA’s Mars Reconnaissance, Marineris, Humboldt Research, German Aerospace Center, SETI Institute, German Aerospace Center’s, of Planetary Research, Planetary Science Institute Locations: The Woodlands , Texas, That’s, Mars, Noctis, Valles, Tharsis Montes, Labyrinthus, Tucson , Arizona

☆ Uber: Taxi drivers in Australia win $179 million from ride-sharing giant
▼ + stars: | 2024-03-18 | by ( Hanna Ziady | ) edition.cnn.com time to read: +3 min

London CNN —Uber will pay more than 8,000 taxi and hire car drivers in Australia almost 272 million Australian dollars ($179 million) in compensation for losses they suffered after the ride-sharing giant entered the country in 2012, lawyers representing the drivers said Monday. It has also made “significant contributions to various state-level taxi compensation schemes” in Australia since 2018, according to the company. Uber now teams up with taxi drivers in many countries. “This caused loss of income to authorized taxi drivers and operators, and hire car operators. In a statement on its website, Uber Australia said ride-sharing regulations did not exist anywhere in the world when it launched more than a decade ago.

Persons: London CNN — Uber, Maurice Blackburn, Uber, ” Maurice Blackburn, “, ” Uber, —, ”, Elizabeth O’Shea, Letitia James, Lyft, Dhruv Tikekar Organizations: London CNN, Maurice Blackburn Lawyers, New York Locations: Australia, — Victoria, New South Wales, Queensland, Western Australia, United States, United Kingdom, York

☆ The average Uber and Uber Eats driver saw their earnings decline over 15% in 2023, per Gridwise
▼ + stars: | 2024-02-17 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +4 min

Over the past year, Uber drivers have told Business Insider that it’s gotten harder to make money . Gridwise told BI these earnings reflected the amount drivers took home after Uber took its cut of drivers' gross earnings. The average Uber driver’s earnings before expenses declined from $29 an hour in 2022 to $25 in 2023. Meanwhile, the average Uber Eats driver’s earnings fell from roughly $20 to $18 an hour before expenses — the average driver worked 27 hours a month. While Uber drivers saw the largest year-over-year decline in monthly pay, the average driver’s $25 an-hour earnings before expenses were still higher than any other gig.

Persons: Gridwise, Uber, it’s, haven’t, Lyft Organizations: Business, Bureau of Labor Statistics

☆ The big business of the Super Bowl, from competing advertisers to the ultrawealthy networking
▼ + stars: | 2024-02-09 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

In today's big story, we're looking at the big business of the Super Bowl, from advertisers to the ultraweal thy . Developing and filming a Super Bowl ad typically runs 50% to 60% more than a regular one. AdvertisementFor some first-time Super Bowl advertisers, the commercial is a jumping-off point for a bigger campaign, writes BI’s Lauren Johnson. The Super Bowl is also a calendar staple for the ultrawealthy, writes BI’s Madeline Berg. A record 68 million Americans are projected to bet $23.1 billion on the Super Bowl, according to the American Gaming Association.

Persons: —, Taylor Swift, Travis Kelce, Patrick Smith, Emily Stewart, that’s, Ryan Joe, Lara O’Reilly, Ryan, BI’s Lauren Johnson, RYU, BI’s Madeline Berg, Elon Musk, Rupert Murdoch —, VistaJet, BI’s Taylor Rains, Grace Kay, it’s, BI’s Juliana Kaplan, Cork Gaines, Usher, David Rosenberg, Quants, Getty, David Butow Here’s, Tesla, Sissie Hsiao, Bard, Gemini, Uber, Dara Khosrowshahi, Lucas Jackson, Dan DeFrancesco, Hallam Bullock, Jordan Parker Erb, George Glover Organizations: Business, Service, ign, Super, Elon, Private, American Gaming Association, San Francisco 49ers, Kansas City Chiefs, Renaissance Technologies, Man, AHL, UBS, Google, Reuters, Merchants, Conference, PepsiCo Locations: Sun Valley, YOLO, New York, London

Uber posted its first full-year profit since going public in 2019 and its stock hit an all-time high Wednesday as strong bookings in the final quarter of the year pushed profit and revenue beyond Wall Street expectations. Like its final year as a private company, the last time Uber turned a profit, it got a huge tailwind from investments that helped fuel profits, $1 billion in 2023. The company earned $595 million, or 29 cents per share, in the same period last year. Revenue totaled $9.94 billion, beating Wall Street projections for $9.75 billion. For the year, Uber posted a profit of $1.89 billion, or 87 cents per share, on revenue of $37.28 billion.

Persons: Uber, ”, Dara Khosrowshahi, lockdowns, William Blair's Ralph Schackart, Gross, Khosrowshahi Organizations: Industry, Zacks Investment Research, Revenue, Uber Technologies Inc Locations: San Francisco

☆ Netflix’s Head of Film to Depart
▼ + stars: | 2024-01-22 | by ( Nicole Sperling | More About Nicole Sperling | ) www.nytimes.com time to read: +1 min

News of Mr. Stuber’s departure came on the eve of the Oscar nominations. During his tenure, which began in 2017, Netflix has had eight films nominated for best picture, though a win in that category has proved elusive. “Scott has helped lead the new paradigm of how movies are made, distributed and watched,” Ted Sarandos, Netflix’s co-chief executive, said in a statement. “He attracted unbelievable creative talent to Netflix, making us a premiere film studio.”While Mr. Stuber’s slate of movies helped to boost Netflix’s business substantially, he often clashed with Mr. Sarandos over strategy. Mr. Stuber often tried to appease filmmakers by pushing for wider theatrical releases than Mr. Sarandos was willing to undertake.

Persons: Scott Stuber, Oscar, Martin Scorsese, Spike Lee, Jane Campion, Alfonso Cuarón, Stuber’s, “ Scott, Ted Sarandos, Netflix’s, “, Stuber, Sarandos Organizations: Netflix, ., Mr

☆ Uber is shutting down alcohol delivery app Drizly
▼ + stars: | 2024-01-15 | by ( Samantha Delouya | ) edition.cnn.com time to read: +1 min

CNN —Uber is shutting down its alcohol delivery app, Drizly, just three years after acquiring it for $1.1 billion. The alcohol delivery service operated as a standalone app, and its marketplace was to be integrated into Uber’s delivery app, Uber Eats. In an effort to ramp up its competitive edge in the delivery business, Uber also purchased another delivery company, Postmates, for $2.65 billion a few months before it acquired Drizly. Uber’s ridesharing business has bounced back in recent quarters, though. In November, Uber reported gross bookings for the third quarter that beat the company’s own expectations.

Persons: CNN — Uber, Uber, Pierre Dimitri Gore, Uber’s, “ We’re, ” Gore, Coty, Axios, Drizly Organizations: CNN, Coty Locations: North America

LOS ANGELES (AP) — Uber's stock is set to join the S&P 500 index later this month, the latest sign that the ride-hailing and delivery company is turning its business around after struggling through much of the pandemic. Inclusion in the S&P 500 can be a big boost for a stock because the index is widely tracked by many funds designed to mirror the holdings of the S&P 500, which is at the heart of many 401(k) accounts. Political Cartoons View All 1277 ImagesThe pandemic severely stymied Uber’s ride-hailing business as government lockdowns kept most people at home. Uber’s ride-hailing service, meanwhile, has since gradually bounced back. It wasn't until the third quarter when Uber qualified for inclusion in the S&P 500, with a trailing 12-month net income of $1.05 billion.

Persons: Dow, That’s, Uber’s, lockdowns, Uber, Wedbush Organizations: ANGELES, Dow Jones Indices, Uber Technologies Inc Locations: San Francisco

☆ Uber announces partnership with London’s iconic black cab taxis
▼ + stars: | 2023-11-28 | by ( Catherine Thorbecke | ) edition.cnn.com time to read: +3 min

CNN —Once bitter rivals fighting for control of London’s streets, Uber and the British capital’s iconic black cab taxis are now teaming up. Uber on Tuesday announced a new partnership with London’s black cab taxis that will let cab drivers opt in to gain access to Uber trip referrals. Uber said the first London cab drivers have already signed up, and service will roll out early next year. Many Londoners, meanwhile, take unique pride in the city’s black cab taxi service. When Uber drivers arrived on the scene, however, drivers for the app could simply rely on the app’s navigation systems.

Persons: Uber, ”, Andrew Brem, ” Hameed Hameedi, Hameedi, ” Hameedi Organizations: CNN, Uber, cabbies, New York Locations: British, hackney, London, Paris , New York, Rome

☆ White House Condemns G.O.P. Demands in Impeachment Inquiry
▼ + stars: | 2023-11-17 | by ( Luke Broadwater | More About Luke Broadwater | ) www.nytimes.com time to read: +1 min

The White House on Friday condemned House Republicans’ wide-ranging impeachment inquiry into President Biden, saying that there was no legitimacy to the investigation and that recent subpoenas and demands for congressional testimony from the former White House counsel, White House aides and Biden family members were “irresponsible.”“You appear so determined to impeach the president that you have misrepresented the facts, ignored the overwhelming evidence disproving your claims and repeatedly shifted the rationale for your ‘inquiry,’” Richard Sauber, a special counsel for Mr. Biden, wrote to Representatives James R. Comer, a Kentucky Republican who leads the Oversight Committee, and Representative Jim Jordan, an Ohio Republican who heads the Judiciary Committee. Mr. Sauber’s letter came after House Republicans demanded to interview Biden family members and issued a subpoena to Dana Remus, a former White House counsel under Mr. Biden. It was perhaps the strongest rebuke of the inquiry the Biden administration has issued. House Republicans are investigating myriad aspects of the Biden administration and have accused the president of accepting millions of dollars in bribes and altering U.S. policy to enrich his family, but they have not produced proof to back up their boldest claims. Their investigation has focused heavily on the president’s son, Hunter Biden, and work he did for companies and partners in Ukraine, China and other countries.

Persons: Biden, White, ’, Richard Sauber, James R, Comer, Jim Jordan, Sauber’s, Dana Remus, Hunter Biden Organizations: Republicans, White, Kentucky Republican, Ohio Republican, House Republicans Locations: Kentucky, Ohio, Ukraine, China

☆ How an Indian startup hacked the world
▼ + stars: | 2023-11-16 | by ( ) www.reuters.com time to read: +41 min

The Indian company hacked on an industrial scale, stealing data from political leaders, international executives, prominent attorneys and more. Run by a pair of brothers, Rajat and Anuj Khare, the company began as a small Indian educational startup. The Indian company hacked on an industrial scale, stealing data from political leaders, international executives, sports figures and more. Back in 2012, Kristi Rogers was an executive at Aegis, a London-based security company. Canadian security company GardaWorld, which acquired Aegis in 2015, said it had no information on the incident.

Persons: Chuck Randall, Randall, “, ” Randall, ”, Randall’s inbox, Appin, Rajat, Anuj Khare, Rajat Khare’s, Clare Locke, Khare “, Khare, ” Clare Locke, Ted Kaczynski, Anuj, who’ve, SentinelOne, Tom Hegel, Appin “, Hegel, Mandiant, ” Hegel, Shane Huntley, ” Huntley, Google’s Huntley, ‘, Jochi Gómez, Gómez, Halevi, Tamir Mor, Russian oligarch Boris Berezovsky, Mohamed Azmin Ali, ” Mor, Berezovsky, Azmin, Mor, Roman Abramovich, Mark Hastings, Hastings, didn’t, Jim H, ” Jim H, Jim H’s, Kristi Rogers, Mike Rogers, he’s, Global’s, sully, Rogers, Damian Perl, – “, Steven Santarpia, ” Santarpia, Santarpia, Leonel Fernández, ” Fernández, Rajat Khare, “ Let’s, Ministry of Home Affairs didn’t, Peter Hargitay, Stevie, Billing, ” Stevie, ’, ” Peter Hargitay, Mookhey, Norman Shark, Jonathan Camp, Shark, Camp, Norman, Dominican Republic –, Dan Brady, Sandra Schweingruber, ” Schweingruber, Schweingruber, Brady, ” Gómez, –, ” –, Anna Carter, Mark Califano, ” Rajat Khare’s, India’s, Educomp, Karen Hunter, Hunter, Bryan, Rajat’s, Vijay Kumar, Deepak Kumar, Kumar, ACSG, Jay Solomon, Solomon, ” Rebsec’s, Vishavdeep Singh, Rebsec, CyberRoot, Sumit Gupta, Gupta, Raphael Satter, Zeba Siddiqui, Christopher Bing, Ryan McNeill, Corinne Perkins, John Emerson, Marla Dickerson Organizations: Reuters, Google, Harvard University, U.S, Symantec, Appin, Caribbean, El, Israeli Defense Forces, Commando, Quillon Law, U.S . House Intelligence, The Michigan Republican, U.S . Senate, Aegis, Global Security, Security, Rogers, Army Corps of Engineers, Rotary, Aegis ’, Global, ” Reuters, Britain’s, Appin Software Security, Ltd, Appin Security, –, Research, Analysis, Intelligence Bureau, Indian, India’s Ministry of Home Affairs, India’s Ministry of Defense, of Home Affairs, Central Bureau of Investigation, CBI, Federal Bureau of Investigation, Ministry of Home Affairs, Telenor, Broadcom, FBI, Dominican, Criminal Investigation Service, Appin Security Group, CERT, country’s, Bureau of Investigation, Educomp, State Bank of India, State Bank, The National Security Agency, NSA, U.S ., Swiss, Appin Technology, India’s Ministry, Corporate Affairs, Control Security Global, Technology, Kumar, Facebook, Meta, BellTroX, Services, Street, New, Rebsec, BellTroX’s, Hire Locations: Long, New Delhi, India, Yorker, Paris, Swiss, cybersecurity, Appin, Dominican, California, “, Dominican Republic, El Siglo, United States, Britain, Switzerland, New York, French, New Jersey, Israel, Russian, Malaysian, London, Rwandan, Virginia, Canadian, Chuck@shinnecock.org, Texas, Indian, India’s Punjab, Pakistan, Zurich, Australia, Norway, Oslo, Brady, Former, ”, U.S, Islip, Shinnecock, Washington, cyberespionage

☆ Uber Reports Record Ridership and Second Straight Quarterly Profit
▼ + stars: | 2023-11-07 | by ( Kellen Browning | More About Kellen Browning | ) www.nytimes.com time to read: +1 min

Uber on Tuesday reported financial results that showed its business was continuing to steadily chug along — and even turn a profit — as more riders and drivers used its platform than ever before. That was Uber’s second straight quarterly profit on the strength of its own business operations — rather than from its investments in other companies — a milestone for a company that had long faced questions about its profitability. While other technology companies have endured mass layoffs and nagging questions about their businesses during the recent economic downturn, Uber has generally produced consistent, positive results over the last year. Its worst days came early in the pandemic, when travel ground nearly to a halt and drivers left the platform. The 6.5 million drivers who ferried passengers and food around the world in the past quarter was a record, Uber said.

Persons: Uber Organizations: Wall, Uber

☆ New York Attorney General announces $328 million in settlement funds from Uber and Lyft for ‘stealing earnings’
▼ + stars: | 2023-11-02 | by ( Catherine Thorbecke | ) edition.cnn.com time to read: +4 min

New York CNN —Thousands of rideshare drivers in New York may be eligible to receive significant back pay from Uber and Lyft as part of a settlement announced by the state attorney general on Thursday. New York Attorney General Letitia James announced two settlement funds totaling $328 million with rideshare companies Uber and Lyft for allegedly “cheating drivers out of hundreds of millions of dollars” in earnings, according to a statement from her office. The investigation also accuses Uber of misrepresenting deductions made to drivers’ pay in their terms of service. More than 100,000 drivers in New York stand eligible to receive settlement funds and expanded benefits. “This is a win for drivers, and one we are proud to have achieved with the New York Attorney General’s Office,” Bird said in a statement.

Persons: Letitia James, Uber, Lyft, James, ” James, ” James ’, James ’, Tony West, West, “, ”, ” West, Jeremy Bird, ” Bird, Bird Organizations: New, New York CNN, Uber, . New York, Black, Fund, New York Attorney, New York Locations: New York, York, New York City, Tony, New York State, California, Washington

☆ Uber will now do your returns for you
▼ + stars: | 2023-10-04 | by ( Jennifer Korn | ) edition.cnn.com time to read: +2 min

New York CNN —Uber is looking to help with a much-dreaded chore: returning packages. Uber’s newest tool aimed at tackling the problem is part of Uber Connect, the company’s existing service that lets users send items for day-of local delivery. With just a tap of the button in either Uber or Uber Eats, customers can now call a courier to collect as many as five pre-paid, sealed packages to be driven to the nearest needed shipping venue, be it a post office or a location for another shipper. Packages sent via Uber must be valued at under $100 and weigh in at under 30 pounds, according to the company. All packages will be returned for a flat fee of $5, the company said, though Uber One members get a discount as part of their subscription benefits.

Persons: New York CNN —, Uber, ’ Organizations: New, New York CNN, FedEx, UPS, CNN, National Retail Federation, Uber Connect Locations: New York

Yeah, you’re going to need one of those fancy pizza ovens to replicate this in your home. I think right now, every media company in the world is trying to figure out what replaces Twitter. And they say, you’re going to about to make the easiest money you’ve ever made in your entire life. You’re going to have more people beating a path down your door than you thought was possible. We now have Ubers that are so — I don’t know if you’ve looked at your Uber receipts recently.

Persons: kevin roose I’m, casey newton, kevin roose, casey newton They’re, kevin roose Gang, casey newton Oh, let’s, Kevin Roose, ” casey newton, Casey Newton, —, Casey, casey newton Mhmm, it’s, kevin roose I’d, you’re, you’ve, — casey newton, Sam Altman, casey newton Isn’t, that’s, Silly Putty, I’m, casey newton Well, Kevin, what’s, kevin roose Totally, casey newton I’ll, Unobtainium, James Cameron, You’ve, Meissner, we’re, There’s, they’re, casey newton Here’s, Twitch, kevin roose There’s, Iris_IGB, she’s, there’s, casey newton There’s, Russia she’s, I’ve, They’ve, hasn’t, ChatGPT, Claude, They’re, hydroxychloroquine, Joe Rogan, Bravo, “ Fortnite, casey newton That’s, we’ve, casey newton Kevin, India Venom, Lydia Tár, we’ll, don’t, casey newton Sure, ”, Joe Biden, casey newton I’m, casey newton Mike Masnick, he’s, Mike, — casey newton Look, who’d, It’s, HatGPT, kevin roose —, casey newton We’re, Rupert Murdaugh, Beast, James Donaldson, Jimmy Donaldson, a.k.a, Beast — casey newton James, Uber, Beast Burger, Burger, We’re, Meta, Abraham Lincoln, Facebook — Abraham Lincoln, casey newton It’s, kevin roose Oh, Abraham —, roose, casey newton Greg Rutkowski, Greg Rutkowski, Greg Rutkowski’s, Greg, You’re, casey newton Wow, Elon Musk, San Francisco NIMBYs, Don’t, kevin roose It’s, you’re Uber Organizations: Mmm, casey newton Mmm, The New York Times, Quantum Energy Research Center, collider, Twitter, Capitol, Federal Trade Commission, Netflix, Heritage Foundation, Republican, Democrats, Republicans, California, Tax, Facebook, YouTube, HatGPT, BBC, WordPress, Health Department, Financial Times, Ford Theater, ” Workers, San, Wall Street Locations: Seoul, Russian, Russia, India, KOSA, SESTA, The, Kashmir, tooting, Washington, San Francisco, Ha, Canada

Uber and Lyft drivers protest during a day-long strike outside Uber’s office in Saugus, Massachusetts, U.S., May 8, 2019. "The best antidote to unchecked corporate greed and rising inequality is building worker power through a union," Roxana Rivera, the head of the union in Massachusetts, said in a statement. The measures' proponents would then need to gather thousands of signatures to secure their placement on the ballot. The industry-backed proposal follows a similar 2020 measure in California, where the companies persuaded state voters to solidify ride-hail and food delivery workers’ status as independent contractors with some benefits. Reporting by Nate Raymond in Boston; Editing by David Gregorio and Jamie FreedOur Standards: The Thomson Reuters Trust Principles.

Persons: Brian Snyder, Uber, Roxana Rivera, Andrea Campbell, Nate Raymond, David Gregorio, Jamie Freed Organizations: REUTERS, BOSTON, Uber Technologies, Massachusetts Drivers, Labor, SEIU, 32BJ, Thomson Locations: Saugus , Massachusetts, U.S, Massachusetts, California, Boston

☆ Uber’s Business Is Finally Making Money After Years of Losses
▼ + stars: | 2023-08-01 | by ( Preetika Rana | ) www.wsj.com time to read: 1 min

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Persons: Dow Jones

☆ Uber’s post-pandemic growth is slowing
▼ + stars: | 2023-08-01 | by ( Catherine Thorbecke | ) edition.cnn.com time to read: +1 min

New York CNN —Uber has reported that its revenue ticked up 14% last quarter, marking a slower pace of growth than recent quarters when sales surged as riders returned to pre-pandemic habits. The company on Tuesday reported revenue of $9.2 billion for the quarter ending in June, a 14% increase from the same period last year, just missing Wall Street’s estimates. The company, reported its first-ever unadjusted operating profit, of $326 million. Trips during the quarter grew 22% to 2.3 billion, or approximately 25 million trips per day on average. “Robust demand, new growth initiatives, and continued cost discipline resulted in an excellent quarter,” Uber CEO Dara Khosrowshahi said in a statement accompanying the results.

Persons: New York CNN — Uber, Uber, ” Uber, Dara Khosrowshahi, ” Khosrowshahi Organizations: New, New York CNN Locations: New York

☆ Uber Posts 14% Rise in Revenue as Growth Slows
▼ + stars: | 2023-08-01 | by ( Yiwen Lu | More About Yiwen Lu | ) www.nytimes.com time to read: +1 min

Uber’s revenue increased 14 percent in its most recent quarter, the company reported on Tuesday, but the growth was its slowest since the coronavirus pandemic began easing last year. The San Francisco-based company posted revenue of $9.2 billion, up from $8.1 billion in the second quarter last year. The 14 percent growth was slower than the 105 percent increase a year earlier and down from 29 percent in the previous quarter. Uber’s gross bookings — the amount paid by customers — totaled $33.6 billion, up 16 percent from year earlier. “We are focused on driving significant demand in the years ahead — both by attracting new riders to Uber and by getting existing riders to use Uber more,” Dara Khosrowshahi, the chief executive, said in a statement.

Persons: Dara Khosrowshahi Organizations: Wall Street Locations: San Francisco

☆ Uber drives further up the road to redemption
▼ + stars: | 2023-08-01 | by ( ) www.reuters.com time to read: +2 min

Uber branding is seen on private hire vehicle parking rank at Chopin Airport in Warsaw, Poland, March 22, 2023. NEW YORK, Aug 1 (Reuters Breakingviews) - Uber Technologies (UBER.N) Chief Executive Dara Khosrowshahi is shifting the ride-hailing company into a higher gear, but investors are lagging behind. Uber shares fell almost 6% on Tuesday morning, taking some of the shine off a stock that has almost doubled since the beginning of the year. Khosrowshahi remains some way from his destination on the road to redemption. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Dara Khosrowshahi, Lyft, Tony Xu, Jennifer Saba, Aston Martin, Steve Cohen, Peter Thal Larsen, Sharon Lam Organizations: Chopin, NEW, Reuters, Technologies, Twitter, Thomson Locations: Warsaw, Poland, DoorDash, Khosrowshahi, Japan, India

☆ Uber’s Grand Plan to Go All-Electric in London Ran Into Gridlock
▼ + stars: | 2023-07-29 | by ( Sam Schechner | Preetika Rana | ) www.wsj.com time to read: 1 min

Persons: Dow Jones

☆ Byju’s virtue-signalling is late but valuable
▼ + stars: | 2023-07-14 | by ( ) www.reuters.com time to read: +2 min

India’s once-most valuable startup is luring big talent even after its auditor Deloitte resigned and three investors including Prosus (PRX.AS) quit the company’s board. His experience navigating government departments will be handy as the Ministry of Corporate Affairs ordered an inspection of Byju’s books per Bloomberg. It also could shore up Byju’s hopes of raising cash from new investors to meet creditor demands for early repayment of a $1.2 billion loan. Prosus for example thinks the company is only worth $5.1 billion, down from a peak valuation of $22 billion. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Rajnish Kumar, Mohandas Pai, India’s, Kumar, Pai, Byju Raveendran, Divya Gokulnath, Pranav Kiran, Una Galani, Thomas Shum Organizations: Reuters, State Bank of India, Infosys, Deloitte, Ministry of Corporate Affairs, Bloomberg, Twitter, Thomson Locations: Bengaluru

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