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Circuit Court of Appeals that evidence Liu did present, including a survey his lawyers conducted of thousands of Uber drivers, was enough to send the case to trial. The survey showed that minorities were significantly more likely to be kicked off of Uber for having low ratings. The judge had said that the survey was inadequate because it only polled people who, like Liu, were barred from driving for Uber and not the overall population of Uber drivers. Uber, which has denied that its rating system is discriminatory, did not respond to a request for comment on Wednesday. The EEOC's involvement in a case can be persuasive to courts because the agency is tasked with interpreting federal anti-discrimination laws.

☆ Uber to offer Tembici's bike-sharing service in Latin America
▼ + stars: | 2023-04-05 | by ( ) www.reuters.com time to read: +2 min

SAO PAULO, April 5 (Reuters) - Uber Technologies Inc (UBER.N) on Wednesday announced a deal with Brazilian bike-sharing company Tembici to make electric and common bicycles available on its app in Latin America amid a push for greener initiatives. "This partnership underscores the important role that car-free options are increasingly playing in Uber's strategy to achieve zero carbon emissions," said Annie Duvnjak, Uber's global micromobility general manager. The company expects to end 2023 with 30,000 bicycles on Latin American streets, a third of them electric. Uber said Tembici and Itau bike docking stations would "soon" appear in its app, but did not provide a specific date. ($1 = 5.0961 reais)Reporting by Gabriel Araujo Editing by Marguerita ChoyOur Standards: The Thomson Reuters Trust Principles.

☆ Lyft Staff Pressed Founders for Change as Uber Pulled Ahead
▼ + stars: | 2023-04-01 | by ( Preetika Rana | Emily Glazer | ) www.wsj.com time to read: 1 min

Lyft Inc.’s leadership change this week followed months of discontent among some employees over the company’s shrinking market share and stock price. As the ride-share company has struggled with competition from Uber Technologies Inc., some people within the company had been questioning the leadership of its co-founders—Chief Executive Logan Green and President John Zimmer —for months. Some investors and stock analysts also had urged change.

☆ Lyft shares jump as Wall Street welcomes CEO change
▼ + stars: | 2023-03-28 | by ( Aditya Soni | ) www.reuters.com time to read: +2 min

Lyft said on Monday co-founders Logan Green and John Zimmer would step down as CEO and president, respectively, handing the reins to David Risher who has been a board member since 2021. Risher was among the first employees at Amazon.com Inc(AMZN.O) and served as the e-commerce giant's first head of product. Risher's experience on Lyft's board also gives him a strong command of the business relative to the average incoming CEO, RBC Capital Markets said. Lyft's shares were trading at $10.20 on Tuesday. Rival Uber also had a CEO change in 2017, when it hired then Expedia Inc (EXPE.O) top boss Dara Khosrowshahi.

March 17 (Reuters) - A U.S. appeals court on Friday revived a lawsuit by Uber Technologies Inc (UBER.N) and subsidiary Postmates Inc challenging a California law that makes it more difficult for them to save money by treating workers as independent contractors. Circuit Court of Appeals said the state must face claims that the law known as AB5 is unconstitutional because it improperly singles out the industry while exempting many others. The decision comes after a California state appeals court on Monday revived a ballot measure passed by nearly 60% of voters in 2020 that exempts app-based transportation services such as Uber and rival Lyft Inc (LYFT.O) from the scope of AB5, which had been struck down by a judge. Uber and the California Attorney General's office did not immediately respond to requests for comment on the decision. That means Uber is subject to the law while pet-sitting service Wag, which has been called "Uber for dogs," is not.

March 17 (Reuters) - A U.S. appeals court on Friday revived a lawsuit by Uber Technologies Inc (UBER.N) and subsidiary Postmates Inc claiming a California law that makes it more difficult for them to save money by treating workers as independent contractors is unconstitutional. In a major win for the gig economy, which heavily relies on contractors, the 9th U.S. Circuit Court of Appeals said the state must face claims that the law improperly singles out "gig economy" companies while exempting other industries. Reporting by Daniel Wiessner in Albany, New YorkOur Standards: The Thomson Reuters Trust Principles.

Diners said this forced them to pay artificially high prices for meals they ordered elsewhere. In response, the companies said that by accepting the terms of use for their platforms, diners agreed to arbitrate their claims individually and not pursue a class action in court. The diners' claims "are based solely on purchases made directly from restaurants or from non-defendant meal-delivery platforms," Kaplan wrote. Grubhub, Uber Eats, Postmates and their respective lawyers did not immediately respond to requests for comment. Grubhub is owned by Netherlands-based Just Eat Takeaway.com (TKWY.AS), while Uber Eats and Postmates are owned by Uber Technologies Inc (UBER.N).

☆ Wall Street ends green as inflation cools, bank jitters ebb
▼ + stars: | 2023-03-14 | by ( Stephen Culp | ) www.reuters.com time to read: +4 min

Financial stocks clawed back some losses, with the S&P 500 Banks index (.SPXBK) coming back from its steepest one-day sell-off since June 2020. Bank contagion fears were allayed on Tuesday as reassurances by U.S. President Joe Biden and other global policymakers vowed the crisis would be contained. Even so, inflation has a considerable way to go before approaching the central bank's average annual 2% target. [1/4] Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., March 14, 2023. The S&P 500 banking index (.SPXBK) reclaimed territory lost to Monday's plunge, its biggest one-day drop since June 2020.

Consumer Price Index (CPI) rose 0.4% in February from 0.5% in January as Americans faced persistently higher costs for rents and food. On a yearly basis, the CPI rose 6% in February, compared with 6.4% the previous month. The S&P 500 banking index (.SPXBK) rose 2.9% after recording its biggest one-day percentage drop since June 2020 in the previous session. Advancing issues outnumbered decliners by a 6.05-to-1 ratio on the NYSE and by a 3.52-to-1 ratio on the Nasdaq. The S&P index recorded two new 52-week highs and five new lows, while the Nasdaq recorded 18 new highs and 79 new lows.

Data showed that U.S. Consumer Price Index (CPI) rose 0.4% in February versus 0.5% a month ago. Traders held on to bets of a 25-basis-point rate hike at the Fed's next meeting in March, with odds of a pause in hikes slipping a bit to 17%. The S&P 500 banking index (.SPXBK) rose 3.9% after recording its biggest one-day percentage drop since June 2020 in the previous session. Advancing issues outnumbered decliners by a 7.92-to-1 ratio on the NYSE and by a 4.87-to-1 ratio on the Nasdaq. The S&P index recorded no new 52-week highs and no new lows, while the Nasdaq recorded 9 new highs and 36 new lows.

☆ Uber, Lyft Score Victory as California Court Affirms Right to Treat Drivers as Contractors
▼ + stars: | 2023-03-14 | by ( Preetika Rana | ) www.wsj.com time to read: 1 min

Uber and similar companies are in a global tug of war with regulators over whether and how to grant more benefits to workers. Uber Technologies Inc., Lyft Inc. and other companies scored a victory with a California court ruling that preserves their independent-contractor model in the state and could boost their efforts to maintain that model elsewhere. A state appeals court reversed a lower-court ruling that found a California ballot measure known as Proposition 22 illegal. Proposition 22, which passed in November 2020, allowed these companies to continue to treat their drivers as independent contractors.

A three-judge panel of the San Francisco-based court reversed a lower court ruling in 2021 that the ballot measure, known as Proposition 22, was unconstitutional. The Service Employees International Union (SEIU) and several gig drivers who challenged Prop 22 will likely appeal the decision to the California Supreme Court, the state's top court. Prop 22 was approved in November 2020 by nearly 60% of voters in California. It exempted app-based drivers from a 2019 state law known as AB5 that makes it difficult to classify workers as independent contractors rather than employees. "Across the state, drivers and couriers have said they are happy with Prop 22, which affords them new benefits while preserving the unique flexibility of app-based work," West said.

☆ Uber explores logistics unit sale, IPO - Bloomberg News
▼ + stars: | 2023-03-08 | by ( ) www.reuters.com time to read: +1 min

March 8 (Reuters) - Uber Technologies Inc (UBER.N) is exploring whether to spin off its Uber Freight logistics unit in a sale or as a separate publicly traded firm, Bloomberg News reported on Wednesday, citing people familiar with the matter. If the company lands on an IPO, it may not happen until next year and will depend on market conditions, the report added. Uber launched the freight division in 2017 and acquired logistics firm Transplace in 2021 for $2.25 billion. Uber Freight connects truckers with shippers, acting as a middle-man in the long-haul trucking business. In January, the division said it would lay off roughly 150 employees, or about 3% of its workforce.

☆ Uber's Mideast business Careem to cease operations in Qatar
▼ + stars: | 2023-02-27 | by ( Reuters Staff | ) www.reuters.com time to read: +1 min

FILE PHOTO: A customer uses Careem application with his smartphone in Mosul, Iraq September 25, 2019. REUTERS/Abdullah RashidDOHA (Reuters) - Uber’s Middle Eastern business Careem will cease operations in Qatar on Tuesday, the company announced in a message sent to customers in the Gulf Arab state on Monday. “Unfortunately, Careem’s ride hailing operations will no longer operate in Qatar as of February 28, 2023,” said the message, which also informed customers holding Careem credit that the company would issue a full refund by March 15. Careem was bought by Uber Technologies Inc in 2019 for $3.1 billion, giving the U.S. firm market dominance across the Middle East and Pakistan. Uber’s smart phone application offers ride-hailing services in Qatar and continued to operate normally late Monday.

☆ Uber says Delhi's plans to allow only electric bike taxis to impact millions
▼ + stars: | 2023-02-24 | by ( ) www.reuters.com time to read: +2 min

Companies Uber Technologies Inc FollowBENGALURU, Feb 24 (Reuters) - Uber Technologies Inc (UBER.N) said on Friday plans by the local government in India's Delhi city to only allow electric vehicles to function as bike taxis would risk "finishing off the sector" and impact the mobility needs of millions. Uber, in a blogpost, said any such move would put at risk the livelihood of over 100,000 drivers in the city. Uber has set a 2040 target for 100% of its rides to be in zero-emission vehicles, public transport or with micro-mobility, including in India. Earlier this month, Uber announced plans to introduce 25,000 EVs over three years in India. Uber, which offers bike rides in Delhi and many other states in India, did not respond to a Reuters request for a comment on the advertisement.

☆ DoorDash beats revenue estimates as consumer demand remains strong
▼ + stars: | 2023-02-16 | by ( Granth Vanaik | ) www.reuters.com time to read: +2 min

DoorDash continues to see consumers order more frequently, a company spokesperson told Reuters, adding that in 2022 it saw more consumers use the platform than ever. Total orders rose 27% to 467 million in the fourth quarter from the prior year. The San Francisco-based firm's revenue jumped 40% to $1.82 billion in the quarter ended Dec. 31. DoorDash expects full-year adjusted EBITDA, a measure of profitability, between $500 million and $800 million, compared with analysts' expectation of $591.8 million. Current finance chief Prabir Adarkar will take over as chief operating officer from Christopher Payne, who is retiring.

☆ Uber and Lyft Claim Big Gains for Their Ad Businesses
▼ + stars: | 2023-02-15 | by ( Patrick Coffee | ) www.wsj.com time to read: +4 min

Ride-hailing companies Uber Technologies Inc. and Lyft Inc. each say their nascent advertising businesses have grown significantly in recent months. PREVIEWThe ride-hailing rivals’ ad businesses are also important for the companies’ growth. Uber said increased ad revenue in the latest quarter was a key growth driver for its overall business. Lyft ad revenue increased “nearly seven times” in the fourth quarter compared with the previous quarter, according to Mr. Greenberger. But the companies’ ad prices offer a glimpse at their respective positions in the market.

☆ Uber Signs Cloud Deals With Google and Oracle
▼ + stars: | 2023-02-13 | by ( Belle Lin | ) www.wsj.com time to read: +5 min

Over 95% of Uber’s IT is currently housed in those data centers, he said. Uber declined to comment on how it plans to spread its data and applications between Google and Oracle’s cloud platforms. While Uber and Google have an existing partnership, the new cloud deal brings them closer together in other areas including launching new services, said Google Cloud Chief Executive Thomas Kurian. With Oracle, Uber is planning to integrate its freight business into Oracle’s cloud-based enterprise resource planning system, as well as other database-related projects, said Oracle Cloud Executive Vice President Clay Magouyrk. Mr. Zargahi said Uber eventually expects the cloud to cost less than its data centers, and will not renew certain data center leases as it moves to the cloud.

☆ Uber, Spurred by Hardware Supply Disruptions, Moves to Multiple Cloud Providers
▼ + stars: | 2023-02-13 | by ( Belle Lin | ) www.wsj.com time to read: +3 min

Over 95% of Uber’s IT is currently housed in those data centers, he said. Uber declined to comment on how it plans to spread its data and applications between Google and Oracle’s cloud platforms. PREVIEWA tipping point came during the Covid-19 pandemic, when supply-chain disruptions pushed IT hardware delivery timelines to more than 12 months, according to Mr. Zargahi. Mr. Zargahi said Uber eventually expects the cloud to cost less than its data centers, and won’t renew certain data center leases as it moves to the cloud. With Oracle, Uber also is planning to integrate its freight business into Oracle’s cloud-based enterprise resource planning system, as well as other database-related projects, said Oracle Cloud Executive Vice President Clay Magouyrk.

☆ Lyft Shares Fall After Unexpected Loss, Weak Outlook
▼ + stars: | 2023-02-10 | by ( Dean Seal | ) www.wsj.com time to read: 1 min

Lyft Inc.’s shares sank by more than a third on Friday after the ride-hailing company posted an unexpected quarterly loss and concerns mounted that it was falling further behind Uber Technologies Inc.More than a dozen Wall Street analysts cut their price target for the stock, while six downgraded the stock’s rating, after Lyft reported underwhelming revenue growth and an adjusted quarterly loss of 74 cents a share. Wall Street analysts expected a profit of 13 cents when adjusted for certain items, according to FactSet.

☆ The 2023 Super Bowl Ads Will Feature Booze, Betting and Jesus
▼ + stars: | 2023-02-10 | by ( Megan Graham | Patrick Coffee | ) www.wsj.com time to read: +10 min

The Super Bowl ads on Sunday are poised to promote an unusual mix of alcohol brands, gambling and Jesus. The Super Bowl still regularly draws an audience of around 100 million people, making it TV’s biggest event of the year and advertising’s biggest night. Planters’ Super Bowl ad features comedians mocking Mr. Peanut. The ads are likely to strike a lighter tone than the occasionally somber messages of Super Bowl ads in recent, highly politicized years or the early pandemic, said Anjali S. Bal, an associate professor of marketing at Babson College. Many Super Bowl advertisers have again released their ads well before Super Bowl Sunday to increase their chances of being seen.

☆ Finance Chiefs, Facing Another Year of Persistent Inflation, Prioritize Cost Savings
▼ + stars: | 2023-02-10 | by ( Kristin Broughton | ) www.wsj.com time to read: +6 min

Finance chiefs are pushing their companies to do more with less as they face another year of rising costs. Obviously, we’re dealing with a very unique environment right now with the unprecedented level of cost inflation. But we’re not in that environment right now. Ideally, we can grow as the demand environment hopefully normalizes. And that’s going to give us more optionality as we better understand our demand for AI over time.

☆ Futures fall amid rising yields; Lyft sinks on dour profit outlook
▼ + stars: | 2023-02-10 | by ( ) www.reuters.com time to read: +1 min

SummarySummary Companies Futures down: Nasdaq 0.79%, S&P 0.37%, Dow 0.18%Feb 10 (Reuters) - U.S. stock index futures slipped on Friday, with megacap growth companies under pressure after Treasury yields extended gains, while shares of Lyft plunged as the ride-hailing firm forecast current-quarter profit far below estimates. The Nasdaq Composite (.IXIC) eyed its first weekly fall this year, tracking declines of nearly 2%. U.S. stock indexes fell in the previous session as Treasury yields gained after an auction of 30-year bonds went poorly. Rising Treasury yields put valuations of growth stocks under pressure, which was also a recurring theme for 2022. ET, Dow e-minis were down 60 points, or 0.18%, S&P 500 e-minis were down 15 points, or 0.37%, and Nasdaq 100 e-minis were down 97.75 points, or 0.79%.

☆ Lyft's weak revenue forecast knocks down shares
▼ + stars: | 2023-02-09 | by ( ) www.reuters.com time to read: +2 min

Feb 9 (Reuters) - Lyft Inc (LYFT.O) on Thursday forecast current-quarter revenue below Wall Street estimates, blaming the impact of extremely cold weather on some of its major markets and lower prices during peak hours, sending its shares tumbling 28%. Lyft forecast first-quarter revenue of about $975 million, which fell below analyst estimates of $1.09 billion, according to Refinitiv data. Lyft forecast first-quarter adjusted earnings before interest, taxes depreciation and amortization (EBITDA), a key measure of profitability that strips out some costs, of between $5 million and $15 million. For the fourth quarter, Lyft reported an adjusted EBITDA of $126.7 million, excluding the $375 million it had set aside for increasing insurance reserves. Active riders rose 8.7% to 20.36 million for the fourth quarter, Lyft said, above the FactSet estimate of 20.30 million.

☆ Uber Posts Higher Revenue and Adjusted Profit as People Spend More on Rides
▼ + stars: | 2023-02-08 | by ( Sarah E. Needleman | ) www.wsj.com time to read: 1 min

A looming question for Uber is whether consumers, squeezed by inflation, will continue to spend as much as they used to. Uber Technologies Inc.’s revenue and adjusted earnings grew last quarter as people spent more on rides and food delivery despite concerns about high inflation rates and a weakening economy. The ride-hailing company said Wednesday that revenue for the three months through December reached $8.6 billion, a 49% increase from a year earlier.

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