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☆ Uber sets sights on profits in 2023 as pandemic pain eases
▼ + stars: | 2023-02-08 | by ( ) www.reuters.com time to read: +2 min

"The pandemic's impact on our Mobility business is now well and truly behind us," Khosrowshahi said. Shares of smaller rival Lyft (LYFT.O) rose as well following Uber's upbeat forecast. Uber, which operates in over 70 countries and 10,000 cities, said new rideshare products such as pre-booking, shared rides, car rentals and car-sharing was also boosting revenue. Analysts have raised concerns about smaller rival Lyft losing market share to Uber. Rideshare revenue surged 82%.

☆ Wall Street falls on rate hike worries
▼ + stars: | 2023-02-08 | by ( Johann M Cherian | ) www.reuters.com time to read: +3 min

Money market participants are now betting the U.S. central bank's benchmark rate to rise above 5% in May before peaking to 5.18% by July, levels that officials have backed vociferously. Of all the S&P 500 companies that have reported quarterly earnings, 69% of them have beaten expectations, according to Refinitiv. Uber Technologies Inc (UBER.N) rose 0.7% on upbeat earnings expectations for the year. Declining issues outnumbered advancers for a 1.86-to-1 ratio on the NYSE and a 2.05-to-1 ratio on the Nasdaq. The S&P index recorded eight new 52-week highs and two new lows, while the Nasdaq recorded 56 new highs and 18 new lows.

☆ Uber to steal a march on Lyft in resurgent rideshare market
▼ + stars: | 2023-02-07 | by ( ) www.reuters.com time to read: +3 min

Feb 7 (Reuters) - Uber Technologies Inc's (UBER.N) revenue growth is set to outpace that of rival Lyft Inc (LYFT.O) as the rideshare firm's presence in major markets around the world gives it the heft to deal with inflationary pressures. Dara Khosrowshahi-led Uber operates in multiple regions and has over the years built a massive food and grocery delivery business, while Lyft has mainly focused on rideshare in the United States. "Lyft is on the losing end of Uber's mobility and delivery network effect ... in a world of increasing focus on profitability, Lyft does not deliver," MoffettNathanson analyst Michael Morton said. Analysts expect a fourth-quarter revenue increase of 19% for Lyft and 47% for Uber, according to Refinitiv data. "When we look at driver time spent data on a 2-year growth basis our concerns on Lyft losing market share are magnified ... we come away more concerned about Lyft's need to invest in incentives," UBS analyst Lloyd Walmsley said.

☆ Disney, Pepsi, Uber Set to Report During Lackluster Earnings Season
▼ + stars: | 2023-02-04 | by ( Dia Gill | ) www.wsj.com time to read: 1 min

PepsiCo Inc., Uber Technologies Inc. and Walt Disney Co. are among the companies slated to report earnings in the coming week, during an earnings season marked by cooling demand and throttled profits. Investors will also hear from the food makers Kellogg Co. and Tyson Foods Inc., the healthcare companies CVS Health Corp. and AbbVie Inc., as well as the private-equity firms KKR & Co. and Apollo Global Management Inc. Other companies reporting earnings include PayPal Holdings Inc., S&P Global Inc. and Chipotle Mexican Grill Inc.

☆ Self-driving tech firm Aurora names Ossa Fisher as president
▼ + stars: | 2023-01-30 | by ( ) www.reuters.com time to read: +1 min

Jan 30 (Reuters) - Aurora Innovation Inc (AUR.O) on Monday named Ossa Fisher as president to focus on scaling operations at the self-driving technology company ahead of its commercial launch in 2024. Fisher is expected to begin at the new role in February and joins Aurora from education tech firm Istation, where she had served as president and chief operating officer since 2019. Last month, Aurora and Uber Technologies Inc (UBER.N) said they will expand their driverless pilot program in Texas to meet increased delivery demand during the holidays. Aurora's shares, which lost nearly 90% of their value last year, were down about 2% in extended trading. Reporting by Manya Saini in Bengaluru; Editing by Devika SyamnathOur Standards: The Thomson Reuters Trust Principles.

☆ State Department Issues Warning for Travelers Taking Ubers in Cancún
▼ + stars: | 2023-01-26 | by ( Allison Pohle | ) www.wsj.com time to read: 1 min

Travelers to some popular Mexican tourist destinations should be cautious when hailing rides from apps due to conflicts between taxi and Uber Technologies Inc. drivers, the U.S. government warned this week. On Monday, the U.S. Embassy and Consulates in Mexico issued a security advisory warning of disputes between drivers for ride-hailing apps and local taxi unions, which have in some cases turned violent. The alert is for the state of Quintana Roo, home to popular resort destinations including Cancún, the Riviera Maya and Tulum.

After finding Sayfullo Saipov guilty of committing murder with the goal of joining the militant group Islamic State, also known as ISIS, the Manhattan jury will return on Feb. 6 to consider whether the death penalty is appropriate punishment. The only point of contention between prosecutors and Saipov's lawyers was whether the defendant carried out the attack in order to join Islamic State, which the United States brands a terrorist organization. These included murder and attempted murder to gain entrance to Islamic State, providing material support to a terrorist organization, and damage or destruction of a motor vehicle. The U.S. Department of Justice said in September that it intends to seek the death penalty for Saipov, despite a moratorium on federal executions since July 2021 as the department reviews the practice. Reporting by Luc Cohen in New York; Editing by Leslie Adler, Bill Berkrot and David GregorioOur Standards: The Thomson Reuters Trust Principles.

☆ French court orders Uber to pay some $18 mln to drivers, company to appeal
▼ + stars: | 2023-01-20 | by ( Tassilo Hummel | ) www.reuters.com time to read: +2 min

Uber said it would appeal, adding: "We are determined to make progress on the issue of platform workers' rights and are convinced that the right way forward is through social dialogue with drivers' representatives." The ruling only applies to the past and does not mean the drivers necessarily have employee status going forward, Teyssier said. The Uber spokesperson said it was the company's aim "to build a model that preserves the flexibility they want while guaranteeing concrete improvements in their working conditions." Earlier this month, Uber announced a landmark sector deal with drivers in France, guaranteeing a minimum of 7.65 euros net ($8.25) per ride, setting up a precedent after months of bargaining talks. ($1 = 0.9223 euros)Reporting by Tassilo Hummel; Editing by Aurora EllisOur Standards: The Thomson Reuters Trust Principles.

☆ Uber Working With Auto Makers to Design EVs Customized for Ride-Sharing, Delivery
▼ + stars: | 2023-01-19 | by ( Sam Schechner | ) www.wsj.com time to read: 1 min

DAVOS, Switzerland— Uber Technologies Inc. is working with auto makers to design lower-cost electric vehicles tailored for its ride-hailing and delivery businesses, part of its effort to electrify its fleet. Speaking Thursday at an event hosted by The Wall Street Journal, Uber Chief Executive Dara Khosrowshahi said the company is working with manufacturers on vehicles optimized for city use, ferrying passengers and deliveries. For ride-sharing, that includes cars with lower top speeds and with seating areas where passengers can face each other.

The longer that job market strength persists, the more Fed officials may feel compelled to break it with ever-higher interest rates. "I don't think we can understate the importance of labor market outcomes," Duy wrote. Reuters Graphics'SURGE PRICING'The job market has befuddled central bankers during the COVID-19 pandemic as much as inflation. Early expectations that a flood of workers back into the labor market would ease wage and hiring conditions proved optimistic. Officials then expected inflation to rise for any number of reasons, from the Fed's own massive bond purchases to a steadily falling unemployment rate.

☆ Freight Broker C.H. Robinson Ousts CEO Bob Biesterfeld
▼ + stars: | 2023-01-03 | by ( Liz Young | ) www.wsj.com time to read: +6 min

Mr. Anderson, 56, stepped down as chair, a position he has held since 2020. Mr. Anderson doesn’t plan to be considered as a candidate for the permanent position, according to the securities filing. Robinson and this exceptional team,” Mr. Biesterfeld said in a statement released by the company. Robinson is by far the largest player in the U.S. freight brokerage market, one that matches freight shippers with available trucks. “We got ahead of ourselves in terms of head count,” Mr. Biesterfeld said on Nov. 2.

☆ Domino’s, Pizza Hut and Other Pizzerias Work to Recruit Delivery Drivers
▼ + stars: | 2022-12-31 | by ( Heather Haddon | Photographs Sophie Park For The Wall Street Journal | ) www.wsj.com time to read: 1 min

Pizza-delivery drivers, who helped chains such as Domino’s Pizza Inc. and Pizza Hut boost their sales during the Covid-19 pandemic, have become one of the $45 billion industry’s biggest problems. Chain executives said a shortage of drivers is costing them sales and frustrating customers with long wait times. Rising fuel and car-maintenance costs have made the job less appealing over the past year, workers said, as most drivers need to use their personal vehicles for pizza runs, and some said they deal with crime. Pizza restaurants’ often rigid schedules also make it harder to recruit and retain drivers, some operators said, versus more flexible food delivery apps such as Uber Technologies Inc.’s Uber Eats and Grubhub Inc.

☆ Consumers Change Food-Delivery Habits
▼ + stars: | 2022-12-29 | by ( Preetika Rana | Heather Haddon | ) www.wsj.com time to read: 1 min

Consumers are changing their food-delivery habits amid economic concerns and as the industry evolves from the growth it saw during the pandemic. Consumers continue to spend more on the biggest food-delivery apps DoorDash Inc. and Uber Technologies Inc.’s Uber Eats, but growth is slowing and people are spending more cautiously, analysts and industry executives said. People are switching to in-store pickups, ordering fewer dishes and changing what they get delivered, they said.

☆ Stock Prices in Tenths of a Penny Might Be Coming to a Trading Screen Near You
▼ + stars: | 2022-12-18 | by ( Alexander Osipovich | ) www.wsj.com time to read: 1 min

Get ready to see more numbers when you check your stock portfolio. Regulators unveiled a proposal last week that would cause some stocks to be quoted in price increments of as little as one-tenth of a penny. So, for example, if Uber Technologies Inc. shares are now trading at $26.20, the proposal opens the door to prices such as $26.204.

☆ Hertz Names First CMO Since 2020 Amid New Focus on Electric Vehicles
▼ + stars: | 2022-12-08 | by ( Patrick Coffee | ) www.wsj.com time to read: +4 min

Hertz Global Holdings Inc. named former GE Appliances marketer Wayne Davis as its new chief marketing officer, making him the first CMO at the car rental services company since 2020, a spokesman said. The company’s most recent chief marketing officer, Jodi Allen, died in 2020. Newsletter Sign-up WSJ | CMO Today CMO Today delivers the most important news of the day for media and marketing professionals. Electrification “speaks to mobility, and it speaks to making Hertz a brand for the future,” Mr. Davis said. Mr. Davis previously spent more than a decade at General Electric’s appliances division, which became GE Appliances after being acquired by Haier Smart Home Co. Ltd. in 2016.

☆ Uber, Motional launch robotaxi service in Las Vegas
▼ + stars: | 2022-12-07 | by ( ) www.reuters.com time to read: +2 min

Dec 7 (Reuters) - U.S. ride-hailing firm Uber Technologies Inc (UBER.N) and driverless tech-maker Motional have launched their public robotaxi service in Las Vegas on Wednesday. Tough regulatory scrutiny and delayed commercial adoption of autonomous vehicle technology have delayed deployment of robotaxi services, leaving investors worried. The launch is part of a non-exclusive 10-year agreement between both the companies for driverless vehicles, with a rollout in Los Angeles expected to follow. In the multi-market deal, Motional's autonomous vehicles would also ferry both passengers and delivery items for Uber and its Uber Eats division. Last month, rival Lyft (LYFT.O) said it would launch the robotaxi service in Los Angeles after it had rolled out in Las Vegas earlier this year.

☆ Australia fines Uber $14 mln for misleading on fares and cancellation fees
▼ + stars: | 2022-12-07 | by ( Byron Kaye | ) www.reuters.com time to read: +2 min

SYDNEY, Dec 7 (Reuters) - An Australian court fined Uber Technologies Inc (UBER.N) A$21 million ($14 million) on Wednesday for threatening cancellation fees it never charged and overstating fare estimates on some rides. The evidence supplied suggested less than 0.5% of Uber customers had gone ahead with a trip due to concern about cancellation fees. The UberTaxi algorithm overshot the fare estimate 89% of the time, but less than 1% of total Uber rides used that service, the judge said. The judge had made clear that the lower penalty "should not be understood as any reduction in the court's resolve to impose penalties appropriate to ... deterring contraventions of the Australian Consumer Law", Cass-Gottlieb added. ($1 = 1.4945 Australian dollars)Reporting by Byron Kaye; Editing by Bradley Perrett, Robert BirselOur Standards: The Thomson Reuters Trust Principles.

☆ Uber launching driverless robotaxis in Las Vegas
▼ + stars: | 2022-12-07 | by ( Jennifer Korn | ) edition.cnn.com time to read: +2 min

While the autonomous vehicles are currently only available for ride hailing in Las Vegas, there are plans to expand to Los Angeles “at a later date,” according to the release. Uber said it plans on launching a fully driverless service with Motional in 2023. U.S. ride-hailing firm Uber Technologies Inc (UBER.N) and driverless tech-maker Motional said on Wednesday they launched their public robotaxi service in Las Vegas. UberMotional has been offering robotaxi services in Las Vegas since 2018 through Uber rival Lyft, though rides before 2020 were offered under parent-company Aptiv. The sale came after a a five-year run of developing self-driving vehicles that was marred by litigation and a fatal crash.

☆ Australia fines Uber $14m for misleading advertisements about fares and cancellation fees
▼ + stars: | 2022-12-07 | by ( ) www.reuters.com time to read: 1 min

SYDNEY, Dec 7 (Reuters) - An Australian court fined Uber Technologies Inc (UBER.N) A$21 million ($14 million) on Wednesday for threatening cancellation fees it never charged and overstating fare estimates on some rides, lower than a regulator wanted but a setback for the company. The Australian arm of the U.S. ride-sharing app maker broke consumer law by misleading customers with warnings they would be charged for cancelling some rides from 2017 to 2021, and by using an inaccurate software algorithm to estimate fares for a taxi service it offered until August 2020, the federal court ruled. ($1 = 1.4945 Australian dollars)Reporting by Byron Kaye; Editing by Leslie AdlerOur Standards: The Thomson Reuters Trust Principles.

☆ Uber Reaches Settlement with Chicago Over Fees and Restaurant Listings
▼ + stars: | 2022-12-05 | by ( Suryatapa Bhattacharya | ) www.wsj.com time to read: 1 min

Uber removed all remaining Chicago restaurants that had been listed on UberEats and Postmates without their consent. Uber Technologies Inc. agreed to a multimillion-dollar settlement with the city of Chicago over what authorities there called deceptive practices at UberEats and Postmates. Restaurants were listed without their consent and were charged excessive fees, according to a two-year investigation by the city.

☆ Uber, Aurora to expand self-driving truck ops in Texas to meet holiday rush
▼ + stars: | 2022-12-02 | by ( ) www.reuters.com time to read: +1 min

Dec 2 (Reuters) - Uber Technologies Inc (UBER.N) and self-driving technology company Aurora Innovation Inc (AUR.O) will expand their driverless pilot program in Texas to meet increased delivery demand during the holidays. Uber Freight is a platform which connects shippers who need goods moved with available truck drivers. The companies launched their pilot program about a year ago to autonomously transport goods between Dallas and Houston. "We're crafting Aurora Horizon to help carriers of all sizes alleviate some of the supply-chain pressures that typically accompany (holiday season)," Aurora co-founder Sterling Anderson said. Aurora Innovation, which also counts FedEx Corp (FDX.N) and Toyota Motor Corp (7203.T) as partners, looks to launch the Aurora Driver self-driving platform at the end of 2024.

☆ CIOs Can Play Key Role in Guiding Companies Through Slowdown
▼ + stars: | 2022-11-27 | by ( Steven Rosenbush | ) www.wsj.com time to read: +7 min

The market for cloud computing, business software, artificial intelligence and other so-called enterprise technologies has been a relative bright spot. “During times of economic uncertainty, companies look for ways where technology can drive growth and create more economic value faster,” said Juan Perez, chief information officer at Salesforce Inc. When budgets are under scrutiny, companies tend to focus on short-term solutions that can drive efficiency and productivity, Salesforce’s Mr. Perez said. Companies should take this opportunity to reconsider the pace of hiring and employ freelance workers where it makes sense. Additionally, CIOs say they are looking at the opportunity to hire valuable workers who lost their jobs at other companies or renew technology contracts on more favorable terms.

☆ Lyft, Motional to launch robotaxi service in Los Angeles
▼ + stars: | 2022-11-17 | by ( ) www.reuters.com time to read: +1 min

Tough regulatory scrutiny and delayed commercial adoption of autonomous vehicle technology have delayed deployment of robotaxi services, worrying investors. Los Angeles will become the second city where the companies will offer the driverless taxi service after Las Vegas. Motional which uses Hyundai Motor Co's (005380.KS) IONIQ5 electric car for the robotaxi service is a joint venture between the South Korean manufacturer and automotive technology company Aptiv (APTV.N). The autonomous vehicle technology company also has a 10-year agreement with Uber Technologies Inc (UBER.N) for supplying driverless vehicles. Competitor Waymo started its autonomous ride-hailing service in Phoenix, Arizona last week.

☆ Cramer's lightning round: Uber is going to be the last man standing
▼ + stars: | 2022-11-16 | by ( Krystal Hur | ) www.cnbc.com time to read: 1 min

Loading chart...Uber Technologies Inc : "Uber is a stock that you have to own for a while. It's going to be the last man standing, and that's why I like Uber." Loading chart...Wingstop Inc : "I think it's a very good situation. Loading chart...Fortive Corp : "I happen to think that this was a very good spin on both sides. Disclaimer: Cramer's Charitable Trust owns shares of Danaher.

☆ Lyft shares plunge after dull revenue forecast, slowing rider growth
▼ + stars: | 2022-11-07 | by ( Nivedita Balu | ) www.reuters.com time to read: +2 min

[1/2] The Lyft logo is seen on a parked Lyft Scooter in Washington, U.S., March 29, 2019. REUTERS/Brendan McDermid/File PhotoNov 7 (Reuters) - Ride-hailing firm Lyft Inc (LYFT.O) on Monday forecast current-quarter revenue below Wall Street estimates as user growth on its platform slows, losing out to bigger rival Uber Technologies Inc and sending its shares down 13%. But revenue per active rider increased 13.7% to $51.88, the highest growth compared to the prior two quarters. For the fourth quarter, the company expects revenue between $1.15 billion and $1.17 billion, while analysts expect $1.17 billion, according to Refinitiv IBES data. It forecast adjusted EBITDA (earnings before interest, taxes, depreciation and amortization), a profitability metric keenly watched by investors, between $80 million and $100 million, compared with analysts' forecast of $84.5 million.

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