Waymo, Uber set aside past rift over self-driving car technology to team up on robotaxis in Phoenix
Self-driving car pioneer Waymo is teaming up with ride-hailing leader Uber in the Phoenix area to transport passengers and deliver food in robotic cars that triggered a bitter technological dispute between the two companies.
Police identify man found with โFind My Phoneโ app after Uber driver carjacked in Birmingham
Police have identified the accused thief who was easily tracked down using the โFind My Phoneโ app after throwing an Uber driver out of his car in Birmingham without realizing the manโs second phone was still inside.
Lyft to pick up new CEO amid deepening post-pandemic losses
Lyft co-founders Logan Green and John Zimmer are relinquishing their leadership roles to make way for a former Amazon executive as the ride-hailing service struggles to recover from the pandemic while long-time rival Uber has been regaining its momentum.
Labor proposal could upend rules for gig workers, companies
The U.S. Department of Labor is publishing a new proposal on how workers should be classified saying that thousands of people have been incorrectly labeled as contractors rather than employees, potentially curtailing access to benefits and protections they rightfully deserve.
Uber to give UK drivers minimum wage, pension, holiday pay
Uber is giving its U.K. drivers the minimum wage, pensions and holiday pay, following a recent court ruling that said they should be classified as workers and entitled to such benefits, the company announced Tuesday, March 16, 2021. And they said the company can't decide by itself the expense base for calculating the minimum wage, which should be based on a collective agreement. (AP Photo/Alastair Grant, File)LONDON โ Uber is giving its U.K. drivers the minimum wage, pensions and holiday pay, following a recent court ruling that said they should be classified as workers and entitled to such benefits. The ride hailing giant's announcement Tuesday comes after it lost an appeal last month at the U.K. Supreme Court following a yearslong court battle. And they said the company can't decide by itself the expense base for calculating the minimum wage, which should be based on a collective agreement.
Detroit man charged with 1st degree murder in shooting death of Uber driver
DETROIT โ A Detroit man has been charged with first-degree murder and felony firearm in the death of an Uber driver in January. According to the Wayne County Prosecutorโs Office, 25-year-old Carlous Skipper Jr. is accused of killing 43-year-old Yousef Al-Gabri. Prosecutors said that Skipper allegedly used a phone under a different name to call for an Uber. Officials alleged that when the driver arrived, Skipper shot him multiple times, fatally wounding him. On March 9, an investigation led to the identification and arrest of Skipper, who was arraigned Thursday.
Uber, Lyft team up on database to expose abusive drivers
Uber and Lyft have teamed up to create a database of drivers ousted from their ride-hailing services for complaints about sexual assault and other crimes that have raised passenger-safety concerns for years. The clearinghouse unveiled Thursday, March 11, will initially list drivers expelled by the ride-hailing rivals in the U.S. Michael Wolfe, a Uber driver who also leads a Washington state group representing about 2,000 other drivers, praised both ride-hailing services for trying to weed out the abuses in the industry. AdIt could also help appease U.S. lawmakers, who have criticized Uber and Lyft in the past for inadequate safety protections for their riders. After Uber rebuffed the request to protect the victims' privacy, the agency slapped the company with a $59 million fine.
Gig economy shifts: Spain makes delivery riders employees
Delivery riders protest outside the Spanish parliament in Madrid, Wednesday March 3, 2021.The Spanish government announced on Thursday March 11, 2021, legislation that classifies food delivery riders as employees of the digital platforms they work for, not self-employed. (AP Photo/Paul White)MADRID โ The Spanish government on Thursday announced legislation that classifies food delivery riders as employees of the digital platforms they work for, not self-employed, in a legal change that could have far-reaching consequences for Spanish businesses. She described the rule on disclosing how the digital systems work as โepic,โ saying it โneutralizes algorithmic punishments.โAdThe legal changes are the latest affecting companies and workers in the gig economy. The Spanish government agreed on the new law with the countryโs main business groups and trade union confederations. AdThe legislation was drawn up after Spainโs Supreme Court ruled last September that food delivery riders are employees, not self-employed workers, in a case brought by a former rider for Glovo.
UK top court gives Uber drivers benefits in landmark ruling
The U.K. Supreme Court ruled Friday that Uber drivers should be classed as workers and not self employed. The ruling that the drivers should be classed as โworkersโ and not self-employed is a big defeat for the ride-hailing giant. The seven Supreme Court judges who heard the case unanimously rejected Uber's appeal against an employment tribunal ruling that two Uber drivers were โworkers" under British law. AdSan Francisco-based Uber, which has 65,000 active drivers and 5 million regular users in the U.K., had argued that Aslam and Farrar were independent contractors. AdThe British judges on Friday cited a number of factors in their decision: Uber sets fares and contract terms and penalizes drivers who reject or cancel rides.
Ridesharing services linked to increase in binge drinking, study says
ANN ARBOR, Mich. โ Ridesharing services are believed to decrease drunk driving crashes and deaths but they also are associated with an increase in binge drinking, according to a new study. Then they compared that data with information about alcohol consumption and population density from the Behavioral Risk Factor Surveillance Systems Annual Survey. Binge drinking is defined as having at least four drinks if youโre female and at least five drinks if youโre male. Researchers found that binge drinking increased by 4 percent in high-density markets after Uber became available. โClearly there are health benefits in the reduction of drunk driving, but we are also getting an increase in binge drinking,โ McCullough said.
Uber's 4Q loss narrows, raising hopes for pandemic recovery
In 2020, the ride-hailing service was forced to rely more heavily on its food-delivery service. But analysts believe Uberโs pioneering ride-hailing service will also eventually bounce back as more people are vaccinated against COVID-19. He also predicted that Uber's losses may evaporate by the end of this year. The companyโs ride-hailing service brought in revenue of $1.48 billion in the quarter, a 52% drop from the prior year. Meanwhile, revenue in Uber's food-delivery service more than tripled from the previous year to $1.37 billion.
California court rejects lawsuit challenging ride-share vote
FILE - In this Jan. 12, 2016, file photo, a ride-share car displays Lyft and Uber stickers on its front windshield in downtown Los Angeles. The California Supreme Court has rejected a challenge to the ballot measure that kept app-based ride-hailing and delivery drivers independent contractors instead of employees eligible for benefits and job protections. The court on Wednesday, Feb. 3, 2021, declined to hear the case brought by drivers and unions who had opposed the measure. (AP Photo/Richard Vogel, File)LOS ANGELES โ The California Supreme Court rejected a lawsuit Wednesday that sought to overturn a ballot measure that makes app-based ride-hailing and delivery drivers independent contractors instead of employees eligible for benefits and job protections. โWeโre thankful, but not surprised, that the California Supreme Court has rejected this meritless lawsuit,โ said Jim Pyatt, a Modesto retiree who drives for Uber, in a statement from a group that supports Proposition 22.
Uber will bring the booze after acquiring Drizly for $1.1B
The mobile ride-hailing company said Tuesday that it is acquiring the alcohol-delivery platform Drizly for $1.1 billion in stock and cash. Uber expects more than 90% of the sum to be paid to Drizly stockholders in shares of Uber common stock and the remainder paid in cash. Shares in San Francisco-based Uber jumped 7% in afternoon trading, to $56.42. U.S. alcohol online sales jumped 553% in April, according to NielsenIQ. AdThe acquisition gives Uber access to an established player in that space, which could be a leg up in the fiercely competitive food delivery market.
Maine company successfully launches prototype rocket
This Jan. 31, 2021 image provided by bluShift Aerospace shows The Knack Factory in Limestone, Maine, where an unmanned rocket lifts off in a test run. It was the first commercial rocket launch in Maine history. (bluShift Aerospace via AP)BRUNSWICK, Maine โ A Maine company that's developing a rocket to propel small satellites into space passed its first major test on Sunday. Itโs carbon neutral.โAdThe goal is to create a small rocket that could launch a 30-kilogram (66-pound) payload into low-Earth orbit, more than 100 miles (160 kilometers) above Earth's surface. An attempted test launch in Limestone earlier in January was postponed because of weather.
Nightside Report Jan. 29, 2021: Teens charged with 1st degree murder in death of Uber driver in Detroit, 100 Metro Detroit Holocaust survivors receive COVID-19 vaccine
Teens charged with 1st degree murder in death of Uber driver in DetroitDETROIT โ Two Detroit teenagers have been charged as adults with first-degree murder after an Uber driver was found in an alley with fatal injuries from a hammer and knife attack, officials said. Prosecutors said Devin McKee, 16, and Lanyah Brady, 15, order the Uber ride with every intention of robbing the driver. Police found Perkins in an alley near the intersection of Elmer and Lawrence streets with multiple stab wounds to his head, back and torso. He was taken to a nearby hospital, where he died from his stab injuries, officials said. AdMichigan officials considering resuming high school winter sports sooner than plannedThe Michigan High School Athletic Association is pushing for high school sports to resume before the current Feb. 21 deadline.
Teens charged with 1st degree murder in death of Uber driver in Detroit
DETROIT โ Two Detroit teenagers have been charged as adults with first-degree murder after an Uber driver was found in an alley with fatal injuries from a hammer and knife attack, officials said. Prosecutors said Devin McKee, 16, and Lanyah Brady, 15, order the Uber ride with every intention of robbing the driver. He was taken to a nearby hospital, where he died from his stab injuries, officials said. The teens were charged with first-degree felony murder, carjacking and armed robbery causing serious injury. RELATED: 2 Detroit teens charged with murdering Uber driver who was attacked with hammer, knife, police sayMore: Detroit crime news
Local 4 News at 5 -- Jan. 29, 2021
Hereโs what you missed on Local 4 News at 5:2 teens charged as adults in murder of rideshare driverTwo teenagers, 15 and 16 years old, have been charged as adults with first-degree murder in the death of a 60-year-old Uber driver. Prosecutorโs said the pair ordered the Uber ride with every intention of robbing the driver.
2 Detroit teens charged with murdering Uber driver who was attacked with hammer, knife, police say
DETROIT โ Two Detroit teenagers have been charged with first-degree murder after an Uber driver was found in an alley with fatal injuries from a hammer and knife attack, officials said. Devin Delon McKee, 16, and Lanyah Quan Brady, 15, both of Detroit, are accused of killing Timothy Marcus Perkins, a 60-year-old Uber driver from Southfield, according to authorities. Detroit investigators recovered Perkinsโ stolen car and identified McKee and Brady as suspects in the case, police said. Officials accuse McKee and Brady of calling for an Uber driver for the purpose of robbing him. When they were inside Perkinsโ car, McKee robbed and carjacked him by attacking him with a hammer and stabbing him with a knife, according to authorities.
Some Uber, Lyft drivers sue over California ballot measure
The measure, which was passed in November with 58% support, was the most expensive in state history with Uber, Lyft and other services pouring $200 million in support of it. โGenerally speaking, courts in California don't like to overturn the will of the people,โ Moylan said. There are instances where the California courts have come in and said ... it's nice that this is what the people wanted to do, but our constitution doesn't permit the people to do this." The law expanded a California Supreme Court ruling that limited businesses from classifying certain workers as independent contractors. Another claim in the lawsuit alleges the measure violates a rule limiting ballot measures to a single subject.
Uber's food delivery business outshines core rides service
Uber's food delivery business brought in more money during the third quarter than its signature rides business, showing just how much consumer behavior has changed โ and how far the company has adapted โ since the pandemic struck. Uber brought in $3.13 billion in revenue, down 18% from the same time last year. Despite the decline, the rides business showed improvement from the second quarter, when it brought in just $790 million. Uberโs food delivery business also brought in more revenue than its rides business in the second quarter, when demand for rides was even lower due to the pandemic. However, its rides business was more profitable than delivery.
Ride-hailing, delivery giants win fight against labor law
Uber, Lyft, Doordash, Instacart and others sought to get out of those requirements, and after failing in court, succeeded in convincing voters to give them an exemption from most of the year-old lawโs provisions. A record $200 million spending spree by the companies and their supporters helped them win the vote. The investment yielded a huge return for Uber and Lyft, whose combined market value climbed by $8 billion on Wednesday. Uber, Lyft and, DoorDash, Instacart and their supporters accounted for roughly $200 million that amount, underscoring how badly the companies wanted to preserve their business model. โItโs not really fair that Uber, Lyft etc.
Uber, Lyft spend big, win in California vote about drivers
FILE - In this Aug. 20, 2020, file photo travelers request an Uber ride at Los Angeles International Airport's LAX-it pick up terminal. A California ballot measure that would exempt Uber, Lyft and other app-based delivery drivers from being classified as company employees eligible for benefits and job protections led Tuesday, Nov. 3, 2020, in early vote counts. San Francisco-based Uber and Lyft had threatened to pull out of California if they lost. Opponents said the companies exploit drivers to keep profits high and the ballot measure would deprive workers of rights like overtime pay and workersโ compensation. Supporters said the measure would allow drivers to maintain the freedom to work hours they choose and would provide other benefits.
Asia tracks Wall St rally as markets shrug at election limbo
The benchmark index had gained 3.5% before the market lost some of its momentum toward the end of the day. The Shanghai Composite index rose 0.6% to 3,297.34. But after a tumultuous overnight session in global markets where Trump prematurely declared victory, markets acted as if the occupant of the White House might be secondary. It may take days for a winner of the White House to emerge, and professional investors say theyโre bracing for sharp market swings in the meantime. Stocks tend to rise regardless of which party controls the White House.
Across the country: 5 noteworthy ballot measures that deserve some attention
To see what exactly the ballot measures are in each state, click or tap here. Below are five noteworthy initiatives we thought weโd mention from across the country. Mississippiโs flag redesignThe state Legislature in June eliminated the old state flag that had the Confederate battle emblem, which was widely thought of as racist. Californiaโs app-based driving proposalThis initiative will decide whether app-based transportation and delivery drivers are classified as independent contractors or as employees. Coloradoโs abortion banThis is a ballot initiative that will likely draw a lot of attention across the nation.
California court says Uber, Lyft drivers are employees
SAN FRANCISCO โ A California appeals court on Thursday upheld an order requiring Uber and Lyft to treat their California drivers as employees instead of independent contractors, less than two weeks before voters will be asked to exempt the ride-hailing giants from the state's gig economy law. Uber and Lyft โ who along with DoorDash have heavily bankrolled the ballot measure โ had appealed an August preliminary injunction by a San Francisco judge. Uber and Lyft issued statements noting that the ruling doesn't take immediate affect and urging voters to approve Prop. Treating Uber and Lyft drivers as employees instead of independent contractors would guarantee benefits such as overtime, sick leave and expense reimbursement for workers who make up much of the freewheeling gig economy. Lawyers for Uber and Lyft say drivers are not fundamental to the business, arguing the companies are โmulti-sided platformsโ whose activities encompass much more than transportation.
Uber, Lyft look to kill California law on app-based drivers
Voters are being asked to decide via Proposition 22 whether to create an exemption to a new state law aimed at providing wage and benefit protections to Uber, Lyft and other app-based drivers. (AP Photo/Rich Pedroncelli, File)LOS ANGELES โ Californians are being asked to decide if Uber, Lyft and other app-based drivers should remain independent contractors or be eligible for the benefits that come with being company employees. Voters are weighing whether to create an exemption to a new state law aimed at providing wage and benefit protections to drivers. The landmark labor law known known as AB5 threatens to upend the app-based business model, which offers great flexibility to drivers who can work whenever they choose. Uber and Lyft have maintained that their drivers meet the criteria to be independent contractors, not employees.
Uber gets 18-month London license after winning court appeal
LONDON โ Uber can keep operating in London for another year and a half after winning its appeal of a decision by the British capital's transit regulator not to renew its license. The San Francisco-based ride-hailing company had challenged Transport for Londonโs decision in late 2019 not to renew its operating license over safety concerns involving impostor drivers. Uberโs London license has been revoked twice since 2017 but the company has been able to continue operating while it appealed. In the latest case, Transport for London rejected Uberโs application in November 2019 for a new license, citing several breaches that placed passengers at risk. London Mayor Sadiq Khan said that while Uber has made improvements to get its license back, the company will still be closely scrutinized.
Asian stocks mixed after Wall St rally ahead of US debate
Asian stocks were mixed Tuesday after Wall Street recovered some of this month's losses as investors looked ahead to a debate between President Donald Trump and his challenger in the November election, former Vice President Joe Biden. (AP Photo/Ahn Young-joon)TOKYO โ Asian stocks were mixed Tuesday after Wall Street recovered some of this month's losses as investors looked ahead to a debate between President Donald Trump and his challenger in the November election, former Vice President Joe Biden. Overnight, Wall Street's benchmark S&P 500 index gained 1.6%, led by big tech stocks. โWith a reasonable polling lead, one could argue that Joe Biden has more to lose here than President Trump,โ said Carnell. He said with some potential for gaffes or other colorful moments, the debate might be โcringe-worthy but unlikely to deliver an electoral car-crash for either side.โOn Wall Street, the S&P 500 rose to 3,351.60.
Uber will require riders to prove theyโre wearing a mask if they neglected to wear one during past rides
If a driver reports to Uber that a rider wasnโt wearing a mask, that rider will be required to take a selfie with their face covered before they can take another trip with Uber. โWe believe accountability is a two-way street and have implemented policies and built technology to promote shared accountability and mutual respect. In May, we announced that all users (riders, drivers and delivery people) are required to wear a mask or face cover during a trip,โ said Navideh Forghani, with Uber. Uber officials said more than 1,250 riders have had their access to the Uber app removed after multiple reports from drivers that they hadnโt been wearing a mask. Since May, drivers and delivery people have been required to take a selfie to verify that theyโre wearing a mask before they can start using the app to drive.
Ready to vote but need a ride? This company says itโs stepping in to help
And just like every election year, itโs of the utmost importance that citizens cast their ballot in this yearโs election. If youโve registered but are already concerned about how you will make it to a polling station, the ride-sharing company Uber wants to step in and lend a hand. As Election Day approaches, and as part of its โGet Out the Voteโ campaign, the company aims to help people find their polling location, as well as offer discounted rides to and from the poll during early voting. โAs we look ahead to this yearโs election, we are committed to doing our part to make sure every citizen has access to vote,โ Uber CEO Dara Khosrowshahi said. Uber officials said as Election Day nears, people will begin to have access to important information in the app.
Uber to require that passengers provide face-mask selfies
SAN FRANCISCO Mask slackers will now have to provide photographic proof they're wearing a face covering before boarding an Uber. The mask verification rule expands upon a similar requirement that Uber imposed on its drivers in May to help reassure passengers worried about being exposed to the novel coronavirus (COVID-19) that has upended society. The requirement will roll out in the U.S. and Canada later this month before coming to other parts of the world. The additional safety measures are part of Uber's ongoing efforts to rebuild a service that has seen ridership plunge this year. The adverse conditions caused the number of trips on Uber during its most recent quarter to plunge by 56% from the previous year.
California judge rules Uber, Lyft drivers are employees
FILE- In this Jan. 31, 2018, file photo, a Lyft logo is installed on a Lyft driver's car next to an Uber sticker in Pittsburgh. On Monday, Aug. 10, 2020, a California judge ordered ride-hailing companies Uber and Lyft to treat their drivers as employees, not contractors. Lawyers for Uber and Lyft say drivers are not fundamental to the business, arguing the companies are multi-sided platforms" whose activities encompass much more than transportation. Uber said it did not anticipate any immediate disruptions because of the ruling for its more than 100,000 drivers in California. "Ultimately, we believe this issue will be decided by California voters and that they will side with drivers, Lyft spokesperson Julie Wood said.
Tornado, virus, protests rattle Nashville rideshare economy
Then came what she calls Nashvilles quadruple-whammy: a tornado, coronavirus closures, protests that rocked downtown, then more closures. Bicknese says business has gone from dismal to tolerable, but only because so many drivers have voluntarily stayed home. Bicknese chose to keep driving because she didn't think she could make her car and insurance payments on unemployment. Then what happened is so many drivers filed for unemployment and stopped driving that demand came back," she said. Instead of well-heeled tourists, Bicknese finds herself driving people on unemployment, factory workers and patients travelling to medical appointments.
Uber buys Postmates in $2.65 billion all-stock deal
Uber finally got its food delivery company, acquiring Postmates in a $2.65 billion all-stock deal, the ride-hailing giant confirmed Monday. Uber and its Uber Eats food-delivery division will gain ground against DoorDash, which controls about 37% of the U.S. food delivery market. That's compared with Uber Eats' 20% share before the Postmates deal. But Amsterdam-based Just Eat Takeaway.com ended up nabbing Chicago's Grubhub in a $7.3 billion deal. Uber was reportedly seeking to team Grubhub with its Uber Eats business.
Here are all the companies giving free food, products to health care workers
Right about now is a great time to say thank-you to all the health care workers and people keeping us safe during this novel coronavirus, or COVID-19, pandemic. pic.twitter.com/e7Z8aRCtMt โ Starbucks Coffee (@Starbucks) March 26, 2020People who identify as frontline workers in the health care industry can get a free tall brewed coffee. UberUber Health will provide transportation for front-line health care workers, both to and from patientsโ homes, as well as between health care facilities, according to this news release. โIn Europe and Latin America, we are working with public authorities to offer rides for health care workers to hospitals and their homes. KFCThis deal is for health care workers and normal people alike: free delivery!
Uber safety report reveals widespread sexual assault problem
Uber released a safety report detailing the number of sexual abuse complaints made to the company both in 2017 and 2018. The 84-page report shows the rideshare company received 5,981 reports of sexual abuse, with 235 reports of rape in 2018 and 229 in 2017. โSo this is not just a one-sided problem, we have to keep in mind that both drivers and riders are victims,โ West said. Uber does not contact law enforcement when notified of a sexual assault unless directed by the victim, according to company policy. In addition to sexual assault reports, the company revealed 107 deaths caused by crashes in the last two years.
Uber CEO walks back comment on Saudi writer's slaying
NEW YORK, NY Uber CEO Dara Khosrowshahi caused a backlash by calling the murder of Washington Post columnist Jamal Khashoggi "a mistake" in an interview with Axios on HBOKhosrowshahi later said he regretted his comments. U.S. and United Nations officials suspect that Saudi Arabia's Prince Mohammed bin Salman played a role in Khashoggi's slaying, but the Kingdom denies it. In his interview with Axios, Khosrowshahi said people make mistakes, and it doesn't mean they can never be forgiven. Saudi Arabia's sovereign wealth fund has invested heavily in Uber and its managing director sits on Uber's board. Khosrowshahi was brought in as CEO to turn around a company plagued with self-inflicted wounds.
While losses mount, Uber CEO expects profitability in 2021
FILE - In this May 10, 2019, file photo the statue of Fearless Girl stands in front of the New York Stock Exchange before Uber holds its initial public offering. (AP Photo/Mark Lennihan, File)NEW YORK, NY The losses at Uber are mounting, but the ride-hailing heavyweight now predicts it will be profitable in about two years. CEO Dara Khosrowshahi told reporters Monday that the company's goal is to reach profitability when adjusted for interest, taxes, depreciation and amortization for the full year of 2021. In response, Uber and Lyft proposed a ballot initiative aiming to exempt their companies from the new law. Some analysts are concerned that a deluge of Uber stock will flood the market later this week when a lockup period expires, allowing major shareholders, including company executives and investors, to sell their shares.
Uber lays off 350 more workers in last wave of cuts
KTXL via CNN(CNN) - Uber laid off approximately 350 employees across several different teams on Monday, a spokesperson confirmed to CNN Business. In addition to the cuts, some employees were asked to relocate to other offices. Over 70% of the employees impacted by this round of layoffs are based in the US and Canada. In September, Uber laid off about 435 employees from its product and engineering teams. In August, Uber reported its largest quarterly loss ever: $5.2 billion in the three months ending in June.
Colorado jury clears Uber driver in passenger's shooting death
Justin Sullivan/Getty ImagesDENVER - A Colorado jury has found an Uber driver not guilty of murder in the fatal shooting of a passenger last year. Jurors on Thursday sided with 31-year-old Michael Hancock, who argued that he was defending himself against passenger Hyun (Huhn) Kim. Hancock had been charged with murder but said Kim made unwanted sexual advances and attacked him when Hancock threatened to pull over during the June 2018 ride. Prosecutors said Hancock jumped from the car and went to the front passenger side where Kim was sitting. They said Hancock didn't suffer serious injuries and that he put a knife in 45-year-old Kim's hands after shooting him to place his fingerprints on it.
Driver's ed for robotaxis: A grueling exam looms for self-driving cars
But they still face an existential question: When is a self-driving car truly ready to drive on its own? Most Americans already aren't comfortable with the idea of riding in a self-driving car. No simulation, no self-driving carsCruise, GM's self-driving team, runs 200,000 hours of simulated tests every day. The Silicon Valley startup wanted its self-driving cars to better handle yellow left-turn signals, a rarity during on-road testing. The simulated cars weren't slowing for the pedestrian as much as its real-world cars.
AB InBev's Asia business jumps 5% in first day of Hong Kong trading
Spencer Platt/Getty ImagesHONG KONG - Shares in Anheuser-Busch InBev's Asia business popped on their market debut in Hong Kong on Monday. Budweiser APAC stock rose more than 5% on their first day of trading in what was the second biggest public offering this year after Uber's $8.1 billion IPO in May. The brewer of Budweiser, Beck's and Stella Artois opened at 27.4 Hong Kong dollars ($3.50) a share, about 1.5% above its IPO price of 27 Hong Kong dollars ($3.44) a share, before rising further in morning trading. Budweiser APAC's IPO is a big win for the Hong Kong Stock Exchange. AB InBev had originally planned to raise $9.8 billion from the Hong Kong listing, which would have made it the biggest IPO so far this year.
Uber's new offerings don't measure up to its challenges
Justin Sullivan/Getty Images(CNN) - With pressure mounting on its business, Uber decided to take a well-worn page from the Big Tech playbook: hold a flashy press event. Khosrowshahi also showed off what he described as "the next generation of the Uber app," with more integration of its food delivery and micromobility services. "It's lipstick on several pigs at once," said David Kirsch, a University of Maryland business professor. Gad Allon, a professor at the University of Pennsylvania's Wharton Business School, described Uber's announcements as focusing on small issues when big challenges remain unresolved. Chen also thinks that Uber's announcement of expanding its rewards program to include food delivery will be helpful.
Uber tries to make bikes, scooters into profitable business
SAN FRANCISCO - Uber announced a number of changes to its bike and scooter business Thursday as the company faces pressure to become profitable. Uber will give its rentable bikes and scooters more prominence in its app next month in an attempt to increase ridership. As part of the strategy, Holt said Uber would pivot bikes and scooters away from cities with low ridership to other markets. Uber's increased promotion of bikes and scooters fits its goal to be the transportation company for everyone, no matter how they're traveling. Previously, Uber users had to toggle to a different screen in the app to see bikes and scooters.
Peloton falls below IPO price
Peloton, the indoor fitness brand, began trading at $27 a share on Thursday, or nearly 7% below its IPO price. At its IPO price, Peloton was valued at about $8 billion, or roughly double its private market valuation one year ago. Peloton is best known for its internet-connected indoor bikes and subscription cycling classes that can be streamed live or on-demand into homes. Peloton generated $915 million in revenue in its most recent fiscal year, ending June 30, according to its IPO prospectus. Founded in 2006, SoulCycle is the industry veteran and its IPO was expected to value the company at around $900 million.
Airbnb plans to go public in 2020
Slack's stock took a beating after its first earnings report as a public company earlier this month. Airbnb, which was valued at about $31 billion in its most recent private fund-raising round, didn't reveal how it plans to list its shares. Airbnb is one of the most well-known so-called unicorns, or startups valued at over $1 billion. This year has seen a number of high profile IPOs, including from Uber, Lyft, Zoom, Slack and Pinterest, so Airbnb has likely faced questions over the timing of its offering. In June, the company announced it was adding Airbnb Adventures trip packages in locations around the world to its platform.
Your questions about the so-called gig economy answered
SACRAMENTO, Calif. - California has had it with the companies that control the so-called gig economy. What is the gig economy? If you've ever been a freelancer, a temp or really any sort of independent contractor, you've participated in the gig economy. The Gig Economy Data Hub, a project by the Aspen Institute Future of Work Initiative and Cornell University's Industrial and Labor Relations School, collects demographic data on gig workers. But not every gig is equal, and the lowest-paying ones are often held by disadvantaged groups, as the Gig Economy Data Hub pointed out.
Uber is laying off hundreds of staffers, again
Justin Sullivan/Getty Images(CNN) - Uber laid off hundreds more employees -- this time, across its engineering and product teams in an effort to "reset." The company confirmed to CNN Business Tuesday that about 435 positions -- 170 in its product team and 265 on its engineering team -- were eliminated. The company said the layoffs represent about 8% of the product and engineering teams. Notably, the layoffs did not impact product and engineering staffers working on its growing meal-delivery business known as Eats. After careful consideration, our Engineering and Product leaders concluded the answer to this question in many respects was no."
Watch Local 4 News at 4 -- Sept. 9, 2019
DETROIT - Here's what is coming up on Local 4 News at 4:Stislicki murder chargesThe man charged with killing 28-year-old Danielle Stislicki has been in court all day Monday. Pushup recordA young man fighting a devastating illness is attempting to set a world record in order to send a message. UberUber has taken action against one of its drivers after a woman said she was kicked out of a car for being gay. VapingThe investigation continues into what is sickening people who've used e-cigarettes. Copyright 2019 by WDIV ClickOnDetroit - All rights reserved.
Missing Toddler Allegedly Kidnapped by Uber Driver Is Found Dead
A Pennsylvania toddler whose dad said she was abducted by an Uber driver has been found dead, police said. The body of Nalani Johnson, 2, was found on Tuesday in Pine Ridge Park in Blairsville, according to authorities. Nalanis father, Paul Johnson, initially called police on Saturday around 5 p.m. to say that his daughter had been kidnapped by an Uber driver after hed stepped out of her black Toyota Yaris SUV. He said the woman allegedly driving, 25-year-old Sharena Nancy, sped off with Nalani in the car. We will continue to keep the Johnson family in our thoughts, McDonough said in a press release.
Woman Accused of Abducting Missing Toddler Claims Child's Father Wanted to Sell Her
A rideshare driver accused of abducting a Pennsylvania toddler said the child's father wanted to sell the girl for thousands of dollars, authorities said. The search is on for 2-year-old Nalani Johnson, who was last seen in Sharena Nancys vehicle at the intersection of Bryant and Clay Drives in Penn Hills Saturday. Nancy said she then drove around, smoked cigarettes and talked on the phone with her husband, the complaint reportedly said. Nancys husband, MD Raihan Uddin, told KDKA his wife didnt take the child and claimed Johnson isnt telling the complete truth. Uber and Lyft reportedly told the station no one with Nancys name used their platforms over the weekend.
New York Uber driver charged with kidnapping 15-year-old girl
Justin Sullivan/Getty ImagesNEW YORK (CNN) - A New York Uber driver was charged Monday with kidnapping and threatening to sexually assault a 15-year-old girl. The victim refused and tried to get Williams to take her home, the district attorney said. Williams was arraigned Tuesday and charged with kidnapping in the second degree, kidnapping in the second degree as a sexually motivated felony, as well as several other charges. Steven Gaitman, Williams' attorney, says that there is more to the case than what the district attorney is claiming. If convicted, Williams could face up to 25 years in prison, the district attorney said.
15-Year-Old Escapes Uber Driver Who Police Say Intended to Sexually Assault Her
A New York Uber driver has been charged with kidnapping a 15-year-old whom police say he intended to sexually assault. Williams drove away before police could get there. However, when asked why his client allegedly drove toward Brooklyn, the wrong direction, Gaitman declined to comment. In a statement, Uber said: "What has been reported is deeply alarming and the driver's access to the app has been removed. Uber Driver Takes Woman 400 Miles to Aunt's 100th Birthday PartyYouTuber Pulled Over for Speeding Donates to Law Enforcement CharitySpecial Delivery!
Uber driver involved in crash warns of insurance loophole
On Uber's website, the company says it provides insurance to every driver. Reed reported her accident through the Uber app, only to find out the company's insurance wouldn't cover her either. Uber states its insurance policy for drivers on its website. It says if a driver is in an accident and is not using the Uber app, their personal insurance will apply. For more information on Uber's insurance policies visit: uber.com/us/en/drive/insuranceThe-CNN-Wire & 2019 Cable News Network, Inc., a Time Warner Company.
WeWork files for IPO after losing $1.9 billion last year
WeWork's parent company, The We Company, publicly filed paperwork on Wednesday to raise $1 billion in an initial public offering. The company is moving forward with its plans to go public despite losing a staggering $1.9 billion last year, according to its IPO prospectus, an unprecedented amount for a company about to go public. By comparison, Uber said it lost $1.8 billion in 2018 and Lyft lost $911 million. In the first half of 2019, the company lost $904 million, a roughly 25% increase from the same period in the prior year. In its filing, WeWork addresses how certain factors, such as declines in market rents, inability to negotiate satisfactory leases, or membership retention, could impact its business.
Watch Local 4 News at 4 -- Aug. 9, 2019
DETROIT - Here's what is coming up on Local 4 News at 4:Sex chargesA former school volunteer has been arrested in connection with sexually abusing children. Gun arrestA man is in custody after walking into a Walmart carrying a gun and dressed in tactical gear. UberWhile it feels like Uber drivers are everywhere the company is still struggling to make money. Cats ignore youNew research reveals that cats probably know their names and are just choosing to ignore you. Copyright 2019 by WDIV ClickOnDetroit - All rights reserved.
Uber burned through $5.2 billion last quarter
CNN imageSAN FRANCISCO, Calif. - Even by Uber's standards, the company burned through a staggering amount of money in its most recent quarter. Uber said Thursday that it lost $5.2 billion in the three months ending in June, its largest quarterly loss ever, fueled mostly by $3.9 billion in stock-based compensation expenses related to its public offering during the quarter. Without those charges, however, the company still lost about $1.3 billion during the quarter, a roughly 50% spike from the year prior. Khosrowshahi stressed that Uber's ride-hailing service, along with its meal delivery service, each have the potential to "be a spectacular business long-term." But even as it invests aggressively, Uber's revenue growth continues to slow.
NYC wants to cut back on Uber, Lyft cruising without passengers
The idea is to cut down on under-use of drivers as well as to ease traffic. Regulatory changes in New York City could provide a model for other cities eager to rein in ridehailing firms that have increased congestion even as they've revolutionized transportation. Earlier this week, City Lab reported on a new Uber and Lyft joint analysis into how their vehicles are contributing to what's referred to as "vehicle-miles-traveled." While New York City was not included in the analysis, it's safe to say some cities may look to New York City for leadership on how to regulate their own streets. Uber asked that the city remove the limit so it can continue adding new vehicles to the road to support demand.
New website lets you rent swimming pools by the hour for you and your friends
Swimply allows users to look up private pools in major cities that are available to rent by the hour. It's a great way for people who don't own pools to have a little summer fun, and it gives pool owners a way to earn some extra income. The company currently has pools available in 20 states across the United States, with more to come as the website becomes more popular. The price to rent a pool by the hour isn't as expensive as you might believe. If you split the cost among a couple of friends it won't be wildly expensive.
New websites lets you rent swimming pools by the hour for you and your friends
Swimply allows users to look up private pools in major cities that are available to rent by the hour. It's a great way for people who don't own pools to have a little summer fun, and it gives pool owners a way to earn some extra income. The company currently has pools available in 20 states across the United States, with more to come as the website becomes more popular. The price to rent a pool by the hour isn't as expensive as you might believe. If you split the cost among a couple of friends it won't be wildly expensive.
Uber lays off 400 people on its marketing team
Justin Sullivan/Getty ImagesUber is laying off roughly one-third of its global marketing staff. In an email sent by Uber CEO Dara Khosrowshahi to staff and seen by CNN Business, he says, "we are not making these changes because Marketing has become less important to Uber. The layoffs are just the latest turbulence inside Uber in the less than three months since it went public. In early June, Khosrowshahi announced that two top executives were leaving the company, including chief marketing officer Rebecca Messina. According to an Uber spokesperson, Hazelbaker and Khosrowshahi announced a new marketing team structure to staff Monday.
Jesus Saves! Uber Driver Takes Woman 400 Miles to Aunt's 100th Birthday Party
An Uber driver named Jesus was a blessing to a stranded woman trying to get to her aunt's 100th birthday party. So Maggard contacted Uber in desperation, not expecting that a driver would be willing to make such a long trek. He said, "I'm a driver, that's what I do and I will take you," Maggard recounted to "Good Morning America." My sister and I requested Uber for a 4 HOUR drive and LOOK WHO ANSWERED OUR PLEA!!! Drunk Man Uses Uber to Send Injured Baby Bird to Wildlife Rescue CenterFlorida Man Allegedly Beats Uber Driver With Car Antenna: Report
Arianna Huffington departs Uber's board
Justin Sullivan/Getty Images(CNN) - Arianna Huffington is leaving the board of Uber after three years. She joined the company's board of directors in 2016 as its first female board member. In the regulatory filing, Huffington cites the growth of her media company, Thrive Global, as reason for her departure. Additionally, another board member Matt Cohler, a general partner at venture capital firm Benchmark, has also resigned from the board. According to a separate regulatory filing, Cohler resigned Tuesday, one day prior to Huffington.