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Tag: loses

Square loses head of payments to Visa

Square loses head of payments to Visa

Finance
Mary Kay Bowman, head of payments at Square is going to Visa to be new head of seller solutions, reporting to Chief Product Officer Jack Forestell. Visa announced the hire in a blog post Friday. Square's shares went slightly negative, about 1 percent, after the announcement. Bowman's departure from Square comes just months after CEO Jack Dorsey lost key deputy and CFO Sarah Friar, regarded by Wall Street as a "rockstar CFO." Bowman was a big hire for Square in 2015. She came from Amazon, wher...
Uber loses Appeal Court battle to deny drivers rights

Uber loses Appeal Court battle to deny drivers rights

Technology
Uber has lost a Court of Appeal battle against giving its drivers basic employment protections, including minimum wage and holiday pay. The judgement could put Uber's business model in the UK at risk, requiring it to recognise drivers as "limb (b)" workers - crucially allowing them to collective bargaining rights.The company has been engaged in legal appeals since 2016, when an employment tribunal found it unlawfully classed drivers as independent contractors.Sir Terence Etherton, the second most senior judge in England and Wales, told the court that the tribunal was "not only entitled, but correct" to class Uber drivers as workers. He added: "Not only do we see no reason to disagree with the factual conclusions of the [tribunal] as to the working relationship between U...
Delhi woman loses Rs 1 lakh to e-wallet fraud

Delhi woman loses Rs 1 lakh to e-wallet fraud

Finance
New Delhi: Tricked by fraudsters posing as customer care representatives of an e-wallet firm, a woman lost all her savings amounting to approximately Rs 1 lakh after they accessed her bank account. The woman, who works with a private firm and lives in east Delhi’s Dilshad Garden, claimed that she was having problems with her e-wallet account and started searching for the customer care number on Thursday. “Some amount had been wrongly deducted from my ewallet, following which I started looking for the customer care number on the internet. I contacted the number provided on a website and the man introduced himself as the representative,” she said. The woman gave her card details to the man to refund the money. Before she could understand what was happening, her account was ...
Uber loses $1bn in three months as growth slows

Uber loses $1bn in three months as growth slows

Technology
Uber has reported a quarterly loss of $ 1.07bn (£820m) as it pumped money into bikes, scooters and food deliveries. July to September's losses were $ 177m (£136m) higher than the quarter from April to June - and come as the ride-hailing giant prepares for a keenly anticipated flotation next year.Revenue rose 5.4% over the third quarter and gross bookings increased by 6% to reach $ 12.7bn (£9.78bn), but these figures represent a slowdown in growth when compared with the same period a year ago.It was the third quarter in a row that Uber's quarter-on-quarter bookings growth has remained in single digits after double-digit growth through the whole of 2017. The company, based in San Francisco and valued at $ 76bn (£58.5bn), is seeking to expand in the ha...
London loses top financial centre ranking

London loses top financial centre ranking

Business
London has lost its status as the world's top financial centre, according to rankings showing gains for post-Brexit rivals. The latest Z/Yen Global Financial Centres Index showed New York overtaking the UK's capital for the first time since 2015.The City think tank, which compiles its lists using data from international bodies such as the World Bank and responses to a survey, said there was evidence London had been knocked, but only slightly, by uncertainty over Brexit.:: Why Brexit may not spell end of LondonRivals within the EU for financial services business currently in the UK were among the cities making the greatest strides, the report said, though Asian centres stood out."Zurich, Frankfurt, Amsterdam, Vienna, and Milan moved up the rankings significantly. ...