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Uber loses appeal over workers' rights ruling

Uber loses appeal over workers' rights ruling

Business
Uber has lost an appeal against a landmark ruling on the employment rights of its drivers.Two drivers, James Farrar and Yaseen Aslam, won a case against the ride-hailing app last year after arguing they were workers and entitled to the minimum wage, sick pay, paid holiday and breaks.During its failed attempt to overturn the decision at the Employment Appeal Tribunal in London, Uber claimed the ruling could deprive drivers of the "personal flexibility they value".The company, which is also battling Transport for London over its licence to operatein the capital, said it would appeal against Friday's judgment.In a statement, it said: "Almost all taxi and private hire drivers have been self-employed for decades, long before our app existed.Image:The tech firm claims its drivers are 'partners' ...
Uber London loses licence to operate

Uber London loses licence to operate

Technology
Media playback is unsupported on your deviceUber will not be issued a new private hire licence, Transport for London (TfL) has said. TfL concluded the ride-hailing app firm was not fit and proper to hold a London private hire operator licence.It said it took the decision on the grounds of "public safety and security implications".Confirming it would appeal against the decision, Uber said it showed the world "far from being open, London is closed to innovative companies".TfL's concerns include Uber's approach to carrying out background checks on drivers and reporting serious criminal offences.What does the ruling mean?Seven things Londoners will miss if Uber goesNow what next for Uberisation?Your views: Uber London loses licenceUber's current licence is due to run until 30 September.It has ...
Gold loses lustre post GST rollout

Gold loses lustre post GST rollout

Finance
Premium on gold has disappeared since the beginning of this month even as banks and nominated agencies are importing the precious metal in limited quantities, indicating that jewellers have unsold gold with them and demand has slowed since the GST regime was rolled out on July 1. In the last week of June, dealers were charging a premium of up to $ 10 an ounce over official domestic prices, the highest since the middle of November 2016. There are three reasons for the disappearance of premium on gold, said industry executives. First, rural demand has fallen to less than half as kharif sowing has picked up across India with the onset of monsoon. Second, in urban India there are few buyers of jewellery now as the wedding season is yet to arrive. Investment demand for gold in urban India i...
Uber loses another top executive Emil Michael

Uber loses another top executive Emil Michael

Technology
Emil Michael, Uber's senior vice-president and a close ally of chief executive Travis Kalanick, has left the company, employees have been told.His departure was said to be one recommendation of a report by former US Attorney-General Eric Holder about the company's culture and practices.Uber said the board had voted unanimously to adopt all the report's recommendations.However, its contents will not be released until Tuesday.Mr Holder was asked to undertake the review in February after former Uber engineer Susan Fowler made claims of sexual harassment.The Financial Times reported that neither Uber nor Mr Michael would comment on whether he had resigned or been fired.James Cakmak, an analyst at Monness Crespi Hardt, said Mr Michael's departure reflected Uber's need for a "fall guy" and coul...