News That Matters

Tag: Uber

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 Uber drivers to charge electric car fee

London Uber drivers to charge electric car fee

Technology
Uber is planning to add a surcharge to all fares booked via its app in London to help its drivers buy electric vehicles.The fee, expected to be 15p per mile, will be introduced "early" in 2019.Uber said drivers working for 40 hours per week could get cash help of about £1,500 a year from passengers via the top-up fee.The ride-hailing firm said the scheme would also contribute towards plans to curb air pollution in the capital.Uber said it expected the scheme to raise more than £200m ($ 260m) over the "next few years" to help drivers swap vehicles. It said the fee would add about 45p to the average London journey. It hopes to hand cash to 20,000 drivers to hel...
Uber drivers stage 24 hour strike over employee rights

Uber drivers stage 24 hour strike over employee rights

Technology
Uber drivers are striking across the UK over the next 24 hours as the company continues to appeal against a court ruling giving them employee rights. Although not all of the ride-hailing company's drivers will be on strike, members of the Independent Workers Union of Great Britain (IWGB) will not be using the app for 24 hours from 1pm on Tuesday.Instead, they gathered outside of the company's offices in London, Birmingham and Nottingham to demand fairer pay and to be treated under the conditions of a 2016 court ruling.The IWGB is calling on potential passengers to show solidarity with striking drivers by not using the app during this period, as it calls for the company to cease delaying the implementation of the court ruling.Uber lost a court battle two years ago when an em...
Uber glitch leaves drivers unpaid and frustrated

Uber glitch leaves drivers unpaid and frustrated

Technology
Drivers for the ride-hailing company Uber are frustrated over a glitch that is keeping them from being paid immediately. The Mercury News of San Jose reports San Francisco-based Uber was still working on Saturday to fix a problem that was reported Friday. An Uber spokesperson said the company has identified an issue with its "Instant Pay" feature and that drivers will be paid. Instant Pay allows drivers to be paid immediately for rides. The news organization reports the Uber spokesperson declined further comment. It's not known what caused the issue, when it began or how many drivers were affected. Meanwhile, frustrated and angry drivers are taking to social media, saying that they don't like working for free or that they need the instant payouts for gas.Let's block ads! (Why?) ABC News...
Toyota to invest $500m in Uber in driverless car deal

Toyota to invest $500m in Uber in driverless car deal

Business
Japanese carmaker Toyota is to invest $ 500m (£387m) in Uber and expand a partnership to jointly develop self-driving cars.The firm said this would involve the "mass-production" of autonomous vehicles that would be deployed on Uber's ride sharing network. It is being viewed as a way for both firms to catch up with rivals in the competitive driverless car market.The deal also values Uber at some $ 72bn, despite its mounting losses.That is up 15% since its last investment in May but matches a previous valuation in February.According to a press release issued by the firms, self-driving technology from each company will be integrated into purpose-built Toyota vehicles. Uber halts self-driving tests after death Uber settles with Waymo on self-driving The...