Alerts in the last 24 hours

No Personalised Alerts!

To see personalised alerts you need to be logged in.

Log In

Uber Technologies Inc Add to portfolio

UNIS:UBR, Aug 21, 05:39 UTC

Latest UNIS:UBR News

Filter your feed

Apply Filter

Today


News

Uber hires CFO after lengthy search, paving way for IPO

UBR TRI

(Reuters) - Uber Technologies Inc has hired a chief financial officer, the ride-services company said on Tuesday, filling a long-standing vacancy and clearing the way for a much-anticipated initial public offering next year. Uber said it had hired Nelson Chai, a financial services veteran with deep connections to the banks and deal-makers Uber must impress ahead of what is expected to be a large, complicated IPO. Operating without such a senior manager is rare for a company the size of Uber, whose net revenue, after payment for drivers, promotions and refunds, was $2.8 billion in the second quarter this year. Chai has had stints at Merrill Lynch, where he worked as CFO through the financial crisis, and Bank of America after it bought Merrill Lynch in 2008.

Read Full Details

Topics:
  • Business
  • Financial

Yesterday


News

HC asks NGO to reply to Ola, Uber pleas to quash summons

UBR

New Delhi: The Delhi High Court today sought response of an NGO on the pleas of app-based taxi service providers Ola and Uber seeking quashing of summons for allegedly operating taxis without licence and charging excess fare from passengers. The NGO had lodged the complaint against ANI Technologies Pvt Ltd, which runs Ola, Uber India Systems Pvt Ltd and Serendipity Infolabs Pvt Ltd, which runs Taxi For Sure. During the hearing, advocate Sumit Modi, appearing for the NGO, sought time to file the response and said at least the proceedings in the case before the trial court be allowed to continue. They had also told the high court that a bill has been introduced in Parliament seeking to regulate the services being provided by them. While summoning them, the trial court had said a prima facie case of permit violation was made out against the firms for allegedly charging excess fares which is in violation of the provisions of the MV Act.

Read Full Details

Topics:
  • Business
  • Financial
  • Science
  • US
News

Why Tensions Between Uber and Cities Peaked in NYC: QuickTake

UBR

New York City dealt Uber Technologies Inc. a blow recently by halting new licenses and blocking the company from adding drivers in its largest U.S. market. New York’s City Council in August passed legislation to freeze new ride-hailing licenses for a year while a task force figures out if more needs to be done to protect drivers and passengers. The European Union’s highest court also took action against Uber when it ruled in December that Uber is a transport company rather than a digital service provider, making it subject to each member nation’s own rules. Consumers have embraced ride-hailing services such as Uber and Lyft Inc., leading to an explosion in drivers and vehicles that’s been tough on local governments.

Read Full Details

Topics:
  • Business
  • Financial
  • Science

Friday, August 17


News

Uber to push further into East Africa with services like Chap Chap

UBR TRI

Uber's East Africa general manager Loic Amado poses for a picture near a vehicle of Uber operating taxi at a parking lot in Nairobi, Kenya February 12, 2018. (Reuters) - Uber the global ride-hailing company, is considering expanding into two other East African countries before the end of 2018, focusing on low cost services like Chap Chap in Kenya, the company said on Friday. In Kenya, East Africa's richest economy per capita, Uber competes with Estonian ride-hailing firm Taxify, Nairobi-based Mondo Ride and Little, which has a partnership with telecoms operator Safaricom. Nairobi was the first city in Africa in which Uber piloted a low-cost, quick-trip option Chap Chap, using 300 small brand-new Suzuki Altos as a less expensive alternative to regular cars on the Uber app.

Read Full Details

Topics:
  • Business
  • Financial
  • Science
News

American Financial Benefits Center Says FTC Refund Checks for Uber Drivers Likely Help a Few Student Loan Borrowers Better Afford Life

UBR

EMERYVILLE, Calif., Aug. 17, 2018 /PRNewswire/ -- Student loan borrowers may seek side income to better afford their loan payments and other living expenses. When they start a side gig like driving for a rideshare company thinking they'll get a certain amount of income and that ends up not being the case, it can wreak havoc on their finances. The FTC mailed refund checks out back in July to Uber drivers as part of a settlement with Uber Technologies, which exaggerated estimated income that drivers in certain cities could expect to earn. This became an issue because those inflated numbers were misleading to prospective drivers. For those using Uber as a source of income, making less than what was promised doesn't bode well, especially for those trying to fight their way out of student debt. Following federal regulations and guidelines, AFBC helps its clients apply for income-driven repayment programs to potentially have their student loan payments lowered and got them on track for student loan forgiveness in 20-25 years of remaining in the repayment program.

Read Full Details

Topics:
  • Business
  • Financial
  • Science

Thursday, August 16


News

Tesla allegedly hired former Uber employees accused of spying on competitors like Waymo

UBR

Tesla has allegedly hired several employees accused of spying on competitors while they worked at Uber, according to a new whistleblower complaint against the company . Nick Gicinto, who is named in statement about the complaint, formerly ran Uber's Strategic Services Group, which was accused of unauthorized surveillance of competitors, including recording private conversations and wiretapping, in an explosive piece of evidence revealed during the lawsuit between Uber and Alphabet 's self-driving car company, Waymo, earlier this year. The Uber memo, dubbed the Jacobs Letter , contained a long list of unethical surveillance techniques allegedly used by Gicinto and others while trying to obtain trade secrets from competitors like Waymo and DiDi Chuxing. Thursday's complaint against Tesla alleges that Gicinto now leads Tesla's security unit, and that there are several other former Uber employees on the team as well, "despite the revelation of a purported investigation by the U.S Attorney's Office in San Francisco this past December 2017 as to the actions related to the Uber security team."

Read Full Details

Topics:
  • Business
  • Science
  • US
  • Technology
News

Uber quarterly loss jumps as it invests in 'big bets'

UBR

San Francisco: Uber on Wednesday disclosed that its quarterly loss jumped despite taking in more money, as it invested in scooters and other "big bets." Uber in July hit the brakes on self-driving trucks, shifting gears to focus just on autonomous cars. He added that Uber is investing in "big bets" including restaurant take-away delivery service Uber Eats and "environmentally friendly modes of transport" like Express Pool, e-bikes and scooters. It said in May that its revenue revved up in the first quarter of this year and that its value climbed to $62 billion in a new funding round.

Read Full Details

Topics:
  • Business
  • Financial
News

Uber revenue: Uber narrows loss but still a long way from finding profit, Technology News, ETtech

UBR

Uber said on Wednesday it narrowed its quarterly losses from a year earlier, although the ride-hailing company is still a long way from proving it can be profitable as it gears up to go public in 2019. Uber's net loss narrowed to $891 million in its second quarter ending June 30 from $1.1 billion a year earlier. Net revenue rose more quickly than gross bookings in the second quarter from the prior period as the company dialed back on promotional subsidies of rides. But its growth faces risks from decisions like that by New York City this month to cap licenses for ride-hailing services for one year. The company's most recent valuation was pegged earlier this year at $72 billion. But that was based on Uber becoming the global winner in ride-hailing and logistics, a vision it has retrenched from, and public investors may see a smaller company worth less.

Read Full Details

Topics:
  • Business
  • Financial

Wednesday, August 15


News

Uber narrows loss but is a long way from finding profit

UBR

(Reuters) - Uber Technologies Inc said on Wednesday it narrowed its quarterly losses from a year earlier, although the ride-hailing company is still a long way from proving it can be profitable as it gears up to go public in 2019. Uber's net loss narrowed to $891 million in its second quarter ending June 30 from $1.1 billion a year earlier. Net revenue rose more quickly than gross bookings in the second quarter from the prior period as the company dialed back on promotional subsidies of rides. But its growth faces risks from decisions like that by New York City this month to cap licenses for ride-hailing services for one year. The company's most recent valuation was pegged earlier this year at $72 billion. But that was based on Uber becoming the global winner in ride-hailing and logistics, a vision it has retrenched from, and public investors may see a smaller company worth less.

Read Full Details

Topics:
  • Business
  • Financial
News

Uber narrows loss but still a long way from profitability

UBR

(Reuters) - Uber Technologies Inc said on Wednesday it narrowed its quarterly losses from a year earlier, although the ride-hailing company is still a long way from proving it can be profitable as it gears up to go public in 2019. Uber's net loss narrowed to $891 million in its second quarter ending June 30 from $1.1 billion a year earlier. Net revenue rose more quickly than gross bookings in the second quarter from the prior period as the company dialed back on promotional subsidies of rides. But its growth faces risks from decisions like that by New York City this month to cap licenses for ride-hailing services for one year. The company's most recent valuation was pegged earlier this year at $72 billion. But that was based on Uber becoming the global winner in ride-hailing and logistics, a vision it has retrenched from, and public investors may see a smaller company worth less.

Read Full Details

Topics:
  • Business
  • Financial