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, Mar 03, 08:08 UTC

Latest UNIS:UBR News

Filter your feed

Apply Filter

Thursday, February 18


News

Uber and Lyft: The Gig Economy Is Coming for Millions of American Jobs, Auto News, ET Auto

UBR

Last year companies such as Uber, Lyft, DoorDash, and Instacart spent a record $200 million campaigning for an Election Day ballot measure that would exempt them from the California law, arguing in ads and in-app messages that keeping drivers contractors would protect their ability to work. A week after the election, Shawn Carolan, a partner at early Uber investor Menlo Ventures, wrote an op-ed heralding the potential to spread Prop 22’s vision of work “from agriculture to zookeeping,” including to “nursing, executive assistance, tutoring, programming, restaurant work and design.” The Coalition for Workforce Innovation, a lobbying group that seeks to enable wider use of contract labor, includes trade groups representing Amazon.com, Apple, AT&T, Comcast NBCUniversal, CVS Health, General Motors, Nike, Rite Aid, Starbucks, T-Mobile, Verizon Communications, and Walmart, as well as construction, finance, media, sales, and trucking interests. Now gig companies are pressing their advantage. While pushing Prop 22 as a national model, they’re also aiming to secure deals with unions in states like New York and California that could codify some form of union representation as well as benefits without making workers employees. Mary Kay Henry, the president of the Service Employees International Union (SEIU), America’s second-biggest, says she’ll listen to ride-hailing drivers and “back whatever they think about whatever company might be interested in reaching an agreement.” Mario Cilento, the head of the AFL-CIO in New York, which has been meeting with companies to discuss a compromise, says New York’s gig workers deserve to be recognized as full-fledged employees. But “I don’t believe in war in a lot of things,” he says, because “if you can talk things out, you can give yourselves an opportunity to get things done.” A spokesperson for California’s building trades council, which played a key role in scuttling talks with Uber and Lyft in 2019, says the council now “is deferring to the Teamsters on the best path” and suggested talking to Aloise. Even as gig companies are urging that other jurisdictions adopt the Prop 22 model, they’re also saying they’d rather make a deal.

Read Full Details

Topics:
  • Business
  • Politics
  • Financial

Thursday, February 11


News

Uber Quarterly Results: Uber posts big loss as pandemic clobbers ridesharing, despite delivery offset, Auto News, ET Auto

UBR

San Francisco: Uber on Wednesday reported another hefty loss in the final three months of 2020, though the company's food delivery operations partly offset the hit taken from the decline in ridesharing during the pandemic. Uber said its "mobility" segment, which includes ride-hailing, was down 52 percent from a year earlier, while its delivery operations -- including its Uber Eats meal service -- saw a revenue jump of 224 percent. This has the potential to be a "banner year" for Uber, as vaccination programs get people back to summoning rides and the company expands its delivery of alcohol and groceries as well as take-away restaurant meals, according to eMarketer analyst Eric Haggstrom. The two firms said Drizly, which operates in some 1,400 US municipalities and one Canadian province, would become a subsidiary of Uber and that its services would be available via Uber Eats as well as the separate Drizly app.

Read Full Details

Topics:
  • Business
  • Financial
  • Science

Wednesday, February 10


News

Uber's 4Q loss narrows, raising hopes for pandemic recovery

UBR

SAN RAMON, Calif. – Uber’s whittled its losses at the end of a topsy-turvy year that forced the ride-hailing service to rely more heavily on its food-delivery business after the pandemic dramatically reduced the number of people willing to hop into a car driven by a stranger. The fourth-quarter results announced Wednesday drew a picture of a company making strides in its attempt to recover from a staggering blow delivered last March, when efforts to contain the novel coronavirus shut down much of the economy and upended its ride-hailing service. Uber is poised to expand even further beyond transporting people with its recent $1.1 billion deal for alcohol delivery service Drizly. But analysts believe Uber’s pioneering ride-hailing service will also eventually bounce back as more people are vaccinated against COVID-19. Those predictions, coupled with the success of the food-delivery expansion, is the main reason Uber’s stock price has recently been hovering at its all-time high, more than quadrupling from its lows reached nearly 11 months ago during the early stages of the pandemic.

Read Full Details

Topics:
  • Business
  • Health
  • Financial

Thursday, February 04


News

The American Express® Gold Card Brings Back the Iconic Rose Gold Design & Launches a New Uber Cash Benefit

UBR

A recent Amex Trendex* survey found that 3 in 5 (59%) consumers would be interested in choosing their Card design when picking a Credit Card and furthermore, 39% of consumers said that the look and feel of a Card is important to them when choosing a Credit Card. "Our Rose Gold design quickly became a Card Member favorite when we introduced the limited-edition design a few years ago, so we knew we needed to bring it back as an option to choose from permanently," said Rachel Stocks, Executive Vice President, Global Premium Products and Benefits at American Express. Once Gold Card Members add their Card to their Uber or Uber Eats account, they unlock this benefit and can apply it to their Rides with Uber or orders with Uber Eats in the U.S. Additionally, US Consumer American Express Gold, Green and Platinum Card® Members continue to have access to an exclusive offer for up to 12 months of complimentary Eats Pass Membership when they enroll by December 31, 2021. Available exclusively on Uber Eats from February 13-14 in participating locations in New York and Los Angeles, the Rose Gold Meal will feature a gold-dusted Knockout Sando, bubbly beverage, custom candle and a sweet treat to top it off.

Read Full Details

Topics:
  • Business
  • Financial
  • Science

Tuesday, February 02


News

Uber Agrees to Buy Alcohol Delivery Service Drizly for $1.1 Billion – NBC Los Angeles

UBR

Founded in 2012, Drizly has become the leading on-demand alcohol delivery service in the U.S. and is available in 1,400 cities. Uber Eats has been a key segment to Uber's business amid the Covid-19 pandemic, which has dramatically reduced the number of people leaving their homes. Uber said that it anticipates that more than 90% of the consideration to be paid to Drizly shareholders will consist of shares of Uber common stock, and the balance will be paid in cash. Uber also sold its self-driving unit, Advanced Technologies Group, to its start-up competitor Aurora Innovation on December 7, valuing ATG at approximately $4 billion at the time.

Read Full Details

Topics:
  • Business
  • Financial
  • Science

Monday, January 25


News

Uber lays off 185 workers at its food delivery service Postmates: Report

UBR

Uber lays off 185 workers at its food delivery service Postmates: Report By IANS | San Francisco | Last Updated at January 25 2021 10:08 IST. Uber acquired Postmates in July last year for $2.65 billion, after it failed to buy rival food delivery service Grubhub. The company plans to further integrate Postmates' infrastructure within its Uber Eats segment, reports The New York Times. Zomato last year acquired Uber's Food Delivery Business in India in an all-stock deal worth $350 million or Rs 2,500 crore, Uber had 9.99 per cent stake in the Deepinder Goyal-led food delivery platform.

Read Full Details

Topics:
  • Business
  • Financial
  • Science

Thursday, December 31


News

How an unauthorized Uber Eats listing caused chaos for this coffee shop

UBR

A few months ago, Uber Eats delivery drivers started showing up at Strange Brew, a coffee shop in an Indianapolis suburb, to pick up orders. There was only one problem: there were no orders to pick up, because Strange Brew said it didn’t partner with Uber Eats. So it hadn’t authorized the listing on the app and it didn’t have the orders ready for customers. We have this small area for pickup orders, and then they’re clogging up this pickup order area for about 10 minutes while my employees could be doing something else,” she told Yahoo Finance Live. An Uber spokesperson said in an email statement to Yahoo Finance that "there was an error in processing the request of this specific merchant to de-list from Uber Eats, which has now been resolved. We've worked hard to make it simple and efficient for merchants to opt-out, and are disappointed this standard wasn't met here."

Read Full Details

Topics:
  • Business
  • Financial

Wednesday, December 30


News

FreightTech 25: Uber Freight Has Solid Year, But Will It Remain Part Of Uber?

UBR

It has been quite a year for Uber Freight, even as some analysts who follow the parent company of Uber Technologies (NYSE: UBER) continue to ask whether a digital load-matching platform fits with the bigger transportation disrupter. The highlight of the year for Uber Freight, which is ranked 22nd on the FreightWaves FreightTech 25 list of disruptive and innovative companies, was taking on a half-billion-dollar investment. The Greenbriar investment couldn't help but raise speculation: If the company was willing to sell a half-billion stake in a unit worth $3.3 billion, why not sell all of it? In the prepared statement that accompanied the announcement of the Greenbriar investment, Lior Ron, the head of Uber Freight, said the investment would send the signals to customers that "we're here for the long haul." Even before the Greenbriar investment, Uber Freight had several developments in 2020 that moved its technological capabilities forward.

Read Full Details

Topics:
  • Business
  • Financial
  • Science

Tuesday, December 08


News

KUOW - Uber Sells Its Autonomous Vehicle Research Division

UBR

All Things Considered. Uber Sells Its Autonomous Vehicle Research Division Dec 08, 2020 at 12:51 pm. Uber has sold its autonomous vehicle research division to a startup named Aurora. It's a major shift for a company that once saw self-driving technology as a core investment for its future. All Things Considered. Previous Episode. FDA Head Stephen Hahn On What's Next For Pfizer Vaccine In Fast-Moving Process. Related Stories.

Read Full Details

Story Sources

kuow.org wqcs.org
Topics:
  • Business
  • Financial
  • Science
News

Uber sells flying taxi business to Joby Aviation

UBR

Uber is selling off its flying taxi business, Elevate, as part of a new partnership with transportation company Joby Aviation. According to a press release Tuesday, the move will allow Joby and Uber to use each other's technology in their own services for "seamless integration between ground and air travel for future customers." “Advanced air mobility has the potential to be exponentially positive for the environment and future generations," Uber CEO Dara Khosrowshahi said in a statement. "This deal allows us to deepen our partnership with Joby, the clear leader in this field, to accelerate the path to market for these technologies. UBER ASKS US CDC TO CONSIDER RIDE-HAIL DRIVERS ESSENTIAL FOR COVID-19 VACCINE DISTRIBUTION. While the financial terms of the acquisition were not released, Uber will invest an additional $75 million in Joby, bringing its all-time total investment in the company to $125 million.

Read Full Details

Topics:
  • Business
  • Financial
  • Science