Search results for "uber"

Uber shares drop as Softbank plans to sell 45 million in stakes

Uber shares tumbled on Wednesday with more than 4.5 percent in extended trading, following a report stating that SoftBank is selling around $2 billion worth of shares, in a definitive attempt to recover from lost bets on Didi and other investments. Japanese telecommunications and technology multinational conglomerate Softbank is selling a whopping 44 million shares […]

Uber demand jumps as delivery grows, ride-hailing recovers

Uber saw record demand in the first quarter as its food delivery business grew and ride-hailing began to see some recovery. The San Francisco-based company said Wednesday that its bookings jumped 24% to $19.5 billion _ an all-time high _ in the January-March period. That was far ahead of the $18 billion Wall Street was […]

Drivers wanted: Record demand at Uber as vaccinations rise

Uber is offering sign-up bonuses and other incentives for drivers as it faces record demand for rides and meal delivery. The San Francisco ride-hailing company said Monday that total monthly bookings, including food delivery and passenger service, reached an all-time high in March. In a government filing, the company said demand for ride-hailing, which plunged […]

Uber to give UK drivers minimum wage, pension, holiday pay

Uber is giving its U.K. drivers the minimum wage, pensions and holiday pay, following a recent court ruling that said they should be classified as workers and entitled to such benefits. The ride hailing giant’s announcement Tuesday comes after it lost an appeal last month at the U.K. Supreme Court following a yearslong court battle. […]

Uber, Lyft team up on database to expose abusive drivers

Uber and Lyft have teamed up to create a database of drivers ousted from their ride-hailing services for complaints about sexual assault and other crimes that have raised passenger-safety concerns for years. The clearinghouse unveiled Thursday will initially list drivers expelled by the ride-hailing rivals in the U.S. But it will also be open to […]

Uber's food delivery business outshines core rides service

Uber’s food delivery business brought in more money during the third quarter than its signature rides business, showing just how much consumer behavior has changed — and how far the company has adapted — since the pandemic struck. The San Francisco-based ride-hailing company lost $1.09 billion in the three months that ended Sept. 30 as […]

California judge rules Uber, Lyft drivers are employees

SACRAMENTO, Calif. (AP) — A judge on Monday ordered ride-hailing giants Uber and Lyft to treat their California drivers as employees instead of independent contractors, a shift that would guarantee benefits like overtime, sick leave and expense reimbursement for workers who make up much of the freewheeling gig economy. But the ruling from San Francisco […]

Uber buys Postmates, ups delivery game in $2.65 billion deal

SILVER SPRING, Md. (AP) — Uber has widened its reach in the fiercely competitive delivery market by acquiring Postmates in a $2.65 billion all-stock deal, the company said Monday. The acquisition enables the ride-hailing giant to increase its delivery offerings at a time when the global pandemic has suppressed customers’ desire for rides while boosting […]

Uber considers buying Grubhub, according to newspaper report

NEW YORK (AP) — Uber is considering acquiring Grubhub in a deal that would give the companies control over a majority of the U.S. food delivery business, according to published reports. Ride-sharing and food delivery giant Uber Technologies Inc. approached Grubhub Inc. earlier this year with an all-stock takeover offer, The Wall Street Journal reported […]