uber

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    Uber takes big step to become global powerhouse

    Uber takes big step to become global powerhouse Uber has filed for an early 2019 initial public offering (IPO), The Wall Street Journal reports. The ride-hailing company's filing places Uber in a race with Lyft to the public market, with the two IPOs predicted to be among the biggest in 2019.
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    Uber hikes prices in South Africa

    Uber hikes prices in South Africa Uber has announced a 5% price hike in South Africa, which will take effect from 7 December 2018. "While we have always tried to keep prices as low as possible, we need to be aware of the increased costs for driver-partners," the company said in a statement.
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    Uber fined R6.7 million by UK regulator over 2016 cyber attack

    Uber fined R6.7 million by UK regulator over 2016 cyber attack Uber Technologies Inc., which is already facing a range of legal and regulatory headaches in London, got another Tuesday after it was fined 385,000 pounds (R6.7 million) over a cyber attack that compromised the data of millions of...
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    I get tons of Uber discounts and I have no idea why

    I get tons of Uber discounts and I have no idea why Uber has become one of the easiest and most cost-efficient ways for people in urban areas to get around. Whether you are going out for a night on the town or saving on vehicle costs, many South Africans rely on Uber.
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    Uber's revenue growth falls dramatically

    Uber's revenue growth falls dramatically Uber’s sales are dramatically slowing even as the ride-hailing company is spending more to fuel global growth, particularly in its food delivery business. Revenue growth of 38 percent in the third quarter was almost half of what the growth rate was six...
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    Uber executive resigns following sexual misconduct allegations

    Uber executive resigns following sexual misconduct allegations Uber Technologies Inc. said Cameron Poetzscher, a longtime executive in charge of corporate deals, has resigned. His departure, which follows allegations of sexual misconduct, leaves another vacancy in Uber’s finance department as...
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    Uber and Lyft race towards IPOs in 2019

    Uber and Lyft race towards IPOs in 2019 Uber Technologies Inc. and Lyft Inc. are solidifying plans for initial public offerings next year, when a wide pool of investors will decide what the money-losing ride-hailing businesses are actually worth. Wall Street’s top banks, vying for a coveted...
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    Uber could be worth as much as $120 billion

    Uber could be worth as much as $120 billion Uber Technologies Inc. has recently received proposals from banks for an initial public offering valuing the ride-hailing company at as much as $120 billion, the Wall Street Journal reported, citing people familiar with the matter. An IPO at that...
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    Uber to pay $148 million in data breach settlement

    Uber to pay $148 million in data breach settlement Uber Technologies Inc. will pay $148 million to settle claims related to a large-scale data breach that exposed the personal information of more than 25 million of its U.S. users. The settlement, spanning all 50 states and the District of...
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    Uber to invest $150 million in driverless car hub

    Uber to invest $150 million in driverless car hub Uber Technologies Inc. said it will spend more than $150 million in Toronto to support driverless car research. The five-year investment includes opening an engineering hub in Canada’s biggest city in early 2019 and an expansion of its Advanced...
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    Uber accused of saving $500 million per year by cheating drivers

    Uber accused of saving $500 million per year by cheating drivers Uber Technologies Inc. may be saving more than $500 million a year by misclassifying its California drivers as independent contractors, according to a lawsuit that claims the ride-hailing company is flouting a ruling by the...
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    Uber partners with Japanese taxi company

    Uber partners with Japanese taxi company Uber Technologies Inc. has finally found a partner for its cab-hailing program in Japan, one of the world’s largest taxi markets. The San Francisco-based company struck a deal with the Fuji Taxi Group to let users hail cabs through its app in Nagoya...
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    Uber defeats lawsuit by investors who blamed scandals for losses

    Uber defeats lawsuit by investors who blamed scandals for losses Uber Technologies Inc. and its former Chief Executive Officer Travis Kalanick defeated a lawsuit claiming the company swept illicit business practices under the rug that cost investors billions of dollars. U.S. District Judge...
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    Uber appoints Merrill Lynch veteran as CFO

    Uber appoints Merrill Lynch veteran as CFO Uber Technologies Inc. selected Nelson Chai, a longtime banking executive who weathered the 2008 financial crisis, as chief financial officer. Chai will help guide the ride-hailing company through a planned initial public offering late next year. Uber...
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    Why Uber South Africa does not want its drivers forced to get permits

    Why Uber South Africa does not want its drivers forced to get permits Uber has called on the South African Transport Ministry to revise a number of proposed amendments to the National Land Transport Act. The amendments aim to update the legislation to account for the proliferation of...
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    Uber lobbying for contract workers not to become employees

    Uber lobbying for contract workers not to become employees Leading gig economy companies including Uber and Lyft are quietly lobbying California’s top Democrats to override or undermine a court ruling that could make many of their contract workers into employees. In April, the California...
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    Uber appoints former Northrop CEO as chairman

    Uber appoints former Northrop CEO as chairman Uber Technologies Inc. named former Northrop Grumman Corp. Chief Executive Officer Ronald Sugar as independent chairman of the board. The move follows a fraught process to revamp its corporate governance after the resignation of Travis...
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    Uber to rent scooters through its mobile app

    Uber to rent scooters through its mobile app Electric scooter rental company Lime is teaming up with Uber to bring an unconventional mode of transportation to the world. Uber Technologies Inc. is investing in Lime as part of a $335 million financing round, the companies plan to announce on...
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    Uber to pay drivers in some cities to switch to electric cars

    Uber to pay drivers in some cities to switch to electric cars Uber has launched its EV Champions Initiative, a pilot programme which encourages its drivers to adopt electric vehicles (EVs). "This program kicks off today in seven cities — Austin, Los Angeles, Montreal, Sacramento, San...
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    Uber drivers in South Africa go on strike

    Uber drivers in South Africa go on strike Some Uber Technologies Inc. drivers in South Africa have gone on strike as the cost of running cars increases with higher fuel prices. Drivers at the U.S. ride-hailing service gathered peacefully at a public park in central Johannesburg Monday to...
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