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Uber and Lyft saw their stocks soar after an eleventh-hour stay allowed the companies to avoid a service shutdown in California. The ride-hail giants were set to suspend service in their largest US market Thursday at midnight after a judge ruled they had violated the state’s Assembly Bill 5, which requires companies to classify their …
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Uber would be forced to shut down its ride-hailing operations in California if a court ruling that blocks it from classifying its drivers as independent contractors goes into effect, the company said in a court filing. A California judge on Monday granted the state’s request for a preliminary injunction blocking Uber and rival Lyft from …
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Uber on Friday said it would offer rides by the hour in some US cities, a feature aimed at helping Americans with essential trips during the coronavirus pandemic. The option, which is already available in a handful of cities in Australia, Africa, Europe and the Middle East, will cost $50 per hour. Fares for regular …
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Uber Technologies on Thursday for the first time detailed how much it has spent to support its ride-hail drivers and food delivery workers during the coronavirus crisis, which has battered the company and forced it to lay off thousands of employees. The company said in a blog post here it had spent $19 million as …
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Lyft said on Wednesday it plans to lay off 982 employees, or 17 percent, of the ride-hailing firm’s workforce, due to the economic challenges caused by the coronavirus pandemic. Wall Street reacted by sending the shares up almost 5 percent, or $1.62, to $34.36. Earlier this month, the Uber rival announced that some drivers sidelined …
Uber and Lyft saw their stocks soar after an eleventh-hour stay allowed the companies to avoid a service shutdown in California. The ride-hail giants were set to suspend service in their largest US market Thursday at midnight after a judge ruled they had violated the state’s Assembly Bill 5, which requires companies to classify their …
