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Uber and Lyft's stock prices soared Wednesday after California voters allowed the ride-hailing giants to continue treating their drivers as independent contractors instead of employees.
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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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Shares of ride-hail giant Lyft plummeted more than 6.5 percent after it announced it will suspend service in California at the end of the day Thursday following a judge’s ruling that it misclassified its drivers. The rideshare company is bowing out of its largest market after a judge ruled it had violated the state’s Assembly …
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Uber said this week it will continue to deliver meals in California even if its ride-hail business is forced to shut down at the end of the week. A spokesperson for the embattled ride-sharing giant — which has seen its business plummet as the COVID-19 pandemic has cratered the demand for transportation — said Monday …
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A California judge on Thursday dismissed requests from Uber and Lyft asking for more time to appeal his decision forcing them to classify drivers in their largest market as employees. The ride-hail giants have argued that Judge Ethan Schulman of the San Francisco Superior Court’s decision would require them to restructure their businesses, but the …
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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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Shares of Uber and Lyft were down Tuesday morning following a California judge’s order that the ride-hailing giants should classify their drivers as employees instead of as independent contractors. The ruling was a major blow for the tech giants in their largest market. Uber and Lyft have been accused of violating California’s Assembly Bill 5, …
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Lyft plans to distribute thousands of car partitions in an expanded effort to protect drivers from the coronavirus. The ride-hailing giant will provide 60,000 drivers with polycarbonate shields to install between the front and rear seats of their cars, it said Friday. Lyft plans to give them out in 30 US regions over the coming …
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Read More: Lyft to cut nearly 1,000 jobs due to coronavirus outbreak California sues Uber, Lyft for classifying drivers as contractors Uber’s Middle East business cuts 31 percent of workforce Uber spent $19 million to aid drivers struggling amid coronavirus
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Uber reported a quarterly loss of nearly $3 billion on Thursday, it’s biggest in three quarters as the coronavirus pandemic squeezes its ride hailing business. The stock dipped slightly in late trading on the massive loss before rising more than 6 percent after CEO Dara Khosrowshahi said there are reassuring signs in markets hit badly …
Uber and Lyft's stock prices soared Wednesday after California voters allowed the ride-hailing giants to continue treating their drivers as independent contractors instead of employees.
