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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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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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Uber Technologies Inc said demand for its food delivery service more than doubled in the second quarter as many users remained largely homebound, while demand for ride-hailing trips was only marginally recovering from pandemic rock bottom. The company said that despite those larger challenges it is sticking to its goal of being profitable on an …
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Uber Technologies has quietly launched a service to give public health officials quick access to data on drivers and riders presumed to have come into contact with someone infected with COVID-19, company officials told Reuters. The service, offered free of charge, could help burnish the image of the ride-hailing giant, which recently launched a new …
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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 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 …
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.
