Uber selling off its troubled self-driving-car unit could be the next step in Dara Khosrowshahi's bid to wipe away Travis Kalanick's 'growth at all costs' ethos

Uber is in talks to sell its troubled autonomous-vehicle division, ATG, to the startup Aurora Innovation, TechCrunch reported. ATG has struggled to make visible progress on self-driving, so the talks may be driven more by Uber's desire to rid itself of the unit than Aurora's interest in ATG's assets, analyst Sam Abuelsamid said. A sale […]

Uber CEO: Climate is a team sport

London (CNN Business)UK electric vehicle startup Arrival is going public in New York. Arrival said in a statement on Wednesday that it has agreed to merge with “blank-check” company CIIG, in the United States, a deal that values the startup at $5.4 billion and gives it a stock market listing. The transaction is expected to […]

Uber CEO: Let's change the system on gig work

(CNN Business)At first, Uber and Lyft driver Michael Richert was undecided about how he would vote on Proposition 22, a California ballot initiative sponsored by gig economy giants Uber, Lyft, DoorDash, Instacart and Uber-owned Postmates that comes up for a vote in November. Then, he found out how much they were spending to get it […]

Why Uber, Lyft's future in California could be decided by voters

Uber, Lyft get emergency stay to continue operations in California FOX Business’ Gerri Willis reports on ride-sharing companies Uber and Lyft, which will be able to continue operating in California after receiving an emergency stay order from an appeals court judge. Voters, rather than the courts, could the determine outcome of the ongoing legal clash […]

Uber and Lyft ramp up lobbying efforts in California and nationally

Uber, Lyft get emergency stay to continue operations in California FOX Business’ Gerri Willis reports on ride-sharing companies Uber and Lyft, which will be able to continue operating in California after receiving an emergency stay order from an appeals court judge. Uber and Lyft have ramped up their lobbying power in recent years as they face a […]

California Court Orders Uber, Lyft To Classify Drivers As Employees

A California court ruled that Uber and Lyft must classify their drivers as employees in a preliminary injunction issued on Monday. However, the court has stayed the injunction for 10 days to allow the ride-hailing service providers to appeal the decision. Uber and Lyft currently treat their drivers as independent contractors. In addition, the Superior […]

Uber exec on diversity: We have a lot of work to do

(CNN Business)As the pandemic ground its ride-hail business to a halt, Uber’s delivery service took on new importance. Now, it’s Uber’s biggest source of revenue. Revenue from Eats reached $1.2 billion in the second quarter, double a year earlier, the company reported Thursday. Meanwhile, Uber’s Rides business revenue plummeted 67%, to $790 million. Similarly, gross […]

Uber wants to buy Postmates for $2.6B following GrubHub fallout

Uber is in talks to purchase Postmates for roughly $2.6 billion following the collapse of its takeover deal with Grubhub, according to reports. The deal would further consolidate the food delivery industry at a time when the coronavirus pandemic has demand soaring. It would also strengthen Uber’s delivery arm, Uber Eats, which is unprofitable despite […]

Uber riders, drivers must wear coronavirus face masks beginning May 18

Uber’s results show company lost more money than anticipated: Report FOX Business’ Susan Li says, in terms of profit, Uber lost $1.70 per share instead of the estimated 0.88 cents per share loss. Get all the latest news on coronavirus and more delivered daily to your inbox. Sign up here. Continue Reading Below Uber will require riders and drivers […]