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Uber, Lyft Threaten to
Stop Service in Calif.
Aug 12, 2020 5:20 PM CDT
Uber, Lyft Threaten to Stop Service in Calif.
They're not happy about ruling in gig-worker case
- Uber and Lyft are threatening to halt service in California over an order requiring them to start treating drivers like employees instead of contractors and provide benefits including sick pay. The order was issued Monday by a San Francisco Superior Court judge who granted a request from California Attorney General...
Uber CEO Calls for
'Third Way' for Gig Workers
Aug 10, 2020 4:08 PM CDT
Uber CEO Calls for 'Third Way' for Gig Workers
He calls for creation of 'benefit funds'
- Uber CEO Dara Khosrowshahi is calling for a rethinking of the "outdated and unfair" labor laws so that gig economy workers like Uber drivers can enjoy benefits as well as flexibility. In a
New York Times
op-ed, Khosrowshahi calls for the creation of a "third way" to stop...
Uber CEO Scrambles to Undo
His Khashoggi Comment
Nov 11, 2019 9:06 AM CST
Uber CEO Scrambles to Undo His Khashoggi Comment
Dara Khosrowshahi called the journalist's murder a 'mistake'
- Uber CEO Dara Khosrowshahi made a mistake involving the word "mistake." In an
Axios on HBO
interview, he used the word to characterize Jamal Khashoggi's murder—and also his own company's fatal self-driving-car accident . CNBC reports it started with him saying, "I think that [the...
Uber Loses Another $1.16B
Nov 5, 2019 12:30 AM CST
Uber Loses Another $1.16B
Company says it will be making money by 2021
- The losses at Uber are mounting, but the ride-hailing heavyweight now predicts it will be profitable in about two years. CEO Dara Khosrowshahi said Monday that the company's goal is to reach profitability—when adjusted for interest, taxes, depreciation, and amortization—for the full year of 2021, the AP...
Uber Lays Off
Another 435 Workers
Sep 11, 2019 2:21 AM CDT
Uber Lays Off Another 435 Workers
Company is trying to 'move toward profitability'
- After losing more than $50 million a day in the second quarter of 2019, Uber is tightening its belt. The company announced the layoffs of 435 people in its product and engineering teams Tuesday, which works out to around 8% of both teams, TechCrunch reports. The company said in a...
Aug 9, 2019 12:15 AM CDT
Uber Posts Biggest-Ever Quarterly Loss
Company lost $5.24B in 3 months
- Uber lost $5.24 billion in the second quarter of 2019—its largest quarterly loss ever—after making huge stock-based payouts in the months following its initial public offering. The ride-hailing giant says it paid $3.9 billion in stock-based compensation and expenses during the quarter. It also paid $298...
Giant Just Went Public
May 10, 2019 10:36 AM CDT
Another Ride-Sharing Giant Just Went Public
Uber shares were going for $45 each, raising $8.1B, just weeks after Lyft's IPO
- With a ring of the opening bell, Uber began picking up passengers as a newly minted public company Friday, giving investors a chance to bet on a service with huge potential but a long way from turning a profit. Shares in the ride-hailing giant were sold in an initial public...
Uber CEO to Saudi Arabia: I'm
Not Going to Your Conference
Oct 12, 2018 2:18 PM CDT
Uber CEO to Saudi Arabia: I'm Not Going to Your Conference
Dara Khosrowshahi says he won't attend after disappearance of journalist Jamal Khashoggi
- "Davos in the Desert" just found out it will be short at least one more speaker. Uber CEO Dara Khosrowshahi says he's canceling plans to go to Saudi Arabia's Future Investment Initiative conference in Riyadh after the disappearance of journalist Jamal Khashoggi , who was last seen entering...
Uber CEO Vows to 'Do the Right
Thing' With Newest Move
May 15, 2018 11:05 AM CDT
Uber CEO Vows to 'Do the Right Thing' With Newest Move
San Francisco company will allow court action, public airing of sexual assault allegations
- Uber will give its US passengers and drivers more leeway to pursue claims of sexual misconduct, its latest attempt to shed its reputation for brushing aside bad behavior, reports the AP . The shift announced Tuesday will allow riders and drivers to file allegations of rape, sexual assault, and harassment in...
Oct 4, 2017 2:13 AM CDT
Uber Truce Cuts Power of Ex-CEO
Agreement clears way for IPO, sources say
- Uber is curbing the power of former CEO Travis Kalanick and taking on Japan's SoftBank Group as a major new investor as the service tries to recover from internal strife and a myriad of legal headaches. The changes adopted unanimously Tuesday by Uber's 11-member board strip Kalanick and...
Uber Gains a
Aug 30, 2017 9:10 AM CDT
Uber Gains a 'Scared' CEO
Dara Khosrowshahi is leaving Expedia to lead ride-sharing company
- Uber's board has indeed made its "truce choice" for a new CEO. Per Recode , Dara Khosrowshahi, who's helmed Expedia since 2005, has officially been designated the new head of Uber after former CEO Travis Kalanick's drama-filled June resignation . Khosrowshahi penned a memo to his Expedia staff...
for New CEO
Aug 28, 2017 1:35 AM CDT
Uber Finds 'Truce Choice' for New CEO
Job will be offered to Expedia's Dara Khosrowshahi
- After weeks of rumors that ousted Uber CEO Travis Kalanick's successor would be Meg Whitman, GE's Jeffery Immelt, or even Kalanick himself , the company's board has finally made a decision. Sources tell the
Wall Street Journal
and the BBC that after Immelt ruled himself out over the...
Expedia Moves to Capture European Market
Dec 17, 2007 10:42 AM CST
Expedia Moves to Capture European Market
Travel giant hopes half of revenue will come from abroad within 5-6 years
- Citing saturation in US travel, Expedia will move aggressively to seize European market share, reports the
with hopes that half its revenue will be international within 5 or 6 years
The travel giant hopes to move in while European competitors Thomas Cook and Tui Travel are distracted with...
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