California Judge Says Lyft and Uber Drivers Are Employees
The injunction has 10 days to take effect, giving the ridesharing companies time to appeal the decision.
Engineer Gets 18 Months in Google Secrets Case
Anthony Levandowski had pleaded guilty to stealing thousands of files from Google's self-driving car program to benefit himself and Uber.
SoftBank Shuns Call for Board Oversight of Vision Fund
Elliot Management wants the group to create a subcommittee to supervise the fund’s investment process.
SoftBank Posts Record $12.7B Operating Loss in 2019-20
The company’s tech fund reported a loss of $17.7 billion.
Uber CEO Asks Trump to Provide Relief to Drivers
The company’s 1.3 million independent workers are facing financial uncertainty due to the reduced demand for rides during the pandemic.
Uber Beats Estimates But Loss Widens to $1.16B
While Uber's Rides segment is profitable, it is spending heavily on new businesses such as Eats.
Uber Forms New Unit to Push Financial Products
The company "is betting that by building out its financial ecosystem, it can keep drivers and riders loyal to its platform."
Gig Worker Protection Bill Passes California Senate
The bill would require gig economy workers to be reclassified as employees instead of independent contractors.
Uber to Cut 435 Jobs as Streamlining Continues
"It’s critical we get our edge back and continually push ourselves to do better," Uber's CEO says.
Uber Posts Record Loss, Sales Growth Slows
“What’s sapping investor confidence ... is the absence of a clear path to grow revenue and cut costs,” an analyst says.
Uber Lays Off 400 People; Lyft Eliminates Chief Operating Officer Role
Both ride-sharing companies experienced staff shake-ups on Monday after disappointing market debuts.