Ride Hailing
Uber 2024 profit forecast falls short of expectations, shares drop
Uber laid out a $5 billion operating profit for 2024 that fell short of analyst estimates, sending its shares down 4% on Thursday, even as the ride-hailing company revealed several...
EU targets Uber, Deliveroo model with gig workers’ rights plan
The European Commission announced draft rules to give many drivers for online firms such as Uber and Deliveroo employee benefits, a move labour unions say is overdue but some compa...
Uber and Deliveroo could be hit by draft EU rules for gig workers
Uber, Deliveroo and other online platform companies may have to reclassify some of their workers as employees under draft EU rules meant to boost their social rights, according to ...
Didi’s New York exit a further blow to Chinese listings in US
Ride-hailing giant Didi Global’s plan to withdraw from the New York stock exchange may create an even deeper chill after this year’s drop-off in Chinese firms’ li...
Lyft names Amazon Studio’s Elaine Paul as CFO
Ride hailing firm Lyft Inc has named Amazon.com Inc’s executive Elaine Paul as its new CFO, replacing Brian Roberts who is stepping down after seven years in the role.
Uber to allow users to book rides via WhatsApp in India
US ride-hailing giant Uber Technologies has said it would roll out a feature that will allow users in India to book rides via messaging service WhatsApp.
Sources: Didi prepares to relaunch apps in China, anticipates data probe will end soon
Didi Global is preparing to relaunch its ride-hailing and other apps in China by the end of the year in anticipation that Beijing’s cybersecurity investigation into the compa...
US sues Uber over alleged disability discrimination
The US Justice Department sued Uber Technologies over allegations of overcharging disabled passengers, and asked a federal court to order compliance with an anti-discrimination law...
SoftBank dragged into red by falling Vision Fund valuations
SoftBank Group Corp reported a 397 billion yen (approximately $3.5 billion) net loss for the July-September quarter, dragged down by a $10 billion investment loss at its Vision Fun...
Uber makes first operating profit as driver shortage eases
Uber has reported its first profitable quarter on an adjusted basis since it launched more than a decade ago with its two most important segments, ride-hailing and restaurant deliv...
Lyft soars as company charts a path out of the pandemic
Lyft Inc shares soared more than 13% in extended trading after the company reported an adjusted profit for the third quarter and outlined a path to sustained profitability on the b...
Uber could post first adjusted profit this quarter as ride demand returns
Uber could post its first profit on an adjusted basis for the current quarter, reaching the elusive milestone sooner than expected as online food ordering surges and ride bookings ...
Didi suspends UK launch plans amid China crackdown on tech firms
Chinese ride-hailing giant Didi Global Inc has suspended its plans to launch in Britain and continental Europe, The Telegraph has reported, against the backdrop of a regulatory bac...
Uber posts $509 million adjusted loss on driver incentives even as trips rise
Uber Technologies Inc reported widening losses as it spent more to entice drivers to return to its platform, sending shares of the ride-hail and food delivery company down in after...
Argo AI, Ford and Lyft to launch self-driving ride-hail service
Self-driving start-up Argo AI, carmaker Ford Motor Co and ride-hail company Lyft Inc have said they partnered to offer robotaxi trips to Lyft customers in Miami and Austin.