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Travis Kalanick, controversial ex-Uber CEO, cashes in $547m of shares

The Uber co-founder and former chief executive Travis Kalanick is cashing in more than half a billion dollars of his stake in the ride share app, months after the company went public. After the end of the so-called “lockup period”, a 180-day restriction on inside and early investor sales, came to an end on Wednesday,…
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January 19, 2022 0

Uber chief tries to backpedal after calling Khashoggi murder ‘a mistake’

Dara Khosrowshahi, the chief executive of Uber, has attempted to limit the damage after calling the murder of the journalist Jamal Khashoggi “a mistake” similar to a fatal accident that occurred during tests of his company’s self-driving car. Khashoggi, a Saudi national resident in the US, and a severe critic of the Saudi regime who…
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January 19, 2022 0

Uber must soon face up to task of picking up some serious money

Uber was smart to get itself listed on the New York stock exchange before the WeWork fiasco. There’s now a much-needed mood of scepticism on Wall Street towards cash-burning companies whose horizon for profitability stretches into the middle distance. Uber might find it harder today to raise $8bn (£6.2bn) at a whizzy valuation.


January 18, 2022 0

LA suspends Uber’s scooters and bikes permit after company refuses to share data

Los Angeles has suspended Uber’s permit to rent electric scooters and bicycles because the corporation refused to follow the city’s rules on data sharing. The temporary suspension could result in the city confiscating scooters and bikes of Uber’s subsidiary Jump. It marks the latest conflict between local governments and the rideshare company, which has repeatedly…
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January 18, 2022 0

‘Extraordinary’: TfL criticised over Uber licence extension

Transport for London made Uber promise to verify drivers’ identities and ensure their documents are genuine in exchange for a temporary licence to operate, in a deal that drew an incredulous response from the trade body for black-cab drivers. The ride-hailing firm was granted a two-month extension to its licence in September after TfL refused…
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January 18, 2022 0

Addison Lee lenders ‘circle’ taxi giant as sale effort continues

Addison Lee has insisted it expects “a successful conclusion” to the “ongoing” sale process despite reports that its lenders are preparing to take control of the London taxi company. It could see the company, which is owned by US buyout firm Carlyle, fall into administration as reported exclusively by Cab4Now.com on 8th February 2019.


January 18, 2022 0

Immense joins Addison Lee programme to improve fleet efficiency

Global premium car service company Addison Lee Group and Immense, the intelligent mobility simulation provider, have announced it has launched a new partnership.  The partnership is under mVentures, Addison Lee Group’s innovation programme, and will use simulation to explore more efficient and environmentally friendly ways of getting drivers and customers to where they need to…
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January 18, 2022 0

Uber overhauls app in quest to build ‘operating system for everyday life’

Uber has announced a slew of updates to its app – including consolidating its food delivery and ride-hailing services, and a new feature highlighting local public transportation options – in a bid to create “an operating system for everyday life”. Uber announced the more than 25 changes to its platform at a launch event in…
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January 17, 2022 0