Uber losses top $1bn in run-up to IPO
Uber has posted a loss of more than $1bn (£780m) in its latest quarter as growth in bookings continued to slow in the run-up to its stock market flotation next year.
Without a fair tax on tech, it could be the end of the state as we know it
Alongside the results of last week’s US midterms came the passing of San Francisco’s Proposition C, a measure that will tax firms with an annual turnover of more than $50m (£44m) to raise an estimated $300m extra a year to help address homelessness. Last Tuesday, 60% of voters backed it: though the proposal is now snarled up in a constitutional dispute, its approval marks a big moment for a city whose housing crisis has become a matter of urgency.
Foodora Australia admits riders owed $5m were ‘more likely than not’ employees
The administrators of now-collapsed Foodora Australia have admitted it is “more likely than not” their food delivery riders were employees rather than independent contractors – and are owed more than $5m in unpaid wages.
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Addison Lee launches ‘new look’ digital booking interface to its customersAugust 9, 2019
Uber sees biggest-ever quarterly loss: $5bn in three monthsAugust 8, 2019- Will Uber ever make money? Day of reckoning looms for ride-sharing firmAugust 4, 2019
- Fleet News award winner Justin Patterson leaves Addison Lee to join SplendAugust 1, 2019
