Tag Archive Business

ByCab4Now.com

The gig is up: America’s booming economy is built on hollow promises

Uber just filed its first quarterly report as a publicly traded company. Although it lost $1bn, investors may still do well because the losses appear to be declining.

Uber drivers, on the other hand, aren’t doing well. According to a recent study, about half of New York’s Uber drivers are supporting families with children, yet 40% depend on Medicaid and another 18% on food stamps.

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ByCab4Now.com

Uber loses more than $1bn in first quarterly report since IPO

Uber lost more than $1bn in the first three months of the year, the ride-sharing company announced on Thursday.

Releasing its first quarterly report since it became a public company, Uber said it now had 93 million customers who are active on a monthly basis, 33% higher than the same period last year. The company’s revenues were $3.1bn for the three months, 20% higher but slower than the 25% annual growth Uber recorded in the prior quarter. Read More

ByCab4Now.com

Gig economy: California bill granting employee status passes assembly

The state assembly in California passed legislation on Wednesday that would require employers to recognize hundreds of thousands of gig workers as employees and could have far-reaching implications for contractors across the US.

In a win for labor advocates, Bill 5 passed 53-11 in the assembly and will now move to the senate. If signed by the governor, the legislation would put into action a decision made by the California state supreme court in May 2018 known as Dynamex, which uses a three-part test to determine if contractors qualify as employees entitled to protections and benefits.

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ByCab4Now.com

How the Amazon-Google-Uber effect sets inflation

Debates about inflation in advanced economies have changed remarkably over the past decades. Setting aside (mis)measurement issues, concerns about debilitatingly high inflation and the excessive power of bond markets are long gone, and the worry now is that excessively low inflation may hinder growth.

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ByCab4Now.com

Uber to launch Jump bike hire scheme in Islington borough

Uber is to launch its electric bike hire scheme in the UK, trialling Jump bikes in London through its app.

The global ride-hailing firm will be battling with Lime for the e-bike market, after the retreat of dockless bicycle firms from the UK.

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ByCab4Now.com

Amazon invests in food courier service Deliveroo

Amazon is investing millions in Deliveroo in a boost to the UK food delivery service as it takes on rivals such as Uber Eats and Just Eat in a competitive market.

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