Tag: US news

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‘Shut up and drive’? Option for Uber riders to avoid small talk divides drivers

Less than a week after a disappointing IPO, Uber is taking the guesswork out of whether to make friendly banter during your rides with a new “quiet” option on the app – the latest move from the tech world to digitize human interaction.


October 28, 2021 0

Uber: US labor board calls drivers contractors in blow to labor rights

Uber drivers are not subject to traditional labor protections because they are independent contractors, the National Labor Relations Board said in an opinion published on Thursday.


October 27, 2021 0

Uber workers told to ignore ‘pessimistic voices’ as shares slide

The chief executive of Uber has urged employees to ignore “pessimistic voices” after shares in the company slumped again on their second day of trading since Friday’s disappointing stock market debut.


October 27, 2021 0

Uber-rich: the wealthy people who will get even wealthier from IPO

Uber on Thursday priced its shares at $45 each on its Wall Street debut, valuing the company at a disappointing $80.4bn. While its value could rise on the first day of trading, the figure is well below Uber’s initial $100bn target as investors got the jitters about the lacklustre performance of the float staged by…
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October 27, 2021 0

Uber valued at $82.4bn as it prices IPO at $45 per share

Uber is seeking a valuation of $82.4bn, less than the $100bn it was hoping for, but still making it one of the largest IPOs of all time, and one of the most hotly anticipated stock market listings in the tech world since Facebook made its Wall Street debut seven years ago.


October 27, 2021 0

Crossing the digital picket line? Uber and Lyft offer discounts as drivers strike

Uber and Lyft are offering riders and drivers discounts and incentives to use the app on Wednesday as drivers seeking better wages strike across the US. Uber drivers are shutting off apps in protest across more than a dozen US cities as the company prepares to go public, demanding better pay and more protections. To…
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October 26, 2021 0

Loss-making Uber does not look like a business worth $90bn

Good luck to those Uber workers protesting about wages and working conditions. They picked their moment to coincide with this week’s IPO in New York, in which the company is set to be priced at $90bn (£70bn) or thereabouts, and they chose well. You do not have to be a bleeding heart liberal to think…
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October 26, 2021 0

Uber drivers strike over pay and conditions

Uber drivers have gone on strike in the UK, US and other countries including Brazil and Australia to demand better pay and conditions ahead of the ride-hailing app’s stock market debut. Thousands protested against what one UK trade union labelled “poverty pay” ahead of Friday’s flotation, which will crystalise multi-million and multi-billion dollar fortunes for…
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October 26, 2021 0