Uber said on Thursday it will shut its food delivery business in Italy and exit Israel, where it has not built sufficient market share.

The moves were "in line with our efforts to focus on markets where we have opportunities for sustainable growth", a company spokesperson said.

CEO Dara Khosrowshahi has said Uber will invest only in markets where it can be the largest or second largest player.

Uber trails Just Eat and Glovo in Italian food delivery, and Gett Taxi and Yango in the Israeli taxi and private hire market.

The company, which relies on self-employed contractors for its delivery service, said around 50 Uber employees and thousands of non-employee couriers and restaurants would be affected in Italy.

Also read |&nbsp;<a href="https://www.wionews.com/business-economy/uber-accused-of-charging-people-higher-prices-when-their-phone-battery-is-low-report-582509">Uber accused of charging customers more when their phone battery is low: Report</a>

It said it will continue to expand its mobility service there, where it works with dispatcher IT taxi.

The company's biggest markets in Europe are Britain, France, Spain and Germany.

Uber says it is seeing strong adoption by taxi drivers in Europe, who use the Uber app to supplement their curb-side ride hailing business.

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Uber said on Thursday it will shut its food delivery business in Italy and exit Israel, where it has not built sufficient market share. The moves were "in line with our efforts to focus on markets where we have opportunities for sustainable growth", a company spokesperson said.

Uber said on Thursday it will shut its food delivery business in Italy and exit Israel, where it has not built sufficient market share. The moves were "in line with our efforts to focus on markets where we have opportunities for sustainable growth", a company spokesperson said. CEO Dara Khosrowshahi has said Uber will invest only in markets where it can be the largest or second largest player. Uber trails Just Eat and Glovo in Italian food delivery, and Gett Taxi and Yango in the Israeli taxi and private hire market. The company, which relies on self-employed contractors for its delivery service, said around 50 Uber employees and thousands of non-employee couriers and restaurants would be affected in Italy. Also read | Uber accused of charging customers more when their phone battery is low: Report It said it will continue to expand its mobility service there, where it works with dispatcher IT taxi. The company's biggest markets in Europe are Britain, France, Spain and Germany. Uber says it is seeing strong adoption by taxi drivers in Europe, who use the Uber app to supplement their curb-side ride hailing business. WATCH WION LIVE HERE:

Uber to shut food delivery business in Italy, exit Israel

The authorities in the capital city of New Delhi have warned they will start impounding bike taxis of cab companies such as Uber, Ola and Rapido if they do not cease operations, according to a Reuters report.

The authorities in the capital city of New Delhi have warned they will start impounding bike taxis of cab companies such as Uber, Ola and Rapido if they do not cease operations, according to a Reuters report. The warning comes a day after Supreme Court backed the Delhi government's ban on bike taxis. The government is of the view that bike taxis violate local city laws while cab aggregators have argued that the ban hurts the livelihood of its drivers. The apex court on Monday overturned a Delhi High Court decision that allowed Rapido and Uber to continue operating without aggregator licenses up until a final policy had been announced. Justices Aniruddha Bose and Rajesh Bindal of the vacation bench heard the case and overturned the HC order. The bench, however, gave the liberty to bike-taxi aggregators to request an urgent hearing of their pleas by the Delhi HC. Senior Partner, AZB & Partners representing Rapido Abhishek Awasthi said, "A vacation bench of the Supreme Court has stayed the Delhi High Court's Order dated May 26, 2023, which, inter alia, stayed the operation of the public notice issued by the Delhi Government on February 19, 2023, with a direction to Delhi High Court to decide the matter pending before it expeditiously. Roppen has already applied for an Aggregator License under the MORTH Guidelines issued in 2020 under Section 93 of the Motor Vehicles Act, 1988 to the Delhi Government, since the Delhi Government has not framed any guidelines till date. Non transport vehicles (including two wheelers) are permitted to provide ride pooling under the MORTH Guidelines. The current draft guidelines issued by Delhi Government under Section 93, inter alia, permits the operation of bike taxi in GNCT of Delhi and also recognises the existing aggregators and further allows them to apply for license within given timeframe.” Meanwhile, the Delhi government has assured that it will be framing guidelines and licensing policies for the bike aggregators by the end of July to regulate operations. Delhi government's ban Earlier this year in February, the Delhi government, bringing down the sledgehammer, banned two-wheeler cab services provided by ride-hailing firms. The Delhi Transport Department issued a public notice stating that using private two-wheelers to carry passengers for hire violates Indian law. It said the bike taxis were operating without proper licenses or permits as required under Section 93 of the Motor Vehicles Act. It added that non-transport two-wheelers should not be used as taxis without a policy in place. Watch | WION Climate Tracker | Math teacher from India's Kashmir builds solar car from scratch × “It has come to light that that bike taxi service provided by Uber, Ola and Rapido have violated transport rules. Hence, the service has been by the city's transport department,” it said in the notice. “It has been brought to the notice that two-wheelers having non-transport (private) registration mark/numbers are being used to carry passengers on hire which is purely commercial operation and a violation of Motor Vehicle Act, 1988.” Also read | Ola, Uber, Rapido bike taxi services banned in India's capital Delhi Apart from Delhi, the transport department of states such as Maharashtra, Tamil Nadu and Karnataka have also passed similar regulations and impounded bike taxi aggregators in the absence of a proper policy. According to a report published by Allied Market Research last year, India's motorbike taxi market was valued at $ 50.5 million and was expected to reach around $1.5 billion by 2030. While the tussle between the cab operators and the government lengthens, the customers are the worst hit who had an affordable alternative to bridge the last-mile connectivity. (With inputs from agencies) WATCH WION LIVE HERE:

Authorities in Delhi warn they will impound bike taxis if Uber, Ola and Rapido do not comply with ban

Uber's diversity Chief has come under Fire for her own skewed take on diversity. A session on this was called 'don't call me Karen'. Karen is a name given by netizens to some middle-aged white women someone who is ignorant and feels entitled to special privileges. It is a satire on a common Trend seen in some Americans who feel Superior to others now coming back to Uber the session aimed at concluding that calling someone Karen is racist the invitation asked white women at Uber to comment on the matter as well but what the session did do is complicate the conversation even more those who attended it felt like it was a lecture on difficulties experienced by white women employees felt the event organizers insulted the actual issue about racism which is often propagated by the whites themselves.

Uber suspended its diversity chief after she hosted events titled 'don’t call me Karen'

Ride-hailing giant Uber posted better-than-expected results for the first quarter of 2023, media reports said on Tuesday.&nbsp;

The company reported an 8-cent loss per share, compared to the 9-cent loss expected by analysts. Its revenue for the quarter came in at $8.82 billion, beating the expected $8.72 billion. Its revenue was up 29 percent compared to&nbsp;the same period in the previous year.&nbsp;

The company's adjusted EBITDA&nbsp;was $761 million, more than the expected $687 million. Its gross bookings for the quarter were $31.4 billion, up 19 percent&nbsp;year-on-year.&nbsp;EBIDTA shows a company's operative performance while gross bookings show the total revenue generated by a business before deductions.&nbsp;

The buoyant Q1 results pushed Uber's&nbsp;shares by 7 percent in the US stock markets.&nbsp;&nbsp;

In the second quarter (April-June) of 2023, Uber expects to report gross bookings between $33 billion to $34 billion and an adjusted EBITDA of $800 million to $850 million.

Expressing his delight over the quarterly results, Uber CEO Dara Khosrowshahi said that its global scale provides a "significant data advantage" over its competitors. He added that Artificial Intelligence has been helping the company&nbsp;predict accurate arrival times for rides and deliveries and expedite driver onboarding by processing documents more "reliably and cost-efficiently."

Mobility, delivery segments drive growth

Meanwhile, Uber's mobility segment reported gross bookings of $14.98 billion in the first quarter, up 40 percent&nbsp;from last year.&nbsp;On the other hand, the delivery segment, including Uber Eats, reported gross bookings of $15.02 billion, up 8 percent compared to last year.&nbsp;

The number of monthly active platform consumers on Uber climbed to 130 million in the fourth quarter, up 13 percent&nbsp;year-on-year. The company reported that 2.12 billion trips were completed on its platform during the period.&nbsp;

According to Khosrowshahi, consumers have been spending more on services and less on retail, which is shipped by freight. "We are seeing prices come down from the historically elevated levels that we saw two years ago," he said.

Uber has had a tumultuous few years since its initial public offering in 2019, with the COVID-19 pandemic significantly impacting its ride-hailing business. However, the company's pivot to its delivery segment helped it stay afloat during the pandemic.

In every quarter of 2022, the company's mobility segment surpassed Uber Eats in total revenue as riders began to take more trips.

Uber’s revenue boom will instill a new wave of confidence among its investors and general public, amid rising layoffs and depleting economy. With its global scale and significant data advantage, Uber is well-positioned to continue to grow its user base and revenue in the coming years.&nbsp;&nbsp;

Ride-hailing giant Uber posted better-than-expected results for the first quarter of 2023, media reports said on Tuesday. The company reported an 8-cent loss per share, compared to the 9-cent loss expected by analysts.

Ride-hailing giant Uber posted better-than-expected results for the first quarter of 2023, media reports said on Tuesday. The company reported an 8-cent loss per share, compared to the 9-cent loss expected by analysts. Its revenue for the quarter came in at $8.82 billion, beating the expected $8.72 billion. Its revenue was up 29 percent compared to the same period in the previous year. The company's adjusted EBITDA was $761 million, more than the expected $687 million. Its gross bookings for the quarter were $31.4 billion, up 19 percent year-on-year. EBIDTA shows a company's operative performance while gross bookings show the total revenue generated by a business before deductions. The buoyant Q1 results pushed Uber's shares by 7 percent in the US stock markets. In the second quarter (April-June) of 2023, Uber expects to report gross bookings between $33 billion to $34 billion and an adjusted EBITDA of $800 million to $850 million. Expressing his delight over the quarterly results, Uber CEO Dara Khosrowshahi said that its global scale provides a "significant data advantage" over its competitors. He added that Artificial Intelligence has been helping the company predict accurate arrival times for rides and deliveries and expedite driver onboarding by processing documents more "reliably and cost-efficiently." Mobility, delivery segments drive growth Meanwhile, Uber's mobility segment reported gross bookings of $14.98 billion in the first quarter, up 40 percent from last year. On the other hand, the delivery segment, including Uber Eats, reported gross bookings of $15.02 billion, up 8 percent compared to last year. The number of monthly active platform consumers on Uber climbed to 130 million in the fourth quarter, up 13 percent year-on-year. The company reported that 2.12 billion trips were completed on its platform during the period. According to Khosrowshahi, consumers have been spending more on services and less on retail, which is shipped by freight. "We are seeing prices come down from the historically elevated levels that we saw two years ago," he said. Uber has had a tumultuous few years since its initial public offering in 2019, with the COVID-19 pandemic significantly impacting its ride-hailing business. However, the company's pivot to its delivery segment helped it stay afloat during the pandemic. In every quarter of 2022, the company's mobility segment surpassed Uber Eats in total revenue as riders began to take more trips. Uber’s revenue boom will instill a new wave of confidence among its investors and general public, amid rising layoffs and depleting economy. With its global scale and significant data advantage, Uber is well-positioned to continue to grow its user base and revenue in the coming years.

Uber accelerates ahead: Q1 results exceed analysts' predictions

The customers of the Uber application in the United Kingdom will soon be able to book flight tickets through the ride-booking app, as the company aims to offer various forms of transport to its customers.&nbsp;

The new feature which allows consumers to book international and domestic flights is being rolled out on the UK application of Uber and will be available to all users in Britain by the summer.

Uber stated the function of flight booking was part of its ambition to “create a seamless door-to-door travel solution” alongside the car ride-sharing function, for which it was first known.&nbsp;

ALSO READ | <a href="https://www.wionews.com/trending/delhi-most-forgetful-city-in-uber-lost-and-found-index-2023-588653">Delhi India’s ‘most forgetful city’ in Uber’s ‘Lost and Found Index 2023’</a>

The company has entered into a partnership with online travel agent Hopper which will allow users to book flights and in return, it will receive a small commission from every sale.&nbsp;

"The addition of flights to the Uber app is a big win for UK consumers who are looking for an easier way to book travel," stated Frederic Lalonde, CEO and co-founder of Hopper, in a press release.&nbsp;

"This new partnership will offer Uber users choice, transparency and flexibility when booking flights, all in the same place they are already booking their other transportation," he added.&nbsp;

Meanwhile, Uber's general manager in UK Andrew Brem said, “Our new functionality will make the booking and managing of air travel simple and stress-free, with the booking process taking as little as one minute.”

Uber’s chief executive, Dara Khosrowshahi, stated that he had planned to make his company “an operating system for everyday life” in 2019 when the ride-hailing application was merged with Uber Eats food delivery services.&nbsp;

He added that a feature was also added in the application to highlight local public transport options.

WATCH | Uber CEO Dara Khosrowshahi turns driver to understand workers

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The people in the UK, which is one of the largest markets of Uber outside North America, are already able to book coach tickets on the application's National Express and Megabus services, as well as get tickets for train journeys on Eurostar and across the National Rail network.&nbsp;

The US company has held its naming rights to the Thames Clippers commuter boat service from 2020 in London, which was later rebranded Uber Boat.&nbsp;

The tickets for these journeys can be booked through Uber’s app which permits passengers to board the riverboats by using a QR code on their phone.

To book flight tickets, Uber users will be required to enter their travel information, which includes where they are flying from and to, and the date of travel as planned. 
 
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The customers of the Uber application in the United Kingdom will soon be able to book flight tickets through the ride-booking app, as the company aims to offer various forms of transport to its customers.

The customers of the Uber application in the United Kingdom will soon be able to book flight tickets through the ride-booking app, as the company aims to offer various forms of transport to its customers. The new feature which allows consumers to book international and domestic flights is being rolled out on the UK application of Uber and will be available to all users in Britain by the summer. Uber stated the function of flight booking was part of its ambition to “create a seamless door-to-door travel solution” alongside the car ride-sharing function, for which it was first known. ALSO READ | Delhi India’s ‘most forgetful city’ in Uber’s ‘Lost and Found Index 2023’ The company has entered into a partnership with online travel agent Hopper which will allow users to book flights and in return, it will receive a small commission from every sale. "The addition of flights to the Uber app is a big win for UK consumers who are looking for an easier way to book travel," stated Frederic Lalonde, CEO and co-founder of Hopper, in a press release. "This new partnership will offer Uber users choice, transparency and flexibility when booking flights, all in the same place they are already booking their other transportation," he added. Meanwhile, Uber's general manager in UK Andrew Brem said, “Our new functionality will make the booking and managing of air travel simple and stress-free, with the booking process taking as little as one minute.” Uber’s chief executive, Dara Khosrowshahi, stated that he had planned to make his company “an operating system for everyday life” in 2019 when the ride-hailing application was merged with Uber Eats food delivery services. He added that a feature was also added in the application to highlight local public transport options. WATCH | Uber CEO Dara Khosrowshahi turns driver to understand workers The people in the UK, which is one of the largest markets of Uber outside North America, are already able to book coach tickets on the application's National Express and Megabus services, as well as get tickets for train journeys on Eurostar and across the National Rail network. The US company has held its naming rights to the Thames Clippers commuter boat service from 2020 in London, which was later rebranded Uber Boat. The tickets for these journeys can be booked through Uber’s app which permits passengers to board the riverboats by using a QR code on their phone. To book flight tickets, Uber users will be required to enter their travel information, which includes where they are flying from and to, and the date of travel as planned. You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here. WATCH WION LIVE HERE

UK: Uber app to offer users facility to book flight tickets by summer

Uber has released its annual lost & found index. New Delhi has overtaken Mumbai on the list. Passengers in Delhi lose their belongings in Uber cabs more than those in other cities. Molly Gambhir reports.

Gravitas: Uber says people of Delhi are most forgetful

Delhi pipped Mumbai to become the ‘most forgetful city’ in ride hailing app Uber's 'Lost &amp; Found Index 2023' that enlisted what people in cities left behind in the cab after their ride was over. Mumbai held the top spot for two years, but now has come second. Hyderabad came third in the rankings and Bengaluru bagged the fourth place. In the year 2019, Bengaluru was at the top.

Over the last one year, people have left behind various items like phones, bags, wallets, clothing and others in Uber vehicles. These items were followed by utility objects like water bottles, keys and accessories like spectacles and jewellery.

Interestingly, people also forgot brooms, college admit cards and children's strollers in their Uber rides. One person apparently forgot walking stick while the other even left a television. Moreover, there was someone who forgot western commode.

Uber's rankings revealed that Indians were most likely to forget things on Fridays and on weekends.

“We’ve all been there: that moment of panic when you first realise you’ve misplaced an important, or even sentimental, personal item. With Uber, you always have the option to contact support so you can attempt retrieving your belongings. This annual survey is a fun and informative way of reminding our riders how easy it is to raise a retrieval request for a lost item in-app, and with a busy summer travel season on the anvil, we thought it was a good time for a quick refresher,” said Nitish Bhushan, Director, Central Operations, Uber

Top 10 most commonly forgotten items

Phone 
Laptop bags 
Wallet 
Clothing 
Headphones 
Water Bottle 
Spectacles/ sunglasses 
Keys 
Jewellery 
Watch

Top 10 most unique items lost

TV 
Western Commode 
Packets of Milk, and Curtains 
Broom 
College admit card 
Walking stick 
Induction stove 
Family collage 
Heavy machinery 
Printed ‘dupatta’ (scarf)

Top 3 most forgetful days of the week

Saturday 
Sunday 
Friday

Top 3 brands of phones left behind

Samsung 
Apple 
OnePlus

Top 5 colours of forgotten items

Red 
Blue 
Yellow 
Rose 
Pink

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Delhi pipped Mumbai to become the ‘most forgetful city’ in ride hailing app Uber's 'Lost & Found Index 2023' that enlisted what people in cities left behind in the cab after their ride was over.

Delhi pipped Mumbai to become the ‘most forgetful city’ in ride hailing app Uber's 'Lost & Found Index 2023' that enlisted what people in cities left behind in the cab after their ride was over. Mumbai held the top spot for two years, but now has come second. Hyderabad came third in the rankings and Bengaluru bagged the fourth place. In the year 2019, Bengaluru was at the top. Over the last one year, people have left behind various items like phones, bags, wallets, clothing and others in Uber vehicles. These items were followed by utility objects like water bottles, keys and accessories like spectacles and jewellery. Interestingly, people also forgot brooms, college admit cards and children's strollers in their Uber rides. One person apparently forgot walking stick while the other even left a television. Moreover, there was someone who forgot western commode. Uber's rankings revealed that Indians were most likely to forget things on Fridays and on weekends. “We’ve all been there: that moment of panic when you first realise you’ve misplaced an important, or even sentimental, personal item. With Uber, you always have the option to contact support so you can attempt retrieving your belongings. This annual survey is a fun and informative way of reminding our riders how easy it is to raise a retrieval request for a lost item in-app, and with a busy summer travel season on the anvil, we thought it was a good time for a quick refresher,” said Nitish Bhushan, Director, Central Operations, Uber Top 10 most commonly forgotten items Phone Laptop bags Wallet Clothing Headphones Water Bottle Spectacles/ sunglasses Keys Jewellery Watch Top 10 most unique items lost TV Western Commode Packets of Milk, and Curtains Broom College admit card Walking stick Induction stove Family collage Heavy machinery Printed ‘dupatta’ (scarf) Top 3 most forgetful days of the week Saturday Sunday Friday Top 3 brands of phones left behind Samsung Apple OnePlus Top 5 colours of forgotten items Red Blue Yellow Rose Pink You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here. WATCH WION LIVE HERE ×

Delhi India’s ‘most forgetful city’ in Uber’s ‘Lost and Found Index 2023’

Reports say that Uber is surging prices based on the phone battery percentage of a customer. Is Uber stealing customers' personal data? Molly Gambhir brings you a report.

Gravitas: Is Uber spying on your battery percentage?

A&nbsp;report by the Belgium-based&nbsp;newspaper Derniere Heure says&nbsp;that Uber has allegedly been increasing the prices for people if their phone battery is low. The media outlet conducted a small study which showed how the pricing for users in Brussels was based on how much battery they had on their phones. The test was conducted after some users claim to have seen varied prices for the same trips, however, the ride-hailing giant has since refuted these claims.&nbsp;

<meta charset="utf-8" />

What did the investigation find?

Two phones, one with 84 per cent battery and the other with 12 per cent, were used for the investigation while requesting a ride from their office in Brussels to Tour and Taxis in the centre. The report shows a notable discrepancy in prices, as the phone which was at 12 per cent was charged 17.56 euros ($19.32), as opposed to the phone with an 84 per cent battery which charged 16.6 euros ($18.26) for the same distance.&nbsp;

ALSO READ |&nbsp;<a href="https://www.wionews.com/business-economy/uber-ceo-khosrowshahi-moonlighted-as-driver-in-2022-this-is-what-he-learnt-580966">Uber CEO Khosrowshahi 'moonlighted' as driver in 2022, this is what he learnt</a>

What did Uber say about these accusations?

In response, the company in a statement to the Brussels-based newspaper&nbsp;has since denied these claims and said, “Uber does not take into account the phone’s battery level to calculate the price of a trip. The dynamic pricing applied to trips booked via Uber is determined by the existing demand for rides and the supply of drivers who can respond to it.”&nbsp;

It added, “During peak hours, when there are many ride requests and few available drivers in a certain geographical area, this may impact the price of the trip.” Uber also said that the app is not able to measure the battery of a user’s phone.

ALSO READ |&nbsp;<a href="https://www.wionews.com/india-news/uber-signs-mou-with-tata-motors-to-bring-25000-evs-on-platform-in-india-563989">Uber signs MoU with Tata Motors to bring 25,000 EVs on platform in India</a>

Not the first time

This is not the first time that the ride-hailing giant has been accused of taking advantage of its users’ battery life. In a 2016 interview with the National Public Radio (NPR), a Washington-based nonprofit media organisation, Uber’s former head of economic research, Keith Chen said that their company had found that users with lower battery levels were more willing to pay for surge pricing, as per Vice.&nbsp;

However, Chen denied that the firm was explicitly hiking pricing for these customers.&nbsp; 
 
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A report by the Belgium-based newspaper Derniere Heure says that Uber has allegedly been increasing the prices for people if their phone battery is low. The media outlet conducted a small study which showed how the pricing for users in Brussels was based on how much battery they had on their phones.

A report by the Belgium-based newspaper Derniere Heure says that Uber has allegedly been increasing the prices for people if their phone battery is low. The media outlet conducted a small study which showed how the pricing for users in Brussels was based on how much battery they had on their phones. The test was conducted after some users claim to have seen varied prices for the same trips, however, the ride-hailing giant has since refuted these claims. What did the investigation find? Two phones, one with 84 per cent battery and the other with 12 per cent, were used for the investigation while requesting a ride from their office in Brussels to Tour and Taxis in the centre. The report shows a notable discrepancy in prices, as the phone which was at 12 per cent was charged 17.56 euros ($19.32), as opposed to the phone with an 84 per cent battery which charged 16.6 euros ($18.26) for the same distance. ALSO READ | Uber CEO Khosrowshahi 'moonlighted' as driver in 2022, this is what he learnt What did Uber say about these accusations? In response, the company in a statement to the Brussels-based newspaper has since denied these claims and said, “Uber does not take into account the phone’s battery level to calculate the price of a trip. The dynamic pricing applied to trips booked via Uber is determined by the existing demand for rides and the supply of drivers who can respond to it.” It added, “During peak hours, when there are many ride requests and few available drivers in a certain geographical area, this may impact the price of the trip.” Uber also said that the app is not able to measure the battery of a user’s phone. ALSO READ | Uber signs MoU with Tata Motors to bring 25,000 EVs on platform in India Not the first time This is not the first time that the ride-hailing giant has been accused of taking advantage of its users’ battery life. In a 2016 interview with the National Public Radio (NPR), a Washington-based nonprofit media organisation, Uber’s former head of economic research, Keith Chen said that their company had found that users with lower battery levels were more willing to pay for surge pricing, as per Vice. However, Chen denied that the firm was explicitly hiking pricing for these customers. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Uber accused of charging customers more when their phone battery is low: Report

Uber CEO Dara Khosrowshahi recently revealed that he spent several months as the company's driver to understand the challenges faced by the drivers working for company.

Uber CEO Dara Khosrowshahi turns driver to understand workers

Ride-hailing company Lyft is getting a new CEO as it reels under financial crisis. The company’s co-founders Logan Green and John Zimmer will step down from their respective roles of CEO and President by April end. David Risher, a season tech executive, will take over the reins on April 17 as the company’s CEO. Green and Zimmer will transition to non-executive roles and serve as chair and vice chair of Lyft’s board.

<h2>Who is David Risher?</h2>

David Risher will be Lyft’s new CEO, and the news has already taken the investors by storm. The shares of the company rose 5% within hours. Many believe Risher has the required skills to upend the sorry state of the ride-hailing corporate, which has been battered by rising operational costs, lack of labour and neck-breaking competition from Uber.

Risher has previously worked with Amazon, who rose through the ranks working with its founder and chairman Jeff Bezos. He started working at Amazon in 1997. In 2002, before leaving the company, he was serving as SVP of marketing and merchandising. Today, Risher serves as the CEO and co-founder of Worldreader, a nonprofit organisation that encourages kids to read digital books.

<h2>Will David Risher beat Uber?</h2>

David Risher believes Lyft might be an underdog to Uber in the ride-hailing business but it could appeal differently to customers. Risher said, “When I look at the 800-pound gorilla, I see a company that I think is very business-model driven. But we’re going to be customer driven.”&nbsp;

“I am honored to step into the CEO role at such an important moment in the company’s history, and am prepared to take this business to new levels of success,” Risher added.

His impeccable record at Amazon further reinforces the investors’ confidence in Risher. According to a statement from Lyft, he contributed to Amazon’s transformation from an online bookseller with $15 million in yearly sales to the "everything store" with over $4 billion in sales. Now, Lyft’s investors are expecting to see such a corporate miracle again with Risher at the helm.

<h2>Lyft vs Uber: Who stands where?</h2>

In its most recent quarter, Lyft did report record revenue of $1.2 billion, but with $588 million in losses. On the flip side, Uber announced $8.6 billion in revenue and informed investors that it anticipated operating income profitability this year. This showed that Uber's business was growing. 
&nbsp;

Ride-hailing company Lyft is getting a new CEO as it reels under financial crisis. The company’s co-founders Logan Green and John Zimmer will step down from their respective roles of CEO and President by April end.

Ride-hailing company Lyft is getting a new CEO as it reels under financial crisis. The company’s co-founders Logan Green and John Zimmer will step down from their respective roles of CEO and President by April end. David Risher, a season tech executive, will take over the reins on April 17 as the company’s CEO. Green and Zimmer will transition to non-executive roles and serve as chair and vice chair of Lyft’s board. Who is David Risher? David Risher will be Lyft’s new CEO, and the news has already taken the investors by storm. The shares of the company rose 5% within hours. Many believe Risher has the required skills to upend the sorry state of the ride-hailing corporate, which has been battered by rising operational costs, lack of labour and neck-breaking competition from Uber. Risher has previously worked with Amazon, who rose through the ranks working with its founder and chairman Jeff Bezos. He started working at Amazon in 1997. In 2002, before leaving the company, he was serving as SVP of marketing and merchandising. Today, Risher serves as the CEO and co-founder of Worldreader, a nonprofit organisation that encourages kids to read digital books. Will David Risher beat Uber? David Risher believes Lyft might be an underdog to Uber in the ride-hailing business but it could appeal differently to customers. Risher said, “When I look at the 800-pound gorilla, I see a company that I think is very business-model driven. But we’re going to be customer driven.” “I am honored to step into the CEO role at such an important moment in the company’s history, and am prepared to take this business to new levels of success,” Risher added. His impeccable record at Amazon further reinforces the investors’ confidence in Risher. According to a statement from Lyft, he contributed to Amazon’s transformation from an online bookseller with $15 million in yearly sales to the "everything store" with over $4 billion in sales. Now, Lyft’s investors are expecting to see such a corporate miracle again with Risher at the helm. Lyft vs Uber: Who stands where? In its most recent quarter, Lyft did report record revenue of $1.2 billion, but with $588 million in losses. On the flip side, Uber announced $8.6 billion in revenue and informed investors that it anticipated operating income profitability this year. This showed that Uber's business was growing.

Who is David Risher—the new CEO of Lyft?  Will he be able to beat Uber at its own game?

A Californian appeals court has ruled that "gig" economy firms like Uber and Lyft can continue to treat their state-based drivers as independent contractors. This verdict comes in a case regarding a labour measure known as Proposition 22. Labour groups have for long opposed the measure; they claim that it robs them of sick leave and other rights. The appeals court, however, found the measure largely constitutional. This decision overturns an earlier decision by a lower court. The 2021 verdict said that Proposition 22 affected lawmakers' powers to set standards at the workplace.

A three-judge panel on Monday ruled that the measure was legal and California-based workers at Uber, Lyft and other similar firms can continue to be treated as independent contractors.&nbsp;

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The judges, however, removed a clause that put restrictions on collective bargaining by the independent contractors.

Uber's chief legal officer, Tony West, hailed the verdict and said that "today's ruling is a victory for app-based workers and millions of Californians who voted for Prop 22."

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"We're pleased that the court respected the will of the people and that Prop 22 will remain in place, preserving independence for drivers," he added.

Lyft too celebrated the victory and said that Proposition 22 "protects the independence drivers value and gives them new, historic benefits."

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Following the ruling, shares of the two companies experienced an almost five per cent high in after-hours trading. Proposition 22 was passed by Californian voters in November 2020. Since then, many drivers and labour groups have opposed it. They claim that the proposition denies gig workers benefits like sick days, leave and overtime pay, all of which are available to 'employees'.&nbsp;

(With inputs from agencies)

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A Californian appeals court has ruled that "gig" economy firms like Uber and Lyft can continue to treat their state-based drivers as independent contractors. This verdict comes in a case regarding a labour measure known as Proposition 22.

A Californian appeals court has ruled that "gig" economy firms like Uber and Lyft can continue to treat their state-based drivers as independent contractors. This verdict comes in a case regarding a labour measure known as Proposition 22. Labour groups have for long opposed the measure; they claim that it robs them of sick leave and other rights. The appeals court, however, found the measure largely constitutional. This decision overturns an earlier decision by a lower court. The 2021 verdict said that Proposition 22 affected lawmakers' powers to set standards at the workplace. A three-judge panel on Monday ruled that the measure was legal and California-based workers at Uber, Lyft and other similar firms can continue to be treated as independent contractors. Watch | Global bank stock rout deepens after SVB collapse The judges, however, removed a clause that put restrictions on collective bargaining by the independent contractors. Uber's chief legal officer, Tony West, hailed the verdict and said that "today's ruling is a victory for app-based workers and millions of Californians who voted for Prop 22." Also read | UK: Crypto lender loses USD 200 million to hackers "We're pleased that the court respected the will of the people and that Prop 22 will remain in place, preserving independence for drivers," he added. Lyft too celebrated the victory and said that Proposition 22 "protects the independence drivers value and gives them new, historic benefits." Also read | Apple's top executives are leaving at a breakneck speed. Here's why Following the ruling, shares of the two companies experienced an almost five per cent high in after-hours trading. Proposition 22 was passed by Californian voters in November 2020. Since then, many drivers and labour groups have opposed it. They claim that the proposition denies gig workers benefits like sick days, leave and overtime pay, all of which are available to 'employees'. (With inputs from agencies) WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

California appeal court allows for Uber, Lyft worker to be classified as individual contractors

India’s national capital New Delhi has banned two-wheeler ride service provided by ride-hailing firms Uber, Ola and Rapido, putting millions of jobs in jeopardy.

The decision deals a serious blow to the commuters who primarily rely on bike taxi services as they offer cheap fares compared to car rides.

The Delhi Transport Department issued a public notice on Monday that using private two-wheelers to carry passengers for hire violates Indian law. It said that the ban order will take place with immediate effect.

“It has come to light that that bike taxi service provided by Uber, Ola and Rapido have violated transport rules. Hence, the service has been by the city's transport department,” it said in the notice.

“It has been brought to the notice that two-wheelers having non-transport (private) registration mark/numbers are being used to carry passengers on hire which is purely commercial operation and a violation of Motor Vehicle Act, 1988.”

According to the Motor Vehicles Act, private vehicles cannot be used for commercial operations in India.

According to the notice, a fine of Rs. 5,000 (USD 60) will be imposed on the first offence, while for the second offense, a fine of ₹10,000 (USD 120) and imprisonment of up to 1 year can be imposed. Apart from that, the driver can also lose his license for 3 months.

Whereas, the fine for the companies will be much higher. These digital platforms providing bike taxi rides to users will be charged with a fine of Rs 100,000 (USD 1,200) if they facilitate the operation.

It comes just weeks after the Supreme Court banned Rapido services in western state of Maharashtra and declined relief to bike, taxi and auto service provider&nbsp;as the company was operating in the state without a legal license.

According to a report published by Allied Market Research last year&nbsp;, India's motorbike taxi market was valued at $50.5mn, and was expected to reach around $1.5bn by 2030.

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India’s national capital New Delhi has banned two-wheeler ride service provided by ride-hailing firms Uber, Ola and Rapido, putting millions of jobs in jeopardy.

India’s national capital New Delhi has banned two-wheeler ride service provided by ride-hailing firms Uber, Ola and Rapido, putting millions of jobs in jeopardy. The decision deals a serious blow to the commuters who primarily rely on bike taxi services as they offer cheap fares compared to car rides. The Delhi Transport Department issued a public notice on Monday that using private two-wheelers to carry passengers for hire violates Indian law. It said that the ban order will take place with immediate effect. “It has come to light that that bike taxi service provided by Uber, Ola and Rapido have violated transport rules. Hence, the service has been by the city's transport department,” it said in the notice. “It has been brought to the notice that two-wheelers having non-transport (private) registration mark/numbers are being used to carry passengers on hire which is purely commercial operation and a violation of Motor Vehicle Act, 1988.” According to the Motor Vehicles Act, private vehicles cannot be used for commercial operations in India. According to the notice, a fine of Rs. 5,000 (USD 60) will be imposed on the first offence, while for the second offense, a fine of ₹10,000 (USD 120) and imprisonment of up to 1 year can be imposed. Apart from that, the driver can also lose his license for 3 months. Whereas, the fine for the companies will be much higher. These digital platforms providing bike taxi rides to users will be charged with a fine of Rs 100,000 (USD 1,200) if they facilitate the operation. It comes just weeks after the Supreme Court banned Rapido services in western state of Maharashtra and declined relief to bike, taxi and auto service provider as the company was operating in the state without a legal license. According to a report published by Allied Market Research last year , India's motorbike taxi market was valued at $50.5mn, and was expected to reach around $1.5bn by 2030. WATCH WION LIVE HERE

Ola, Uber, Rapido bike taxi services banned in India's capital Delhi

Marking a key milestone in sustainable mobility in India, Uber has signed a Memorandum of Understanding (MoU) with Tata Motors to bring 25,000 electric vehicles onto the platform. This agreement is both in alignment with India's vision to reach net zero by 2070 and Uber's commitment to 100% zero-emission vehicle rides by 2040.

This deal between a ride-hailing app and India’s top carmaker is the largest EV commitment ever of this kind. In a statement, Uber said that Tata Motors will begin deliveries of "XPRES-T EVs to Uber fleet partners in a phased manner starting this month."&nbsp;

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The partnership will aid the electrification of Uber service across Delhi NCR, Mumbai, Kolkata, Chennai, Hyderabad, Bengaluru and Ahmedabad, the statement added.&nbsp;

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Shailesh Chandra, Managing Director of Tata Motors Passenger Vehicles and Tata Passenger Electric Mobility said, "With this association, we have taken another leap towards enhancing electric mobility across the country, and will continue our work in ‘Moving India’ to a safer, smarter and greener future.”

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Earlier, Tata Motors also partnered with BluSmart Mobility to expand the Electric Vehicles fleet in Delhi NCR.&nbsp;In a telephone conversation with Reuters, Prabhjeet Singh, President, of Uber India and South Asia, said, "When you're looking at great transitions, you also don't want to rush into those without necessarily fully appreciating the economics and trade-offs."&nbsp;

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Marking a key milestone in sustainable mobility in India, Uber has signed a Memorandum of Understanding (MoU) with Tata Motors to bring 25,000 electric vehicles onto the platform.

Marking a key milestone in sustainable mobility in India, Uber has signed a Memorandum of Understanding (MoU) with Tata Motors to bring 25,000 electric vehicles onto the platform. This agreement is both in alignment with India's vision to reach net zero by 2070 and Uber's commitment to 100% zero-emission vehicle rides by 2040. This deal between a ride-hailing app and India’s top carmaker is the largest EV commitment ever of this kind. In a statement, Uber said that Tata Motors will begin deliveries of "XPRES-T EVs to Uber fleet partners in a phased manner starting this month." Also Read | US President Joe Biden lands in Kyiv on surprise visit, announces more arms supplies for Ukraine The partnership will aid the electrification of Uber service across Delhi NCR, Mumbai, Kolkata, Chennai, Hyderabad, Bengaluru and Ahmedabad, the statement added. Also Read | Undercover investigation reveals women's sexual abuse on British-owned Kenyan tea farms Shailesh Chandra, Managing Director of Tata Motors Passenger Vehicles and Tata Passenger Electric Mobility said, "With this association, we have taken another leap towards enhancing electric mobility across the country, and will continue our work in ‘Moving India’ to a safer, smarter and greener future.” Watch | Ukraine: Biden arrives in Kyiv on surprise visit Earlier, Tata Motors also partnered with BluSmart Mobility to expand the Electric Vehicles fleet in Delhi NCR. In a telephone conversation with Reuters, Prabhjeet Singh, President, of Uber India and South Asia, said, "When you're looking at great transitions, you also don't want to rush into those without necessarily fully appreciating the economics and trade-offs." WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Uber signs MoU with Tata Motors to bring 25,000 EVs on platform in India

New York City (NYC) mayor Eric Adams announced on Thursday (January 26) said that ride-hailing companies Uber and Lyft will be required to have a zero-emissions fleet by the year 2030.

New York City (NYC) mayor Eric Adams announced on Thursday (January 26) said that ride-hailing companies Uber and Lyft will be required to have a zero-emissions fleet by the year 2030. In his second state of the city address, Adams highlighted the importance of reducing emissions to create a healthier and more sustainable city. Adams will likely implement this plan Taxi and Limousine Commission (TLC), which regulates the for-hire vehicle industry, including Uber and Lyft, a report by the Verge early Friday said. "Today, we are announcing that Uber and Lyft will be required to have a zero-emissions fleet by 2030. That’s zero emissions for over 100,000 vehicles on our city streets. And it will be achieved with no new costs for individual drivers," Adams said on Thursday He added that both companies were embracing this shift and the administration looked forward to working with them. "We’re also encouraging New Yorkers who drive to make the switch to electric vehicles as well, adding charging stations in all five boroughs," the mayor further said. Paul Augustine, Lyft’s director of sustainability, said in a statement that the company was excited to partner with "New York City on our journey," the Verge report said. Augustine added that New York’s commitment will accelerate an equitable city-wide transition to electric, and the company was eager to collaborate with the TLC on an ambitious plan for a rideshare clean mile standard. On the other hand, Josh Gold, senior director of policy at Uber, said in a statement that Uber applauds the mayor’s ambition for reducing emissions, adding the company making real progress to become the first zero-emissions mobility platform in North America. The Verge report further said that both Lyft and Uber are in the process of taking steps to incentivise their drivers to switch to electric vehicles, either through partnerships with rental car companies or higher fares for drivers who use EVs.

Uber, Lyft will be required to be zero emission by 2030: NYC mayor

In the wake of the recent disputes between Uber and other taxi drivers in Mexico's top beachside resorts, the United States on Monday issued a security alert to its citizens travelling to the country. The face-off between Uber and other taxi drivers comes after 11 January court ruling which stated that Uber drivers could work legally in the Mexican state of Quintana Roo without a concession required by transport companies. 12,000 member Taxi driver unions have accused Uber of unfair competition.&nbsp;

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Since the court ruling, many reports of violence have emerged in the Mexican state. As per AFP, some Uber drivers have alleged that state taxi drivers have not just intercepted them but have also forced passengers to get out of their vehicles. Others Uber drivers have even alleged they were beaten or had taxi drivers throwing stones at their cars. Worst of all, some also claimed of receiving death threats.&nbsp;

"In light of widely publicized security incidents in popular tourist destinations, please remember that all destinations have some level of risk. &nbsp;Violent crime – such as homicide, kidnapping, carjacking, and robbery – is widespread and common in Mexico," the US Embassy in Mexico said in a statement while cautioning its citizens travelling to Mexico.&nbsp;

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The Mexican state of Quintana Roo is home to Cancún city and a number of other islands and towns. Cancun is a popular tourist destination in Mexico and annually caters to over 30 million tourists.&nbsp;

On Monday, the taxi drivers blocked the road in Cancún, reported AFP adding that the blockade had interrupted routes to the airport. "Application-based car services such as Uber and Cabify are available in many Mexican cities, and generally offer another safe alternative to taxis. Official complaints against Uber and other drivers do occur," the statement said adding, "past disputes between these services and local taxi unions have occasionally turned violent, resulting in injuries to US citizens in some instances."&nbsp;

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Cancun mayor Ana Patricia Peralta while taking to social media said that she would not allow the "destination's image and personal security to be violated by a few." "Let's put confrontations aside and take care of our people, the people of Cancun and our visitors who place their trust in us," she said.

(With inputs from agencies)

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In the wake of the recent disputes between Uber and other taxi drivers in Mexico's top beachside resorts, the United States on Monday issued a security alert to its citizens travelling to the country.

In the wake of the recent disputes between Uber and other taxi drivers in Mexico's top beachside resorts, the United States on Monday issued a security alert to its citizens travelling to the country. The face-off between Uber and other taxi drivers comes after 11 January court ruling which stated that Uber drivers could work legally in the Mexican state of Quintana Roo without a concession required by transport companies. 12,000 member Taxi driver unions have accused Uber of unfair competition. Also Read | Who is Sara Al Sayed, Saudi Arabia's new deputy foreign minister for public diplomacy? Since the court ruling, many reports of violence have emerged in the Mexican state. As per AFP, some Uber drivers have alleged that state taxi drivers have not just intercepted them but have also forced passengers to get out of their vehicles. Others Uber drivers have even alleged they were beaten or had taxi drivers throwing stones at their cars. Worst of all, some also claimed of receiving death threats. "In light of widely publicized security incidents in popular tourist destinations, please remember that all destinations have some level of risk. Violent crime – such as homicide, kidnapping, carjacking, and robbery – is widespread and common in Mexico," the US Embassy in Mexico said in a statement while cautioning its citizens travelling to Mexico. Also Read | US confronts China with evidence of state-owned companies aiding Russia in Ukraine war The Mexican state of Quintana Roo is home to Cancún city and a number of other islands and towns. Cancun is a popular tourist destination in Mexico and annually caters to over 30 million tourists. On Monday, the taxi drivers blocked the road in Cancún, reported AFP adding that the blockade had interrupted routes to the airport. "Application-based car services such as Uber and Cabify are available in many Mexican cities, and generally offer another safe alternative to taxis. Official complaints against Uber and other drivers do occur," the statement said adding, "past disputes between these services and local taxi unions have occasionally turned violent, resulting in injuries to US citizens in some instances." Watch | South Africa defends planned military drills with Russia and China Cancun mayor Ana Patricia Peralta while taking to social media said that she would not allow the "destination's image and personal security to be violated by a few." "Let's put confrontations aside and take care of our people, the people of Cancun and our visitors who place their trust in us," she said. (With inputs from agencies) WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Uber vs. Taxi Conflict: US issues security alert to citizens after protests in Mexico

Uber Technologies Inc. has suffered another data breach, with hackers sharing information of over 77,000 employees.

The news was confirmed by Teqtivity, an IT asset-managing firm, which manages and tracks information from phones and laptops.

<a href="https://www.wionews.com/world/australia-fines-uber-14-million-for-misleading-on-fares-and-cancellation-fees-540914">Also read |&nbsp;Australian court fines Uber $14 million for misleading estimated fares and cancellation fees threat</a>

The data leak includes device information such as serial numbers and the user's full information such as full name, email address and location, my broadband reported.&nbsp;

Carissa Simons, Uber spokesperson said, "We believe these files are related to an incident at a third-party vendor and are unrelated to our security incident in September."&nbsp;

Watch |&nbsp;Gravitas: Uber fined for overstating fare estimates on rides

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According to a report by Bleeping Computer, the email addresses and other source code associated with mobile used by Uber and Uber eats has been hacked.&nbsp;

Simons added that as per Uber's initial review the code is not owned by the company.

<a href="https://www.wionews.com/world/uber-eats-will-pay-10-million-for-listing-chicago-restaurants-without-permission-540538">Also read |&nbsp;Uber Eats will pay $10 million for listing Chicago restaurants without permission</a>

Teqtivity in its statement said that it does not collect any sensitive information like bank details or government information. It added that the hacker could get through its AWS backup server that stores the company's code and data files related to customers.&nbsp;

This is the latest breach to affect Uber. It stated that September's breach was linked to Lapsus$, an extortion gang which involved a contractor's information. In October, the company's former security chief was found guilty of hiding a massive data breach from the regulators.&nbsp;

(With inputs from agencies)

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Uber Technologies Inc. has suffered another data breach, with hackers sharing information of over 77,000 employees. The news was confirmed by Teqtivity, an IT asset-managing firm, which manages and tracks information from phones and laptops.

Uber Technologies Inc. has suffered another data breach, with hackers sharing information of over 77,000 employees. The news was confirmed by Teqtivity, an IT asset-managing firm, which manages and tracks information from phones and laptops. Also read | Australian court fines Uber $14 million for misleading estimated fares and cancellation fees threat The data leak includes device information such as serial numbers and the user's full information such as full name, email address and location, my broadband reported. Carissa Simons, Uber spokesperson said, "We believe these files are related to an incident at a third-party vendor and are unrelated to our security incident in September." Watch | Gravitas: Uber fined for overstating fare estimates on rides According to a report by Bleeping Computer, the email addresses and other source code associated with mobile used by Uber and Uber eats has been hacked. Simons added that as per Uber's initial review the code is not owned by the company. Also read | Uber Eats will pay $10 million for listing Chicago restaurants without permission Teqtivity in its statement said that it does not collect any sensitive information like bank details or government information. It added that the hacker could get through its AWS backup server that stores the company's code and data files related to customers. This is the latest breach to affect Uber. It stated that September's breach was linked to Lapsus$, an extortion gang which involved a contractor's information. In October, the company's former security chief was found guilty of hiding a massive data breach from the regulators. (With inputs from agencies) WATCH WION LIVE HERE

Another data breach at Uber, details of 77,000 employees exposed: Report

An Australian court has fined Uber $14 million for threatening cancellation fees it never charged and overstating fare estimates on some rides. The ride-sharing giant will now have to implement a compliance program. Molly Gambhir tells you more.

Gravitas: Uber fined for overstating fare estimates on rides

An Australian court fined Uber Technologies Inc A$21 million ($14 million) on Wednesday for threatening cancellation fees it never charged and overstating fare estimates on some rides.&nbsp;The penalty was less than a regulator wanted.&nbsp;The Australian arm of the US&nbsp;ride-sharing app broke consumer law by misleading customers with warnings they would be charged for cancelling some rides from 2017 to 2021 and by using an inaccurate software algorithm to estimate fares for a taxi service it offered until August 2020, the Federal Court ruled. 
 
Uber said in a post on its website that it apologised to Australians "for the mistakes we made, and we have since proactively made changes to our platform based on the concerns raised with us".

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Judge Michael Hugh O'Bryan said in a written ruling that by supplying inaccurate information on its smartphone app, Uber "would be expected to lead a proportion of consumers to alter their decision and not proceed with the cancellation and perhaps deter future cancellations", while distorting demand for its service. 
 
The Australian Competition and Consumer Commission (ACCC), which brought the case against Uber, and the tech firm had already agreed on a fine of A$26 million, but O'Bryan told the court the evidence provided by both sides was "grossly inadequate", leaving him to speculate on the harm to consumers.

Also read |&nbsp;<a href="https://www.wionews.com/business-economy/global-airline-industry-to-report-billions-in-losses-this-year-may-return-to-profit-in-2023-iata-540639">Global airline industry to report billions in losses this year; may return to profit in 2023: IATA</a>

The evidence supplied suggested less than 0.5 per cent of Uber customers had gone ahead with a trip due to concern about cancellation fees. The UberTaxi algorithm overshot the fare estimate 89 per cent of the time, but less than 1 per cent&nbsp;of total Uber rides used that service, the judge said.

ACCC Chair Gina Cass-Gottlieb said in a statement that the fine "clearly signals to businesses that misleading consumers about the cost of a product or service is a serious matter which can attract substantial penalties".

The judge had made clear that the lower penalty "should not be understood as any reduction in the court's resolve to impose penalties appropriate to ... deterring contraventions of the Australian Consumer Law", Cass-Gottlieb added.

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An Australian court fined Uber Technologies Inc A$21 million ($14 million) on Wednesday for threatening cancellation fees it never charged and overstating fare estimates on some rides.

An Australian court fined Uber Technologies Inc A$21 million ($14 million) on Wednesday for threatening cancellation fees it never charged and overstating fare estimates on some rides. The penalty was less than a regulator wanted. The Australian arm of the US ride-sharing app broke consumer law by misleading customers with warnings they would be charged for cancelling some rides from 2017 to 2021 and by using an inaccurate software algorithm to estimate fares for a taxi service it offered until August 2020, the Federal Court ruled. Uber said in a post on its website that it apologised to Australians "for the mistakes we made, and we have since proactively made changes to our platform based on the concerns raised with us". Also read | PepsiCo to lay off hundreds of employees from its headquarters: Report Judge Michael Hugh O'Bryan said in a written ruling that by supplying inaccurate information on its smartphone app, Uber "would be expected to lead a proportion of consumers to alter their decision and not proceed with the cancellation and perhaps deter future cancellations", while distorting demand for its service. The Australian Competition and Consumer Commission (ACCC), which brought the case against Uber, and the tech firm had already agreed on a fine of A$26 million, but O'Bryan told the court the evidence provided by both sides was "grossly inadequate", leaving him to speculate on the harm to consumers. Also read | Global airline industry to report billions in losses this year; may return to profit in 2023: IATA The evidence supplied suggested less than 0.5 per cent of Uber customers had gone ahead with a trip due to concern about cancellation fees. The UberTaxi algorithm overshot the fare estimate 89 per cent of the time, but less than 1 per cent of total Uber rides used that service, the judge said. ACCC Chair Gina Cass-Gottlieb said in a statement that the fine "clearly signals to businesses that misleading consumers about the cost of a product or service is a serious matter which can attract substantial penalties". The judge had made clear that the lower penalty "should not be understood as any reduction in the court's resolve to impose penalties appropriate to ... deterring contraventions of the Australian Consumer Law", Cass-Gottlieb added. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Australian court fines Uber $14 million for misleading estimated fares and cancellation fees threat

Months after Uber cut its losses and jumped the ship, China's Alibaba Holding Ltd is also planning to sell its three per cent stake in&nbsp;Indian food delivery aggregator Zomato, according to multiple reports.&nbsp;The Chinese company will be selling its stake through a block deal expected to take place on Wednesday. Morgan Stanley will be the broker with Alibaba's shares being offered at a five to six per cent discount.&nbsp;

Through the deal, the Chinese tech giant is anticipating to mop up around $200 million.&nbsp;

In&nbsp;August,&nbsp;Uber, the US-based cab-hailing platform exited Zomato by selling its 7.8 per cent stake via a similar block deal.&nbsp;According to term sheets, the deal stood at around&nbsp;$392 million with shares sold at&nbsp;50.44 rupees apiece.&nbsp;

<a href="https://www.wionews.com/india-news/uber-to-sell-its-78-per-cent-stake-in-zomato-sources-502955">Read more:&nbsp;Uber to sell its 7.8 per cent stake in Zomato</a>

What happened with Zomato?

Zomato issued its Initial Public Offering (IPO) last year when its valuation stood at $13.3 billion. Notably, the company's valuation was only $3.5 billion, a year prior to the IPO&nbsp;and that too after acquiring Uber Eats and its India services.

When the IPO was released, it was 35 times oversubscribed, suggesting that the company had played the right hand.

At the time, the company was listed with an issue price of Rs 76, per stock. Subsequently, the stock price rose to an all-time high of Rs 169.10 in November.

<a href="https://www.wionews.com/videos/zomato-confirms-plans-to-lay-off-3-staff-nationwide-535700">WATCH |&nbsp;Zomato confirms plans to lay off 3% staff nationwide</a>

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However, that was the last time the company's stock touched such heights.&nbsp;Since then, the Bengaluru-based company has failed to recreate the same magic as it fails to chart a road towards profitability.&nbsp;

The global economic downturn has added to Zomato's woes. The company confirmed earlier this month that it will be firing at least three per cent of its workforce&nbsp;across the country based on regular performance.&nbsp;

“There has been a regular performance based churn of under three per cent of our workforce, there's nothing more to it,” said the Zomato spokesperson.

Zomato sustained a net loss of $2.5 billion in the quarter ending September when compared to the previous fiscal year’s loss of $4.3 billion during the same period.&nbsp;

(With inputs from agencies)

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Months after Uber cut its losses and jumped the ship, China's Alibaba Holding Ltd is also planning to sell its three per cent stake in Indian food delivery aggregator Zomato, according to multiple reports.

Months after Uber cut its losses and jumped the ship, China's Alibaba Holding Ltd is also planning to sell its three per cent stake in Indian food delivery aggregator Zomato, according to multiple reports. The Chinese company will be selling its stake through a block deal expected to take place on Wednesday. Morgan Stanley will be the broker with Alibaba's shares being offered at a five to six per cent discount. Through the deal, the Chinese tech giant is anticipating to mop up around $200 million. In August, Uber, the US-based cab-hailing platform exited Zomato by selling its 7.8 per cent stake via a similar block deal. According to term sheets, the deal stood at around $392 million with shares sold at 50.44 rupees apiece. Read more: Uber to sell its 7.8 per cent stake in Zomato What happened with Zomato? Zomato issued its Initial Public Offering (IPO) last year when its valuation stood at $13.3 billion. Notably, the company's valuation was only $3.5 billion, a year prior to the IPO and that too after acquiring Uber Eats and its India services. When the IPO was released, it was 35 times oversubscribed, suggesting that the company had played the right hand. At the time, the company was listed with an issue price of Rs 76, per stock. Subsequently, the stock price rose to an all-time high of Rs 169.10 in November. WATCH | Zomato confirms plans to lay off 3% staff nationwide × However, that was the last time the company's stock touched such heights. Since then, the Bengaluru-based company has failed to recreate the same magic as it fails to chart a road towards profitability. The global economic downturn has added to Zomato's woes. The company confirmed earlier this month that it will be firing at least three per cent of its workforce across the country based on regular performance. “There has been a regular performance based churn of under three per cent of our workforce, there's nothing more to it,” said the Zomato spokesperson. Zomato sustained a net loss of $2.5 billion in the quarter ending September when compared to the previous fiscal year’s loss of $4.3 billion during the same period. (With inputs from agencies) WATCH WION LIVE HERE:

After Uber, Alibaba to sell three per cent stake in Zomato at discount: Reports

The Biden administration has proposed to bring in a new law to classify thousands of independent workers as regular employees—a move that could shake up the ride-hailing and delivery companies, and other app-based industries who primarily rely on gig workers.

Under the proposed law, which has been unveiled by the U.S. Labour Department on Tuesday, these gig workers would be treated on par with the regular employees and would be entitled to a minimum wage, overtime, and contributions to unemployment insurance.

The new proposal would work on the principle of “totality-of-the circumstances” to analyse all of the factors involved in the working relationship equally.

The department has said that it will use multi-factor economic realities, such as job permanency, how much control workers have over their work and how many opportunities they are given to increase their earnings, among other factors, for determining the working relationship between the employer and gig workers.

“While independent contractors have an important role in our economy, we have seen in many cases that employers misclassify their employees as independent contractors,” labour secretary Martin J. Walsh said in a statement.

“Misclassification deprives workers of their federal labour protections, including their right to be paid their full, legally earned wages.”

Recently, Uber and Lyft have claimed in federal filings that they would be forced to alter their business models if they start treating their drivers as employees, according to the New York Times.

They stated that labour costs would rise 20 to 30 per cent if gig workers are given all the benefits of a regular employee.

The proposal will be published in the Federal Register on October 13 and the public will have 45 days to comment on it.

(With inputs from agencies)

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The Biden administration has proposed to bring in a new law to classify thousands of independent workers as regular employees—a move that could shake up the ride-hailing and delivery companies, and other app-based industries who primarily rely on gig workers.

The Biden administration has proposed to bring in a new law to classify thousands of independent workers as regular employees—a move that could shake up the ride-hailing and delivery companies, and other app-based industries who primarily rely on gig workers. Under the proposed law, which has been unveiled by the U.S. Labour Department on Tuesday, these gig workers would be treated on par with the regular employees and would be entitled to a minimum wage, overtime, and contributions to unemployment insurance. The new proposal would work on the principle of “totality-of-the circumstances” to analyse all of the factors involved in the working relationship equally. The department has said that it will use multi-factor economic realities, such as job permanency, how much control workers have over their work and how many opportunities they are given to increase their earnings, among other factors, for determining the working relationship between the employer and gig workers. “While independent contractors have an important role in our economy, we have seen in many cases that employers misclassify their employees as independent contractors,” labour secretary Martin J. Walsh said in a statement. “Misclassification deprives workers of their federal labour protections, including their right to be paid their full, legally earned wages.” Recently, Uber and Lyft have claimed in federal filings that they would be forced to alter their business models if they start treating their drivers as employees, according to the New York Times. They stated that labour costs would rise 20 to 30 per cent if gig workers are given all the benefits of a regular employee. The proposal will be published in the Federal Register on October 13 and the public will have 45 days to comment on it. (With inputs from agencies) WATCH WION LIVE HERE:

Biden govt brings in law to classify gig workers as regular employees

After waking up with a hangover and a $39,317 Uber bill on his debit card, a British ride-share consumer was shocked.

After working a shift at the Buxton Inn in Manchester, England, Oliver Kaplan, 22, booked a cab&nbsp;via the Uber app.&nbsp;He&nbsp;had arranged to meet friends at the nearby pub, Witchwood, which is only four miles away.

“I ordered an&nbsp;Uber&nbsp;like I do most nights on the way home from work and everything seemed normal,” Kaplan told South West News Service about his horrifying bill.

He claims the price quoted on the app was between $11 and $12, which he happily accepted.

“The driver arrived, I got in the&nbsp;Uber&nbsp;and he took me exactly where I was meant to be going,” Kaplan said. “It was a 15-minute journey — tops.”

Also read |&nbsp;<a href="https://www.wionews.com/india-news/bengaluru-uber-ola-rapido-autos-to-discontinue-in-three-days-labelled-illegal-523423">Bengaluru: Uber, Ola, Rapido autos to discontinue in three days, labelled illegal</a>

Kaplan thought no more of the experience until he received a message from&nbsp;Uber&nbsp;the following morning.

“When I woke up hungover the next morning, the last thing I expected was a charge of over £35,000 [$39,317]!” he exclaimed.

"I ordered an&nbsp;Uber&nbsp;like I do most nights on the way home from work and everything seemed normal," Kaplan told Southwest News Service about his horrifying bill.

The chef quickly contacted&nbsp;Uber’s <a href="https://www.wionews.com/india-news/in-self-reliant-defence-production-china-outranks-india-by-massive-margin-says-study-523753">customer service</a> department through the app to find out about the eye-watering charge, reported the New York Post.

The total amount billed to Kaplan’s card was a whopping £35,427 — or $39,317. Customer service said the amount couldn’t be taken "because I had insufficient funds,” Kaplan claimed, saying&nbsp;Uber&nbsp;employees were initially stumped by the sum.

<a href="https://www.wionews.com/world/scientists-finally-reach-amazons-tallest-tree-ever-after-a-treacherous-expedition-523544">Engineers</a> from the company eventually came to the conclusion that Australia had somehow become the drop-off site.

It's unknown what went wrong, but it's conceivable that a mistake led to the location changing from Witchwood, the Manchester bar, to Witchwood, an Australian park in Victoria.

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After waking up with a hangover and a $39,317 Uber bill on his debit card, a British ride-share consumer was shocked. After working a shift at the Buxton Inn in Manchester, England, Oliver Kaplan, 22, booked a cab via the Uber app.

After waking up with a hangover and a $39,317 Uber bill on his debit card, a British ride-share consumer was shocked. After working a shift at the Buxton Inn in Manchester, England, Oliver Kaplan, 22, booked a cab via the Uber app. He had arranged to meet friends at the nearby pub, Witchwood, which is only four miles away. “I ordered an Uber like I do most nights on the way home from work and everything seemed normal,” Kaplan told South West News Service about his horrifying bill. He claims the price quoted on the app was between $11 and $12, which he happily accepted. “The driver arrived, I got in the Uber and he took me exactly where I was meant to be going,” Kaplan said. “It was a 15-minute journey — tops.” Also read | Bengaluru: Uber, Ola, Rapido autos to discontinue in three days, labelled illegal Kaplan thought no more of the experience until he received a message from Uber the following morning. “When I woke up hungover the next morning, the last thing I expected was a charge of over £35,000 [$39,317]!” he exclaimed. "I ordered an Uber like I do most nights on the way home from work and everything seemed normal," Kaplan told Southwest News Service about his horrifying bill. The chef quickly contacted Uber’s customer service department through the app to find out about the eye-watering charge, reported the New York Post. The total amount billed to Kaplan’s card was a whopping £35,427 — or $39,317. Customer service said the amount couldn’t be taken "because I had insufficient funds,” Kaplan claimed, saying Uber employees were initially stumped by the sum. Engineers from the company eventually came to the conclusion that Australia had somehow become the drop-off site. It's unknown what went wrong, but it's conceivable that a mistake led to the location changing from Witchwood, the Manchester bar, to Witchwood, an Australian park in Victoria. WATCH WION LIVE HERE:

Uber goof-up: UK man charged $39,000 for 15-minute cab ride after drunken night

We all have booked Uber at some point in life but this boy might not book Uber in his whole life ever again. For him, a five mile charge was way beyond his expectations. Oliver Kaplan, a 22-year-old, had booked an Uber ride to a nearby pub but to his surprise a 15-minute journey costed him a bombshell. Watch this video to know how much was he charged.

Uber blunder: UK man charged £35 million for 15 minute trip

On Thursday, the Karnataka transport department sent letters to ANI Technologies, the parent company of the ride-hailing service Ola, Uber, and Rapido, describing their vehicles as "illegal" and requesting that they cease operations within three days.&nbsp;

It has been requested that the car aggregators produce a report. This comes after several commuters complained to the transport department about how Ola and Uber charge at least Rs 100 even for trips under two kilometres. Bengaluru's minimum auto charge is set at Rs 30 for the first 2 km and Rs 15 for each additional kilometre.

In accordance with the department's warning, ride-hailing businesses must cease their vehicle services as soon as possible and refrain from charging taxi customers more than the set rate. In addition, the agency threatened legal punishment if they disregarded the directive.&nbsp;

The Karnataka On-Demand Transportation Technology Aggregators Rules, 2016, according to Transport Commissioner THM Kumar, have given these businesses licences to operate exclusively taxis. Automobiles are exempt from the regulations.&nbsp;

Also Read:&nbsp;<a href="https://www.wionews.com/world/explained-thailands-bloody-mix-of-drugs-guns-and-violence-523403">Explained: Thailand's bloody mix of drugs, guns and violence</a>

“Taxis means a motor cab having a seating capacity not exceeding six passengers, excluding the driver,” he added, according to a TOI report.

To compete with ride-hailing services like Ola and Uber, the Autorickshaw Drivers Union (ARDU) and the Beckn Foundation, which is funded by Nandan Nilekani, aim to release the Namma Yatri app on November 1.

(with inputs from agencies) 
&nbsp;

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On Thursday, the Karnataka transport department sent letters to ANI Technologies, the parent company of the ride-hailing service Ola, Uber, and Rapido, describing their vehicles as "illegal" and requesting that they cease operations within three days.

On Thursday, the Karnataka transport department sent letters to ANI Technologies, the parent company of the ride-hailing service Ola, Uber, and Rapido, describing their vehicles as "illegal" and requesting that they cease operations within three days. It has been requested that the car aggregators produce a report. This comes after several commuters complained to the transport department about how Ola and Uber charge at least Rs 100 even for trips under two kilometres. Bengaluru's minimum auto charge is set at Rs 30 for the first 2 km and Rs 15 for each additional kilometre. In accordance with the department's warning, ride-hailing businesses must cease their vehicle services as soon as possible and refrain from charging taxi customers more than the set rate. In addition, the agency threatened legal punishment if they disregarded the directive. The Karnataka On-Demand Transportation Technology Aggregators Rules, 2016, according to Transport Commissioner THM Kumar, have given these businesses licences to operate exclusively taxis. Automobiles are exempt from the regulations. Also Read: Explained: Thailand's bloody mix of drugs, guns and violence “Taxis means a motor cab having a seating capacity not exceeding six passengers, excluding the driver,” he added, according to a TOI report. To compete with ride-hailing services like Ola and Uber, the Autorickshaw Drivers Union (ARDU) and the Beckn Foundation, which is funded by Nandan Nilekani, aim to release the Namma Yatri app on November 1. (with inputs from agencies)

Bengaluru: Uber, Ola, Rapido autos to discontinue in three days, labelled illegal

A college student who had allegedly been sexually assaulted while disembarking from an Uber auto (tuk-tuk) has expressed dissatisfaction with the ride aggregator and the company's response. The incident took place in the southern Indian city of Chennai when the woman and her friend reached their destination via an Uber ride. According to the complainant, she was stepping out of the auto and her friend was making the payment, when the driver allegedly sexually assaulted her and then managed to escape.

Based on the complaint, the police are said to have arrested the driver and seized his vehicle and also got the related CCTV footage.

However, the complainant is extremely unhappy with the way the ride aggregator has dealt with the situation and their lack of proper responses.

Speaking to WION, the student (complainant) said that an Uber representative had initially assured legal action and also mentioned that the driver would possibly be suspended. However, despite requests, Uber did not share the mobile number of the said driver. She had been seeking the mobile number of the said driver, as she wanted to share the same with the Police.

As Uber customers only have access to the common landline number that drivers use to call customers and vice versa, she doesn't have the&nbsp;auto driver’s personal contact number, which was one of the prime information that was missing on the FIR. This ultimately is said to have led to a delay in Police’s investigation. She said that Uber representatives who called her later, were clueless about the particular incident, as there was no communication within their team.

Note: (Name of the complainant and any information that can be used to identify her have been withheld on her specific request)

A college student who had allegedly been sexually assaulted while disembarking from an Uber auto (tuk-tuk) has expressed dissatisfaction with the ride aggregator and the company's response.

A college student who had allegedly been sexually assaulted while disembarking from an Uber auto (tuk-tuk) has expressed dissatisfaction with the ride aggregator and the company's response. The incident took place in the southern Indian city of Chennai when the woman and her friend reached their destination via an Uber ride. According to the complainant, she was stepping out of the auto and her friend was making the payment, when the driver allegedly sexually assaulted her and then managed to escape. Based on the complaint, the police are said to have arrested the driver and seized his vehicle and also got the related CCTV footage. However, the complainant is extremely unhappy with the way the ride aggregator has dealt with the situation and their lack of proper responses. Speaking to WION, the student (complainant) said that an Uber representative had initially assured legal action and also mentioned that the driver would possibly be suspended. However, despite requests, Uber did not share the mobile number of the said driver. She had been seeking the mobile number of the said driver, as she wanted to share the same with the Police. As Uber customers only have access to the common landline number that drivers use to call customers and vice versa, she doesn't have the auto driver’s personal contact number, which was one of the prime information that was missing on the FIR. This ultimately is said to have led to a delay in Police’s investigation. She said that Uber representatives who called her later, were clueless about the particular incident, as there was no communication within their team. Note: (Name of the complainant and any information that can be used to identify her have been withheld on her specific request)

India: 'Dissatisfied with company's response', says woman who faced sexual assault on Uber ride

Uber's computer network was breached by a cyber attacker last Thursday. Uber laid the blame on hacking group Lapsus$, which used similar attacks to breach Microsoft, Cisco, Samsung, Nvidia, Okta and others in 2022.

World Business Watch: Uber blames hacking group Lapsus$ for cyber attack

Uber's computer network was breached on Thursday, leading the ride-hailing giant to take several internal communications and engineering systems offline as it investigated the hack.

World Business Watch: Uber investigating breach of its computer systems

Uber launched an investigation on Thursday (September 15) to probe a cybersecurity incident. This comes after reports emerged that its network was breached. The incident led Uber Technologies Inc to shut down several internal communications and engineering systems.&nbsp;

Reports mentioned that a hacker gained access to some vulnerability reports of Uber. The cyberattack incident was highlighted when screenshots of the company's internal systems, email dashboard, and Slack server were shared.&nbsp;

ALSO READ |&nbsp;<a href="https://www.wionews.com/business-economy/us-apple-becomes-markets-most-shorted-stock-unseats-tesla-to-hold-the-title-516690">US: Apple becomes market's most-shorted stock, unseats Tesla to hold the title</a>&nbsp;

Uber Communications tweeted, "We are currently responding to a cybersecurity incident. We are in touch with law enforcement and will post additional updates here as they become available."&nbsp;

Citing&nbsp;an Uber spokesperson, New York Times reported on Thursday that a hacker compromised an employee's workplace messaging app Slack. The report further informed that the apparent hacker sent&nbsp;a message to Uber employees announcing that the company had suffered a data breach.&nbsp;

WATCH |&nbsp;The Royal Family: Here's how you can follow the updated social media handles&nbsp;

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The report also added that the hacker was later able to gain access to other internal systems, posting an explicit photo on an internal information page for employees.&nbsp;

Citing two employees, Times reported that the Slack system was taken offline on Thursday afternoon after employees received the message from the hacker.&nbsp;

The hacker's message read: "I announce I am a hacker and Uber has suffered a data breach." The hacker further listed several internal databases that were claimed to be compromised.&nbsp;

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Uber launched an investigation on Thursday (September 15) to probe a cybersecurity incident. This comes after reports emerged that its network was breached. The incident led Uber Technologies Inc to shut down several internal communications and engineering systems.

Uber launched an investigation on Thursday (September 15) to probe a cybersecurity incident. This comes after reports emerged that its network was breached. The incident led Uber Technologies Inc to shut down several internal communications and engineering systems. Reports mentioned that a hacker gained access to some vulnerability reports of Uber. The cyberattack incident was highlighted when screenshots of the company's internal systems, email dashboard, and Slack server were shared. ALSO READ | US: Apple becomes market's most-shorted stock, unseats Tesla to hold the title Uber Communications tweeted, "We are currently responding to a cybersecurity incident. We are in touch with law enforcement and will post additional updates here as they become available." Citing an Uber spokesperson, New York Times reported on Thursday that a hacker compromised an employee's workplace messaging app Slack. The report further informed that the apparent hacker sent a message to Uber employees announcing that the company had suffered a data breach. WATCH | The Royal Family: Here's how you can follow the updated social media handles × ALSO READ | US judge appoints 'special master' in Donald Trump document case The report also added that the hacker was later able to gain access to other internal systems, posting an explicit photo on an internal information page for employees. Citing two employees, Times reported that the Slack system was taken offline on Thursday afternoon after employees received the message from the hacker. The hacker's message read: "I announce I am a hacker and Uber has suffered a data breach." The hacker further listed several internal databases that were claimed to be compromised. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Hacker announces Uber data breach, shares screenshots of internal systems, dashboard & server

Ride-hailing platform Uber earlier this week paid the state of New Jersey $100 million in back taxes after the company tried being excessively clever to avoid paying benefits to its drivers.

Ride-hailing platform Uber earlier this week paid the state of New Jersey $100 million in back taxes after the company tried being excessively clever to avoid paying benefits to its drivers. Reportedly, New Jersey's Department of Labor and Workforce Development had fined Uber and its subsidiary Raiser in 2019 over unpaid unemployment taxes for the period 2014-2018. Uber classified its drivers as self-employed which allowed the company to withhold the required benefits. Consequently, the drivers lost the right to overtime pay, paid sick leave, family leave, overtime pay, and most importantly minimum wage. Remarking that the state will not tolerate such companies, New Jersey's acting attorney general, Matt Platkin said, "We will not tolerate companies that misclassify their workers, thereby denying employees vital benefits and dodging their obligation to contribute to programs that benefit the workforce." Read more: The Uber Files: Leaked docs reveal how Uber won access to world leaders, deceived investigators Meanwhile, Uber in a statement did not directly admit that it had avoided paying benefits to its employees. "Drivers in New Jersey and nationally are independent contractors who work when and where they want - an overwhelming amount do this kind of work because they value flexibility. We look forward to working with policymakers to deliver benefits while preserving the flexibility drivers want." read the statement from the company. Despite being a worldwide, major cab-riding platform, Uber has a rather shady record of violating the regulations and later coughing up fines to brush the matters under carpet. Read More: 550 women sue Uber over allegations including kidnapping and sexual assault As reported by WION, in July, the San Franciso based company admitted that it knew about the data breach in 2016 that affected 57 million customers and yet failed to inform the public or US Federal Trade Commission (FTC). Uber only confessed to the US prosecutors about its crime so as to avoid being levelled with criminal charges. It is pertinent to note that Uber had to pay a fine of $148 million to all 50 US states in September 2018, to settle the claims. However, given that Uber's market value amounted to $76 billion in the same year, many experts called it a mockery of the system. Read more: Uber admits concealing the 2016 data leak of 57 million passengers; avoids criminal charges (With inputs from agencies) WATCH WION LIVE HERE:

Uber pays $100 million in back taxes to New Jersey for misclassifying drivers

In what most would call an end to hour-long waiting lines, Uber Japan has announced plan for online delivery during matches. You can now order snacks while sitting on your seats.

End to hour-long waiting lines: Uber Japan announces plan for online delivery during matches

Cab-hailing platform Uber Technologies is expected to sell its 7.8 per cent stake in Indian food delivery aggregator Zomato, as per credible sources. Reportedly, the US company is likely to exit the market after its net loss stood at $2.6 billion, according to&nbsp;reports released by the company on Tuesday.&nbsp;

According to term sheets accessed by experts, the Zomato block deal offer is expected to be around $373 million with 612 million shares on offer. The news could be announced in the early hours of Wednesday.&nbsp;

The shares will be reportedly priced in the range of 48-54 rupees (less than a dollar), which will be a significant depreciation on the current market price. According to BSE data, the shares of Zomato closed at Rs 55.60 on Tuesday.&nbsp;

Uber selling its shares comes at a time when Zomato reported to have reduced its consolidated net loss in the June quarter and its shares rose 20 per cent in the market.&nbsp;

Read More:<a href="https://www.wionews.com/india-news/specially-abled-delivery-executive-rides-wheelchair-to-deliver-food-wins-internet-for-the-day-501472">&nbsp;Specially abled delivery executive rides wheelchair to deliver food; wins internet for the day</a>

What happened with Zomato?

As reported extensively by WION, at the time of issuing the Initial Public Offering (IPO) last year, Zomato was pegged at $13.3 billion in valuation. It is important to note that the food major’s valuation was a mere $3.5 billion, a year prior, and that too after acquiring Uber Eats and its India services.

The significant increase in the valuation had surprised many and aspersions were cast on whether Zomato had overplayed its hand.

When the IPO was released, it was 35 times oversubscribed, suggesting that the company knew what it was doing. At the time, the company was listed with an issue price of Rs 76, per stock.&nbsp;

The stock price rose to an all-time high of Rs 169.10 in November and that was the last time the company's stock touched such heights.&nbsp;&nbsp;

Read More:&nbsp;<a href="https://www.wionews.com/trending/unlikely-camaraderie-swiggy-delivery-boy-helping-zomato-counterpart-leaves-netizens-impressed-498939">Unlikely camaraderie: Swiggy delivery boy helping Zomato counterpart leaves netizens impressed</a>

At the year-end, the stock price stood at Rs 137.45 and since then, it has continued to tumble. From the highs of $13.3 billion in valuation, the current market valuation of Zomato stands at $5.3 billion, as of May, which is a decline of over 60 per cent.&nbsp;

According to Uber, it has reported a positive quarterly cash flow for the first time in its history. However, Zomato is continuing to bleed it and thus the decision to exit the market. If it happens, it could be a significant blow to Zomato while Uber is expected to make anywhere between two to three times its original deal.&nbsp;

(With inputs from agencies)

WATCH WION LIVE HERE:&nbsp;

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Cab-hailing platform Uber Technologies is expected to sell its 7.8 per cent stake in Indian food delivery aggregator Zomato, as per credible sources. Reportedly, the US company is likely to exit the market after its net loss stood at $2.

Cab-hailing platform Uber Technologies is expected to sell its 7.8 per cent stake in Indian food delivery aggregator Zomato, as per credible sources. Reportedly, the US company is likely to exit the market after its net loss stood at $2.6 billion, according to reports released by the company on Tuesday. According to term sheets accessed by experts, the Zomato block deal offer is expected to be around $373 million with 612 million shares on offer. The news could be announced in the early hours of Wednesday. The shares will be reportedly priced in the range of 48-54 rupees (less than a dollar), which will be a significant depreciation on the current market price. According to BSE data, the shares of Zomato closed at Rs 55.60 on Tuesday. Uber selling its shares comes at a time when Zomato reported to have reduced its consolidated net loss in the June quarter and its shares rose 20 per cent in the market. Read More: Specially abled delivery executive rides wheelchair to deliver food; wins internet for the day What happened with Zomato? As reported extensively by WION, at the time of issuing the Initial Public Offering (IPO) last year, Zomato was pegged at $13.3 billion in valuation. It is important to note that the food major’s valuation was a mere $3.5 billion, a year prior, and that too after acquiring Uber Eats and its India services. The significant increase in the valuation had surprised many and aspersions were cast on whether Zomato had overplayed its hand. When the IPO was released, it was 35 times oversubscribed, suggesting that the company knew what it was doing. At the time, the company was listed with an issue price of Rs 76, per stock. The stock price rose to an all-time high of Rs 169.10 in November and that was the last time the company's stock touched such heights. Read More: Unlikely camaraderie: Swiggy delivery boy helping Zomato counterpart leaves netizens impressed At the year-end, the stock price stood at Rs 137.45 and since then, it has continued to tumble. From the highs of $13.3 billion in valuation, the current market valuation of Zomato stands at $5.3 billion, as of May, which is a decline of over 60 per cent. According to Uber, it has reported a positive quarterly cash flow for the first time in its history. However, Zomato is continuing to bleed it and thus the decision to exit the market. If it happens, it could be a significant blow to Zomato while Uber is expected to make anywhere between two to three times its original deal. (With inputs from agencies) WATCH WION LIVE HERE:

Uber to sell its 7.8 per cent stake in Zomato: Sources

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