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In Latest Blow For Uber, EU High Court Rules Company Must Be Regulated As Taxi Service

In another major blow to Uber’s ability to operate profitably within the European Union, the EU’s highest court ruled on Wednesday that the ride-hailing app company is, in fact, a transportation company, and its drivers should be subjected to all pertinent regulations for taxi and livery-cab drivers. The decision opens the US ride-hailing app up […]


Uber Price-Gouges Millennial Passenger $14,000 For 5-Mile Ride

One Millennial in Toronto got the shock of his life last Thursday evening when Uber charged him C$18,518.50 (around US$14,398) for a 5-mile trip from 12 Widmer, ST to 30 The Queensway in Toronto, that should have cost C$12 to C$40. According to Votethehish’s friend, Emily Kennard took to Twitter and said, “My friend was charged 18K for a […]


Who Will Win The Self-Driving Taxi Race?

Authored by Jon Lesage via OilPrice.com, Ride-hailing firms Uber and Lyft have become transportation platforms for automakers and tech giants to someday bring automated, electrified mobility to the mass market. It’s still years in the making, but both companies are gaining significant support during a year when it looked like Uber could be coming to […]


Uber Reports Massive $1.5 Billion 3Q Loss As Two Investors Drop Out Of New Financing Round

Following an embarrassing revelation from about a weak ago that Uber concealed a massive cyberattack – in which hackers stole personal data from 57 million customers for more than a year – and paid the hackers $100,000 to keep quiet (not to mention the plethora of other scandals of late), investors in the private company […]


Unicorn-holed: Softbank Coalition To Buy Uber Shares At A 30% Discount

And the hits keep coming for the unicornest unicorn in all of unicorn-land… Back in the summer, we suggested – for numerous reasons – that Uber's next round of financing may come at a significant discount to its current $69 billion valuation. Overnight, headlines hit that SoftBank was said to have learned of last year's […]


New Uber CEO Waited 2 Months To Disclose Data Breach To Investors, Customers

Earlier this month, newly minted Uber CEO Dara Khosrowshahi made his first high-profile public appearance when he sat down for an interview with the New York Times’s Andrew Ross Sorkin.  Speaking in dulcet tones, Khosrowshahi laid out his vision for making Uber’s workplace culture more inclusive, for building out the product, working with regulators who […]


Uber Admits It Hid Massive Cyberattack For Over A Year, Paid Hackers To Keep Quiet

Just when you thought Uber had hit rock-bottom and was on its way back up… In a somewhat stunning – even for Uber – series of events, Bloomberg reports that the ride-hailing service concealed a massive cyberattack – in which hackers stole personal data from 57 million customers – for more than a year… and […]


Cash-Hemorrhaging Uber Announces Plans To Drop $1 Billion On Driverless Volvos

Earlier this summer we noted Uber’s staggering 2Q cash burn of $600 million which equates to roughly $7 million in net cash outflows every single day.  The staggering, and consistently growing, cash burn figures resulted in several mutual funds announcing they would slash their valuations of the struggling rideshare company by up to 15%.  Of […]


Half Naked Woman Who Stole Uber Driver’s Tips Complains Of Harassment After Video Goes Viral

Content originally published at iBankCoin.com A half-naked woman whose theft of an Uber driver’s tips was caught on video is complaining of online harassment after footage of the brazen incident went viral. Scantily clad 18 year old Gabrielle Canales – a horrible human being, was caught on surveillance video reaching into the Uber driver’s tip jar after […]


Uber Shareholder Drops Lawsuit Against Kalanick, Clearing Way For Softbank Investment

Tuesday’s meeting of the Uber Inc. board – the first following Kalanick’s unilateral decision to appoint former Xerox Corp. Chairwoman and CEO Ursula Burns and former Merrill Lynch Chairman and CEO John Thain – appears to have been a productive one. Reuters is reporting that the board voted to move ahead with two issues, a […]


Look Who Kalanick Just Appointed To The Uber Board Without Consulting Anyone

It looks like Travis Kalanick is preparing for all-out war in the Uber boardroom. The Uber co-founder and former chief executive officer – who retains control over three board seats, including his own – has finally filled his long-vacant seats. And guess whom he picked to fill them? Former Xerox Corp. Chairwoman and CEO Ursula […]


Softbank Agrees To Block Kalanick From Returning As Uber’s CEO

Travis Kalanick’s hopes to someday return as Uber’s CEO have just been dashed. Japanese conglomerate Softbank has struck an agreement with Uber’s shareholders to block Travis Kalanick from ever being reinstated as the leader of the perennially cash-burning ride-hailing company, according to Bloomberg. As the Wall Street Journal reported earlier this month, Softbank is seeking […]


Brits Have Suddenly Stopped Buying Cars

British people have suddenly stopped buying cars and as BI's Jim Edwards notes, it's not clear why. As the following chart from Barclays shows, both new- and used-car sales have collapsed…   While the slump in consumer confidence remains a major factor… But as Edwards notes, a number of other factors are colliding simultaneously to […]


New Uber CEO’s “Welcome Aboard” Gift: Another Federal Investigation

Little more than a day after Dara Khosrowshahi decided to accept the Uber board’s offer to become the embattled ride-share company’s new CEO – after the company’s top two candidates dropped out of the running – he received a welcome-aboard present that was just so…Uber. Namely, a report in the Wall Street Journal claiming that […]


Uber Burned $600 Million In Q2: Key Results

With Uber once again in the media spotlight, following yesterday’s WSJ report that several mutual funds have – for the first time ever – cut their valuation of the world’s most valuable private company by up to 15%, and today’s lengthy Reuters expose questioning just what the company’s true value is, moments ago Uber’s Q2 […]