UBER Jul 2024 57.500 call
- Reuters
Massachusetts takes Uber, Lyft to trial over status of gig workers
Uber Technologies and Lyft are set to face trial on Monday in a U.S. lawsuit by Massachusetts' attorney general alleging the ride-share companies misclassified their drivers as independent contractors rather than more costly employees. The non-jury trial in Boston comes amid broader legal and political battles in the Democratic-led state and elsewhere nationally over the status of drivers for app-based companies whose rise has fueled the U.S. gig worker economy. Massachusetts Attorney General Andrea Joy Campbell is asking a judge to conclude that drivers for Uber and Lyft are employees under state law and therefore entitled to benefits such as a minimum wage, overtime and earned sick time.
- The Telegraph
Chinese Uber rival revives UK launch plans
Uber’s Chinese rival is laying the groundwork to enter the UK, three years after it was forced to suspend plans to launch in British cities.
- Benzinga
Uber Continues To Enjoy Robust Demand But Legal Bills Take A Toll On Its Bottom Line
On Tuesday, Uber Technologies Inc (NYSE: UBER) posted a mixed first quarter report. Although Uber slightly surpassed revenue estimates, it posted an unexpected loss. First Quarter Highlights For the three months ended on March 31st, revenue grew 15% to $10.13 billion, slightly surpassing LSEG’s estimate of $10.11 billion. Gross bookings amounted to $37.65 billion which is below StreetAccount’s estimate of $37.93 billion. The mobility segment grew 25% YoY as gross bookings amounted to $18.67 bill
