Tag: Taxi/Limousine Services
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California Supreme Court agrees to hear Prop. 22 appeal after ruling favoring Uber, Lyft
[ad_1] The California Supreme Court on Wednesday agreed to hear the appeal of a state appeals court decision that let most of a state law on gig-worker classification stand. The March ruling upholding Proposition 22, a law that was passed by 58% of California voters in 2020, was a victory for Uber Technologies Inc. UBER,…
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Could Uber’s stock cruise to $70? Barclays thinks it can keep riding higher in a big way.
[ad_1] Uber Technologies Inc. shares have been on a tear this year, but Barclays analyst Ross Sandler sees ample room for the dominant ride-hailing name to continue cruising. In the face of the 76% move higher in Uber shares UBER, +1.24% so far in 2023, he lifted his price target on Uber’s stock to $57…
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Uber, Lyft drivers would get help with deactivations under NYC bill
[ad_1] New York City is considering a bill that would address a top issue for its tens of thousands of ride-hailing drivers: getting kicked off apps like Uber and Lyft. The bill, sponsored by City Councilman Shekar Krishnan and introduced Thursday, would establish an appeal process for driver deactivations that would involve the city. If…
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Lyft layoffs: Third round to ‘significantly’ slash workforce, new CEO tells workers
[ad_1] Lyft Inc. is laying off a significant part of its workforce, the ride-hailing company’s new chief executive told employees in a Friday email, as he tries to cut costs and keep up with a much bigger rival, Uber Technologies Inc. The Wall Street Journal first reported that the cuts will amount to 30% of…