Category: Uncategorized

Does Uber have a rival ?

Founded in 2013 as Taxify and rebranded this year as Bolt, the start-up has racked up 25 million customers and 500,000 drivers in 35 countries across Europe and Africa. It launched in London again in June following a botched attempt to do so without an operator’s license in 2017, and Villig says the firm has seen a lot of traction […]

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Lyft hasn’t paid us minimum wage or overtime, drivers claim in class action suit

The complaint, filed in U.S. District Court in New Jersey, claims the San-Francisco-based ridesharing company failed to pay minimum wage, did not pay overtime and did not reimburse business expenses. Lyft also violated labor laws by intentionally misclassifying its workers to skirt around paying workers minimum wage and overtime, the complaint filed Nov. 21 reads. The […]

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Catastrophically Huge’: New Labor Laws Aimed at Independent Contractors Could Be a Huge Drag on Uber and Lyft Stock

Since July, shares of both Uber and Lyft have been skidding downward: down 37% and 27% respectively from midsummer highs. One of the reasons is regulation, particularly in the form of employment laws. A new measure in California—AB-5—and related bills in New Jersey and New York would put more pressure on the major names in […]

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