Tag: Sharing/On-demand Economy Services

‘They’ve been silent’: Many companies are on the sidelines about the new Texas abortion law — will they stay there?

Texas’ new abortion law has touched off a wave of criticism, including from President Joe Biden, scathing dissents from the U.S. Supreme Court’s liberal wing...

DoorDash and Grubhub sued by city of Chicago, which alleges deceptive fees and predatory practices

The city of Chicago filed a wide-ranging lawsuit against DoorDash Inc. and Grubhub Inc. on Friday, accusing the meal-delivery platforms of engaging in deceptive and...

Judge shoots down law that kept Uber and Lyft drivers from being employees

A judge late Friday shot down a law that would have allowed app-based companies to continue treating drivers as contractors instead of employees in California,...

Alibaba stock has taken a hit from China crackdown, but its earnings could be a different story

Alibaba Group Holding Ltd. will be looking to focus attention back onto its business Tuesday following a rough stretch for the broader Chinese internet sector....

Uber showed drivers lower fares than passengers, blames California law it supported

Uber Technologies Inc. acknowledged Friday it had been showing drivers lower fares than what riders actually paid and promised to change the practice, which it...

Uber and Lyft drivers strike, seek passage of PRO Act

Ride-hailing drivers across the country executed a strike Wednesday, calling on the U.S. Senate to pass the PRO Act, a bill that would allow them...

Weekend reads: What exactly is going on with big tech stocks?

After many years during which the most familiar technology companies pulled the entire stock market up with them, 2021 is turning out to be a...

Opinion: Uber investors finally see the costs of treating drivers as employees, and the stock is falling

Uber Technologies Inc. has spent and fought to keep its drivers from becoming classified as employees instead of contractors, and investors finally got a glimpse...

Uber and Lyft expect ride-hailing to make a sharp recovery, but there are some potential roadblocks

As more people get vaccinated against COVID-19 and pandemic restrictions ease, the ride-hailing industry is gearing up for a comeback, but is facing potential roadblocks....

NBA star Kevin Durant invested in Coinbase in 2017 — his stake is now worth 53 times what it was worth then

Cryptocurrency platform Coinbase Global Inc. COIN, +5.96% became the most valuable U.S. financial exchange on Wednesday as it ended the day trading at $328.28, valuing...

Netflix and Uber support U.S. voting rights, while fighting their own investors’ pushes for more democratic practices

Netflix Inc., Uber Technologies Inc. and some of the hundreds of big companies that signed a statement Wednesday speaking up against voting-rights restrictions oppose shareholder...

PRO Act, called ‘most important labor legislation in several generations,’ passes House

The U.S. House of Representatives on Tuesday passed the PRO Act, which supporters called the most significant labor legislation in decades and opponents characterized as...

Uber rides recovering and delivery bookings rise 128%, but revenue misses expectations

Uber Technologies Inc. on Wednesday reported fourth-quarter and full-year results that showed a continued recovery from the effects of the coronavirus pandemic, but it continued...

Lyft shares surge nearly 11% as it posts narrower-than-expected full-year loss and signals optimism over rides

Lyft Inc. on Tuesday reported fourth-quarter results that showed there was a continued rebound in ride-hailing, but it was marred by an increase in COVID-19...

‘One job is no longer enough to survive’: Dolly Parton’s Super Bowl ad glosses over the reality for millions of gig workers, critics say

Dolly Parton’s “5 to 9” Superbowl ad is just as catchy and upbeat as her original hit song “9 to 5”. But the reality of...

Lawsuit seeks to throw out California measure that protects ‘gig economy’ business model

Ride-hailing drivers and the Service Employees International Union filed a lawsuit against California on Tuesday that asks the state Supreme Court to invalidate Proposition 22...

California post-Prop. 22: Gig workers to see pay changes, customers to see higher prices

Californians this week will start to see the effects of Proposition 22, the ballot measure that 58% of the state’s voters passed in November. The...

Weekend reads: Hot IPOs for DoorDash and Airbnb point to an overheated stock market

Shares of DoorDash Inc. DASH and Airbnb Inc. ABNB shot straight up after the companies’ initial public offerings this week. That sort of exuberance can...

The pandemic has more than doubled food-delivery apps’ business. Now what?

Zachary Davis, owner of The Glass Jar restaurant group in Santa Cruz, Calif., said he intentionally avoided working with food-delivery apps before the COVID-19 pandemic...

Joe Biden has big plans to help protect gig workers — but will he be able to enact them?

Gig workers are in for some changes under the Biden administration. For starters, President-elect Joe Biden promised on his campaign website to “ensure workers in...

Big business spent millions to sway Californians’ votes, and received billions in return

California voted on a dozen propositions in Tuesday’s election, with two receiving large corporate financial commitments. Getty Images Large public companies proved Wednesday that spending...

Companies try to avoid Election Day earnings, but there are still plenty of numbers coming

The week ahead brings another packed earnings slate, but it’s likely to get overshadowed by far bigger events.  Even with companies largely trying to avoid...

Just Eat Takeaway shares soar as COVID-19 fears keep home-dining orders coming

Just Eat Takeaway’s order growth jumps amid continuing demand for online delivery. Carl Court/Getty Images Shares in Just Eat Takeaway leapt more than 5% on...

European stocks lower and U.S. equity futures stabilize amid earnings, pandemic worries

A street sign advises members of the public to “Maintain Social Distance” in Liverpool, north west England on October 12, 2020, as new local lockdown...

The pandemic turned Postmates’ IPO plans into a bidding war between Uber and Wall Street

Postmates, which is being bought by Uber, has not turned a profit since its inception. Justin Sullivan/Getty Images On March 17, the day the San...