London payment firm launches Banking-as-a-Service solution on Advcash December 16, 2022 Fintech infrastructure firm, Mercuryo has partnered with payment platform Advcash to offer its customers access to virtual IBANs for EU and UK residents.
Uber drivers to get holiday pay and pensions after taxi app loses Supreme Court case March 16, 2021 Uber has agreed to give its UK drivers holiday pay and pensions following a landmark ruling in the Supreme Court. The taxi app said all of its 70,000 drivers in the UK will be eligible to receive holiday pay on a fortnightly basis following the case at the UK’s top court, which ruled that drivers [...]
Uber’s food delivery business doubles but demand for rides falters August 6, 2020 Uber said demand for its food-delivery service doubled in the second quarter as users were locked down due to the pandemic, while demand for rides was hit. The company maintained it was sticking to its goal of being profitable on an adjusted basis before the end of next year. Today it reported that revenue in [...]
Uber sells off flying taxi division in drive for profit December 9, 2020 Uber has sold off its loss-making flying taxi division to California-based firm Joby Aviation, the second such disposal the ride-hailing firm has made in two days. In a statement released late last night, Joby said that Uber would invest an extra $75m into the company as part of the acquisition of Elevate. That takes Uber’s [...]
Uber pulls plug on own self-driving car programme December 7, 2020 Uber has abandoned plans to create its own self-driving car, and will instead take a minority stake in Aurora, a driverless vehicle start-up backed by Amazon and Sequoia, an American venture capital firm. Uber will transfer its 1,200-employee self-driving unit to Aurora, which at present has 600 staff, and will invest $400m into the project, [...]
Uber shares fizz on $1.1bn takeover of alcohol delivery firm Drizly February 2, 2021 Shares in Uber moved up a gear this afternoon after it announced a $1.1bn (£806m) deal to acquire alcohol delivery service Drizly. The deal, which is Uber’s biggest acquisition since it bought rival Postmates last year, will be paid more than 90 per cent through stock, with the remainder paid in cash. Once the transaction [...]
The City View: Jamie Heywood on Uber’s licencing battle July 15, 2020 Subscribe to The City View Podcast: Apple / Google / Spotify / RSS Today Andy Silvester is joined by Jamie Heywood, Uber’s General Manager for the UK, Northern and Eastern Europe. They talk about the firm’s licencing battle, how Covid-19 has affected the company and the future of transportation. Electric cars, charging points, the new Uber boat and congestion charging are all on [...]
PwC Australia cuts over 300 jobs following tax leak scandal November 8, 2023 Pricewaterhouse Coopers (PwC) Australia on Wednesday announced hundreds of job cuts citing a slowing economy and the after-effects of a national scandal over leaked tax documents as a major audit client cut ties with the firm. The audit and consulting major has been under fire this year after revelations a former partner leaked government tax [...]
City Hall politician warns Bolt of licence issues if workers’ conditions not improved December 5, 2022 A leading City Hall politician has warned ride-sharing app Bolt it could be barred from operating in the capital unless it improved its drivers’ pay and conditions. Labour transport lead Elly Baker has tweeted that Bolt should give its workers “the rights they deserve,” otherwise it would face “serious questions over its licence to operate [...]
Nigerian mobility fintech Moove raises £15m to ramp up UK operations October 19, 2022 Nigerian mobility fintech Moove has raised £15m from asset manager Emso to ramp up operations in the UK. Moove said the financing will help it provide 10,000 electric vehicles to Uber’s fleet as part of its UK launch. This will enable Moove to become Uber’s largest EV provider as the ride hailing giant aims to [...]