Uber lays off 400 marketing staff in drive to trim IPO bloat July 30, 2019 Uber has laid off a third of its global marketing team as it pushes to cut bloat after its stock market debut in May. The decision to cut its marketing team from 1,200 to 800 people represents an overall staff reduction of roughly 1.6 per cent worldwide. Read more: Uber and rival Ola sniff around [...]
Facebook launches cryptocurrency with backing of Uber, Visa and Spotify June 18, 2019 Facebook has today published the white paper for its widely anticipated cryptocurrency initiative, with the founding support of several major businesses across multiple sectors. Named libra after the Roman unit of measure once used to mint coins, the cryptocurrency will be managed by an independent eponymous association consisting of 28 initial founding companies. Alongside Facebook [...]
Illuminate Financial closes $100m round with backing from JP Morgan and Barclays March 17, 2021 London-based VC firm Illuminate Financial has closed a $100m round with backing from JP Morgan Chase and Barclays. The fund, which is Illuminate’s second, was anchored by Deutsche Borse and IHS Markit, with additional backing from Draper Esprit and family offices. It was launched in early 2019 before closing in January 2021. “It has been [...]
Taxi and private hire drivers to undergo criminal record checks every six months July 21, 2020 Taxi and private hire drivers will have to undergo criminal record checks every six months as part of a suite of new measures to protect passengers. Under new licensing standards introduced today by the government, drivers will also be given safeguarding training so they can help passengers being exploited or abused. In addition, the standards [...]
Mayor of London election: Sadiq Khan pledges to name London Overground lines April 6, 2021 Sadiq Khan has pledged to give individual names to London Overground train lines if re-elected as mayor of London next month. Khan’s manifesto, released today, said the “London Overground network has grown considerably over recent years” and that “to reflect this I’ll launch a programme to name individual routes, giving each its own identity”. The [...]
Is Uber the new Amazon? April 2, 2019 By Edmond Jackson from interactive investor. In a test of narrative power versus whopping financial losses, so-called “ride-hailing” or “ridesharing” giants Uber and Lyft have rivalled each other to list on the New York Stock Exchange – Lyft got there first. Both capture the spirit of the times, connecting taxi drivers to passengers via their [...]
Lexus NX 450h+ plug-in hybrid review: smooth operator November 22, 2021 The new Lexus NX 450h+ plug-in hybrid promises big tax savings and a painless ownership experience.Tim Pitt drives it.
From low expectations to future hopes: Four things we learnt from Uber’s stock market debut May 11, 2019 It was billed as one of the most anticipated initial public offerings (IPOs) in years, but yesterday Uber's investors were left disappointed when it set sail on the public markets for the first time. Here are four things we were looking out for during yesterday's trading. Read more: Uber shares begin NYSE trading in $82.4bn [...]
WhatsApp down globally, 40m Brits and hundreds of millions impacted around the world October 25, 2022 Meta-owned messaging app WhatsApp went down for over an hour this morning in dozens of countries around the world, including the UK, Netherlands, Germany, Italy, Malaysia, Kenya, India, France and most of the United States and Canada. City A.M. can confirm that the outage was for both personal chats as well as group chats and hundreds [...]
Uber under investigation by US and foreign tax authorities June 4, 2019 Uber has revealed it is under investigation by a string of tax authorities in the US and abroad. The ride-hailing firm said in a filing today that the Internal Revenue Service (IRS) has launched a probe into its taxes for 2013 and 2014. Read more: Uber loses $1bn in first quarterly results since stock market [...]