Uber

Dara Khosrowshahi, chief executive officer of Uber Technologies Inc., smiles during a Bloomberg Technology television interview in San Francisco, California, U.S., on Tuesday, Dec. 14, 2021.David Paul Morris | ReutersUber announced its latest slate of updates Monday ahead of what's expected to be a busy travel and events season.The features, announced during its Go/Get virtual event, include:A new option that lets you book a bus or passenger van.A trip itinerary feature to help book rides throughout an extended trip, like…

Uber has launched a new product called “Comfort Electric” to get people to ride in electric vehicles, more specifically the Tesla and Polestar vehicles that the ride-sharing companies have been helping its drivers get. Over the last few years, Uber has been making a lot of moves to make electric vehicles a larger part of its fleet. In 2020, the company announced an $800 million investment to push for electrification. We noted that the plan wasn’t really ambitious since they were aiming for all-electric by 2040.…

Uber held its second annual product event today, at which the company announced new features for business travelers, group rides, and electric vehicles. The news comes as the company’s CEO, Dara Khosrowshahi, is renewing his efforts to make Uber’s core ride-hailing product profitable through cost-cutting and a hiring slowdown. Just because Uber is trying to rein in its costs doesn’t mean it will stop rolling out new features in its ongoing effort to win new customers (or retain its current customers) and expand into…

Uber shares skidded Wednesday after the company said it was hit with a big loss in the first three months of this year despite a rebound in its ride-share business.Quarterly revenue at Uber's rides unit nearly tripled year on year to $2.5 billion (roughly Rs. 19,066 crore), topping the sum taken in from its food-delivery service for the first time since the pandemic prompted a boom in people ordering meals in. But despite overall revenue more than doubling compared to the same period last year, Uber logged a net loss of…

Uber will scale back hiring and reduce expenditure on its marketing and incentive activities, CNBC reported on Monday, citing a letter from Chief Executive Officer Dara Khosrowshahi.The ride-hailing company becomes the latest to rein in costs to have a lean investment model, after Facebook-owner Meta said last week it would slow down the growth of its workforce.Khosrowshahi said Uber's change in strategy was a necessary response to the "seismic shift" in investor sentiment, according to the CNBC report."The least…

The government has called a meeting of cab aggregators like Ola and Uber on Tuesday to discuss their policies related to fare calculation, surge pricing, ride cancellations and measures taken by them for data protection of customers, Consumer Affairs Secretary Rohit Kumar Singh said on Monday. The meeting has been called amid rise in consumer complaints of alleged unfair trade practices by these platforms, including ride cancellation policy as drivers force customers to cancel trips after accepting bookings, which results…

Twitter Inc. TWTR -8.31% is freezing most hiring. Amazon.com Inc. recently said it is overstaffed in its warehouses. Uber Technologies Inc. UBER 3.57% told employees to consider hiring a privilege.After years of adding jobs at a rapid pace, some of America’s fastest-growing companies have signaled in recent weeks that they plan to take a more cautious approach to bringing on new workers. The shift by these technology…

TOKYO— SoftBank Group Corp. 9984 10.64% , one of the world’s most aggressive high-tech investors, said Thursday it lost more money in its last fiscal year than it ever has—$13.2 billion—and will cut back its pace of new investments.“The world is in a chaotic situation,” said Chief Executive Masayoshi Son, citing Covid-19 and Russia’s invasion of Ukraine. “In this chaotic world, the approach we at SoftBank should take is defense.” The rough…

The complaints against taxi services like Ola and Uber have increased significantly. Because of this, the government has announced that they will be investigating both companies for unfair practices. The government will sit with Ola and Uber and will ask them about the issues. Demand for cabs is increasing because people do not want to drive themselves as the traffic on the Indian roads is increasing. But there are issues that the companies are facing. Tanveer Pasha, the president of Ola and Uber drivers’ association…

Peter Thiel, co-founder and chairman of Palantir Technologies Inc., pauses during a news conference in Tokyo, Japan, on Monday, Nov. 18, 2019.Kiyoshi Ota | Bloomberg | Getty ImagesCheck out the companies making headlines in midday trading Monday.Palantir – Shares of the software company dropped more than 18% after Palantir's first-quarter earnings came in below expectations. The company reported 2 cents of adjusted earnings per share on $446 million of revenue. Analysts surveyed by Refinitiv expected 4 cents of earnings…