California's Public Utilities Commission made an order Tuesday regarding Uber and Lyft drivers. All drivers are "presumed to be employees" under AB-5, the state's new gig work law. The agency said they must now comply with existing regulations related to employees. The ruling is a significant defeat for Uber and Lyft, which had argued publicly and in lawsuits. Their argument was that their drivers were properly classified as independent contractors.
Reuters Lyft said some cities were starting to see significant rebounds following the coronavirus' decimation of ride-hailing requests. Overall, US rides were up 26% in May compared to April, with some cities like Austin, Texas up as much as 73%. Shares of Lyft rose about 4% in after-hours trading as investors welcomed the rebound. Visit Business Insider's homepage for more stories.
Uber and Lyft said they'll suspend rides and deliveries in cities where curfews are issued. Over the weekend, Uber temporarily shut down in parts of country says Business Insider. California, Minnesota, New York City, Los Angeles, Washington D.C. and others have enacted curfews. Rentable scooters have also become a mainstay of protests. Lime says it's removing vehicles from select cities. The companies hope to discourage people from using their companies to get to protests.
The NY Times and Business Insider report that Uber is holding acquisition talks with food delivery startup Postmates. Earlier this year Uber was reported to be holding acquisition talks with Grubhub. But those talks reportedly fell through. In mid-June Grubhub announced it was merging with Just Eat. Postmates is smaller than Grubhub, and would be more amenable to a take-over.
Just Eat Takeaway, a food-delivery service based in Europe, bought Grubhub. According to Gizmodo, while sales have spiked, operation costs have also been high. The acquisition of Grubhub makes it the largest digital food delivery service operator outside of China. Stories analyzing the deal pointed out a European deal was less likely to get blocked by antitrust regulators. Before Just Eat Takeaway acquired Grubhub, Uber wanted to also buy the food-delivery service.
Travis Kalanick is the founder of Uber. He was recently kicked out of the company. Business Insider reports that Kalanick founded CloudKitchens, a delivery-only restaurant operation. Kalanick says the company is the victim of arson. On Twitter, the company said two fires were started. They posted video evidence of the intruders. The company is worth more than $7 billion. It's funded from Kalanick's Uber wealth as well as Saudi Arabia.
Walmart is reportedly set to launch Walmart+ ...the company’s answer to Amazon Prime. Walmart + will go live later in July, after the coronavirus pandemic delayed its initial springtime launch. A Walmart spokesperson declined to provide further comment about Walmart+ to Business Insider. This is Walmart's latest bid to dominate e-commerce and fend off its online, Seattle-based rival. The $98 monthly subscription is rumored to include several perks, including...
Competition in the US wireless carrier market remains fierce, reports Business Insider. The Big Four US carriers are Verizon, AT&T, T-Mobile, and Sprint. In an attempt to avoid further competition on price, carriers began shifting their focus. Most added value to their mobile plans with new offerings to differentiate from the competition. New, expensive unlimited plan tiers loaded offer an array of features and choices.
According to Business Insider, research shows that Americans who work for themselves report high levels of happiness and satisfaction. And considering the US now has a higher rate of unemployment than during the Great Depression, perhaps it's time to think about creating your own job. If you're thinking about starting your own business, the first thing to do is to get started. Think about what you want to do or sell, and if there's a market for it.
Kanye West said he intended to run for president of the United States. West announced his presidential ambitions on Twitter on Saturday. "We must now realize the promise of America by trusting God, unifying our vision and building our future. I am running for president of the United States!" Business Insider reports that West received a range of reactions. The deadline to file as an independent presidential candidate has passed in six states. Seven other states have deadlines fast approaching.
As many as 20 major EU banks are set to announce details for a new payments initiative in the very near future. This announcement came from Electronic Payments International. Business Insider reports the system is referred to as the Pan European Payment System Initiative (PEPSI). It will process card payments in addition to making fund transfers and mobile payments without using Mastercard's or Visa's network.