Uber’s attempt to buy Grubhub facing challenges
According to the reports, Uber's attempt to build the largest meal delivery company in the US by buying its rival Grubhub has immediately come under fire from lawmakers, city officials, and antitrust experts. Uber and Grubhub, currently the second and third-largest US meal delivery companies by market share behind DoorDash, are in talks over a tie-up as the coronavirus crisis accelerates consumer demand for delivery services.
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Former Uber security chief faces criminal charges for hiding 2016 breach
Federal prosecutors have charged former Uber security chief Joe Sullivan with obstruction of justice for hiding a 2016 data breach from Federal Trade Commission investigators. The criminal complaint, filed Thursday, suggests that Uber's then-CEO Travis Kalanick was aware of the breach and Sullivan's efforts to cover it up. But it argues that Sullivan kept others involved in Uber's FTC response in the dark about the incident.
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Uber stock goes up as the company gets closer to becoming profitable
Uber's stock rose after its latest earnings report showed that the company had lost much less money than expected. This is a sign that the company is much closer to its profitability goal than expected. It was previously thought that Uber would only become profitable by 2021. This growth is thanks to its global expansion.
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Uber testing new feature that will allow drivers to set their own fares
Uber has announced that it will be testing a brand new feature that will allow some drivers to charge more than the fare set by the company. They hope that this feature will prove that the drivers are independent contractors, not employees and thus Uber will not have to improve working conditions.
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Uber to stop operations in Colombia following court decision
Uber has been ordered by Colombian courts to cease operations in the country, a decision the company is saying violates its right to due legal process and will cause enormous harm to the entrepreneurial potential in the country. The court ruled that Uber's operations were detrimental to competition, with Uber replying it will challenge the decision through the appropriate legal avenues.
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