Uber Technologies’ biggest market in Europe is at risk after regulators revoked the ride-hailing service’s licence to operate in London for the second time in less than three years.
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Uber Technologies has lost its licence in London for the second time in less than three years, putting one of its biggest markets outside of the US at risk.
Masayoshi Son struck a defiant tone after his SoftBank Group reported an enormous loss from investments in money-losing startups WeWork and Uber Technologies.
Uber Technologies disappointed investors with quarterly results showing lacklustre gains in bookings and monthly active users, two of the metrics most closely watched by Wall Street.
In his latest bid to reduce losses at Uber Technologies, Dara Khosrowshahi fired about 350 employees, in what he said is the “last wave” of workforce reductions.
As WeWork continues its stumble to the public markets, some prognosticators see this moment as something more significant: that a WeWork belly-flop portends the end of the unicorn era in Silicon Valley.
Uber Technologies is dismissing 435 employees, the second major staff cut in recent months, as the company faces mounting losses and a declining stock price.
Chinese ride-hailing company Didi Chuxing will roll out robo-taxis in Shanghai, letting people hail self-driving cars through their smartphones.
A former Google engineer has been charged with stealing self-driving car technology from the company shortly before he joined Uber.
Bolt, the ride-hailing service formerly known as Taxify, said it has begun operating a food-delivery business in its native Estonia, and will launch in other European and African countries next year.