Uber wins 30-month London license, ending a lengthy battle with city regulators

Uber wins 30-month London license, ending a lengthy battle with city regulators


Peter Summers | Getty Images

LONDON — Uber has secured a 30-month license to continue operating in London, ending a protracted battle with city regulators over whether the ride-hailing app was “fit and proper.”

“Uber has been granted a London private hire vehicle operator’s license for a period of two and a half years,” a Transport for London spokesperson said in a statement Saturday.

The move ends a years-long spat with the agency, which twice revoked Uber’s London license — once in 2017, and a second time in 2019. Authorities were concerned about the company’s ability to keep passengers safe. Uber subsequently won an 18-month London permit in court.

Uber has sought to turn on the charm over the years, adding new safety features to its platform and striking a deal with Britain’s GMB to formally recognize the labor union for its private hire drivers.

The company reclassified all its U.K. drivers as workers last year after the country’s top court ruled a group of drivers should be treated as workers instead of independent contractors, entitling them to employment protections like a minimum wage, holiday pay and pensions.

“TfL rightly holds our industry to the highest regulatory and safety standards and we are pleased to have met their high bar,” Jamie Heywood, Uber’s regional general manager for Northern and Eastern Europe, said in a statement.

The decision removes a key source of uncertainty for Uber in the U.K. — London is its largest European market — and comes as the company is dealing with rising inflation amid the twin challenges of a labor shortage and surging energy prices. Uber hiked its London fares by 10% in November.



Source

Stablecoins go mainstream: Why banks and credit card firms are issuing their own crypto tokens
Technology

Stablecoins go mainstream: Why banks and credit card firms are issuing their own crypto tokens

A $44 billion IPO. A Senate bill with bipartisan momentum. And now, a wave of Fortune 500 firms launching crypto tokens of their own. Stablecoins — once a niche corner of the cryptocurrency world — are entering the corporate and policy mainstream, potentially reshaping how money moves in the United States and around the world. […]

Read More
At 20 years old, Reddit is defending its data and fighting AI with AI
Technology

At 20 years old, Reddit is defending its data and fighting AI with AI

Reddit CEO Steve Huffman stands on the floor of the New York Stock Exchange (NYSE) after ringing a bell on the floor setting the share price at $47 in its initial public offering (IPO) on March 21, 2024 in New York City. Spencer Platt | Getty Images News | Getty Images For 20 years, Reddit […]

Read More
Bigger bitcoin HODL: Time for 10% to 40% of portfolio in crypto, says financial advisor Ric Edelman
Technology

Bigger bitcoin HODL: Time for 10% to 40% of portfolio in crypto, says financial advisor Ric Edelman

Four years ago, financial advisor Ric Edelman went out on a limb in saying everyone should hold cryptocurrencies. But how much? Low single digits was his recommendation. In his “The Truth about Crypto” book in 2021, Edelman said as low as a 1% allocation was reasonable. A lot has changed. This week, Edelman said financial […]

Read More