Uber Seeks to Cut Prices With New Pool Rides

Uber Seeks to Cut Prices With New Pool Rides

By Angel Adegbesan Uber Technologies Inc. launched a new carpooling feature for its rideshare platform as a way to recover from increases in costs of rides. UberX Share allows the option of cheaper rides by sharing a ride with one other person, in addition to the...
Uber’s Plan to Offer Tesla Rentals Is Full of Hot Air

Uber’s Plan to Offer Tesla Rentals Is Full of Hot Air

By Angel Adegbesan Uber’s decision to rent electric vehicles from Hertz rental company is all hype and investors were right not to buy into it. Uber announced last month that it will be renting about 50,000 electric Tesla vehicles to drivers. Uber’s stock...
Uber Says Profitability Is Now Within Reach

Uber Says Profitability Is Now Within Reach

By Angel Adegbesan Uber Technologies Inc. said it could be achieving a measure of profitability by the end of its third quarter, a first for the company since its founding in 2009. For the quarter ended Sept. 30, the company said it expects to report between a $25...
Uber CEO: End of Its Current Model Is “The End of Flexibility”

Uber CEO: End of Its Current Model Is “The End of Flexibility”

By Angel Adegbesan   The CEO of Uber Technologies Inc. said on Wednesday that changes in how the company currently operates, which provides gig workers with limited benefits as independent contractors and not employees, will mean the demise of flexibility for the...