Latest Lyft Inc News

FILE - In this May 6, 2020, file photo, a Hertz car rental is closed during the coronavirus pandemic in Paramus, N.J. Hertz filed for bankruptcy protection Friday, May 22, 2020, unable to withstand the pandemic that has crippled global travel and with it, the heavily indebted 102-year-old car rental company's business. (AP Photo/Ted Shaffrey, File)

Debt and coronavirus push Hertz into bankruptcy protection

May. 23, 2020 12:29 AM EDT

Hertz filed for bankruptcy protection Friday, unable to withstand the coronavirus pandemic that has crippled global travel and with it, the heavily indebted 102-year-old car rental company's business. The Estero, Florida-based company's lenders were unwilling to grant it another extension on its auto lease debt...

FILE - In this Aug. 16, 2019 file photo, the logo for Uber appears above a trading post on the floor of the New York Stock Exchange. Uber has cut 3,000 jobs from its workforce, its second major wave of layoffs in two weeks as the coronavirus slashed demand for rides. (AP Photo/Richard Drew, file)

Uber cuts 3,000 jobs as pandemic slashes demand for rides

May. 18, 2020 2:03 PM EDT

NEW YORK (AP) — Uber has cut 3,000 jobs from its workforce, its second major wave of layoffs in two weeks as the coronavirus slashed demand for rides. The San Francisco company has cut a quarter of its workforce since the year began, eliminating 3,700 people from the payroll earlier this month. Uber will...

FILE - In this Wednesday, May 6, 2020, file photo, Luis Hidalgo, wearing face mask, watches as Joel Rios installs a plastic barrier in his car to protect himself and his passengers from the new coronavirus in the Bronx borough of New York. Hidalgo, who drives sometimes for Uber, said he has not worked for two months for fear of the coronavirus but mounting bills have forced him back to work; he hopes the plastic barrier will keep him and his passengers safe. (AP Photo/Seth Wenig, File)

Face mask rules grow but enforcement proves a challenge

May. 13, 2020 6:42 PM EDT

NEW YORK (AP) — Ride-hailing giants Uber and Lyft are requiring drivers and passengers to wear masks while using their services, joining a growing list of transportation companies hoping to mitigate the spread of COVID-19 as some cities emerge from lockdown. All major U.S. airlines have already rolled out...

A doctor takes a nasal swab to be tested for the coronavirus in Dharmsala, India, Saturday, May 9, 2020. India relaxed some coronavirus lockdown restrictions on Monday even as the pace of infection picked up and reopenings drew crowds of people. (AP Photo/Ashwini Bhatia)

The week that was: A balance of economy and public health

May. 9, 2020 12:23 PM EDT

NEW YORK (AP) — As heads of state, local leaders, business owners and individual citizens weighed the costs of re-opening the global economy, fears of new outbreaks grew. A central question emerged: How much infection and loss of life will emerge amid the push to restart business? The scope of economic...

People wearing a face mask to help curb the spread of the coronavirus stand near an electronic stock board showing Japan's Nikkei 225 index at a securities firm in Tokyo Friday, May 8, 2020. Asian shares surged Friday on optimism the worst of the economic fallout from the pandemic may be over, as Wall Street logged its biggest rally in a week.(AP Photo/Eugene Hoshiko)

Stocks rise on hope that worst of economic plunge has passed

May. 7, 2020 11:46 PM EDT

TOKYO (AP) — Asian shares surged Friday on optimism the worst of the economic fallout from the pandemic may be over, as Wall Street logged its biggest rally in a week. Japan's benchmark Nikkei 225 jumped 1.8% to 20,025.91. South Korea's Kospi jumped 1.3% to 1,954.48. Australia's S&P/ASX 200 rose 0.8%...

FILE - In this Nov. 15, 2019, file photo an Uber office is seen in Secaucus, N.J. Uber lost $2.9 billion in the first quarter as its overseas investments were hammered by the coronavirus pandemic. (AP Photo/Seth Wenig, File)

Uber loses $2.9 billion, offloads bike and scooter business

May. 7, 2020 7:53 PM EDT

NEW YORK (AP) — Uber lost $2.9 billion in the first quarter as its overseas investments were hammered by the coronavirus pandemic, but the company is looking to its growing food delivery business and aggressive cost-cutting to ease the pain. The ride-hailing giant said Thursday it is offloading Jump, its...

Peloton, PayPal rise; Elanco, Danaher fall

May. 7, 2020 4:23 PM EDT

NEW YORK (AP) — Stocks that moved heavily or traded substantially on Thursday: Peloton Interactive Inc., up $6.09 to $44.12. The exercise bike and treadmill company reported a surge in fiscal third-quarter revenue that beat Wall Street forecasts. PayPal Holdings Inc., up $17.98 to $146.29. The technology...

FILE - In this Feb. 22, 2018, file photo Airbnb co-founder and CEO Brian Chesky speaks during an event in San Francisco. In a world where social distancing has become a part of life and people are staying home in hopes of avoiding the coronavirus, companies that have built their business on the sharing economy are struggling. Ride-hailing companies are laying off thousands of employees as their once-loyal customers stay indoors. Those who venture out fear infection, and try to limit contact with others to minimize risk. And home-sharing apps such as Airbnb are slashing staff as the thought of opening living spaces to strangers begins to feel like an anachronism. (AP Photo/Eric Risberg, File)

Uber lays off 3,700 as virus upends sharing economy

May. 6, 2020 6:40 PM EDT

NEW YORK (AP) — In a world where the coronavirus pandemic has turned social distancing into a new way of life, companies whose business models bank on people's willingness to share their personal space are now struggling. Uber said Wednesday it's cutting 3,700 full-time workers, or about 14% of its...

FILE - In this Wednesday, July 24, 2019, file photo, Rep. John Ratcliffe, R-Texas., questions former special counsel Robert Mueller as he testifies before the House Intelligence Committee hearing on his report on Russian election interference, on Capitol Hill in Washington. (AP Photo/Andrew Harnik, File)

5 things to know today - that aren't about the virus

May. 5, 2020 8:01 PM EDT

Your daily look at nonvirus stories in the news: 1. CALIFORNIA SUES UBER AND LYFT: California is suing ride-hailing companies Uber and Lyft, alleging they misclassified their drivers as independent contractors under the state’s new labor law. 2. TRUMP DENIES US ROLE IN VENEZUELA: President Trump says the...

FILE - In this Aug. 28, 2019, file photo dozens of supporters of a measure to limit when companies can label workers as independent contractors circle the Capitol during a rally in Sacramento, Calif. California is suing ride-hailing companies Uber and Lyft, alleging they misclassified their drivers as independent contractors under the state's new labor law, AB5, in effect as of Jan. 1. Attorney General Xavier Becerra announced the lawsuit Tuesday, May 5, 2020, during a news conference. (AP Photo/Rich Pedroncelli, File)

California sues Uber, Lyft over alleged labor law violations

May. 5, 2020 4:36 PM EDT

LOS ANGELES (AP) — California sued ride-hailing companies Uber and Lyft on Tuesday, alleging they misclassified their drivers as independent contractors under the state's new labor law. Attorney General Xavier Becerra and the city attorneys of Los Angeles, San Diego and San Francisco announced the lawsuit...