Latest Lyft Inc News

New Jersey seeks $640M from Uber for misclassifying workers

Nov. 14, 2019 5:22 PM EST

TRENTON, N.J. (AP) — New Jersey is seeking more than $640 million from Uber in taxes and penalties, saying the ride-hailing company misclassified its drivers as independent contractors. The decision is the latest setback for Uber and other companies in the so-called “gig economy” that rely...

Truckers file 1st suit contesting California gig economy law

Nov. 12, 2019 9:24 PM EST

SACRAMENTO, Calif. (AP) — The California Trucking Association on Tuesday filed what appears to be the first lawsuit challenging a sweeping new labor law that seeks to give wage and benefit protections to workers in the so-called gig economy, including rideshare drivers at companies such as Uber and Lyft....

Uber CEO walks back comment on Saudi writer's slaying

Nov. 11, 2019 3:07 PM EST

NEW YORK (AP) — Uber CEO Dara Khosrowshahi is being criticized for calling the murder of a Washington Post columnist "a mistake" and comparing it to the death of a pedestrian struck by one of the company's autonomous vehicles. Khosrowshahi later said he regretted his comments, made during an interview with...

Got a weird text? A telecom vendor says it's to blame

Nov. 8, 2019 4:15 PM EST

If you woke up to a weird text that seemed totally out of place, you aren't alone. A mysterious wave of missives swept America's phones overnight, delivering confusing messages from friends, family and the occasional ex. Friends who hadn't talked to each other in months were jolted into chatting. Others briefly...

While losses mount, Uber CEO expects profitability in 2021

Nov. 4, 2019 6:29 PM EST

NEW YORK (AP) — The losses at Uber are mounting, but the ride-hailing heavyweight now predicts it will be profitable in about two years. CEO Dara Khosrowshahi said Monday that the company's goal is to reach profitability — when adjusted for interest, taxes, depreciation and amortization — for...

Asian markets follow Wall Street higher after Fed rate cut

Oct. 31, 2019 1:32 AM EDT

BEIJING (AP) — Most Asian stock markets followed Wall Street higher on Thursday after the Federal Reserve cut a key interest rate. Tokyo, Hong Kong and Seoul advanced. Shanghai retreated 0.1% after Chinese factory activity weakened more than expected in October. Investors welcomed the Fed's third rate cut...

Cohen partner gets probation in tax fraud case

Oct. 30, 2019 10:34 PM EDT

ALBANY, N.Y. (AP) — A past associate of President Donald Trump's imprisoned former lawyer, Michael Cohen, was sentenced to probation Wednesday for engaging in tax fraud. Evgeny Freidman, 48, who was dubbed the Taxi King of New York for managing cab fleets for investors including Cohen, was sentenced in...

Lyft loses money again but eyes profits in about 2 years

Oct. 30, 2019 7:30 PM EDT

NEW YORK (AP) — Lyft is still losing staggering sums of money as it barrels ahead with impressive revenue growth, but its executives said they believe the company will turn a corner and reach profitability in about two years. The ride-hailing heavyweight brought in $955.6 million in revenue in the third...

Lyft, Uber will ask California voters to block employee law

Oct. 29, 2019 5:39 PM EDT

SACRAMENTO, Calif. (AP) — Some of the country's largest ride-sharing companies proposed a California law on Tuesday that would let them continue to treat drivers as independent contractors while also guaranteeing them a minimum wage and money for health insurance. The state Legislature enacted legislation...

Traffic a breeze at New Jersey megamall's limited opening

Oct. 25, 2019 5:04 PM EDT

EAST RUTHERFORD, N.J. (AP) — The first official day of the long-awaited American Dream megamall Friday didn't produce the traffic nightmares many predicted for the massive complex outside New York City, mostly due to a "soft" opening that featured only two attractions that served a few thousand people,...