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The Latest Breaking News from Lyft

Lyft Makes a Huge and Fundamental Change

It could take the rideshare company in a new direction

The Street

We were told we'd be riding in self-driving cars by now. What happened to the promised revolution?

According to predictions made nearly a decade ago, we should be riding around in self-driving vehicles today. It’s now clear the autonomous vehicle revolution was overhyped.

The Conversation

Uber, Lyft Shares Rise As California Court Rules Drivers Can Be Independent

Uber stock jumped Tuesday, as did Lyft and DoorDash, thanks to a court ruling on how they categorize drivers.

Investors Business Daily

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Ride-Share and Delivery Drivers Are Independent Contractors, Says Court

Plus: College says abortion art runs afoul of state law, the politics of Silicon Valley Bank's collapse, and more...

Reason

California court says Uber, Lyft can treat state drivers as independent contractors

The ruling mostly upholds a voter-approved law that said drivers for ride-share companies are independent contractors and are not entitled to benefits like paid sick leave and unemployment insurance.

WEKU

California court rules for Uber, Lyft in ride-hailing case

A California appeals court has ruled companies like Uber and Lyft do not have to treat their drivers as employees

The Independent UK

Should You Kick Lyft Stock to the Curb in 2023?

Shares of ride-sharing company Lyft (LYFT) plummeted more than 75% over the past year. An unexpected fourth-quarter loss and disappointing revenue guidance for the first quarter of 2023 contributed to the weakened investor sentiment. Given its massive losses, weak guidance, fierce competition among industry peers, and low profitability, is it…

StockNews.com

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‘Hard to ignore Julie Su’: Biden’s labor secretary pick fights for confirmation

Supporters fear Su, the deputy labor secretary, might have a hard time getting the needed Senate votes as some business groups oppose her nomination

The Guardian - US

First Thing: seven killed in shooting at Jehovah’s Witness hall in Germany

Chancellor Olaf Scholz denounces ‘brutal act’ after suspected gunman found dead. Plus, the people who inherit hobbies from loved ones

The Guardian - UK

‘It was traumatic’: Uber, Lyft drivers decry low pay and unfair deactivations

Drivers call for regulation of rideshare companies they say collect up to 50% of fares and arbitrarily close workers’ accounts

The Guardian - US

Las Vegas Strip Inches Closer to Solving a Huge Problem

The incredible success of the Strip's resort casinos has led to an unpleasant situation for tourists.

The Street

Brian Merchant: Uber and Lyft's 'deactivation' policy is dehumanizing and unfair. It must end

By any metric, James Jordan was an exemplary Uber driver. Starting in 2016, he worked 10 hours a day, six days a week. Over the course of 5 1/2 years, he logged 27,000 trips and maintained a rating of 4.95.

Los Angeles Times

Brian Merchant: Will self-driving cars make LA's world-famous traffic even worse?

For some reason — no one seems to know just why — the self-driving cars can't stay away from a random sleepy block in Santa Monica.

Los Angeles Times

Ride-share companies are losing billions, so why their interest in unprofitable public transport?

Why do Uber, Lyft, Didi, OLA and other ride-sharing companies want to partner with public transport agencies? For Uber and Lyft, the reason is simple: their business plans were based on eventually using driverless vehicles to eliminate their main cost, the labour cost of the driver. But human drivers won’t…

The Conversation

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Los Angeles Times

UC Riverside should investigate economics research center, faculty say

LOS ANGELES — Some University of California faculty members are raising the alarm about a research center affiliated with UC Riverside that they say uses corporate funding for reports "attacking proposals to improve the lives of working Californians."

Tribune News Service

NYC Lyft and Uber drivers are getting less of the fare per ride: UCLA report

NEW YORK — Uber and Lyft have more than doubled their the size of their cut of New York City customers’ fare money — far outpacing the pay raises seen by their drivers, a new study says.

The Street

Lyft Stock Hammered on Earnings Report, and Support May Not Be Near

Shares of Lyft are slumping Feb. 10 after the ride-share provider delivered a disappointing quarterly report.

Investors Business Daily

Stock Market Pulls Back As Treasury Yields Jump; Google Dives On AI Flop: Weekly Review

The stock retreated with the major indexes testing some key levels as Treasury yields rebounded. Google plunged as an AI event backfired.

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news in one place.

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The Street

Lyft Earnings Fail to Impress Investors

Adidas warns investors that leftover Yeezy inventory could cost the company billions of Euro in sales, Lyft disappoints Wall Street with its quarterly results.

Investors Business Daily

Dow Jones Falls After Inflation Survey Data; Lyft Crashes 35% On Earnings Miss

The Dow Jones Industrial Average fell Friday after preliminary inflation survey data from the University of Michigan. Lyft crashed on weak Q4 results.

The Street

Lyft Plummets As Price Cuts Hammer Profit Outlook, Widen Gap With Uber

"To take advantage of this opportunity and grow the market, we must prioritize competitive service levels," said CEO Logan Green.

The Street

Stocks Edge Lower, Adidas, Lyft, PayPal, Expedia In Focus - Five Things To Know

Stock futures slip as Treasury yields move higher; Adidas counts the cost of Kanye West split, shares slump; PayPal higher after solid Q4 earnings, CEO Schulman to retire; Lyft shares collapse after grim forecast widens gap with Uber and Expedia slides as severe December weather blunts travel, bookings.

Investors Business Daily

Dow Jones Futures Fall As Market Shakeout Deepens; Tesla Doubles From Bear Low

The market rally got a needed shakeout, but here's what you should do. Tesla slightly raised the base Model Y price in China. Cloudflare leapt on earnings after hours

Investors Business Daily

Lyft Stock Collapses By A Third As Earnings Miss, Outlook Falls Short

Lyft stock plunged as earnings fell below expectations, with a current-quarter outlook that was also below views for the ride-hailing firm.

The Independent UK

Missing Florida Lyft driver found dead as car surfaces in North Carolina

Gary Levin’s car found across state lines in North Carolina

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