Autonomous competition may be creeping. Shares of Uber Technologies (UBER -9.60%) fell 9.6% in today's trading. At first it may seem odd for Uber to be falling, as the company didn't make any major announcements today. However, a possible future competitor did, with big potential long-term implications. Waymo is coming to Miami On Thursday, autonomous ride-hailing company Waymo, which is majority owned by Alphabet (GOOG -1.01%) (GOOGL -0.99%) , announced it would be expanding to Miami in 2025, with the goal ...

Core Viewpoint - The California Public Utilities Commission (CPUC) has mandated that ride-hail companies, including Uber, must require fingerprint background checks for drivers transporting unaccompanied minors, which poses a challenge for Uber's recently launched service for teens [1][4][8]. Regulatory Changes - The CPUC ruling requires transport companies to pay for fingerprint background checks for drivers carrying unaccompanied minors [1][11]. - Companies must also provide information on live trip tracking, safety procedures, and driver training specifically for transporting minors [10]. Uber's Position - Uber has historically opposed fingerprint-based background checks, arguing that its name-based checks are sufficient and that such requirements could deter drivers from joining the platform [2][6]. - The company claims that less than 10% of its rides involve unaccompanied minors and emphasizes its safety features, including live trip tracking [4][6]. Industry Impact - The ruling is seen as unfavorable for Uber but beneficial for competitors like HopSkipDrive, which already implements fingerprint checks and has a dedicated safety protocol for transporting children [8][9]. - HopSkipDrive's model includes a 15-point certification for drivers, contrasting with Uber's current practices [9]. Financial Implications - Uber has expressed concerns that the cost of fingerprint checks could lead to price increases for its Uber for Teens service, similar to how it has passed costs onto customers in the past [12][13]. - The CPUC noted that if smaller companies like HopSkipDrive can absorb these costs, larger companies like Uber should be able to do so as well [13].

Uber Technologies (UBER) has been benefiting from the fact that its ride-sharing and delivery platforms are gaining popularity. Upbeat gross bookings in both segments have been driving growth. UBER's diversification- related efforts are also commendable. Let us delve deeper to unearth the factors working in favor of this Zacks Rank #2 (Buy) company. UBER's Northward Earnings Estimates: In the past 60 days, the Zacks Consensus Estimate for current and next-year earnings has been revised upward by 76.7% and 1 ...

NEW YORK, Nov. 29, 2024 (GLOBE NEWSWIRE) -- WeRide Inc. (“WeRide” or the “Company”) (Nasdaq: WRD), the world’s first publicly traded Robotaxi company and a global leader in the autonomous driving industry, today announced its unaudited results for the third quarter and nine months ended September 30, 2024. Recent Highlights After the successful listing on Nasdaq, the Company continued to make progress towards its long-term strategic objectives in the development of autonomous driving technologies and appli ...

Autonomous driving could be a significant tailwind for this ride-hailing company.Uber Technologies (UBER 0.08%) operates the world's largest ride-hailing platform, but it's also home to its food delivery service, and the Uber Freight commercial logistics network.Uber's stock price is currently down 8% from its all-time high, which was set just last month, and Donald Trump's recent election victory might be a key reason. However, that could turn into the biggest financial opportunity in the company's history ...

This article has been reviewed according to Science X's editorial process and policies . Editors have highlighted the following attributes while ensuring the content's credibility: Uber has 1,500 women drivers working in Paris. Two rival ride-hailing platforms announced on Thursday options allowing Parisian women to order a car driven by a female driver in a bid to ensure "greater safety" for its customers. The "Uber by Women" option, available from Thursday, comes at no extra cost but with potentially l ...

The Federal Trade Commission (FTC) reportedly is investigating consumer complaints that Uber Technologies signed them up for Uber One subscriptions without their consent and made it difficult for them to cancel those subscriptions.Uber said it has received inquiries from the FTC and is cooperating with the investigation, Bloomberg reported Wednesday (Nov. 27).“We will continue to answer any questions the FTC may have about our cancellation policies,” Uber spokesperson Noah Edwardsen said in the report. “The ...

In Brief The Federal Trade Commission is investigating Uber over whether it broke consumer protection laws by allegedly automatically signing people up for its Uber One subscription service and making it hard to cancel, according to Bloomberg News.The investigation was opened earlier this year after the FTC received customer complaints. Uber told Bloomberg that its cancellation process “follows both the letter and the spirit of the law” and claimed customers can cancel in 20 seconds or less. The FTC has be ...

David Tepper's Appaloosa Management continues piling into Lyft as the company stages a comeback for the ages.David Tepper is a billionaire hedge fund manager known for founding the Miami-based investment firm Appaloosa Management. Back in September, he sat down for an interview with CNBC during which he expressed an outsized bullish stance on investing in China. Naturally, his comments led many investors to speculate which Chinese stocks the acclaimed investor may like.Well, thanks to 13F filings, investors ...

In Brief Uber is expanding its fleet of gig workers and creating a new category: AI annotation and data labeling.The ride-hailing company has started hiring contractors for a new AI and data labeling division called Scaled Solutions. These workers complete projects for Uber’s internal business units but are also serving outside customers including self-driving vehicle company Aurora Innovation and video game developer Niantic, according to reporting from Bloomberg. Uber has started recruiting contractors i ...