News

Uber to Appeal Operating Ban in London

Transport For London (TFL) bans Uber from operating in the city’s busy streets, Uber’s new CEO Dara Khosrowshahi, to meet with the commissioner of TFL, Mike Brown.

TFL stated that Uber is not “fit and proper” to operate in their city, and has then rejected the company’s request for renewal of its operating license. Uber’s license expires on September 30, but it can still operate until the appeals process, which has not yet started, is over.

Khosrowshahi stated in a note sent to the company’s workers that they will appeal the decision, admitting that having a bad reputation really did come with high costs. He added, “It really matters what people think of us, especially in a global business like ours.”

Aside from the impending ban, Uber is also facing an employment tribunal. They are discussing whether the drivers under Uber are self-employed or work for the company. As of present, a decision has not yet been made. In the possibility that the tribunal deemed that the drivers are employed by the company, that would mean that they are entitled to company benefits.

Neither Khosrowshahi nor Brown disclosed any information about where or when their meeting will take place.

Lyft To Enter Market

lyft phone app
Lyft app shown on a phone screen.

Another international taxi company, Lyft, is looking at entering the London Market after the complications recently faced by Uber.

Lyft has already been setting up meetings with both the City Hall and TFL regarding the possibility of it stepping up to Uber’s vacated spot.

The company has been researching about the possibility of entering the London Market, and due to the freedom of information, it has been detected that Lyft has been pushing for a license in London since last year, way before the Uber ban was made.

According to analysts, if Lyft does get in, especially before Uber finishes making its appeal, the former will still end up getting a portion of London’s Market even if the latter end up getting a renewed operating license. Considering that the appeals process might end up going on for a long time, Lyft will have time to accustom London citizens about their service. Giving out promotional deals – lower prices and specials – can also help on swaying the market towards staying with them for the long haul.

HQBroker is here to give you a daily news roundup about forex, commodities, technologies, automobiles, and the economy. You can open an account now and keep yourself updated with latest market news.

Leave a Reply