Uber and Lyft take different roads in search of profit
Saturday, February 8, 2020, 9:07 AM
UBER.N and LYFT.O, the two leading U.S. ride-hailing companies, are on divergent paths as Uber pours money into money-losing side businesses while smaller rival Lyft focuses on moving people around. Uber shares shot up 9% on Friday after the company said on Thursday it could achieve a measure of company-wide profitability in the fourth quarter of 2020, a year ahead of a previous target.
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Uber tests letting some California drivers set their own fares
Wednesday, January 22, 2020, 1:12 PM
Uber said it is testing a feature that allows some drivers in California to set their own fares, hoping the change will help it show that its drivers are independent contractors rather than employees under state law. Uber drivers ferrying passengers from airports in Santa Barbara, Palm Springs and Sacramento can now charge up to five-times the fare set by the company, Uber said.