Just Eat Takeaway shares rise as ING predicts 2023 profit jump

Just Eat Takeaway (AS:TKWY) shares climbed towards the top of the pan-European Stoxx 600 on Monday after analysts at ING said they expect the Amsterdam-listed food delivery service to post strong returns in 2023. In a note to clients, the analysts predicted that Just Eat may report “quite significant profit” this year, citing the impact …

‘It’s not fair’: Businesses frustrated with partnership between LCBO and Uber Eats

Giuseppe Marchesini, the owner of a restaurant in Little Italy, is worried about how the alcohol-delivery partnership between the LCBO and Uber Eats will impact his bottomline. He said it is unfair, given that his business and others have not fully recovered from the COVID-19 pandemic. “That’s another competitor and that’s a big competitor,” Marchesini …

NYC COULD EASE ITS 20% DELIVERY FEE CAP

New York City could loosen its limits on the fees third-party delivery companies charge restaurants. Under a bill sponsored by 17 New York City Council members, providers would be able to charge restaurants more than they’re currently allowed to for things like marketing and promotions. Restaurants could opt in to the additional fees. The existing …

Uber Eats has to pay Chicago $10 million for listing restaurants without permission

Uber Eats agreed to pay the city of Chicago $10 million as a legal settlement for listing Chicago restaurants in both Uber’s and Postmates’ apps without the restaurants’ consent, according to reporting from the Chicago Tribune on Dec. 5. The legal agreement is the result of a two-year investigation into Uber’s practices and the company was found …

Uber Eats ‘misled’ SA on multi-store deliveries – but this township app has figured it out

Uber Eats doesn’t offer food from different restaurants in a single order, even though it recently misled South Africans into believing it does, ruled the country’s Advertising Regulatory Board (ARB). Meanwhile, users of a township delivery service founded in Hammanskraal have been enjoying multi-store deliveries over weekends. Uber Eats recently aired a television advert which …

Is the Uber, Lyft and gig economy battle over workers nearing its end game?

Proposed Department of Labor rules stop short of classifying Uber and Lyft drivers as employees. But the Biden administration’s pro-worker bias has analysts wondering what may come next in the battle over the gig economy and union momentum in the U.S. workforce. In a worst-case scenario, costs could rise as much as 30 percent for …

Federal gig worker proposal tanks Uber, Lyft and DoorDash stocks

The stock prices of Uber, Lyft and DoorDash slid on Tuesday after the Department of Labor announced proposed changes to how workers should be classified. The prospective guidance is intended to “combat employee misclassification,” the federal agency said in a statement. Soon after, Uber’s share price dropped by more than 10% to $24.61, while Lyft’s tanked more than …

Seattle reaches $3.3M settlement with Uber Eats over gig worker pay violations

The Seattle Office of Labor Standards announced Thursday it reached a settlement worth more than $3.3 million with Uber Eats for alleged violations of the Gig Worker Premium Pay Ordinance. The ordinance requires food delivery companies like Uber Eats to pay their workers additional compensation called “premium pay” for delivery orders with pick-up and drop-off …

Uber & Lyft Crater On Biden Proposal That Could Lead To Employee Status For Millions Of Gig Workers

Shares of Uber and Lyft tumbled on Tuesday, falling by double digits and adding to the market’s gloom, after the US Department of Labor announced a proposed rule change that would change the way that it determines if workers can be classified as employees or independent contractors.  The Department of Labor said in a statement that it believes …

In Major Win for Gig Workers, Uber Agrees to Pay New Jersey $100 Million for Mischaracterizing Drivers as Contractors

Uber may have built its hailing empire, in part, by notoriously skirting past local laws and regulations, but at least one state’s finally forcing the company to pay up. On Tuesday, Uber agreed to pay New Jersey $100 million in back taxes over claims the company misclassified thousands of drivers as independent contractors between 2014-2018. That mischaracterization, according …