Uber Technologies Inc (NYSE: UBER) Increases Revenue As Pandemic Restrictions Ease

Uber Technologies Inc (NYSE: UBER) CEO recently stated that earnings for the company have gone up as more people want to move around due to COVID-19 restrictions easing. The company’s advertising sector had a $225 million revenue which surpassed its $100 million targets.

Uber is also making plans to offer taxi rides in San Francisco. This move comes after the company made a deal with Yellow Cab SF and Flywheel, which own an Uber-like Taxi service in the area. The deal will allow 1075 taxi drivers working for the company to access Uber customers. The deal’s pilot will start on August 5.

Uber is among companies that pay interns the highest salaries

Uber has also been listed among companies that pay most for internships in the U.S. This move is monumental as people still argue whether interns should be paid or be grateful for the experience. The review, published on Glassdoor, also relayed how most interns now prefer to work remotely.

Labor advocates oppose the new employment law

Meanwhile, the Governor of Washington signed a bill giving drivers for ride-sharing companies more rights while classifying them as independent contractors into law. The bill received support from the local branch of the Teamsters Union, Lyft Inc (NASDAQ: LYFT), and Uber. However, the national Teamsters Union and labor advocates were in opposition.

The bill gives Uber drivers a minimum pay rate that carries according to the state they operate in. However, it only worked when the drivers were actively offering services. The bill also gave them paid sick leave.

While these are significant developments for Uber drivers nationwide, critics point out that the law won’t give them health insurance or other benefits that a traditional worker is entitled to. It also prohibits Washington state cities from looking into and regulating these companies.

With the MLB lockout, Wander Franco became the wealthiest player. Furthermore, he had been less than a year in the major league service. Franco signed a $223 million extension of 11 years ago, at just 20 years old.

Franco, a young baseball player, has gained a lot of popularity in the game, even catching the attention of Nelson Cruz, his mentor.

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Published by Flavia Carruth

Hi, I am Flavia and have done my MBA with finance as specialization and a Bachelor in Economics with 4 years of experience as Financial Analyst in leading Software Firm. I have passion for article writing, report making and stock market Analysis.

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