MEXICO CITY - Mexico on Monday detailed plans to withhold tax from drivers for ride-hailing and food delivery firms such as Uber Technologies Inc and Rappi, but China’s Didi said it would not take part in the arrangement, sparking friction within the industry.
The monthly value-added tax withholding rate will be 8% and the income tax rate will range from 3% to 9% once the measures are implemented on June 1, Uber said. Uber has mostly successfully beaten back attempts around the world to make it treat drivers as employees, arguing that its main business is a platform that brings riders and drivers together.
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Mexico unveils plans to withhold taxes from Uber and other driversMexico's Finance Ministry on Monday laid out plans to withhold taxes from d... 'And badly needed to increase public revenues' yeah to fund their stupid and useless socialist agenda. The_LCDC 🤣🤣🤣🤣🤣🤣🤣
Source: Reuters - 🏆 2. / 97 Read more »
Uber Stock’s Plunge Is Blemish on IPO MarketUber’s stock fell 11%, in another setback for the highest-profile company to go public in years and threatening to cast a chill over the IPO market. Good. Buying it all the way down. (With no 6 month holding period LOL) Ouch That's it Uber is history! Going down
Source: WSJ - 🏆 98. / 63 Read more »
Penn State professor moonlighting as Uber driver accused of kidnapping, harassing two womenThe man allegedly locked the doors and told the women 'you're not going anywhere,' according to a criminal complaint. Look like Michale Blackson Uber has become a pathway for predators!
Source: NBCNews - 🏆 10. / 86 Read more »
Uber faces a long road to profitability — if it gets there at allUber has huge ambitions, but it burns through $2 billion a year and hasn't indicated when it expects to make a profit. On 1/21/17, G-d gave me a one word answer to my prayer as to when people would know my Panoply was truly of him, his one word answer 'soon', as stated prior I've never asked when soon meant. jewishtaskforce chabad No es bueno. This unicorn stinks.
Source: latimes - 🏆 11. / 82 Read more »
Questions Persist About About Uber’s Profits—And Its Stocks Fall FurtherWhen the market closed, Uber shares were trading well below the original IPO price. Fake news Uber sucks. They rip off their “independent contractors.” And Travis is the lamest of silicon valley’s tragically unhip.
Source: Forbes - 🏆 394. / 53 Read more »
Uber and Lyft Get Creative With Numbers, but Investors Aren’t Blind to the LossesUber, Lyft and other big startups have touted their new business models that disrupt old industries but lose historic amounts of money. To try to win over investors, they have also come up with unusual alternatives for measuring their performance. So far, investors aren’t buying it. ENRON style of accounting ! no, it's not there yet. This is the wizard of cumulative money
Source: WSJ - 🏆 98. / 63 Read more »
Uber underwriters worried about the IPO deployed unusual 'naked short' tactic to support the stockUber underwriters deployed an unusual tactic, known as a 'naked short,' to provide extra support for the stock ahead of the IPO, four people with knowledge of the move said Proverbs 6 12A troublemaker and a villain, who goes about with a corrupt mouth, 13who winks maliciously with his eye, signals with his feet and motions with his fingers, 14who plots evil with deceit in his heart— he always stirs up conflict. 15 No surprise with valuations inflated and private investors already taking most of the value and nuthin left for the ordinary investor. sabzsgizo willoe_tee the strategy investment bankers used to support UBER shares. But sellers outnumbered buyers
Source: CNBC - 🏆 12. / 72 Read more »
Beyond Meat shares spike another 14%, leaving Uber in the dust after IPOShares of Beyond Meat, which makes plant-based meat substitutes, surged more than 14% on Tuesday, adding to their stellar start in the public market. Wonder if those kind of percentage moves up everyday gives confidence to regular investors. If so, they might make a mistake paying too high a price. LoL - Uber Uber IPO once again showed there's nothing sure in the market. The biggest startup yet poor performance on Wall Street.
Source: CNBC - 🏆 12. / 72 Read more »
Here is what Uber needs to do to win over Wall StreetUber shares rose on Tuesday for the first time since a dud of an initial public offering. But for Uber to be a long-term hit with investors, the company still has to do a lot to prove it can be profitable. I LOVE JULIA ROBERTS I THOUGHT SHE WAS A DEAHBO A FEW YEARS AGO voters in Pennsylvania 12th district will pick a new representative Dow rises more than 200 points, posts best day in a month to claw back some of Monday drop.
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Uber’s car-wreck IPO could change Wall Street’s thinking about its ‘unicorns’Uber was viewed as the ultimate “unicorn,” a term for venture-funded companies with private valuations higher than $1 billion. But now the public market has spoken, and its judgment is harsh. More from columnist hiltzikm here: hiltzikm U think the early investors who r cashing out give a $!) what the suckers in the 'public market' think?! Or the founders?! ponziplay hiltzikm few things bring me more joy than seeing smarmy accredited investors take it dry
Source: latimes - 🏆 11. / 82 Read more »
Uber drivers are contractors, not employees, U.S. labor agency saysA U.S. labor agency has concluded that ride-hailing company Uber Technologies In... The gig economy business model is bullshit and is tantamount to slave labor. Quit letting them get away with this. Uber, are yet to make a profit. Don't drop out of school for Uber!
Source: Reuters - 🏆 2. / 97 Read more »