Lyft Archives - Page 2 of 8 - Maritime Shipping News

Biden administration revising rule on independent contractors

11 October 2022

The Biden administration has unveiled a proposed rule that could raise costs for trucking companies and gig transportation, such as Uber and Lyft, that rely on independent contractors.

The 184-page proposed rule, revealed by the U.S. Department of Labor’s Wage and Hour Division (WHD) on Tuesday, reinstates guidance similar to that used under the Obama administration that is considered less favorable to classifying workers as independent contractors.

“Through our enforcement in the wage and hour...

https://www.freightwaves.com/news/biden-administration-revising-rule-on-independent-contractors

FTC to crack down on ‘unfair, deceptive’ gig company practices

16 September 2022

The Federal Trade Commission is throwing down the gauntlet against gig companies like Uber, Lyft and DoorDash.

The FTC on Thursday released a policy statement that made clear the agency’s commitment to protect gig workers from “unfair, deceptive and anticompetitive practices.” While the statement does not have any legal power, it mentions a laundry list of practices that the FTC is looking to combat, including:

Misrepresentations of the flexibility of gig work
Diminished bargaining power
Reducing...

https://www.freightwaves.com/news/ftc-to-crack-down-on-unfair-deceptive-gig-company-practices

Lyft targets in-vehicle advertising with new business unit

8 August 2022

Riders getting into Lyft vehicles may soon be greeted with advertising as the company has confirmed it will start rolling out in-vehicle and rooftop displays.

The advertising push comes as the rideshare business has jumped in recent months and as competitor Uber (NYSE: UBER) targets $1 billion in advertising revenue by 2024. Lyft’s efforts will come through the newly formed Lyft Media business unit and could offer drivers a cut of the revenue pie, the Wall Street Journal reported.

“We hope to...

https://www.freightwaves.com/news/lyft-targets-in-vehicle-advertising-with-new-business-unit

Lyft shares rise as firm reports strong Q2 active rider numbers

4 August 2022

Just a few days after rival Uber reported record revenue, causing the stock to pop, Lyft on Thursday also gave investors reason for optimism.

The ride-hailing giant reported earnings for the second quarter after market close, and active riders appear to be on the rebound.

The 19,860,000 active riders the company recorded in Q2 represented a 15.9% increase from Q2 2021, signaling a potential rebound from its pandemic doldrums.

Shares of Lyft (NASDAQ: LYFT) jumped nearly 4% in post market trading on...

https://www.freightwaves.com/news/lyft-shares-rise-as-firm-reports-strong-q2-active-rider-numbers

Massachusetts court rejects Uber- and Lyft-backed effort to keep gig workers independent

14 June 2022

There will be no November ballot initiative in Massachusetts to maintain the independent contractor status of app-based delivery drivers.

In a decision that many observers had expected, the Massachusetts Supreme Judicial Court said the initiatives backed by Uber and Lyft had failed to pass the state’s requirement that a ballot initiative “must contain only related or mutually dependent subjects.”

The effort in Massachusetts mimicked the Prop 22 vote in California in November 2020, which aimed to...

https://www.freightwaves.com/news/massachusetts-court-rejects-uber-and-lyft-backed-effort-to-keep-gig-workers-independent

Politicians demand answers from gig economy companies on driver safety

2 June 2022

Sign for Uber and Lyft riders in airport

A group of U.S. senators and representatives from Massachusetts have written letters to the CEOs of Uber, Lyft, Instacart, DoorDash and Grubhub, demanding answers to questions regarding the health and safety of their app-based workers.

The letters, dated May 31, request answers to seven questions by June 21. Most of the questions focus on the health and safety of the workers, but the group also requested an answer to whether app-based delivery workers are required to sign an arbitration...

https://www.freightwaves.com/news/politicians-demand-answers-from-gig-economy-companies-on-driver-safety

Massachusetts gig worker ballot initiative faces skeptical judges

9 May 2022

A ballot initiative that would define gig drivers for companies like Uber may have trouble getting on the ballot in Massachussets.

The Massachusetts gig worker initiative, patterned after California’s Prop 22, may not make it to the ballot in November after all.

Two separate news reports on a court hearing held last week regarding the initiative both suggested that the state’s highest court, the Supreme Judicial Court was skeptical that the initiative, backed by Uber, Lyft and DoorDash, should qualify for the ballot. A report in Bloomberg Law described the judges who heard the argument as “wary.” A Reuters report from the...

https://www.freightwaves.com/news/massachusetts-gig-worker-ballot-initiative-faces-skeptical-judges

Lyft stock falls sharply in post-market trading despite revenue beat

3 May 2022

Ride-hailing giant Lyft reported stronger-than-expected Q1 2022 earnings results after the bell on Tuesday. Lyft’s revenue of $875.6 million in Q1 beat the analyst consensus estimate of $845.5 million as rideshare ride volumes reached a new COVID-era high. The company’s Q1 2022 revenue of $875.6 million represents an improvement of 44% over Q1 2021’s $609 million.

Despite the revenue beat, shares of Lyft (NASDAQ: LYFT) were down sharply in the early hours of post-market trading. The stock...

https://www.freightwaves.com/news/lyft-stock-falls-sharply-in-post-market-trading-despite-revenue-beat

Viewpoint: The importance of a holistic approach to last-mile delivery

25 March 2022

This commentary was written by Arshaad Mirza, co-founder of Delivery Solutions. The views expressed here are solely those of the author and do not necessarily represent the views of Modern Shipper or its affiliates.

The retail landscape is rapidly changing due to the consumer’s desire for speed and instant gratification. More specifically, last-mile delivery has evolved as a result of the paradigm shift caused by food delivery and Amazon Prime, which heightened people’s perception of delivery....

https://www.freightwaves.com/news/viewpoint-the-importance-of-a-holistic-approach-to-last-mile-delivery

No holiday for delivery firms as fuel prices remain elevated

18 March 2022

As fuel prices have surged in the U.S., last-mile delivery companies have been put in a precarious position. Some have tried to implement surcharges to cover the added costs, while others already had surcharges in place for this scenario. But with fuel prices doubling in some areas in less than two weeks’ time, even surcharges will take time to recoup some of that increase.

In the last week, Uber (NYSE: UBER) and Lyft (NASDAQ: LYFT) have announced surcharges, and DoorDash (NYSE: DASH) has...

https://www.freightwaves.com/news/no-holiday-for-delivery-firms-as-fuel-prices-remain-elevated

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