Denver police arrest Uber driver after passenger is shot dead

DENVER - A driver with the ride-sharing service Uber was arrested on Friday for suspicion of first-degree murder after Denver police said he fatally shot a passenger in his vehicle.

Michael Andre Hancock, 29, was being held without bond in the Denver County jail pending the formal filing of charges, according to jail records. It was unclear if he had legal representation.

According to a Denver Police probable cause affidavit, on Friday morning a man later identified as Hancock told a motorist on the side of a highway that he had just shot a rider who tried to attack him.

Police found a sedan stopped perpendicular to traffic on a ramp and a man with gunshot wounds lying on the floor board of the front passenger seat, the affidavit said.

The Denver Medical Examiner’s Office identified the dead man as Hyun Kim, 45.

Police said they removed a semi-automatic pistol from Hancock’s waistband, and later recovered 10 spent 40-caliber cartridges on the shoulder of the highway. Hancock was arrested, but police did not provide further details.

Uber said in a statement that it was “deeply troubled” by the arrest of Hancock, a contract driver with the company for nearly three years.

“Our thoughts are with the families of those involved. The driver's access to the app has been removed, and we will continue working closely with police,” Uber said.

San Francisco-based Uber Technologies Inc has faced criticism over its vetting of drivers.

Last November, the Colorado Public Utilities Commission fined Uber $8.9 million for allowing 57 people to drive for it although they lacked valid driver’s licenses or had committed other offenses that should have disqualified them.

source: news.abs-cbn.com

Uber gives green light for sale of stake to Japan's SoftBank

NEW YORK - Scandal hit ride-sharing company Uber on Sunday announced a deal to sell a stake to Japan's SoftBank, as the firm looks to turn a new page ahead of its planned IPO by 2019.

The move was unveiled shortly after reports emerged that its former CEO Travis Kalanick and an influential investor had buried the hatchet in a long feud that paved the way for the acquisition.

"We've entered into an agreement with a consortium led by SoftBank and Dragoneer on a potential investment," a company statement said in a statement Sunday evening.

"We believe this agreement is a strong vote of confidence in Uber's long-term potential," it added.

"Upon closing, it will help fuel our investments in technology and our continued expansion at home and abroad, while strengthening our corporate governance."

But SoftBank refused to confirm the news when contacted by AFP and said it was not planning to issue any statement on Sunday.

The Japanese group, founded by billionaire Masayoshi Son, expressed an interest several months ago in investing around $1 billion in Uber for a stake of at least 14 percent.

But the deal was threatened by conflict between Kalanick and US venture capital firm Benchmark.

The latter filed a lawsuit against Kalanick, accusing him of fraud, breach of contract and of plotting to manipulate the board of directors to allow him to return as CEO following his resignation in June.

The two parties reportedly reached an agreement on control of board seats, which included Benchmark putting its lawsuit on hold -- while Kalanick will allow directors to vote on his future appointments to the three seats he oversees.

A deal would be positive for Uber, which is looking ahead to the future in the wake of recent repeated scandals, among them workplace sexual harassment allegations.

'GORILLA' INVESTOR

Meanwhile, SoftBank has been diversifying through investment for several years, and has ventured into sectors outside its core mobile technology business -- completing deals with the likes of French robotics firm Aldebaran and e-commerce with Chinese giant Alibaba.

It is sending tremors through the tech world with a its massive new Vision Fund -- a venture capital fund with $100 billion coffers intended for startups and expected to dominate the industry so thoroughly it's playfully referred to as a "gorilla."

"SoftBank shows a remarkable amount of bravery, confidence and optimism to look to apply this much money in technology," said Bill Maris, who started Google Ventures nearly a decade ago and runs his own California-based investment firm Section 32.

"I can't say it's a wrong bet, if you think the trends in tech will continue in the future. I would be much more worried if SoftBank was saying tech is dead."

Some investors worry that the Vision Fund will buy into startups at high prices, overinflating the market, while crowding out other investors and prolonging the time it takes for young companies to go public.

SoftBank has outlined plans to focus on late-stage investments when startups are more established, and on investments of at least $100 million.

source: news.abs-cbn.com

Uber hires Expedia boss Khosrowshahi as CEO

SAN FRANCISCO, California - Uber hired Expedia boss Dara Khosrowshahi as its new chief executive late Tuesday, in the hopes he can steer the ride-sharing service away from the string of controversies it has faced in the past year.

Khosrowshahi will be at Uber's headquarters in San Francisco on Wednesday for an "all-hands" gathering to meet workers at the embattled company.

"We are delighted to announce that Uber's Board has voted unanimously to appoint Dara Khosrowshahi to be our new CEO," Uber executives said in an email sent to employees late Tuesday.

Khosrowshahi is credited with turning Expedia into a global travel services behemoth, winning admiration from employees along the way.

Khosrowshahi replaces Uber co-founder Travis Kalanick, who was pressured to resign as chief of the leading smartphone-summoned ride service.

Kalanick was the driving force behind Uber, taking a spur-of-moment idea and turning it into the world's most valuable venture-funded tech startup.

But his brash personality and freewheeling management style, which some argue set a problematic tone at the company, made him a liability as well as an asset to the global ridesharing giant.

He stepped down as chief executive in June.

Khosrowshahi was 9 years old when he and his family immigrated to the United States on the eve of the Iranian Revolution, according to Uber.

Khosrowshahi is known as an experienced top executive, willing to speak his mind and to advocate for women getting equal pay and leadership opportunities.

"We're really fortunate to gain a leader with Dara's experience, talent and vision," Uber said in the message to employees.

ROUGH ROAD

Khosrowshahi will face challenges including conflicts with regulators and taxi operators, a cut-throat company culture, and board members feuding with investors over Kalanick.

Kalanick frequently recounts how the idea behind Uber was born, when he and a colleague were attending a technology conference in Paris in 2008 and failed to find a taxi on a cold night.

Uber now operates in hundreds of cities and more than 80 countries.

But the hard-charging style that helped Uber succeed also made Kalanick a target for critics.

He has borne responsibility for allegations of nasty workplace tactics and covert use of law enforcement-evading software.

Dents to Uber's image include a visit by executives to a South Korean escort-karaoke bar, an attempt to dig up dirt on journalists covering the company, and the mishandling of medical records from a woman raped in India after hailing an Uber ride.

The US Justice Department is investigating whether Uber broke American laws against bribing foreign officials to promote business interests, the company confirmed.

The US government earlier this year was reported to have launched an investigation into Uber for the use of secret software that enabled the company to operate in areas where it was banned or restricted.

FINANCES HUMMING

But despite the company's dented image, its financial engine still appears to be purring.

Earnings figures confirmed by AFP showed that adjusted net revenue was $1.75 billion in the second quarter, more than doubling from about $800 million in the same period in 2016.

Gross bookings at the service doubled as the number of trips climbed 150 percent from a year earlier.

The company's adjusted net loss fell nearly 14 percent to $645 million from the same quarter last year, Uber confirmed.

Meanwhile, Uber drivers have earned $50 million in tips since a gratuity option was added to the ride-sharing application in June.

Uber has also been investing in autonomous driving technology, and provoked a lawsuit from the former Google car unit now called Waymo that accused Uber of stealing trade secrets.

BOARDROOM TUMULT

Some mutual funds have reportedly marked down their stakes in Uber in a sign that months of scandal were taking a toll on the private company's value of some $68 billion.

Kalanick is asking for the dismissal of an investor lawsuit against him, calling it part of a personal attack aimed at sidelining him.

The Benchmark lawsuit filed in a Delaware court accused Kalanick of fraud, breach of contract and of plotting to manipulate the board of directors to allow him to return as CEO following his resignation in June.

But in a legal filing, Kalanick claimed that Benchmark "began secretly planning an effort to oust him" and "executed its plan at the most shameful of times" following the death of his mother in a May accident.

The first court hearing in the case is slated for Wednesday.

source: news.abs-cbn.com

Grab under fire for surge pricing, difficulty in booking

Ride-sharing company Grab defended its service after receiving complaints of surge pricing and booking difficulties from passengers. More from Jacque Manabat. - Business Nightly, ANC, August 24, 2017

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Uber earnings engine purrs despite bumpy road

SAN FRANCISCO - Uber's financial engine appeared to be purring despite its image being dented so badly its chief was pressured to resign.

Earnings figures first reported at news website Axios and confirmed by AFP showed that adjusted net revenue at Uber was $1.75 billion in the second quarter, more than doubling from about $800 million in the same period in 2016.

Gross bookings at the leading smartphone-summoned ride service doubled to $8.7 billion in the second quarter as the number of trips climbed 150 percent from a year earlier.

The San Francisco-based company's adjusted net loss fell nearly 14 percent to $645 million from the same quarter last year, Uber confirmed.

Meanwhile, Uber drivers have earned $50 million in tips since a gratuity option was added to the ride-sharing application in June.

Uber has been working to improve its relationships with drivers and riders after being hit with controversies that led to the resignation of founder and chief executive Travis Kalanick.

The company is still searching for a new chief as rumors swirl that Kalanick is orchestrating a return behind the scenes.

BOARDROOM TUMULT

Four mutual funds this week marked down their stakes in Uber by as much as 15 percent in a sign that months of scandal were taking a toll on the private company's value of some $68 billion, according to a report in the Wall Street Journal.

Kalanick is asking for the dismissal of an investor lawsuit against him, calling it part of a personal attack aimed at sidelining him.

A response last week to a lawsuit filed by early Uber investor Benchmark Capital said the litigation was part of a "shameful" effort to remove Kalanick from any role at the ridesharing giant.

The Benchmark lawsuit filed in a Delaware court accused Kalanick of fraud, breach of contract and of plotting to manipulate the board of directors to allow him to return as CEO following his resignation in June.

But in his response, Kalanick claimed that Benchmark "began secretly planning an effort to oust him" and "executed its plan at the most shameful of times" following the death of his mother in a May accident.

Kalanick argued that the lawsuit -- which has brought to light strains and infighting at the world's most valuable venture-backed startup -- should be dismissed and that the dispute should be settled in arbitration.

Kalanick said Benchmark sought to "silence and sideline" him and effectively ban him from any major decisions at Uber.

Benchmark has asked the court to bar Kalanick from tinkering with the Uber board in any way, arguing that the former CEO was trying to pack the board with loyalists to clear the way for his return.

Kalanick -- who had been the driving force behind Uber's massive global expansion, but whose brash style had made him a liability -- still holds a large voting stake in the company.

The pioneering company has been facing pressure to rein in a no-holds-barred management style led by Kalanick, 40, and to reform its work environment.

Kalanick's departure capped a rocky period for the global ridesharing giant, which has been roiled by disturbing reports of a cutthroat workplace culture, harassment, discrimination and questionable business tactics to thwart rivals.

source: news.abs-cbn.com

Grab launches instant messaging platform

MANILA - Ride-sharing service Grab on Tuesday launched an instant messaging platform to allow quick chats between drivers and passengers through the app.

GrabChat comes complete with commonly used template messages for drivers and passengers to enable safe communication between drivers and passengers, the company said.

“Many Filipino drivers and riders still rely on calls and text messages before a ride commences, either to help drivers locate passengers or inform drivers of a rider’s specific whereabouts," Grab’s country head Brian Cu said in a statement.

"GrabChat is part of making transport freedom a reality among Filipinos, as it provides an in-app communications solution to drivers and passengers, minimizing call and SMS charges,” he added.

An auto translate feature will be added to the service by the end of the year to allow regional travelers to communicate easily with local drivers.

GrabChat is currently applicable for GrabCar and GrabTaxi services and will be gradually rolled out this week for all Android and iOS users.

source: www.abs-cbnnews.com

Uber hit with record $11.4-M fine in Pennsylvania

Uber Technologies Inc. was fined a record $11.4 million on Thursday by a Pennsylvania regulator, which found that the ride-sharing service operated illegally in the state in 2014.

The fine was the largest imposed by the Pennsylvania Public Utility Commission, a spokeswoman said. Uber plans to appeal.

By a 3-2 vote, the PUC said the fine was justified by Uber's having operated without commission authorization from February to August 2014 and failure to respond to requests for information about its operations.

Uber's fine was reduced from the $49.9 million imposed in November in an initial ruling by two administrative law judges. The PUC's dissenting commissioners thought even the reduced $11.4 million fine was too high.

The PUC regulates transportation providers, including taxis that compete with Uber and rivals such as Lyft.

Uber spokesman Jason Post said the San Francisco-based company was "shocked" by the fine, which is more than 45 times higher than the $250,000 that Lyft paid in a similar case.

He said Uber plans to appeal its fine to a Pennsylvania state court.

The fine addresses one of many legal issues facing Uber, which has won many fans through its aggressive expansion but drawn ire from regulators concerned about driver and passenger safety, and riders upset over high prices.

PUC Commissioner John Coleman, a member of the majority, said the fine was needed to deter others from similar conduct.

He said it was reduced to reflect changes Uber has made to comply with state rules, and the few complaints that Uber has generated since winning a two-year "experimental" license in January 2015.

Uber argued that it did not qualify as a motor carrier or broker and thus did not violate the state's public utility code.

Pamela Witmer, one of the dissenting commissioners, called the fine "egregious" relative to sanctions in cases that, unlike Uber's, involved greater harms such as injuries and death.

Prior to Thursday, the PUC's highest fine had been $1.8 million, imposed in December against Hiko Energy LLC for deceptive marketing and billing practices.

source: www.abs-cbnnews.com