UBER
Karnataka, Uber discuss passenger safety, regulatory issues and urban transport
Karnataka Minister Priyank Kharge recently met with the Uber India Public Policy team to discuss urban mobility. The discussions emphasized passenger safety, regulatory issues, and improvements in urban commuting services. Kharge mentioned that further engagement with ride-hailing platforms will enhance public transportation. Additionally, initiatives like the Bengaluru Urban Mobility Mission are underway to address traffic management and safety.
Why Goldman Sachs, JPMorgan, Uber are restricting AI access for employees
Goldman Sachs recently restricted most of its employees from using Anthropic’s Claude Code and Microsoft’s GitHub coding tools,Bloomberg reported, citing an October internal guidance. The American investment banking company had earlier allowed employees across departments to experiment with these tools to automate routine tasks, analyse trading activity, and create content.
Blinkit Ambulance is no longer entirely free! Deepinder Goyal introduces Rs 2,500 charge; check which services remain free
Deepinder Goyal has announced a Rs 2,500 fee for non-emergency Blinkit Ambulance transfers, while emergency services will remain free. The move comes after the service handled around 42,000 cases in two years, including nearly 20,000 emergencies. Goyal also outlined plans to expand the ambulance network to major Indian cities.
Blinkit Ambulance to charge Rs 2,500 for non-emergency trips; emergency service will stay free: Deepinder Goyal
Goyal said Blinkit Ambulance has served about 42,000 cases in the last two years, of which roughly 20,000 were emergencies. None were charged but a growing share of bookings were for routine checkups, hospital visits and hospital-to-home transfers, trips that “an Uber or private transport could have handled just as easily,” he said.
US stock market stages big rally today: Why is Dow Jones surging? Dow jumps 1,100 points as S&P 500 and Nasdaq turn green, with healthcare stocks at the centre
US stock market today: US stocks rallied sharply on Wednesday after Democrats won control of Congress. The Dow Jones jumped 1,143 points, while the S&P 500 and Nasdaq also posted strong gains. Healthcare stocks attracted fresh buying, with Molina Healthcare, Centene and HCA Healthcare rising around 6% to 7%. Amazon and solar stocks also climbed, while Nvidia shares moved lower.
Uber's profit forecast disappoints as driver shortages, Middle East conflict hurt
The company is responding by spending more to recruit and retain drivers, a cost that will be watched closely because it comes as the company also funds a major push into autonomous vehicles and a string of acquisitions.
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Why are companies restricting AI access to employees
Goldman Sachs, Uber, JPMorgan and Nvidia are some of the global firms that have restricted their employees’ usage of AI tools
ETtech Explainer: Food delivery, ride-hailing firms differ on gig worker welfare levy calculation
Food delivery and quick-commerce companies such as Zomato and Swiggy are seeking a levy based on the value of transactions facilitated through their platforms, while cab and bike-taxi aggregators such as Uber and Rapido want it to be calculated on their own turnover rather than the total value of rides facilitated.
Premji's deeptech bets; Razorpay gets IPO nod
Happy Thursday! Premji Invest is stepping up its bets on defence and aerospace manufacturing.This and more in today’s ETtech Morning Dispatch.
Global markets were already fragile. Big AI bets could break them
Investors flocked to bonds. Yields, which move inversely to price, fell from multidecade highs, with the benchmark 10-year Treasury, which guides borrowing costs globally, falling almost 20 basis points on October 22, its biggest daily fall since early 2023.
Deep use cases vault India to ChatGPT’s top global market: OpenAI's India MD
During a visit to India last year, the ChatGPT maker’s cofounder Sam Altman said that India was the fastest growing market for the frontier lab and was already the second largest in terms of users globally. Market estimates had earlier put the India user base at 100 million.
From bikes to billions: Rapido’s gross order value quadruples in two years to $4 billion
The Bengaluru-based company is averaging around 8.3 million orders a day across its services, making it one of India’s largest consumer internet platforms by transaction volumes. Ride-hailing continues to comprise more than 95% of the company’s daily average orders.
Grok bot users hit limits faster as Elon Musk warns of ‘unsustainably high’ AI agent costs: What happens next?
Grok Bot usage limits: Elon Musk says the cost of running Grok Bot has become unsustainable relative to its revenue as users report hitting weekly usage limits faster. Despite 800,000 paid weekly users, questions remain about the service's costs, pricing and future limits.
Rivian says it's on track for $250 million Uber funding by year-end, R2 demand strong
The Uber funding and strong R2 sales are crucial to Rivian's push to narrow heavy losses and cash burn while it funds a bet on self-driving technology and leans on its joint venture with Volkswagen, which has become a major source of revenue.
Amazon cloud business accelerates but shares drop on profit miss
Amazon experienced a notable decline of over seven percent in its shares following the release of its quarterly earnings, which failed to meet analyst forecasts. The tech giant reported a total revenue of $201.9 billion, revealing struggles across multiple sectors. Nonetheless, the growth of its AWS cloud division stood out as a silver lining.
Doordash-Instacart deal: Instacart stock price slips, Doordash share price jumps at Wall Street. Key takeaways
Doordash-Instacart deal will reportedly reshape the grocery delivery market. DoorDash, founded in San Francisco in 2013, began delivering groceries in 2020 and Instacart, founded in 2012, specializes in grocery and convenience store delivery in the U.S. and Canada.
Uber rolls out encrypted trip video recording for drivers to resolve disputes: What changes for riders?
Uber has introduced encrypted trip video recording to help resolve disputes, with footage accessible only to law enforcement agencies that formally approach the company. The ride-hailing platform has also strengthened driver safety measures and expanded earning opportunities through intercity bike rides, parcel deliveries and additional services.
DoorDash strikes $17 billion deal for US rival Instacart in bets on grocery delivery
DoorDash is set to make waves in the grocery delivery market with its planned acquisition of Instacart, valued at approximately $17 billion. This move underscores the intense competitive landscape driving businesses toward expansion through strategic mergers. The increasing scrutiny over gig worker treatment and rising operational costs further fuel this trend. While Instacart's shares have recently seen a boost, DoorDash has faced share price challenges this year.
FTC orders Walmart, Delta and others to share how they use personal data to set prices and pay
"We intend to scrutinize the opaque methodology that some companies in these industries may be using to determine how much consumers pay or how much gig workers are paid for the same product or service," FTC Chairman Andrew Ferguson said in a statement.
Jay-Z to headline next year's Super Bowl LXI halftime show: What is the rapper’s net worth
Jay-Z's impressive net worth of $2.8 billion stems from a mix of his music career and savvy business moves, including his involvement with Roc Nation and investments in Tidal and D’Usse. As he prepares to headline the Super Bowl LXI halftime show in February next year, his luxury champagne and fashion lines further highlight his influence across entertainment and spirits, showcasing an entrepreneurial spirit that's hard to match.
Delivery Hero raises full-year forecast again on strong Q3 growth
The company now expects gross merchandise value (GMV), a common metric for delivery firms measuring the total value of all goods sold through the market place, to grow 10%-12% this year, up from a previous forecast of 9%-11%.
‘One of the most terrifying experiences’: Gurugram woman accuses Uber driver of holding her arm, shutting the window, verbally abusing her and following her
A Gurugram woman accused an Uber driver of demanding an inflated fare after her airport ride. The driver reportedly locked her luggage in the car until she paid the higher fare he requested. Following the confrontation, the driver allegedly followed her to her home, verbally abusing and threatening her. She raised concerns about Uber's safety support being unavailable during the incident.
Explained: Microsoft's buyout offer to about 60,000 employees
Staff on select teams in the US, Canada, India, and Britain, at the level of vice president and below. Some groups are excluded, including some data centre staff and employees in sales and marketing. Chief people officer Amy Coleman told employees in a memo that the offer is meant to create “greater flexibility” for staff.
DoorDash in talks to buy Instacart in roughly $17 billion deal
DoorDash is in advanced talks to acquire Instacart in a deal that could value the grocery-delivery platform at about $17 billion, a source familiar with the matter told Reuters on Monday.
Microsoft buyouts: MSFT stock price jumps but why is tech giant offering massive 'voluntary exit' package for 60,000 employees, including VP level? Check which countries workforce impacted
Microsoft, Amazon, Alphabet and Meta are collectively on track to pour roughly $700 billion into AI data centers, chips and computing infrastructure this year alone.
SC to hear bike taxi stakeholders after Nov 16; riders’ body says Centre backs operations
The case stems from Karnataka government's appeal against a High Court ruling that upheld the legality of bike taxi aggregators operating in the state. The state has engaged Solicitor General Tushar Mehta to represent its case before the Supreme Court.
Uber airport cab driver allegedly demands double the app fare, asks passenger to pay Rs 1,780 instead of Rs 885 and seek a refund later
In a surprising incident, a passenger reported that an Uber driver tried to charge almost twice the fare shown on the app following an airport pickup. The driver reportedly presented a screenshot depicting the inflated charge while suggesting a cash payment method. However, after reaching out to Uber support, the passenger confirmed their fare.
inDrive taps Pony.ai and Nvidia to test robotaxis in one of the world's coldest capitals
The ride-hailing company will explore driverless rides in Kazakhstan without building its own self-driving technology, as platforms increasingly leave the technology to partners and focus on connecting riders with cars.
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