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DOJ reportedly investigating Uber's 'Greyball'

AP File

The Department of Justice opened a criminal probe into Uber's use of software, called "Greyball," to evade law enforcement, Reuters reports, citing anonymous sources.

Last week, Portland's transportation office published a report spotted by Bloomberg revealing an inquiry, but the company has now received a subpoena from a Northern California grand jury for certain documents, according to Reuters. Uber declined to comment.

Greyball: Uber's program, which involves manipulating what particular users see in its app, was uncovered by the New York Times in March, and the company has since said it will no longer use the software for this purpose. Uber has admitted that it used its Greyball technique on 17 rider accounts of mostly government officials in Portland during a two-week period in late 2014, before the city had implemented regulations for ride-hailing.

Go deeper

Courtenay Brown
Updated 38 mins ago - Economy & Business

2020 was the economy's worst year since 1946

Source: FRED; Billions of chained 2012 dollars; Chart: Axios Visuals

One of the last major economic report cards of the Trump era lends perspective to the historic damage caused by the pandemic, which continued to weigh on growth in the final quarter of 2020.

By the numbers: The U.S. economy grew at a 4% annualized pace in the fourth quarter, a sharp slowdown in growth compared to the prior quarter. For the full year, the economy shrank by 3.5% — the first annual contraction since the financial crisis and the worst decline since 1946.

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Dion Rabouin, author of Markets
2 hours ago - Economy & Business

How GameStop exposed the market

Illustration: Eniola Odetunde/Axios

Retail traders have found a cheat code for the stock market, and barring some major action from regulatory authorities or a massive turn in their favored companies, they're going to keep using it to score "tendies" and turn Wall Street on its head.

What's happening: The share prices of companies like GameStop are rocketing higher, based largely on the social media organizing of a 3-million strong group of Redditors who are eagerly piling into companies that big hedge funds are short selling, or betting will fall in price.

Go deeper (2 min. read)Arrow
Caitlin Owens, author of Vitals
3 hours ago - Health

Who benefits from Biden's move to reopen ACA enrollment

Photo: Chip Somodevilla/Getty Images

Nearly 15 million Americans who are currently uninsured are eligible for coverage on the Affordable Care Act marketplaces, and more than half of them would qualify for subsidies, according to a new Kaiser Family Foundation brief.

Why it matters: President Biden is expected to announce today that he'll be reopening the marketplaces for a special enrollment period from Feb. 15 to May 15, but getting a significant number of people to sign up for coverage will likely require targeted outreach.

Go deeper (<1 min. read)Arrow