Jan 10, 2020

Uber to stop operating in Colombia following court order

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Uber will halt its operations in Colombia at the end of the month, after a judge found the transportation company violated the country's competition rules, Reuters reports.

Why it matters: Uber is likely to look for ways to get back into Columbia, though this comes as a blow to a business that is trying to show investors it can turn a profit and continue growing, especially in regions like Latin America. Uber called the decision "arbitrary" in a statement, and said it violated its right to due process, per Reuters.

Go deeper: Uber rolls out changes to California ride-hailing in wake of new law

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Uber sells India food delivery business to rival Zomato

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Uber has agreed to sell its food delivery business in India to rival Zomato in an all-stock deal that gives Uber a 9.99% stake in the combined business.

Why it matters: Uber is under growing pressure from investors to figure out a path to profitability and cut loose anything that won't help it reach that goal.

Go deeperArrowJan 21, 2020

Uber's AB5-related changes haven't been great for California riders

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Prices and wait times have gone up for Uber passengers since the ride-hailing began making changes last month because of a new state law that makes it harder to classify workers as independent contractors, Uber CEO Dara Khorowshahi told analysts on Thursday.

Why it matters: Uber and other companies like Lyft, Postmates, Doordash have aggressively pushed back on the new law, known as AB5, as it threatens their business models.

Uber's 2019 Q4 was slightly better than analyst expectations

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Uber posted its fourth quarter results on Thursday, slightly exceeding analyst expectations, giving its stock a small price bump after market close.

Why it matters: Uber has not only been under growing pressure to show it can turn a profit sooner than later, but the company is facing new regulations in California that threaten its classification of drivers as contractors, instead of employees.