Kia Kokalitcheva Feb 28, 2017
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Uber driver gives CEO a one-star rating

Uber's tense relationship with drivers for its affordable UberX service is well-documented, but even drivers for the company's high-end options are growing disappointed.

In a video recording of CEO Travis Kalanick riding in an high-end Uber Black car published by Bloomberg, the driver confronts Kalanick about the company's fare cuts, which Kalanick disputes. Fawzi Kamel has been driving for Uber since 2011, according to the report, and told Kalanick: "You changed the whole business. You dropped the prices."

The math: In 2012, Uber Black charged $4.90 per mile and $1.25 per minute in San Francisco, according to an old version of Uber's website Bloomberg checked. Today, the same service costs $3.75 per mile and $0.65 per minute. So it seems that while Kamal underestimates the cost—"How much is the mile now, $2.75?"—he is correct in that the prices have dropped since he started driving for Uber Black.

Kalanick says that Uber had to cut its costs to beat Lyft. "We have to; we have competitors; otherwise, we'd go out of business,'' Kalanick says. And then Kamal is dismissive of Lyft, Kalanick replies: "It seems like a piece of cake because I've beaten them. But if I didn't do the things I did, we would have been beaten, I promise."

Blame game: In perhaps the most jarring moment in the conversation, when Kamal told Kalanick that he "lost $97,000" and is "bankrupt" because of Uber's decisions, the CEO visibly loses his cool.

QuoteSome people don't like to take responsibility for their own shit. They blame everything in their life on somebody else. Good luck! — Travis Kalanick

Kamal gives Kalanick a one-star rating after the ride.

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Where Trump's steel and aluminum trade war will hit first

Note: Includes only products under the "Iron & Steel & Ferroalloy" and "Alumina & Aluminum & Processing" NAICS commodity classifications. Data: Census Bureau; Chart: Chris Canipe and Lazaro Gamio / Axios

The Trump administration has begun imposing tariffs on imports of steel and aluminum, but several countries are exempted temporarily until May 1, as shown in the chart above. The administration may still apply quotas on exempted countries to prevent a flood of foreign steel and aluminum in the U.S. market, per the White House.

Why it matters: After railroading past a number of his advisors, Trump announced the tariffs on imports of steel (at 25%) and aluminum (at 10%) earlier this month, citing national security concerns. But with the exemption noted above, the tariffs won't carry major bite, at least to start.

Alexi McCammond 11 hours ago
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Trump signs spending bill despite veto threat

Photo: Mark Wilson/Getty Images

President Trump announced that he has signed the $1.3 trillion spending bill that passed Congress last night "as a matter of national security," citing the bill's increase in defense spending, even though he threatened to veto earlier today. "My highest duty is to keep America safe," Trump said. He said he's disappointed in most of the bill.

Key quote: "I will never sign another bill like this again. I'm not going to do it again. Nobody read it. It's only hours old."