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Automobile Italia / Flickr cc

Uber has been underpaying New York City drivers since late 2014 when it rolled out a new driver agreement, the company told the Wall Street Journal on Tuesday. Instead of calculating its cut after accounting for taxes and fees, Uber has been doing the math on the larger amount.

Uber says it will refund all affected drivers, including interest, which should amount to about $900 per driver on average. Overall, this will likely cost the company about $45 million, according to an estimate from the Independent Drivers Guild, which represents many NYC drivers.

Don't forget: This is far from the first time Uber's been in hot water over driver compensation. In the last few months, Uber has agreed to pay out $20 million to resolve a complaint to the FTC over its claims about driver pay, and has also admitted to underpaying black car drivers in Pittsburgh since 2015. Its "upfront pricing" approach has also been subject to much criticism for opaquely underpaying drivers.

Go deeper

Behind GameStop's latest stock surge

Illustration: Aïda Amer/Axios

Back in focus: The meme stock trade.

By the numbers: GameStop finished up 19%, after a wild day that saw shares spike as much as 80%.

AT&T spins off U.S. video business via deal with TPG

Photo: AaronP/Bauer-Griffin/GC Images

AT&T is spinning off three of its video services, including its satellite TV brand DirecTV, to create a new standalone video company called New DIRECTV.

Details: The company will be jointly owned by AT&T and private-equity giant TPG. AT&T will retain a 70% stake and TPG will own 30% of the firm.

Updated 1 hour ago - Sports

Ex-USA Gymnastics coach dies by suicide after being charged with human trafficking

John Geddert. Photo: AFP via Getty Images

The body of John Geddert was found on Thursday, just hours after the former USA Gymnastics coach was charged with 24 counts of criminal misconduct, according to Michigan Attorney General Dana Nessel.

What they're saying: “My office has been notified that the body of John Geddert was found late this afternoon after taking his own life. This is a tragic end to a tragic story for everyone involved," Nessel said in a statement.

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