Advertiser Disclosure

Uber’s License Is Suspended

Spread the love
Uber’s License Is Suspended

Published 11/26/2019

What Happened?

Blimey! Transportation For London (TFL) suspended Uber’s license to operate in the city.

What’s their beef with Uber?

A “pattern of failures” that risked passenger safety was the main reason for the suspension. 

  • Hey, you’re not my driver! Unauthorized Uber drivers were caught picking up passengers…14,000 times. 
  • Uber is appealing this decision and will continue operating during the appeal. 
  • London is one of Uber’s leading markets, with 3.5 million riders and 45,000 licensed drivers.

How Does It Affect My Wallet?

Repeat offender. In 2017, TFL denied Uber’s application for a long-term license, citing safety concerns and other issues. 

  • Uber is also facing regulatory issues in Germany, Italy, and Spain.

Uber’s post-IPO performance has been a disaster so far and these new issues create more potential turmoil. 

  • Uber has fallen more than a third from its IPO price of $45 – closing yesterday at $29.50

Don’t want to miss our financial news you can finally use? Subscribe to our newsletter – it’s free! 

More From News Stories