the driver began working for their uber -- began driving for uber-lyft after they were injured, and they couldn't perform their former job. two thirds of drivers indicated that driving was not their long-term goal. not surprising, two thirds of drivers were either working another job or looking for another job. this could mean that drivers are using transportation network companies as supplemental income. many families need to 41.5 to four minimum wage jobs in order to afford a one-bedroom apartment. this provides insight as to why people turn to gig work. of those who answered favorably, the respondents did not rely on the income. the income/expenses subcategory was used to determine if driving for t.n.c.s is economically profitable. three-quarters of respondents believe that the rate of pay for uber-lyft met rick -- metrics are unfair. the quote on the screen shows one driver who initially answered positively about the income questions but when probed about the expenses didn't seem to know how much they were putting into driving. this was revealing as it shows some drivers do not keep

plus, rating uber.fter a rocky ipo performance, uber's underwriters are defending the stock with bullish calls. but a big tax investigation is looming. chinese citizens continue to push back on censorship. just how high can the great firewall in china really go? but first, to our top story, the u.s. government is increasing its scrutiny of big tech companies. on top of the department of justice and federal trade commission dividing oversight for possible probes into google, facebook, apple, and amazon, the house judiciary says it will spearhead its own investigation into possible antitrust practices. house lawmakers plan to hold hearings on the matter, a move endorsed by house majority leader nancy pelosi, who had this warning. "unwarranted, concentrated power in the hands of a few is dangerous to democracy, especially when digital platforms control content. the era of self-regulation is over." joining me to discuss is our bloomberg tech correspondent. what is the latest development today in all of thes

uber has a top-secret testing facility in pittsburgh. >> reporter: uber is setting its self-driving car part on this vehicle. we'll show you more of it here in a minute. let's make a bit of news. uber plans to continue its testing in san francisco and toronto by the end of the year. it's a crawl, walk, run approach that uber says grows out of a focus on safety. driving down make believe lane is what uber hopes is a real future. this is uber's self-driving test track in pittsburgh. the roads draw their name from "mr. roger's neighborhood." what is happening here is far from child's play. we took a ride with the chief scientist. is this car as good of a driver as the average human is? >> it is. >> reporter: on this 54-acre facility, uber is building its return to autonomous driving after the crash where a self-driving uber hit and killed a woman in tempe, arizona. there's a lot of skepticism of self-driving cars. and in the aftermath of that accident, there's more skepticism about uber and self-driving cars. how are you going to convince me or my mother that she should get in the back of

thousands of people hop in uber rides every night in san francisco.say safety is a concern. >> we trust uber drivers with our safety in general. >> reporter: a new lawsuit just filed in federal court accuses uber of not doing enough to protect riders, while giving them a false sense of security. >> uber promoted this concept that it's safe to get into a complete stranger's car. >> reporter: ait's not safe because anyone can make a car look like an uber and the background checks are not adequate. his client got into what look said like a legitimate uber and the driench sexually assaulted her. brandon sherman was posing as a driver. uber had deactedvated him after a woman complained but they didn't take his decals away. >> at any given time there are probably 10,000 cars driving around in bay area with uber decals and no one, not even uber has decals on the car. >> and anyone can go to nbcbayarea.com and print one. the lawsuit claims uber knowingly put her in danger and should be held responsible. we did reach out to ububer abou concerns. police did arr

and right now, uber is doubling down. they need to invest.ot only do they need to invest in uber eats and autonomous, but in the next two to three years, there's a better chance of me playing for the golden state warriors than them hitting profitability. so i think, in the next two or three years, that's off the table. if you look at five years, it will be more realistic in terms of where they could hit. right now, the focus is on growth and especially on international and putting a fence around their backyard and making sure that the 90 to 100 million users continues to ramp and they monetize, especially on eats. emily: alright, so, i won't be seeing you in the nba finals tonight, dan. you just broke my heart. but mandeep did say on the call that marketing expenses were going to start to go down. that's presumably welcome news given that both lyft and uber have been spending heavily to attract new riders. mandeep: and he called out the rationality of the pricing in the u.s. markets. so basically lyft and uber are not subsidizing drivers anym

. >>> and still ahead, uber taking ride share to the skies. a plan that includes santa clara county. >>> and a crash caused by a sneeze. how witnesses came to the rescue just in time. at at&t we believe in access. the opportunity for everyone to explore a digital world. connecngings tmaer most. and because nothing keeps us more connected than the internet. we've created access from at&t california households with at least one resident who receives snap or ssi benefits. may qualify for home internet at a discounted rate of $10 a month. no commitment, deposit, or installation fee. visit att.com/accessnow, to learn more. . >>> a driver in tennessee blaming this on a sneezing fit. this video showing his car flipping several times and skidding down the road. the man was trapped in the vehicle. police say a group of golfers and construction workers jumped into action and rescued him just in time. they flipped the suv upright and got him out moments before the car caught fire. >>> ignition. liftoff. >> this spacex falcon 9 rocket launched this mornin

as uber x. it could fly between 25-60 miles. and the sales pitch is pretty basic. they say it might be the best option for avoiding congestion on the ground. >> it is quite foolish to assume that it's going to alleviate on ground congestion. troke uber mason give you a price to leave the congestion. the target date is 2023. there are technical issues that have to be ironed out, along with the regulatory ones. in santa clara, devin fehely, kpix 5 . >> uber is also making big plans for their self driving fleet. they are teaming up with a volvo to deploy and up dated the fleet of the self driving suvs. they will have steering and braking systems designed for computer control and a full range of sensors. if those fail the company said that backup technology will stop the vehicle. the autonomous cars when a series of test in pittsburgh. they are returning to autonomous driving after the crash in arizona where a self driving uber killed a woman driving across the street. >> it's presumptuous to think

eric meyhofer leads uber's autonomous driving unit.ni after uber's fatal accident, the number of peopleaid they were afraid to drive in a self- driving car rose to 71%, up from 63% a year ago. do you think the improvements to the technology are such that, that kind of accident wouldn't happen again? >> i think that, yes. it's a little enthusiastic and maybe presumptuous to think that there will never be an accident in a self-driving car. it's inevitable, and there will be. >> reporter: the fatal crash halted uber's self-driving program as the company conducted a top-to-bottom safety review. they added a second safety driver and technology to monitor them for distraction. uber resumed limited onroad testing in pittsburgh last december, but most of the development work is happening here on the site of an old steel and right now the car is driving itself. >> yeah, yeah, yeah. >> reporter: the cars are cautious. they operate at 25 miles an hour or less. even uber admits they sometimes fail tests. >> this vehicle is not ready yet. we believe that this vehicle can do it. but today, it isn't t

in this case, it would be lyft or uber and i say uber and i say it for this reason i understand lyft recently made $50 and the reason it was on the back of the uber note and everything you need to know about lyft and everything you need to know about uber. >> it's traded relatively well in this environment. >> why was the market up today, joe? >> it looked like a lot of short covering to me. >> and maybe it was oversold and my argument on uber still remains and leave the fundamentals aside and who needed to buy the stock with the ipo? >> seriously, everybody needed to sell the stock and everyone who wanted to own uber in the last -- >> and uber was out there for everybody. >> we've got to go for more on what wall street is saying about uber go to cnbc.com and here's what else is coming up on fast stop talking >> bottom's up >> big tech feeling the heat and it's the worst performing sector in the past month, but one top technician says the bottom might be in for the market behemoths he'll be here to explain why plus -- >> and speaking of heat, this hot stock has doubled the performanc

we spoke to one fund manager at the time of the uber ipo. his industry can't be seen to be missing out. if you are making money for your clients and don't have enough of the stocks, the funds are not going fast enough, you feel you have two participate a little bit. we have rising stocks that have so much momentum that they are hoping to get to the moon! think that has become a very dominant feature of the market at the moment. let's get another view. lomax ward is partner and co—founder of the technology venture capital firm luminous ventures. good morning. this is a market flotation fest for the likes of you. are you excited about app slack? we actually use it ourselves and it has been a game changing platform for businesses and introducing a whatsapp style messaging to internal teams. tens of thousands of paying customers as we have mentioned. this isa customers as we have mentioned. this is a company that is not making a profit now, but in terms of the business model we can see where it is going? exactly. 7096 revenue grew last year, the

. ♪ --ly: someone consider uber some would consider uber's ipo to be a bit of a failure but bill forde head of the private equity firm, said it wasn't. he spoke with our erik schatzker. is, or think the lesson what is happening, is more of the growth with these companies is happening in the private market. uber, if you step back and talk about a $60 billion-plus valuation, what in a compliment. so much of that happened in the private market. i think it is a reason why so many institutional investors and retail investors say i have to get exposure to private markets get with the innovation. , dating back to 2015, you enjoyed some of that appreciation while the company was private. do you look at the ipo and call it a disappointment? bill: i don't. i call a milestone. they still have to work their way in the business model for profitability. i don't see it at the end of the road. i see it as an important milestone. i think it is an important achievement making that company available to public investors. >> if you could re-edit the movie thus far, how would it look different? bill: the o

. >> travelers complain they have trouble getting the lyft are uber. cancellations and wait times are up. >> reporter: according to lyft and uber they used to be able to pick you up along the curb but now on sunday nights and in particular when it's busy they are saying that the weight is closer to 30 minutes because they have to pick you up at the top floor of the parking garage. boat both uber and lyft think it's unsustainable. >> they are trying to get a ride to the city but so far it has not been easy. >> one canceled and the third one showed 6 minutes then 10 minutes. >> this is the new normal. across the sky bridge and on top of the hourly parking garage you will find hundreds of people standing around staring at their phones. rideshare pickup used to be from the side but cause safety concerns. sfo moved it here and on june 2 the average wait time was around 10 minutes and for uber 8 minutes in the past two sundays the wait time has gone up. lyft reports average weight is 20 minutes and uber, 24 minutes. cancellations are also up. before the move

uber echoed that on their earnings call last week.thing. when we initiated on lyft -- >> did they show you any numbers to make you think that or is it just them saying they think people are going to stop discounting? >> this morning on uber, we have some data we gather, a tracker on sort of the rides and the price of a ride in six major cities across the u.s., and we see that uptrend happening over the last couple of months, so that's sort of where we're getting some of that conviction. >> so you think part of it is that both companies are now public and both have investors to answer to and can't be losing $1 billion a quarter like they have >> i think that's part of it. >> or uber has, i should say, not lyft. >> but i think the bigger thing is both companies feel like a duopoly or something close to that is a good way to go after this. >> what about a third competitor, like elon musk >> clearly there are going to be more competitors trying to come into the market. you know, what we think is that these are two-sided networks that you

uber is an absolutely enormous company and the statistics here show that uber carries 93 million writers. they are a disruptor. they are going to be disrupting the skies very soon. watch this space. and very quickly, the us, reigning cup champions, there last game scoring 13 goals against thailand, which you just never hear about in football. no. never have that many in one match. the women's world cup has onlyjust started, it's been a massive success already, 13—0 is an astronomical score, you don't see that, alex morgan scoring five goals. what she looks happy. very happy. it morgan scoring five goals. what she looks happy. very happy. it shows that the us are a force to be reckoned with as the tournament goes on. will they defend their title? we will have to wait and see. thank you james for being with us on the programme. thank you to for your company on the programme. i hope you enjoy your day. stay with us on the bbc as we keep you right up—to—date on all the latest news. some really miserable weather out there at the moment, pouring with rain across the north, but it's notjust her

that eliminates the need for uber and lyft. it would just make those companies go away if it's spread all over the planet. there are already private companies that are working on creating cryptocurrencies like this. but if it was a city-issued cryptocurrency, all the current rules that you put in the currency that are mandated in the exchange would be mandated by the city. by the way, this currency does not have to have the high energy use of bitcoin. this is a different type of currency. so the city could issue this, and i would actually urge some urgency on this because as i said, private companies are working on these type of cryptocurrencies to disrupt uber and lyft and airbnb, and if a private company does it first, then we have to deal with them skimming money off the top of the process. so i would urge you folks that are -- >> chair fewer: thank you, mr. brooks. seeing no further comment, public comment is now closed. [gavel]. >> chair fewer: so madam clerk, can you please call item seven. >> clerk: yes, and for the reco

as uber drivers battle over working terms, an australian court rules that uber drivers should not beonsidered employees — we'll be live in sydney. the european markets are open and in positive territory for now. and it's been a week when president trump says he's prepared to offer the uk a "phenomenal" trade deal after brexit — while the imf says it's concerned about the us trade warwith china we'll take a look back on the last five days with our very own darshini david. as theresa may steps down today, we want to know, what would you do on your last day at work? let us know — just use the hashtag #bbcbizlive. keep the hashtag #bbcbizlive. it clean! hello and welcome to business live. the hashtag #bbcbizlive. we start here in the uk, where a new period of huge uncertainty is about to begin for businesses both inside and outside britain — over the future of brexit. today prime minister theresa may will step down as leader of the conservative party. she will remain acting prime minister until a new leader is chosen. but who replaces her will decide the shape of britain's departure from

now uber is doubling down. not only do they need to invest in uber eats and autonomous , but in the next two to three years, there is a better chance of me playing for the golden state warriors than them hitting profitability. that is what i think in the next two to three years. if you look at five years, it will be more realistic in terms of where they could hit. right now, the focuses on growth -- the focus is on growth and international and putting a fence around their backyard and making sure that the 90 to 100 million users continues to ramp and they monetize especially in the eats. : so i won't be seeing you in the nba finals tonight, but he did say on the call that marketing expenses were going to start to go down. that is presumably welcome news given that both lyft and uber have been spending heavily to attract new writers. riders. mandeep: and he called out the rationale of the pricing in the u.s. markets. lyft and uber are not subsidizing. i still feel they are subsidizing the drivers and that is why

service to new heights with uber air.y, the company unveiled its first electric aircraft prototype, a helicopter-plane hybrid that can take off and land from a pad and fly 150 miles per hour. >> trevor: wow! uber is taking it to the next level. and you know what? this makes sense. because whenever i'm in an uber and the driver is swerving around through traffic yelling at other drivers while talking on his phone, i always think, "man, i wish we could do this 10,000 feet in the sky." ( laughter ) i also don't see how flying cars will work with uber pool. are the drivers going to be like, "this is your stop!" "aaaaah!" i guess on the bright side, uber air will have a much simpler rating system, right. it's either five stars or you're dead. that's it. ( laughter ) but you know what, you know what, i shouldn't hate on them because it's actually already been really successful. in fact, here's a video of uber picking up their very first air customer. ( laughter ) yeah, that looks like fun. all right, that's it for the headlines

uber and lyft completed a record number of trips in march.pite new york city's efforts to curb congestion and traffic caused by ride-hailing apps. in march, uber completed more than 17 million trips in new york city which is the most it has ever completed. lyft had 4.7 million rides. this is despite new york city's efforts in the past 12 months to curb down on the congestion and traffic caused by these apps. earlier in august, new york city is limiting license to new drivers of the ride-hailing app. earlier this year, minimum wages were set for drivers of uber and lyft. we have had some congestion surcharges on passengers. prices are going to be raised, yet we have not seen in the data yet that rides are slowing down. people are still taking a record number of trips. emily: could it be that they could be impacted down the line as some of these measures pile up and go into effect? shelly: it is possible to see down the line uber and lyft could be impacted, but it is too early in the data to see anything because it has been less than 12 months

i own uber and will continue to own uber i couldn't buy the ipo because we were on the deal but ult m t ultimately i did buy that name and facebook and everyone else was up in arms, but uber is a game-changer i fundamentally believe you talk about ride hailing -- >> this time it's different. >> i don't care if you're a 70-year-old grandmother or 12-year-old. when you're talking about a ride-hailing company, you say uber even if you're taking lyft. like amazon, brought up amazon yourself you're arguing against yourself. uber has -- >> i'm not arguing against myself >> it does not play. it doesn't when they go to autonomous driving vehicles, you know how much capital they're going to absorb >> talk about the other avenues and other ways -- >> i feel like a buffer here taking heat from both sides. >> this notion of debrav cowhat mark said is profitless success, you don't look at any of the perceived excesses in any of that as a warning sign we should have looked back on said we should have paid more attention to that? along with the list of nine things he said are being overly justified

. >>> plus, there's uber x and er black and uber pool, but would you take an uber helicopter?e'll explain why that soon may be an option. chuck? >>> an option. i can hardly wait to have my chuck, how ell me, about not having yourself picked up by the helicopter at 2:30 in the morni and waking us up. couple of raindrops downo the south for now. that's where they're going to stay for today. >>> 15 after the hour now. we know that uber mhas a ride-share service fcars. now the app is adding helicopter service for some users. uber copter will provide on-demand transportation from lower manhattan to jfk airport for about $225 per person. that includes r service tod from the helipad at each end. n b just falcon will be able to order the uber copter when the service starts next month. you'll need to be a platinum or diamond member of uber rewards s for th. > there's a thing like that? >> i didn't kat was a thing. tht's the airline-style reward m program theny launched last year apparently. >> i feel like this was a missed opportunity for you to give us your best arnold schwarzenegger

uber wants to cut down your commute time and take to the air. the company is pushing uber elevate. program using electric take-off vehicles that it says will be in place by 2023. >> but if like us you live in new york city, uber plans to launch a helicopter service less than one month from now, ferrying passengers from manhattan to jfk airport for only $200. >> now, that's just a traditional helicopter service. what we're talking about with uber elevate is a sort of new vehicle, the type we haven't seen before, that can just take off horizontally like a helicopter, then fly like an airplane horizontally. joining us is the director of engineering for uber elevate, mark moore. thanks for being with us. >> my pleasure. thanks for having me. >> you're working with a bunch of companies to develop this flying vehicle. what do you call it, you guys have a name for it. when do you actually -- when are we going to see one of these? when will we be testing it? when do you expect it to be certified? you're talking about the first ones up and running by 2023? >> the first certified aircraft wi

plus the street gets uber bullish on uber. our josh brown already owns it as you may know.you to buy it >>> and we are calling it a bank brawl, two well-respected analysts on that side of that trade, one sounding the alarm bells, they are both here onset to debate that all coming up at noon. carl, we're about ten away and we'll see you then >> all right, busy day, scott. >>> let's get over to the cme group in the meantime, get the santelli exchange. morning again, rick. >> good morning, carl. so, yesterday's low closed for ten-year no yields was 2.07. just keep that in the back of your mind. 1175 a.d., that's when leonardo de pisa, i don't know why he ended up with the name fibinacci, but that's where he was born, in the city famous for the leaning tower of pisa but the fibinacci sequence of numbers has magical effects and chartists have been enamored with it since i've been trading in the late '70s so, take the summation, zero and one is one, one and one is two, two and one is three ad infinitum but the magic of it is how different combinations are constant and give you im

>> i believe it's uber. we bought uber. i think uber can compete head-on with amazon.art: what's wrong with uber at the moment? because it's not recovered to its ipo price. it went out at $45 and uber right now is $43. what's wrong with it? >> it got over $45 on friday, then there was the announcements of some high level executives leaving the company. the market is concerned with uber right now that they are losing money, but i think they can get past that and look past that and go higher. stuart: uber eats is an absolute dynamo for them. how much is it, billions and billions, whatever it is? $10 billion worth of food they sold. ashley: and growing all the time. stuart: you bought it, right? at $38, $39? >> right around $38. stuart: and i didn't. got it. two stories on amazon. first of all, it's ending its restaurant delivery service. jackie, trying to compete with uber eats, didn't work? jk >> i think a lot of people are surprised by this. this experiment started in 2015 in limited markets and i think they are a late mover in this. people are creatures of habit. they

. >>> plus, uber is taking its services to the air. the new way uber eats is pushing to provide air fast delivery for its customers. . >>> good morning, i'm rahel solomon. here's the top headlines, wall street is set to open modestly hire this morning. stocks fell yesterday. keep an eye on oil prices, they're junk on reports of tanker ships in the persian n todas list, economic data on unemployment and import prices. >>> target is bringing same-day delivery to the masses. the retailer announcing shoppers will be able to get items from shopping.com and it will be delivered in an hour by paying a flat fee of $9.99 wer a shipt member. target says the option should be added to its mobile app for the holidays. >>> uber plans to test the delivery of fast food by drones in san diego. reports are saying deliveries will not be made to customer's homes. but we september instead to designated state landing zones, uber couriers will unlock it by hand. the landing zone could easily include the top of a parked uber car. the cost of the delivery will

uber.gation that looked into whether uber was misrepresenting drivers as people who ran their own business. in reaching the decision they looked at drivers contracts, logon and log off records, payment and also interviews with drivers. this was a conclusion, that they are not subject to formal operational obligations by uber to pay these workers. that was a key consideration. this is in contrast to what happened in the uk where investigators decided that uber drivers are employees. uber is appealing the decision in the uk. now let's brief you on some other business stories: talks between mexico and the us aimed a averting a new trade war will resume for a third day on friday. president trump has threatened to hit all imports from mexico with rising tariffs, starting with a 5% tax from monday, unless it curbs illegal immigration over the border. on thursday mexico offered to send troops to secure its southern border with guatemala. the german government is considering a merger between strugg

steven lesh. >> there's liquid cooling to keep the car cool. >> reporter: uber promises even if ubering, the ultimate control will be at the driver's fingertips. >> there will be a safe place. >> let me out. right now the car is driving itself. >> yeah, yeah. >> reporter: the cars are cautious. they operate at 25 miles an hour or less, allowing more decision time, sometimes more than a human driver would need. even uber admitted they sometimes fail tests. >> our approach isn't going to be, it's ready, hey, everybody, it's ready. it's not ready yet. we believe this vehicle can do it. but today it isn't there. >> it's absolutely fundamental to uber's business. if they can't get drivers out of cars, they will not be competitive. >> already waze has a vehicle and ford is testing on the streets of miami. there are approximately 40,000 traffic deaths in the u.s. every year. the promise of the self-drooving car is the possibility they could reduce or eliminate the 94% of crashes caused by human errors. >> it's one of the hardest engineering challenges in our generation. we think of it like

uber's problems are still there. >> the uber drama continues.witching gears now, one name absent from antitrust investigations is microsoft. this is the first significant move of this type against tech sixth 2001 -- since 2001 when microsoft was an qs of a monopoly. desh accused of monopoly. we have an antitrust lawyer with us to discuss this. also with us is our executive editor. the u.s. government has divided oversight of potential investigation into google, apple, amazon and facebook. how much of a case do you think they have if they move forward with these investigations? >> with respect to google, people have been complaining for quite a long time and it's conduct has been very well documented. the eu has brought three successful cases against google. there was a complete investigation by the ftc and some of google's conduct so with respect to google, they are probably far along. less so with the other companies but we don't know for sure. >> with google specifically, the ftc did recommend a lawsuit if you years ago. nothing came of that.

eats will not move the dial for uber.tuart: i just want to be in an entrepreneurial company that's got a brand-new industry using brand-new technology and i want to be in that even at my age. [laughter] >> more each day are coming out. [laughter] stuart: i will take effect new reports, amazon surpasses google and apple as the most worth brand. >> apple and google have had this for the last 12 years and pretty substantial they've had that. their premier players in the states but amazon been able to get this elevation, if you will is a big deal for the company and like you said, they are such a competitive player in so many different spaces. when amazon gets into your space it's like they will come and eat my lunch and people will worried about it and it's also the association with the fact that amazon does so much right now that they are getting this status symbol, if you will speak to they also fail fail delivery and - >> that was one fail destinations websites supposed to revolutionize the travel industry. stuart: to car

uber elevate is the business.entists and science behind this needs people underneath it who can run these things. jeff: absolutely. the company would say that education is one of their biggest priorities as far as making sure the pipeline stays strong. as far as that goes they have , knocked out most other competitors of any significance as far as recreational and civilian drone making goes. but they are sort of battling themselves because the margins are low. taylor: staying with drones, the first drone food delivery is on track for the summer. - this summer. kate: i got a chance to preview uber elevate, which is the part of uber that will take everybody up in the sky, as well as food delivery. i got to see a preliminary test. they had a drone, and they were working with mcdonald's. i watched big macs and chicken up in the air and , it was supposed to fly half a mile out of sight line, but the winds were not cooperating, so instead it did a little demo. it went up and down. a little like womp-womp. jason: from a

. >> uber and lyft. >> uber, i like uber freight. he is also a genius.t i think is a very strong story that people are starting to realize there is more to uber than just caps it has the ability to lower freight costs. do i buy it? i don't know. i like whatever deal is next now. we are kind of in a happy phase the recent issues almost all up from day one with exception of uber and lyft. >> the ones that were really most talked about. a lot of people felt zoom was a commodity. they are very well run. i think that one still makes sense. they have been pricing these things to move. >> that's for sure. this summer the company will begin selling nuggets. a blended burger will follow this the down grades last couple of days. >> i got contacted by nestle. i brought the burgers home to my wife. and you know canudly, she spit it out. that's a negative. she spit it out. that was something i didn't count on. it projected slightly. then they told me that's the german burger. one of the things i like is bh we guy to the german mcdonald's it is like ours. beyond meat

like an uber, for example. do you think this is going to push more private companies to go public sooner >> i certainly hope so and i'll tell you why. if you take a step back and think about who gets the opportunity of sharing in that success it's the everyday investor when you're in the public markets. and it's a more limited environmentalist base when you're in the private markets. i think it's really important that we encourage companies to come out to markets earlier in their life cycle so when they have that steep growth trend others get to share in that growth because i think it's a contributing factor if the most dynamic opportunities aren't available to everybody >> but i mean, i can understand the rationale for that argument. but why would uber care abou that surely uber would be pleased that they got as rich a price as they could for their last big fundraise. >> certainly you hear a lot about social purpose of ceos and organizations. and i think there is a growing focus on wanting to contribute to soc

our streets are packed with Über and lyft.t popular when i say it, but i see this as a huge issue of having our traffic congested. i wonder why we can't control the number of cars coming into the city. >> so if you're not popular, i'm not either, because i'm saying the same thing. you're preaching to the choir. so the state regulates Über and lyft. that's because they're considered livery. i am not the expert on why the state is, but as a city and county, we cannot do anything about the number of providers -- the number of drivers, the number of cars, but our transformative policy agenda absolutely does. we ask for two things 100% related to the issues that you just raised. number one would be local regulation of tnc, which may come out in the form of capping the number of vehicles on the road which is what new york city just did. they have a cap. but we cannot do that unless we change state law. the other would be, it's called congestion pricing and new york also just passed it. it comes in really lots of forms, but the goal

uber has said australia will become the first international market for its flying taxi service, uber city for its air taxi programme, joining dallas and los angeles. test flights are due to start from 2020, with the aim of launching commercial operations from 2023. more on that a little later. let's turn attention to hong kong. thousands of protesters and police in hong kong are engaged in a stand—off, as anger grows over a bill which would allow extradition to mainland china. it's now been delayed. as tensions continue to mount, over 100 companies have closed so staff can join the protests. and a number of financial companies like hsbc have introduced flexible work arrangements. let's take you to hong kong, where andrew wood is following the story. it is interesting, we are looking at the pictures, those protests show no sign of abating, and business now involved, saying to their staff you can take time off to go and protest. when i came to work this morning my usual coffee shop was closed. there was a sign saying that the staff are going on strike, that they had been allowed to go

called elevate would cost the same as in uber x. it's a luxury car service. the aircraft would be electric and could fly between 25-60 miles before recharging. they will begin to roll out the aircraft and in 2023. beginning in dallas and los angeles. >>> checking in with darren peck. not quite as hot . coming in it was only 100 degrees. we are all happy out there. definitely big changes in the san francisco? >> this shows sunshine over the bay bridge. that is the golden gate bridge. you think what day is that? when did that happen? that start around 3 pm this afternoon. that time-lapse that i showed you earlier in the newscast. we saw that view, there's still plenty of sunshine we have it started here and that is an important sign. let's do a little comparison. these were today's daytime highs. it was hot, 98 for livermore. we did get back to that hundred degree mark. but now we are back down to 70 degrees. for san francisco we were not out of the 70s today either. as far as the next 24 hours per yesterday, it's much better. concord

uber as women. while the ipo didn't go well, it has held every level for the better part of the last six weeks. so i have to respect these, and i think the broader message is when you look at what is typically risk-on type stock already as an index making new highs, it probably bodes well for risk app tied leans saying this market is maybe in better shape than people think. >> i see your point about some of the skeptics reflected in the high/short interest, but on the flip side don't you have a lockup at some point that would have deluge of shares, that's not relevant >> it is certainly in the future what i think is curious is none of these were great ipos to start. i mean they hit uber, they hit lyft, they hit dropbox i think a lot of the bad news -- >> beyond meat, you can't say that was. >> that's perhaps the exception of this group. dropbox was down 60% from the high when you look at the majority of the names, they've experienced a tough go at the start. i've been impressed how they responded. n

by may 2018 walmart endedp ts partnersth uber and lyft., walmart said it was testing storen employees o their way home from work in new jersey and arkansas, through the use of a proprietary ak. itly q ended that program. >> last month walmart launched jet black in new york city and it is ongoing and a wait still only in new york city. >> we've been trying a lot of new things lately. our goal isn't to have a track record. it's to make sure we're moving fa, taking smart risks. we want to continually learn, adapt and push the limit owh 's possible. at the end of the day everything we're doing adds up to something really special. >> so while in-home delivery is walmart's latest risk, it remains to be seen if it will pay a material reward. for nately business repoightly courtney reagan in fayetteville, arkansas. >> barnes & noble and that's where we begin tonighs market focus. the company has been acquired by elliott advisers for $683 million and the nation's largest bookstore chain has been struggling for the past five years, losing more 1 bil

two longtime uber executives became trusted allies. one had been working for uber since 2012.will lead operations. pretty big portfolio. that doesn't for the closing bell. romaine bostick is stepping in next for "what'd you miss?" where we will continue to discuss the management shuffle at uber along with talking about jobs and trade. this is bloomberg. ♪ ♪ caroline: live from bloomberg's world headquarters in new york, i'm caroline hyde. romaine: i'm romaine bostick. caroline: here's a snapshot of the rallies. ridesharing shakeup. after a rough public debut, the and cmo arer's coo stepping down. eight jobs report fuels hopes for a rate cut. as a deadline nears, president trump expressing optimism that a deal will be reached to avoid tariffs on mexico. let's get straight to the uber news. breaking the fact that the coo and cmo will be leaving. i think he wanted to take more direct control over the company, had two longtime executives in mind, then ok, you're losing the scope of your role, so they are stepping aside. romaine: just to be clear, the people leaving, are those posi

uber no revelÓ cuÁl serÍa la calificaciÓn que causarÍa la expulsiÓn del pasajero de la aplicaciÓn.o no representarÍa una gran diferencia. dicen que no dependerÍan del consumo de estados unidos. un grupo de unos inmigrantes se reunieron en san pedro sula para formar una caravana y comenzar su viaje hacia estados unidos. la mayorÍa trata de llegar a estados unidos. el presidente donald trump amenazÓ con imponer aranceles a los productos mexicanos sino detienen el flujo ilegal de inmigrantes. ¿quÉ le parece si pasamos con nuestra meteorÓloga suheily lÓpez belÉn? para que nos diga quÉ podemos esperar del pronÓstico para la semana laboral. suheily: aquÍ les voy adelantando las temperaturas que estar mÁs recibiendo en el Área de la bahÍa. para estos primeros tres dÍas de la semana laboral, mediados 80 hacia san josÉ. tome en consideraciÓn que en san josÉ estarÁ aumentando cerca de los 85, pero regiones como concord, podrÍan acercarse hacia 95 grados. regiones como oakland y san francisco, quedarÁn en los mediados 70. mucho mÁs caluroso hacia el interior de california. en el valle central

kay: i got a chance to preview uber elevate, the part of uber that will take everybody up in the sky,elivery. i got to see a preliminary test. they had a drone and they were working with mcdonald's. i watched a big mac go up in the air and it was supposed to fly half a mile out of sight line but the winds were not , cooperating, so instead it did a little demo. it went up and down. a little like womp-womp. jason: food delivery has taken on a totally different dimension in a lot of ways and we are talking about taking it even further. what is it that has made it such? kate: it is just convenience. let's say millennials. why get up from your sofa if you don't have to? unlike most of us. why get up from your sofa when you can command something to come right to you. you can customize it, it's amazing. one thing that uber elevate envisions which i think is awesome is they have signed on a high-end restaurant in san diego called juniper and ivy. maybe one day we can order pink peppercorn and there in brooklyn -- i live in manhattan -- i could have pink peppercorn dishes delivered to my hous

uber has had a bumpy start to public life.nvestors are concerned about the size of the market, the reality of self driving cars, and taking on another risky asset. the ride-hailer gave insights into growth reporting first-quarter results thursday. joined with guests shortly after it came out. >> right now, the focus is on growth and bookings the last thing -- and bookings. last thing you want to do just back yourself into a corner. is just back yourself into a corner. it has been a shaky start since the idea -- the ipo. emily: what is your take on this continued level of losses? the ceo said it will be an investment here, they will continue to invest -- year, they will continue to invest. >> yeah, and you know where they are investing. there are investing in the food delivery business. fragmented andis you know it is pretty big. even amazon invested in delivery -- deliveroo. emily: what is your assessment of getting to profitability? it was a peakf spending year and he would not commit to that. getsikely is it that uber to pro

they allow Über and lyft.e begging of you guys, take our medallion back and give us our money back. or we will keep coming, keep coming, until they don't give us our money back. we don't know how long, but please we are begging of you, do something for us. thank you very much. >> president yee: thank you. next speaker. >> honorable president yee, angela calvillo, clerk of the board of supervisors, and honorable members of the san francisco board of supervisors, my name is rueben david goodman, i'm a native of the portal district. nestled in between bayview hunters point, vicitation valley, and bernal heights. i'm a retiree of the san francisco assessor's office. i was a candidate for democratic county central committee in 19 -- i think it was 1992, the original year of the woman, but i was gender-impaired. i was proud to have received the unanimous endorsement of the cadc, the chinese-american democratic club. i received 20 votes of 20 voting members. i am currently an employee of the department of public heal

uber eats told us... the company says it will. ..have to be displayed in the shop window but that law doesn't apply online. the welsh government says it should across the uk. ijust bought this from a takeaway with a hygiene rating ofjust one. so when you're going in to order food on any one of those apps, i want to make sure that as a consumer you have that choice and that information in front of you. so if the big food delivery companies won't change, you'll make them change? yes. deliveroo and uber eats don't show individual hygiene ratings but say they hope to in the future. following our investigation last year, just eat did start a trial showing ratings for a small number of outlets and says that will go nationwide next month. companies making billions from meals they don't cook, in takeaways they don't own. is it time they were made responsible for the kitchens where that food — and their profits — are made? angus crawford, bbc news. the next generation of the vauxhall astra will be built at ellesmere port if a satisfactory bre