Uber reporting crimes direct to police to boost safety

The US firm has been attempting to reshape its image under new chief executive Dara Khosrowshahi after the departure of former boss Travis Kalanick and a host of other executives last year, which followed a string of scandals including claims of sexual harassment within the company and a massive …
A mobile phone with the Uber appImage copyrightReuters

Uber is to report crimes directly to the police and will set up a phone line as part of measures to improve safety.

Last year, a Metropolitan Police officer said in a letter that passengers were being put at risk because of delays in the reporting of sexual assaults.

The company said it was changing its policy “after listening to feedback”.

It is currently appealing against Transport for London’s decision to withdraw its operating licence.

TfL said the ride-hailing service was not a “fit and proper operator” in its ruling last year.

Safety concerns

Uber said its policy of “pro-actively” contacting the police about serious incidents was already happening in London and would be rolled out across the UK after discussions with other police forces.

It said it previously “encouraged and supported individuals” to report serious incidents and would conduct a review of all previous serious complaints to ensure there were no outstanding issues.

TfL cited the company’s approach to reporting serious crime as a key issue in denying it a new licence.

Last year, the Sunday Times revealed a letter written by Inspector Neil Billany of the Metropolitan Police’s taxi and private hire team to TfL, exposing the force’s increasing concerns about the taxi-hailing app.

He said Uber’s policy of logging criminal complaints about its drivers with TfL were risking passenger safety because it caused delays, and in one case he believed it led to a more serious, second, alleged sexual assault.

The Metropolitan Police said it did not wish to comment on Uber’s latest announcement, but said it “would encourage anyone with information about a crime to report it to the police”.

Other changes include plans to give customers more access to driver information, including the licensing authority and private hire number of their driver.

There will also be a new round-the-clock support line for both passengers and drivers to handle any issues around a journey.

Reshaping reputation

The US firm has been attempting to reshape its image under new chief executive Dara Khosrowshahi after the departure of former boss Travis Kalanick and a host of other executives last year. These departures followed a string of scandals, including claims of sexual harassment within the company and a massive data breach.

Tom Elvidge, general manager of Uber in the UK, said: “After listening to feedback from drivers, riders, local regulators and the police we’re introducing a number of new features and changes to enhance driver and passenger safety.

“We’re determined to change the way we do business, so we’ll carry on listening and plan to make other improvements over the coming months.”

In reaction to the announcement, TfL said safety was its top priority.

It welcomed the introduction of a phone line saying it was “in the interests of public safety and passenger convenience that all operators should enable passengers to speak to someone during their hours of business and at all times during a journey”.

It added it was also lobbying the government to introduce national legislation which would require taxi journeys to start and end in the area in which a driver and vehicle was licensed.

TfL and Uber are due back in court for the licence appeal hearing in June.

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Uber to open 24-hour hotline for reporting ‘bad experiences’

Uber is setting up an “open all hours” telephone hotline for passengers who want to make a complaint after a journey booked through the cab hailing app. The move is part of a new package of reforms in the Silicon Valley giant’s “charm offensive” launched after Transport for London’s shock refusal to …

Uber is setting up an “open all hours” telephone hotline for passengers who want to make a complaint after a journey booked through the cab hailing app.

The move is part of a new package of reforms in the Silicon Valley giant’s “charm offensive” launched after Transport for London’s shock refusal to renew its licence to operate in the capital last September.

An appeal against that decision has been launched in the courts but London’s largest new private hire operator has also separately made a series of pledges to clean up its act under the leadership of chief executive Dara Khosrowshahi.

Today’s announcement means that passengers – as well as drivers – will have a number to call to report bad experiences or seek support. Previously the only point of contact with Uber was through the online app.

In a statement Uber said: ”Whenever there’s an issue like an incorrect cancellation fee, riders and drivers alike often find it’s easy and simple to get it sorted through the app. But drivers and riders have told us that they would like the option to give us a call, especially if something more serious happens.

“We’ve heard this feedback loud and clear and we’re now acting on it. For the first time in the UK, we’re going to launch 24/7 telephone support for both riders and drivers.

“We’ll be training and recruiting additional staff, including at our existing customer support centre in Limerick, before going live with this new service later this year.”

In another significant change Uber said it would in future give passengers details of their driver’s private hire licence number on their electronic receipt and booking confirmation. Uber said: “This means passengers can more easily raise any issues with the driver’s licensing authority as well as with Uber.”

Tom Elvidge, general manager of Uber in the UK, said: “With millions of trips across the UK booked through our app each week, the safety of riders and drivers using Uber is a top priority.

The changes came as TfL said it would introduce regulations that will force all ride hailing apps to limit the time drivers work and turn over travel data to the Government. Uber says it already limits drivers to ten hours working before they have to go offline for at least six hours.

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Uber on the path to profitability despite recording a historical scale in losses

Dara Khosrowshahi, the new CEO of Uber, is on the right path to driving Uber to profitability. Despite recording a substantial loss of $4.5 billion in the latest leaked financial records for the 4th quarter of 2017, the company achieved a 61 percent increase in adjusted net revenue from the same period in …

Dara Khosrowshahi, the new CEO of Uber, is on the right path to driving Uber to profitability. Despite recording a substantial loss of $4.5 billion in the latest leaked financial records for the 4th quarter of 2017, the company achieved a 61 percent increase in adjusted net revenue from the same period in 2016.

Uber isn’t publicly traded but has chosen to make selected financial information available to the public and investors in recent quarters. The ride-hailing giants and most valuable U.S. private technology company showed growth in sales in this latest financial report for the fourth quarter. Apart from the significant growth in sales to $7.5 billion, the San Francisco-based firm reduced its fourth-quarter loss by 26 percent to $1.1 billion, compared with the third quarter, the company told its investors on a conference call on Tuesday anddisclosed it exclusively to The Information. Also, a 14 percent higher revenue of $11.1 billion, according to Uber, was as a result of better controlling costs like advertising and customer support.

Khosrowshahi said on the conference call to investors that UberEats had reached a $4 billion gross revenue run-rate in the fourth quarter, which means food delivery will represent about 10 percent of Uber’s business. In the midst of the heavy losses and turbulent 2017 that the company faced; where the co-founder Travis Kalanick was forced to resign in June amid pressures from investors — the new CEO has been able to steady the ship and grow the company.

Last month, SoftBank Group Corp. completed a$9.3 billion investment deal to make itself the largest shareholder in the ride-services company. The Japanese conglomerate who became the largest shareholder after the deal believes that people would rather book rides through an app instead of driving themselves and that the business will find a way to make up for losses today.

Bill Gurley, a former board member who helped lead the ouster of Khosrowshahi’s predecessor, Travis Kalanick, spoke to Bloomberg on Wednesday at the Goldman Sachs Group Inc. technology conference in San Francisco about his optimism on the profitability of the company over time. “I’m very optimistic. We have a great team on board that knows how to run profitable companies. It will take some time,” said Bill Gurley. In the interview, he also pointed out the “strong profit drivers” for Uber, stating the high-end market and majorly the UberEats, which represents about 10 percent of Uber’s business.

The CEO has also expressed the desire to go public with the company in 2019 in order to enjoy the “advantages of being a public company.” In recent history, Khosrowshahi then CEO of Expedia, recorded more than 500 percent increase in stock price since he took over of Expedia Inc. as President and CEO in 2005. It reached a high of $159.50 in late July of 2017. This evidently shows he has what it takes to run a public company, which is one of the major reasons for the optimism.

Considering the fact that Uber is a private company, one cannot help but wonder why the company keeps releasing its financial records to the public, putting itself under unnecessary media scrutiny. Could this be a subtle way of getting the public’s attention and interest in preparation for its Initial Public Offering (IPO) in 2019?

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All Intel Skylake-X CPUs Feature Two AVX-512 Units, Intel Clarifies Months After Launch

Also, with the discovery of Spectre and Meltdown security flaws, Intel is in a tough spot, however, the company has promised hardware fix for Spectre and Meltdown for its upcoming line of processors. According to Intel CEO Brian Krzanich, the company is working on a hardware fix for its next line of …

In the follow-up to Intel SKylake-X CPUs launch, Intel noted that Core i9-7800X and multi-core chips will feature Two AVX-512 Units with Core i7 in the Skylake-X CPU family will feature only one. However, now Intel has clarified that all Intel Skylake-X CPUs will feature Two AVX-512 Units.

This will come as a relief to PC enthusiasts as before this, if anyone wanted full AVX-512 capabilities had to buy a 10 core or higher CPU and with the clarification from Intel itself, things will be easier for everyone and those who already own an i7 from Skylake-X family will take full advantage of AVX-512 capabilities.

While it is a good step from Microsoft that it has clarified the confusion, however, those who wanted full AVX-512 capabilities had to buy the expensive high-end processors whether or not they had a need for it not since the launch of Intel Skylake-X CPUs till now. Meaning many had to buy expensive CPUs, going over budget, just to get full AVX-512 capabilities in the processor.

This is a big marketing blunder from Intel itself whether or not it was done on purpose to sell its most expensive CPUs in the SKylake-X series is another debate but, such false statements have potentially cost many consumers a lot of money which they didn’t need to spend because of one false marketing statement from Intel.

Speaking of Intel processors, a Core i9-8950HK has been spotted inside an unreleased Core i9-8950HK. According to the specs, this mobile processor will feature 6 cores with 12 threads and not only that, the processor itself will be unlocked.

Meaning users will be able to overclock it which also hints that the cooling solution will be very good. Furthermore, the processor will have a base clock of 2.9 GHz and 3.9 GHz with the turbo.

Also, with the discovery of Spectre and Meltdown security flaws, Intel is in a tough spot, however, the company has promised hardware fix for Spectre and Meltdown for its upcoming line of processors.

According to Intel CEO Brian Krzanich, the company is working on a hardware fix for its next line of processors that will be available in 2019.

What is your take on the situation? Let us know in the comments below.

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Carl Domino Inc Purchases Shares of 6400 Intel Co. (INTC)

This is a positive change from Intel’s previous quarterly dividend of $0.27. Intel’s payout ratio is 60.61%. In other news, CEO Brian M. Krzanich sold 8,659 shares of the business’s stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $49.40, for a total transaction of …

Intel logoCarl Domino Inc acquired a new stake in shares of Intel Co. (NASDAQ:INTC) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 6,400 shares of the chip maker’s stock, valued at approximately $244,000.

A number of other large investors have also recently modified their holdings of INTC. Ashfield Capital Partners LLC lifted its holdings in shares of Intel by 10.9% in the 3rd quarter. Ashfield Capital Partners LLC now owns 336,818 shares of the chip maker’s stock worth $12,826,000 after acquiring an additional 33,182 shares during the last quarter. Marble Harbor Investment Counsel LLC raised its holdings in Intel by 13.2% during the 3rd quarter. Marble Harbor Investment Counsel LLC now owns 60,039 shares of the chip maker’s stock valued at $2,286,000 after buying an additional 7,000 shares during the last quarter. Commerce Bank raised its holdings in Intel by 2.5% during the 3rd quarter. Commerce Bank now owns 1,211,003 shares of the chip maker’s stock valued at $46,115,000 after buying an additional 29,940 shares during the last quarter. Welch Investments LLC raised its holdings in Intel by 2.6% during the 3rd quarter. Welch Investments LLC now owns 121,545 shares of the chip maker’s stock valued at $4,628,000 after buying an additional 3,030 shares during the last quarter. Finally, Putnam FL Investment Management Co. bought a new stake in Intel during the 3rd quarter valued at $3,642,000. 67.48% of the stock is owned by institutional investors.

Shares of Intel Co. (NASDAQ INTC) opened at $45.92 on Friday. The company has a quick ratio of 1.29, a current ratio of 1.69 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $212,378.41, a PE ratio of 13.08, a P/E/G ratio of 1.53 and a beta of 1.07. Intel Co. has a fifty-two week low of $33.23 and a fifty-two week high of $50.85.

Intel (NASDAQ:INTC) last posted its earnings results on Thursday, January 25th. The chip maker reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.22. Intel had a return on equity of 24.33% and a net margin of 15.30%. The company had revenue of $17.05 billion for the quarter, compared to analyst estimates of $16.34 billion. During the same quarter in the previous year, the firm earned $0.79 earnings per share. The firm’s quarterly revenue was up 4.1% compared to the same quarter last year. research analysts anticipate that Intel Co. will post 3.52 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Wednesday, February 7th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.61%. The ex-dividend date of this dividend is Tuesday, February 6th. This is a positive change from Intel’s previous quarterly dividend of $0.27. Intel’s payout ratio is 60.61%.

In other news, CEO Brian M. Krzanich sold 8,659 shares of the business’s stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $49.40, for a total transaction of $427,754.60. Following the sale, the chief executive officer now owns 263,382 shares in the company, valued at $13,011,070.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Brian M. Krzanich sold 889,878 shares of the business’s stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $44.19, for a total value of $39,323,708.82. The disclosure for this sale can be found here. Insiders sold 932,755 shares of company stock worth $41,387,752 in the last quarter. 0.08% of the stock is owned by insiders.

A number of brokerages have issued reports on INTC. UBS Group set a $51.00 price objective on shares of Intel and gave the company a “buy” rating in a research report on Monday, January 29th. MKM Partners upped their target price on shares of Intel to $55.00 and gave the stock a “buy” rating in a research report on Friday, January 26th. Vetr downgraded shares of Intel from a “buy” rating to a “sell” rating and set a $47.74 target price on the stock. in a research report on Monday, January 29th. Citigroup initiated coverage on shares of Intel in a research report on Tuesday, January 30th. They issued a “buy” rating and a $58.00 target price on the stock. Finally, Nomura reissued a “buy” rating and set a $50.00 price objective on shares of Intel in a research report on Friday, January 26th. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating and thirty have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $49.33.

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About Intel

Intel Corporation is engaged in designing and manufacturing products and technologies, such as the cloud. The Company’s segments are Client Computing Group (CCG), Data Center Group (DCG), Internet of Things Group (IOTG), Non-Volatile Memory Solutions Group (NSG), Intel Security Group (ISecG), Programmable Solutions Group (PSG), All Other and New Technology Group (NTG).

Institutional Ownership by Quarter for Intel (NASDAQ:INTC)

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