Selloff or Market Correction? Either Way, Here's What to Do NextSee Overvalued Stocks

Uber submits appeal to regain London taxi licence

Published 12/13/2019, 10:57 AM
© Reuters.  Uber submits appeal to regain London taxi licence
UBER
-

LONDON (Reuters) - Uber (NYSE:UBER) submitted an appeal on Friday against a decision by London's transport regulator to strip the taxi app of its right to operate in one its most important markets, setting up a potentially lengthy legal process during which it can continue to take rides.

Last month, Transport for London (TfL) refused to grant the Silicon Valley-based company a new licence due to what it called a "pattern of failures" on safety and security, the latest stage of a long-running battle with the authorities.

Uber, which was also denied a licence by TfL in 2017 before a judge restored it on a probationary basis, said it had changed its business model over the last two years and would go further, as it lodged its appeal at Westminster Magistrates' Court.

"We are committed to Londoners and are working closely with TfL to address their concerns and requests, as we have since 2017," said the firm's Northern and Eastern Europe boss Jamie Heywood.

TfL declined to comment.

The firm's roughly 45,000 drivers in London will still be able to take rides until the appeals process is exhausted, which could take months or even years.

The regulator said in November that unauthorised drivers were able to upload their photos to other Uber accounts so that on at least 14,000 trips a driver other than the advertised one picked up passengers.

The Silicon Valley company has run into regulatory barriers and a backlash in several markets, forcing it to withdraw completely from places such as Copenhagen and Hungary.

In London, black cab drivers who see Uber as a threat to their livelihoods have blocked streets in protest, arguing that are being unfairly undercut by an inferior service.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.