TOYOTO TO ACQUIRE LYFT’S SELF DRIVING DIVISION FOR $550 MILLION

Highlights –

• Toyota to acquire Lyft’s self-driving division for $550 million.
• Toyota will make the purchase via its unit engaging in software developments Woven Planet Holdings Inc.
• Toyota is also working with Aurora Innovation ...

CALIFORNIA APPEALS COURT HALTS LOWER COURT ORDER OVER UBER AND LYFT DRIVER-EMPLOYER ISSUE

Highlights –

• California appeals court halts lower court order over Uber and Lyft driver-employer issue.
• Drivers wish to continue working as independent contractors.
• The initial ruling forced the companies to treat their drivers as em...

UBER SACKS 23% OF WORKFORCE AMID COVID-19 CRISIS

Highlights

• Uber Technologies Inc. will sack 6,700 employees

• The newly planned measures are expected to bring in $1 billion in annual cost savings

According to an email sent by Uber Technologies Inc.’s chief executive officer Dara Khosrowshahi to e...