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COMING UP:Share Opener Variant 3

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Transcript

00:00:01
>> Uber has been stripped of its license in London. In a huge blow for the taxi app, the city's transport regulator on Friday, banned the company from operating after the end of September. The decision is likely to affect over 40,000 drivers. Transport for London criticized Uber for a lack of corporate responsibility, saying their behavior posed potential safety and security implications.
00:00:25
The city's mayor, Sadiq Khan, backs the decision. While the company's license in London was due to end on September 30th, TFL failing to renew it could in part be bowing to political pressure. As Reuters' Alistair Smout explains.>> There's been mounting political pressure from the opposition in the Labour Party.
00:00:43
Several high-profile members of that party have said that Uber cuts corners, and undercuts rivals unfairly. And with that party conference happening this weekend, again, that was another forum in which some of these grievances could be aired.>> The company says they'll appeal the decision within the required 21 days.
00:01:04
And can continue to operate, until the process has finished. Uber has previously faced criticism in London from unions over working conditions, as well as from lawmakers and traditional black cab drivers. They'll now be hoping to win back the city's trust, and avoid too much time in the appeals court.
00:01:21
>> Any timeline which is given now, we anticipate there's gonna be a long legal battle. It could be months or even years. And perhaps the more likely outcome isn't necessarily that that is seen through to the bitter end. But there might be some concessions from Uber. They'll agree to enforce standards, which they've been criticized for not enforcing in the past.
00:01:41
And maybe from that way they can be in agreement with Transport for London, without the whole torturous legal process playing out.>> The London ban is not the first scandal to hit Uber. Globally, they've endured a tumultuous few months, after a string of scandals involving allegations of sexism and bullying.
00:02:01
It led to investor pressure, which forced out the former CEO and co-founder. The app has also been forced to quit several countries, including Denmark and Hungary. And face regulatory battles in multiple US states, and countries around the world.