Factbox: Companies offering abortion travel benefits to U.S. workers

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June 29 (Reuters) – A growing number of companies, including JPMorgan Chase & Co (JPM.N), Amazon.com Inc (AMZN.O), Tesla Inc (TSLA.O) and Walt Disney Co (DIS.N) are updating or changing their health insurance policies to offer travel benefits to U.S. employees who may need to access out of state abortion services.

The U.S. Supreme Court on Friday took the dramatic step of overturning the landmark 1973 Roe v. Wade ruling that recognized a woman’s constitutional right to an abortion and legalized it nationwide. read more

Below is a list of companies that have said they will cover or reimburse U.S. employees who need to travel to receive medical care, including abortion, if access where workers live is restricted.

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Airbnb Inc (ABNB.O)

Alaska Air Group Inc (ALK.N) read more

Alphabet Inc (GOOGL.O)

Amazon.com Inc (AMZN.O) read more

American Express Co (AXP.N)

Apollo Global Management Inc (APO.N) read more

Apple Inc (AAPL.O)

AT&T Inc (T.N)

Bank of America Corp (BAC.N)

Bank of Nova Scotia (BNS.TO)

Blackstone Inc (BX.N) read more

Block Inc (SQ.N)

Bumble Inc (BMBL.O) read more

Canadian Imperial Bank of Commerce (CM.TO)

Carlyle Group Inc (CG.O) read more

Chobani

Citigroup Inc (C.N) read more

CVS Health Corp (CVS.N)

Deutsche Bank AG read more

Dick’s Sporting Goods (DKS.N) read more

DoorDash Inc (DASH.N)

Equinox

Goldman Sachs Group Inc (GS.N) read more

Gucci (PRTP.PA)

H&M (HMb.ST)

HubSpot Inc

Intel Corp (INTC.O)

Johnson & Johnson (JNJ.N) read more

JPMorgan Chase & Co (JPM.N) read more

Kroger Co (KR.N)

Levi Strauss & Co (LEVI.N) read more

L’Oreal (OREP.PA)

LVMH (LVMH.PA)

Lyft Inc (LYFT.O) read more

Macy’s Inc (M.N)

Mastercard Inc (MA.N) read more

Meta Platforms Inc (META.O) read more

Microsoft Corp (MSFT.O) read more

Morgan Stanley (MS.N) read more

Netflix Inc (NFLX.O)

Nordstrom Inc (JWN.N)

OKCupid (MTCH.O) read more

PayPal Holdings Inc (PYPL.O)

Pinterest Inc (PINS.N)

Proctor and Gamble Co(PG.N)

Ralph Lauren Corp (RL.N)

Rivian Automotive Inc(RIVN.O)

Starbucks Corp (SBUX.O) read more

Target Corp (TGT.N)

Tesla Inc (TSLA.O) read more

TPG Inc (TPG.O) read more

Uber Technologies Inc (UBER.N)

Ulta Beauty Inc (ULTA.O)

Unilever PLC (ULVR.L)

United Talent Agency read more

Walgreens Boots Alliance Inc (WBA.O)

Walt Disney Co (DIS.N) read more

Wells Fargo & Co (WFC.N) read more

Yahoo

Yelp Inc (YELP.N) read more

Zillow Group Inc (ZG.O)

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Reporting by Doyinsola Oladipo and Akash Sriram; Additional reporting by Chavi Mehta, Manas Mishra and Nichola Saminather; Editing by Anna Driver, Rosalba O’Brien, Bill Berkrot, Daniel Wallis, William Maclean

Our Standards: The Thomson Reuters Trust Principles.

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Drivers’ Lawsuit Claims Uber and Lyft Violate Antitrust Laws

A group of drivers claimed on Tuesday that Uber and Lyft are engaging in anticompetitive practices by setting the prices customers pay and limiting drivers’ ability to choose which rides they accept without penalty.

The drivers, supported by the advocacy group Rideshare Drivers United, made the novel legal argument in a state lawsuit that targets the long-running debate about the job status of gig economy workers.

For years, Uber and Lyft have argued that their drivers should be considered independent contractors rather than employees under labor laws, meaning they would be responsible for their own expenses and not typically eligible for unemployment insurance or health benefits. In exchange, the companies argued, drivers could set their own hours and maintain more independence than they could if they were employees.

ballot measure in California that would lock in the independent contractor status of drivers. The companies said such a measure would help drivers by giving them flexibility, and Uber also began allowing drivers in California to set their own rates after the state passed a law requiring companies to treat contract workers as employees. Drivers thought the new flexibility was a sign of what life would be like if voters approved the ballot measure, Proposition 22.

Drivers were also given increased visibility into where passengers wanted to travel before they had to accept the ride. The ballot measure passed, before a judge overturned it.

The next year, the new options for drivers were rolled back. Drivers said they had lost the ability to set their own fares and now must meet requirements — like accepting five of every 10 rides — to see details about trips before accepting them.

bears little relationship to what drivers earn.

Whatever the case, courts in California could be more sympathetic to at least some of the claims in the complaint, the experts said.

gas prices have soared and as competition among drivers has started to return to prepandemic levels.

“It’s been increasingly more difficult to earn money,” said another plaintiff, Ben Valdez, a driver in Los Angeles. “Enough is enough. There’s only so much a person can take.”

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Uber, Lyft Drivers Struggle With High Gas Prices

When Adam Potash started driving for Lyft six months ago to help make ends meet, he was happy with the pay. The business was far from lucrative, but he was making about $200 a day before paying for costs like gas and car maintenance.

But as gas prices have risen in recent weeks, Mr. Potash has barely been breaking even. To compensate, he has focused on driving during peak customer hours and tried to fill up at cheaper gas stations in the area around San Francisco where he works. He has also reduced his driving time from about 45 hours each week to roughly 20 hours.

“It hurts. I don’t have money coming in,” Mr. Potash, 48, said of his reduced hours. “But I’m not willing to operate at a loss.”

Gig workers who drive for ride-hailing and delivery companies like Uber, Lyft and DoorDash have been hit hard by rising gas prices, because their ability to earn money is tied directly to driving hundreds of miles each week. And because the drivers are contract workers, the companies do not reimburse them for the cost of fueling up.

blog post on Monday.

DoorDash announced a gas rewards program on Tuesday. Those who use a prepaid debit card designed for DoorDash workers will get 10 percent cash back at gas stations, the company said, and DoorDash is adding bonus payments depending on miles driven. Grubhub also said it would boost driver pay.

Both Uber and Lyft say drivers have been making more money since lockdowns lifted than they did earlier in the pandemic or even prepandemic, even when accounting for rising gas prices. And both companies are promoting a partnership with an app called GetUpside that offers some cash back rewards for getting gas.

Gridwise, an app that helps drivers track their earnings and tallies data, found that drivers’ earnings had risen nationally in recent months, from an average of $308 per week in early January to $426 in early March. But gas costs for ride-hailing drivers have also gone up, from $31 per transaction to nearly $39 in the same period.

Uber and Lyft say the entirety of their new gas fees — 35 to 55 cents per trip for Uber and 55 cents for Lyft — will go to the drivers. But some drivers say the action is inadequate. Gas prices, on average, have increased 49 percent in the past year, according to AAA.

“That literally insulted every driver, and that was their first communication since gas prices were going up,” said Philippe Jean, an Uber and Lyft driver in Coopersburg, Pa.

Jennifer Montgomery, an UberEats driver in Las Vegas, where gas costs $5 per gallon, agreed that the gas fee “doesn’t even put a dent” in the cost of fuel, which for her has been at least $30 more each day since prices began to increase.

Ms. Montgomery, 40, said she was becoming disillusioned with the job, and had begun looking for other work that didn’t require her to drive. She has cut her six-hour, daily shifts in half, because “it’s really not a profit anymore.”

“I don’t want to deliver anymore,” she said. “Especially when you have bills to pay and rising cost of rent and mortgage, groceries — it affects everything.”

Mr. Jean mostly drives for Uber and Lyft during the winter and spring, when his work as a handyman tends to slow down. He said he enjoyed interacting with passengers and usually made $300 to $400 per week, with about $60 of that going to filling his tank.

Lately, though, Mr. Jean has been paying twice that amount for gas, and has had to cut back elsewhere to compensate — including by reducing his car insurance coverage.

“I’m driving Uber now hoping not to get in an accident, because if I do, I’m going to lose my car completely,” he said.

The gas price woes have actually caused Mr. Jean to drive more in the short term, because people with cars that get poor gas mileage have told him they have stopped driving. With his hybrid Toyota Prius, he figured he would be able to snap up some of their business and still be able to make some money. But Mr. Jean said he would most likely give up Uber altogether later in the spring when his handyman work picks up again, because of the high gas prices.

He questioned whether he or other drivers were even profiting from the ride-hailing business at all, after all of the costs involved.

“I think personally if I sat down and did the numbers, it would be break-even,” Mr. Jean said. “I don’t think we’re making money on it anymore. I think I’m afraid to admit it to myself, because then I would definitely stop doing it.”

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EXCLUSIVE Uber revamps driver pay algorithm in large U.S. pilot to attract drivers, article with image

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The Uber Hub is seen in Redondo Beach, California, U.S., March 25, 2019. REUTERS/Lucy Nicholson/File Photo

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Feb 25 (Reuters) – Uber Technologies Inc (UBER.N) is testing a new driver earnings algorithm in 24 U.S. cities that allows drivers to see pay and destinations before accepting a trip and raises the incentives for drivers to take short rides in an effort to attract more drivers.

The changes, which are currently in pilot programs, mark the most wide-ranging updates to Uber’s driver pay algorithm in years and come at a time when the company is still trying to win back drivers who left at the start of the pandemic. Fares paid by consumers are not affected.

Drivers have long demanded the ability to see the fare and destination before accepting a trip, but Uber has resisted, saying it could open the door to drivers cherry-picking trips or discriminating against riders in disadvantaged neighborhoods.

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Uber already has a similar program in California, launched in the wake of a 2020 state battle over gig worker rights to prove its drivers are independent contractors.

But the company said its latest fare pilot in the United States was not related to gig worker regulation. The test has been rolled out in cities across Texas, Florida and the Midwest where gig worker reforms are not on the agenda.

“Gig work is very competitive, not just with Lyft (LYFT.O) but other platforms, and we think this feature really enhances our platform’s competitiveness versus others,” said Dennis Cinelli, Uber’s head of mobility in the United States and Canada.

Cinelli said the pay changes at this point would not impact consumer prices, adding the changes “aren’t financial features.”

Uber declined to comment on the financial impact of the changes for the company, which could mean it has to incur higher costs for short trips.

Cinelli said the company had not seen any discrimination by drivers in California since the policy launched there in 2020.

“Otherwise, we wouldn’t have rolled it out at this time,” he said, adding that Uber had the ability to deactivate drivers who repeatedly declined trips based on race or low-income areas.

Providing drivers with upfront pay details meant the company also had to reduce earnings for longer trips to prevent drivers from avoiding short rides, Cinelli said.

Uber said data from some cities with upfront pay have shown a 22% average increase in driver earnings for trips in which the distance to the pickup location is longer than the trip itself.

Driver responses were mixed on some online groups. Some complained the new algorithm seemed arbitrary and no longer allowed them to calculate pay based on a per-mile (per-km) basis.

“My earnings are already destroyed by the high prices for gas and now Uber is taking even more money away from me on long trips,” said Kevin Hernandez, a Houston driver.

Other drivers in online groups said the upfront fare information allowed them to select only higher-paying rides, with several drivers sharing screenshots of increased earnings since the altered algorithm was launched.

Expansion will depend on drivers. “If we’re not seeing it attract and retain drivers we wouldn’t roll it out further,” Cinelli said.

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Reporting by Tina Bellon; Editing by Peter Henderson and Sandra Maler

Our Standards: The Thomson Reuters Trust Principles.

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Prepare Yourself for This Weekend’s ‘Crypto Bowl’

The crypto industry, which struggles with a reputation for being volatile, bad for the environment and overrun by wealthy tech guys, has tried to demystify itself for the general public in part by pouring money into marketing. Several ad experts said they had déjà vu, noting similarities to the gush of money dedicated to marketing the dot-com boom more than 20 years ago.

The number of crypto companies advertising more than tripled last year, and their spending more than quintupled, according to a sample of 200 companies reviewed by the research firm MediaRadar. The National Football League star Tom Brady signed on as a brand ambassador for FTX. Crypto.com paid $700 million to rename the Staples Center arena in Los Angeles. Celebrities including Spike Lee, Matt Damon and Neil Patrick Harris appeared in crypto commercials.

Meta, the parent company of Facebook, loosened a ban on crypto ads that had been in place at the social network since 2018, explaining in December that “the cryptocurrency landscape has continued to mature and stabilize in recent years.” Google also relaxed its crypto advertising guidelines over the summer.

Not everyone is sold. The Monetary Authority of Singapore, a financial regulator, said this year that crypto companies should stop advertising to retail investors because trading digital currencies is “highly risky and not suitable for the general public.” The Athletic, the sports news site recently bought by The New York Times, reported last year that the N.F.L. does not allow teams to sell sponsorships to cryptocurrency trading firms.

“The Super Bowl is low-effort — it’s fun, you’re in a relaxed mode, and then a crypto commercial comes on and it seems friendly and accessible and people might be more likely to give it a shot,” said Demetra Andrews, a clinical associate professor of marketing at Indiana University. “But it does present real risk, certainly more than trying out a new flavor of beverage or Uber Eats.”

Other technology ads will feature heavily in the Super Bowl, including sports betting ads (Caesars Sportsbook and DraftKings) and ads about the metaverse (Meta and Salesforce). Google has an ad centered on its Pixel 6 camera and diversity in photography. A commercial from the financial app and Super Bowl first-timer Greenlight shows the “Modern Family” actor Ty Burrell impulse-buying a Fabergé egg, a jetpack and a Pegasus.

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SoftBank’s Woes Are Mounting

For the past decade, SoftBank and its founder, Masayoshi Son, grabbed headlines mainly for the Japanese conglomerate’s eye-popping investments, becoming a fixture in the American technology scene by spending freely on start-ups and fundamentally reshaping how such companies had been funded.

There was the world’s largest tech investment fund. The billions of dollars pumped into WeWork, the co-working giant. And Mr. Son’s splashy purchase of one of Silicon Valley’s priciest homes.

Now, the bad news is piling up.

This week, SoftBank’s planned $40 billion sale of Arm, a chip designer, to Nvidia, the Silicon Valley chip maker, fell apart because of regulatory setbacks. Shares in a handful of big tech companies that SoftBank owns stakes in, from the Chinese internet giant Alibaba to DoorDash, the food delivery service, have plunged in recent months amid a wider sell-off in high-growth tech stocks. And one of Mr. Son’s key deputies, Marcelo Claure, left the firm in January after a bitter pay dispute — the latest senior executive to depart the firm in the past year.

The slump in SoftBank’s fortunes was reflected in its latest earnings report. The firm said that its quarterly earnings fell 97 percent from a year ago, although it managed to eke out a small profit of $251 million during the three months that ended on Dec. 31. SoftBank’s shares, which trade publicly in Tokyo, stayed relatively flat this week, although they are already down by more than half in the past 12 months, as investors grow increasingly wary of SoftBank’s big bets that haven’t paid off.

he purchased an estate in Woodside, Calif., for $117 million — one of Silicon Valley’s most expensive homes. He then bought a majority stake in the mobile carrier Sprint in 2013 for roughly $22 billion, installing Mr. Claure as chief executive the next year. Sprint later merged with T-Mobile.

that country’s crackdown on its tech giants. SoftBank owns stakes in both companies, which trade on U.S. exchanges although Didi plans to move its listing to Hong Kong. While SoftBank invested far below the initial public offering price of DoorDash, the online food ordering company — one of the best performing stocks in 2021 — is now trading around its I.P.O. price.

The share price of SoftBank’s biggest holding, Alibaba, has dropped by about 60 percent from its October 2020 high. SoftBank put more than $10 billion into WeWork, which went public last year and is now trading at less than $6 billion. And after the Arm deal with Nvidia collapsed, SoftBank plans to take the chip design company public instead.

“Even if they’re going through this pain at the moment, they’re still actually in the black,” Mr. Ferragu said of the firm’s latest results.

SoftBank has seen its share of internal turmoil, too. In recent months, at least four senior investors have left or announced plans to leave.

Last month, SoftBank also lost Mr. Claure, one of its most high-profile executives, following an acrimonious compensation battle. Mr. Claure, once a key deputy and close confidante of Mr. Son’s, had argued that his boss had promised to pay him $2 billion over several years for his current and future work.

Twitter post: “People don’t leave their jobs or their companies. They leave their bosses. Treat the people who work for you right.”

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