Uber faces new roadblock in New York on its way to IPO

SAN FRANCISCO — Uber will have to navigate around a new regulatory pothole in New York on an already bumpy road to its initial public offering of stock next year.

New York City is imposing a one-year moratorium on new ride-hailing licenses in Uber's largest U.S. market, raising the specter that other cities may adopt similar crackdowns as they try to ease traffic congestion.

If that were to happen, it would be more difficult for Uber to boost its revenue and reverse its history of uninterrupted losses. That, in turn, would affect the price that investors are willing to pay for Uber's stock in the IPO that the San Francisco company plans to make next year.

Uber maintains that New York's moratorium is a bad idea.

You may also like these

Qantas bends to Beijing by describing Taiwan as...

Jun 5, 2018

Australia's foreign minister has expressed concern at Qantas Airways' decision to describe Taiwan...

Usain Bolt to make run at pro soccer in Australia

Jul 17, 2018

Trading spikes for boots, Usain Bolt ready to make run at pro soccer in Australia

Australia bans Huawei from 5G network over...

Aug 23, 2018

Chinese-owned telecommunications giant Huawei has been blocked from rolling out Australia's 5G...

Global stocks, oil turn lower ahead of Fed meeting

Aug 22, 2016

Major stock markets and the price of oil turned lower on Monday as investors looked ahead to the...

Britain's May seeks out new trading relations...

Sep 4, 2016

British Prime Minister Theresa May says she intends to seize new trading opportunities for a...

Search
Financial Markets

About Us

Established in 2015, The Upstocker provides insights on financial reports, commentary, and investment data to traders so that you can make better investment decisions.

Contact us: sales[at]theupstocker.com

Subscribe Now!