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London Unexpectedly Revokes Uber's Operating License

In a stunning blow to the world's most valuable private company (purportedly worth some $70 billion), London's taxi and livery car regulator has said it won't renew Uber's operating license once it expires at the end of the month. The regulator said Uber "is not fit and proper to hold a private hire operator license."

"TfL considers that Uber's approach and conduct demonstrates a lack of corporate responsibilit in relation to a number of issues which have potential public safety and security implications. These include:

It's approach to reporting seriouis criminal offences.
It's approach to how medical certificates are obtained.
It's approach to how Enhanced Disclosure and Barring Service (DBS) checks are obtained.
It's approach to explaining the use of Greyball in London, software that could be used to block regulatory bodies from gianing full access to the app and prevent officials from undertaking regulatory or law enforcement duties."



TfL has today informed Uber that it will not be issued with a private hire operator licence. pic.twitter.com/nlYD0ny2qo

— Transport for London (@TfL) September 22, 2017

Uber now has 21 days to appeal the decision. We imagine the company will be out with a response soon.

In a statement to the Financial Times, London Mayor Sadiq Khan said: London mayor Sadiq Khan said: "All companies in London must play by the rules and adhere to the high standards we expect – particularly when it comes to the safety of customers. Providing an innovative service must not be at the expense of customer safety and security. I fully support TfL's decision."

This is a developing story. Check back fro more details
http://www.zerohedge.com/news/2017-09-22/london-unexpectedly-revokes-ubers-operating-license?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29