Market Overview

Report: Uber, Lyft In Talks With California Governor On Gig Economy Workers

Report: Uber, Lyft In Talks With California Governor On Gig Economy Workers

Uber Technologies Inc (NYSE: UBER) and Lyft Inc (NASDAQ: LYFT) shares have been trading higher following reports that the California state Senate has passed a bill that will reshape how the companies do business.

The legislation is known as “Assembly Bill 5” and would require gig economy workers to be reclassified as employees instead of contractors.

California Gov. Gavin Newsom said he still hopes to make deals with the companies and is still in talks with the two companies, The Wall Street Journal reported.

Lyft shares were up 3.63% at $47.10 at the time of publication Wednesday, while Uber shares were higher by 1.76% at $34.10. 

Related Links:

Lyft Names New Chief Accounting Officer

Uber's Request For Tariff Relief Denied By US Trade Rep

Photo via Wikimedia

Posted-In: ride-hailing Wall Street JournalNews Politics Media General Best of Benzinga


Related Articles (UBER + LYFT)

View Comments and Join the Discussion!
Fastest Market News Application
You'll Hear It First On Pro
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Trading Daily
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at

Pilot Program At Border Crossings In Arizona & California

Shipping Cyber Terrorism Threat Heightened By Digitalization