Uber Technologies Inc and Lyft Inc are preparing to suspend their ride-hailing services in California beginning on Friday morning unless an ...
REUTERS: A California appeals court on Thursday halted a lower court order that would have forced Uber Technologies Inc and Lyft Inc to treat their drivers as employees, paving the way for the companies to avoid a shutdown of ride services in the state.
The companies had said they would be unable to comply with a new law that would consider their drivers employees entitled to benefits such as minimum wage, overtime and sick pay and unemployment insurance.Lyft shares were up almost 9per cent after the last-minute ruling, and Uber shares were up 6.4per cent.
The companies had sought the intervention of the California First District Court of Appeal in San Francisco to block an injunction order issued by a judge last week. That ruling forced the companies to treat their drivers as employees starting Thursday after midnight.
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