Uber Lost $1.27 Billion in Six Months, Kroger Undercuts Walmart

Uber may not be the money-making machine that investment bankers claim it is. The transportation app company lost more than $750 million in second quarter 2016 and $1.27 billion in the first half of 2016, Bloomberg reported.

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Kroger’s Threat to Walmart, Target, Costco and Amazon Revealed

The Marketplace is also a potential threat to Amazon because it could be used as a combination store and fulfillment center; something that Kroger’s King Soopers subsidiary is already experimenting with in Denver. I’ve actually been shopping there and seen employees pulling online orders from the shelves.

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Nissan Unveils Impressive Autonomous Car

Renault-Nissan (OTC: NSANY) and Ford Motor Company (NYSE: F) have unveiled impressive new technology that is raising the stakes in the autonomous car wars.

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All New Cars will be Self Driving by 2025

If that prediction is true auto insurance costs could drop by as much as 80% because accidents are the main risk ensured for. By the year 2040 your auto insurance bill could be $10 or $15 a month for a brand new car!! Naturally that won’t do Progressive (NYSE: PGR) and Allstate’s (NYSE: ALL) profit margins much good.

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Uber Claims It Is Attracting One Million Riders a Day in China

If China does not prove to be the bonanza that Kalanick boasts it is, Uber could quickly collapse as investors run away from it. China could be the proving ground where Uber shows whether it is the future of technology or simply a pyramid scam built on a mountain of debt.

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Google Could Revolutionize Auto Insurance

Entering auto insurance would make a lot of sense for Uber because insurance has been one of the barriers blocking drivers from adopting its service. Some communities, like Kansas City, Missouri, have even banned Uber because of inadequate insurance. Offering insurance could remove that barrier and defuse one of the taxi cab industry’s main objection to Uber.

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Florida Declares Uber Driver Employee

Uber’s worst nightmare might have just come true in the Sunshine State. The Florida State Department of Economic Opportunity ruled that a former Uber driver named Darrin McGillis was an employee and not an “independent contractor.”

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Uber and Lyft Drivers Accused of Abusing Disabled Passengers

An Austin, Texas, resident named Demetrious Kourniaris was left standing out in the sun in temperatures of over 100 degrees because Uber drivers refused to transport him and his guide dog on two separate occasions. To add insult to injury, Uber charged Kourniaris cancellation fees on both occasions.

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