World Bulletin / News Desk
Uber on Thursday launched a new service in the U.S. called Uber Freight, an app that connects truck drivers with shippers needing to move big loads.
Professional trucking services -- companies and independent truckers - are now able to use the app to find nearby loads that need to be moved across a distance.
“We take the guesswork out of finding and booking freight, which is often the most stressful part of a driver’s day,” Uber said in a statement. “What used to take several hours and multiple phone calls can now be achieved with the touch of a button.
“Vetted users download the app, search for a load, and simply tap to book it. We send a rate confirmation within seconds, eliminating a common anxiety in trucking about whether or not the load is really confirmed.”
The app, available for Android and iOS devices, is very similar to the Uber app. The company said that it will vet all truckers who sign up for the service.
Silicon Valley has turned its attention to disrupting the freight industry. Industry experts estimate trucking is a $255.5 billion per year field.
Late last year, reports were released that said Amazon is working on an on-demand freight service, while a whole class of start-ups are focused on building self-driving long-haul trucks.
Uber Freight will be a telling bellwether for the tech industry’s ability to profit off overland freight.
“We fundamentally believe that by focusing on drivers’ pain points we can solve the industry’s biggest challenges,” the company said. “Happy drivers means (sic) happy shippers, and ultimately everyone benefits, including the end consumers of the goods.”
In the past six months, Uber has been rocked by a series of scandals, including reports of sexual harassment amongst employees and secretive programs used to skirt local government regulations.
The ridesharing company hopes Uber Freight will be a lucrative venture beyond its original app. Other projects, like food delivery service UberEATS and corporate travel service Uber for Business, have not been nearly as successful as the standalone app.
Analysts said that while the downturn in the headline readings was disappointing, the economy continued to put in a strong performance.
Crude prices stabilised after diving more than two percent on Tuesday on increasing fears of a global supply glut, as continued production in the US and elsewhere offsets an OPEC output cut deal.
Move estimated to save company $1B in investment costs
However, most other regional markets struggled after Monday's healthy gains, despite being given a positive lead from Wall Street where the Dow and S&P 500 closed at fresh record highs.
The purchase in one fell swoop gives Amazon, which until now has operated almost entirely on the internet, a big presence in the brick-and-mortar world on Main Street, with more than 450 stores in the US, Canada and Britain.
"The Bank of Russia Board of Directors decided to cut the key rate to 9.00 percent per annum," the bank said in a statement. The cut follows a half-point decrease in late April.
Equity traders have suffered a fraught week as the crisis engulfing Donald Trump picks up pace, technology firms tumbled from recent highs and energy plays were hammered by plunging oil prices.
"In May 2017, passenger car registrations across the EU increased by 7.6 percent to 1.387 million units," ACEA said in a statement.
In the eurozone, Frankfurt's DAX 30 index climbed 0.4 percent to 12,746.05 points, and the Paris CAC 40 gained 0.5 percent to 5,243.53 compared with the close on Thursday.
Eastern Mediterranean gas deposits discussed at high-level meeting in Thessaloniki
While a "rebalancing of the market" was "underway," it was "at a slower pace than originally anticipated," the Organization of Petroleum Exporting Countries wrote in its latest monthly oil market report.