China Summons Tech Giants to Warn Against Cooperating With Trump Ban

SAN FRANCISCO — The Chinese government this week summoned major tech companies from the United States and elsewhere to warn that they could face dire consequences if they cooperate with the Trump administration’s ban on sales of key American technology to Chinese companies, according to people familiar with the meetings. Held on Tuesday and Wednesday, the meetings came soon after Beijing’s announcement that it was assembling a list of “unreliable” companies and individuals. That list was widely seen as a way of hitting back at the Trump administration for its…

Uber’s First Earnings Report After I.P.O.: $1 Billion Loss

Uber’s shares, which have fallen from their $45 offering price, rose in after-hours trading on Thursday. Kathleen Smith, a principal at Renaissance Capital, which manages exchange-traded funds focused on I.P.O.s., said Wall Street had expected the losses and slowing growth because Uber had indicated them in its I.P.O. paperwork. “If Uber does nothing worse than it said, it may be a good result for them,” she said. The company’s results included some bright spots. Uber has a lengthy history of battling competitors in fierce price wars, offering subsidies to riders…

Uber Drivers’ Day of Strikes Circles the Globe Before the Company’s I.P.O.

A day of strikes planned by Uber drivers in cities around the world drew a modest turnout on Wednesday, as protesters denounced the ride-hailing giant’s employment and pay practices before its blockbuster initial public offering this week. In Britain, some drivers, joined by members of other unions, protested at Uber offices around the country. About two dozen protesters outside the British headquarters in East London banged drums; released a smoke flare; displayed banners that read, “Uber sell off: Billions to bosses, poverty pay for drivers”; and chanted, “Uber, Uber, you…

They Got Rich Off Uber and Lyft. Then They Moved to Low-Tax States.

Although Mr. McMullen has now not worked for seven months and jokes with friends about being semiretired, he said he plans to work again. “The idea of retirement as sitting on a sandy beach somewhere, I don’t think is on any millennial’s mind,” he said. Instead, he added, his generation is focused on seeking fulfillment, searching for the kind of career that doesn’t feel like work. His goal was to “realign life,” he said. Before leaving San Francisco, Mr. McMullen had drinks with another former Uber employee — Alex Priest,…

Lyft’s Shares Jump in Trading Debut, Cementing Rise of the Gig Economy

SAN FRANCISCO — Owning a piece of the gig economy became a reality for millions on Friday when Lyft began trading on the public markets, signaling the start of a stream of stock offerings expected from high-profile technology companies this year. Lyft’s shares rose 8.7 percent in its first day of trading after opening at $87.24, far above the public offering price of $72. By the end of the day, the ride-hailing firm’s market value stood at $26.4 billion, making it one of the most valuable American companies to go…