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Uber granted new 18-month London license after legal battle

The Yahoo Finance On The Move panel discusses Uber's victory in the UK courts and an extension on licenses.

Video Transcript

AKIKO FUJITA: Uber still has a number of legal hurdles it faces in California, in the UK as well. How much of the regulatory risk do you think this specific ruling in London removes for the company?

DAN HOWLEY: I think, obviously, it kind of puts it on more solid footing than before. There was constantly back and forth, obviously, in this situation between the TFL and Uber. Uber, by the way, doesn't have, as they point out, the best track record when it comes to working with cities. A lot of what they did in their original rollouts was to just kind of run roughshod over local officials and kind of put their organization in place in cities where otherwise they may not have been prepared for such an organization to set up. So this is kind of I think where we're at the point of Uber becoming more mature. We've seen that since Dara Khosrowshahi, he has taken over. They've become more of an established firm. Less of that, you know, kind of cowboy run and takeover mentality. In California, though, AB5, the bill that's supposed to treat the drivers for Uber and Lyft, by the way, as well as anybody in the so-called gig economy, as full time employees. That continues to be a problem for them and could be as it continues to move forward. We obviously saw threats from both Uber and Lyft to pull out of California entirely. They did that in certain cities in Texas before. So it's kind of their method to basically say, look, we can just leave if we have to. But clearly, there are certain cities that they desperately need, and London looks like it was really one of them.

AKIKO FUJITA: Yeah, and they still have that ballot initiative in California that's coming up for a vote in November about the classification of drivers, so to be continued for Uber.