To avoid the future revoking of license, Uber added new safety features to its platform and made a deal with GMB to finally recognize the labour union for its private hire drivers. The company also reclassified all its U.K. drivers as workers last year, because country’s top court said that a group of drivers should be treated as workers and not as private contractors, entitling them to employment protections like a minimum wage, paid holiday and pensions.

The license for operating in London was a high priority for the company, because it is its largest European market and came at the right time, because Uber faced some difficulties because of rising inflation, labour shortage and surging energy prices. That is why Uber raised prices in London for 10%.

Movement of Uber since stocks are on the market. (Source: Trading Economics)

Sources:

https://tradingeconomics.com/uber:us

https://www.cnbc.com/2022/03/26/uber-wins-30-month-london-license.html

https://money.usnews.com/investing/news/articles/2022-03-26/uber-secures-london-license-for-two-and-half-years

https://www.reuters.com/world/uk/uber-secures-london-license-two-half-years-2022-03-26/

https://finance.yahoo.com/news/uber-secures-london-license-two-162620527.html