Uber loses its licence to operate in London

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A user scans for an available vehicle using the Uber's app on a smartphone in London.

London's transport regulator on Friday stripped Uber of its license to operate from the end of the month, affecting over 40,000 drivers in a huge blow to the taxi app.

"TfL considers that Uber's approach and conduct demonstrate a lack of corporate responsibility in relation to a number of issues which have potential public safety and security implications," Transport for London said on Friday.

The final day of Uber's license will be on Sep. 30.

In London, the firm has faced criticism from unions, lawmakers and traditional black cab drivers over working conditions.

Uber has the right to appeal the decision within 21 days.

CNBC

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