Uber loses key legal fight, which could hurt its business model in the U.K. and hit gig economy firms

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Uber faces legal action threat — this time from drivers of London’s distinctive black cabs


Uber lost a key court ruling on Friday, which could hurt its business model and move the stock in one of its biggest international markets.

The U.K.’s Supreme Court has decided that drivers of the ride-hailing app should be classified as workers, which means they are entitled to holiday pay and the minimum wage.

The crucial ruling has broad implications for the gig economy and could mean Uber
UBER,
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faces large compensation claims.



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