A wave of state laws allowing Uber and Lyft drivers to unionize is spreading across the country, marking one of the most significant shifts in labor rights for gig workers since ride-hailing apps first launched more than a decade ago.

Massachusetts became the first state to open the door to rideshare unionization in 2024, when voters approved a ballot measure creating a framework that lets drivers organize and bargain collectively while remaining classified as independent contractors rather than employees. California followed in January, giving an estimated 800,000 rideshare drivers in the state the right to form a union. Illinois became the third state to pass such legislation on June 1, extending similar rights to the state’s roughly 100,000 Uber and Lyft drivers.

A historic certification in Massachusetts

The movement reached a major milestone this spring when Massachusetts drivers organized what labor advocates are calling one of the most significant labor wins for independent workers in decades. The certification, made possible under the state’s 2024 framework, could ultimately represent nearly 70,000 drivers statewide through the newly formed App Drivers Union.

For drivers who backed the effort, the moment carried deep personal significance. Jean Fredo, who has driven for Uber for more than seven years, said he hopes the union will bring better pay, stronger protections against sudden deactivations and greater overall stability for drivers. “With the union, it will not feel like we’re working for nothing,” Fredo said, speaking through a translator.

Fellow driver Alfred Potter, who took part in organizing efforts, described the years-long push toward unionization as “still no more than a dream” for much of the process, reflecting how long the effort took to reach certification after the 2024 ballot measure passed.

California drivers see a similar path

In California, the nation’s second state to grant rideshare drivers union rights, organizing is still in its early stages, with the earliest possible vote on unionization set for May. Sangar Khan, who drives for Uber and Lyft out of the Bay Area, said he believes unionization could benefit drivers financially. “I think the union is good for drivers, and maybe they pay more,” Khan said, describing frustration with what he sees as a large gap between what riders pay for trips and what drivers ultimately take home.

Uber and Lyft did not agree to interviews on the California law, though Uber has previously said its support for expanding union rights in the state was tied to separate legislation that reduced the company’s insurance costs by lowering requirements for underinsured drivers.

A pattern with deep roots

The current wave of state-level unionization laws traces back to Seattle, which in 2015 became the first city in the country to pass an ordinance allowing rideshare drivers to organize, a move city officials framed at the time as an effort to protect workers and balance bargaining power between drivers and ride-hailing companies. Uber and Lyft challenged that ordinance in court, arguing that federal labor law prohibited cities from regulating collective bargaining and that allowing drivers to collectively negotiate rates could violate federal antitrust law.

More than a decade later, the legal and political landscape has shifted considerably, with state legislatures and voters, rather than individual cities, now driving the expansion of union rights for gig workers, sidestepping some of the legal challenges that stalled earlier municipal efforts.

Critics warn of rising costs

Not everyone views the trend favorably. Critics, including some free-market policy researchers, argue that sector-wide labor rules risk increasing costs for both drivers and riders alike, warning that expanded bargaining rights could push ride-hailing companies to raise fares to offset higher labor costs, similar to price increases seen following minimum wage mandates in the food delivery industry.

Opponents of mandatory unionization have also raised concerns about drivers who prefer to remain fully independent, arguing that collective bargaining agreements could bind drivers to terms they did not personally support and potentially reduce the flexibility that has long been a defining feature of gig work. Some critics have specifically warned that the expansion of gig worker unionization moves the industry incrementally closer to traditional employment classification, even as most current laws are structured to preserve independent contractor status.

Automation adds urgency

The push toward unionization is also unfolding against the backdrop of rapid advances in autonomous vehicle technology, which some labor organizers view as an additional reason to secure stronger protections for drivers now, before self-driving technology potentially reshapes the ride-hailing industry. Advocates argue that unionized drivers will be better positioned to negotiate protections, or transition support, if autonomous vehicles begin displacing significant numbers of human drivers in the coming years.

With Massachusetts, California and Illinois now serving as models for rideshare unionization, labor organizers say they expect additional states to consider similar legislation in the coming years, particularly as ride-hailing companies continue to expand their footprint across the country. Whether the trend ultimately benefits drivers through improved pay and job security, or raises costs for riders and limits flexibility for the independent contractors who make up the rideshare workforce, remains a central point of disagreement between labor advocates and industry-aligned critics.

For now, the expansion of union rights for gig workers marks one of the most closely watched labor developments in the ride-hailing industry since it first emerged more than a decade ago, with millions of drivers across the country now positioned to weigh in on whether collective bargaining becomes a permanent fixture of gig work.

Market would allow existing shareholders to sell part of their vested equity to buyers

A British brewery has drawn up plans to become the first company to join Asset Match’s new private markets platform as it continues to look to attract unlisted firms.

The online private stock market has welcomed Wiltshire-based brewer and pub operator Wadworth to its Private Intermittent Securities and Capital Exchange System (Pisces), enabling existing shareholders to offload a portion of their equity stake to prospective buyers.

Participants will be able to access company reports and auction details on August 4. Buyers and shareholders can submit orders during Wadworth’s first trading window of 11 August to 30 September, as reported by City AM.

Established in 1875, Wadworth has traded its A ordinary shares, a class of company equity which typically carries voting rights, on the Asset Match platform since February 2023.

The brewer, renowned for its range of traditional ales such as 6X, has traded more than 300,000 shares to date.

Ben Weaver, business development director at Asset Match, said the PISCES auction “represents the first opportunity” for a broader pool of investors to acquire shares in Wadworth.

Weaver said: “We believe there is strong investor appetite for established private companies with recognised brands, tangible assets and long-term growth potential.

“We expect Wadworth inaugural PISCES auction to attract significant interest.”

Simon Townsend, chairman of Wadworth, said the transaction would “broaden awareness of the company” among investors. Gaining traction.

Asset Match received its Pisces approval from the Financial Conduct Authority in April, and the flotation of Wadworth represents the first real test of whether the exchange can deliver liquidity to shareholders.

The platform must now persuade other firms seeking to unlock value without a full listing to choose their service over rivals JP Jenkins, Vestd and London Stock Exchange Group.

London’s platform welcomed fintech Moneybox last month, confirming a £45m employee share sale, alongside autonomous driving company Wayve in a substantial £63m employee share sale.

JP Jenkins has similarly onboarded just one company under its framework to date, completing the transaction of digital board game developer QPLAY in March. Vestd is yet to attract a single company to list on its framework.

Operator

Hello everyone. Thank you for joining us and welcome to the EverQuote Second Quarter 2026 Earnings Call. [Operator Instructions] I will now hand the conference over to [ Sara Buda ], Vice President of Investor Relations. Please go ahead.

Sara Buda

Thank you. Good afternoon, and welcome to EverQuote’s Second Quarter 2026 Earnings Call. We will be discussing the results announced in our press release issued today after market close. With me on the call this afternoon are Jayme Mendal, EverQuote’s CEO; and Joseph Sanborn, EverQuote’s CFO and Chief Administrative Officer.

During this call, we may make statements related to our business that may be considered forward-looking statements under federal securities laws, including statements considering our financial guidance for the third quarter of 2026. Forward-looking statements may be identified with words and phrases such as aim, expect, believe, intend, anticipate, plan, will, may, continue, upcoming, and similar words and phrases. These statements reflect our views only as of today and should not be considered our views as of any subsequent date. We specifically disclaim any obligation to update or revise these forward-looking statements except as required by law.

Forward-looking statements are subject to a variety of risks and uncertainties that could

Kevin Durant has weighed in on one of the NBA’s most talked-about roster overhauls, saying he believes the newly reshaped Philadelphia 76ers, now led by LeBron James, are a stronger team than the historic Golden State Warriors squad he helped build nearly a decade ago.

Durant shared his assessment in a series of comments on Instagram, comparing the Sixers’ revamped roster — which now includes James, Joel Embiid, Tyrese Maxey and Jaylen Brown — to the 2017 Warriors team that featured Durant alongside Stephen Curry, Klay Thompson and Draymond Green. That Golden State squad went on to dominate the league, winning back-to-back championships and beating James’ Cleveland Cavaliers in both the 2017 and 2018 NBA Finals.

A superteam comparison a decade in the making

Durant’s comments arrive roughly 10 years after his own move sent shockwaves through the league. In 2016, Durant left the Oklahoma City Thunder to join a Warriors team that was already coming off a record-setting 73-win regular season, a decision that drew heavy criticism at the time for what many viewed as an unfair concentration of talent. With Durant added to the mix, Golden State became nearly unbeatable, reaching three straight NBA Finals and claiming back-to-back titles while cementing the group as one of the most dominant runs in modern NBA history.

Now, with James stunning the basketball world by signing with Philadelphia for his 24th NBA season, Durant has drawn a direct line between that historic Warriors run and the Sixers’ newly assembled roster, suggesting the current Philadelphia group may have even more talent on paper than the team he once helped construct.

Durant pushes back on critics

Durant’s comments were not limited to praising the 76ers. He also addressed how his own basketball opinions are often received by fans, particularly those who remain critical of his decision to join Golden State in 2016. Durant suggested that a segment of James’ fan base reacts emotionally to his commentary regardless of its substance, saying that “yall never pay attention to what I say, just respond emotionally.”

The remark reflects a familiar tension in Durant’s public relationship with James’ fan base, which has often accused him of undermining James’ legacy by teaming up with a rival superteam rather than building a championship roster independently. Durant has periodically addressed those criticisms throughout his career, and his latest comments suggest he continues to view much of the reaction to his basketball opinions through that lens.

A roster built around aging stars and new pieces

Philadelphia’s roster overhaul this offseason has been one of the most significant in the league, anchored by James’ decision to leave the Los Angeles Lakers and sign with the Sixers alongside Embiid, who has struggled with knee injuries in recent seasons. The team also added Brown via a trade with the Boston Celtics, giving Philadelphia a third proven scorer and playoff performer to pair with Maxey, the team’s rising All-Star guard, and VJ Edgecombe, a young player the organization has increasingly built around.

On paper, the combination of James’ scoring and playmaking, Embiid’s interior presence when healthy, Brown’s two-way ability and Maxey’s speed gives Philadelphia one of the most talented rosters in the Eastern Conference heading into the 2026-27 season. Whether that talent translates into the kind of dominance Durant’s Warriors teams displayed remains an open question, particularly given James’ age and Embiid’s injury history.

Not the first time Durant has drawn the comparison

This is not the first time Durant has compared the new-look Sixers to his old Warriors squad. In earlier remarks, Durant similarly likened Philadelphia’s roster to the Golden State superteam, suggesting the comparison has been on his mind since James’ decision to join the 76ers became official. The repeated comparison has added another layer to the ongoing discussion around James’ move, with fans and analysts continuing to debate whether the pairing of James, Embiid, Brown and Maxey can realistically contend for a championship this season.

A question mark hanging over the season

Despite Durant’s assessment, significant uncertainty remains around Philadelphia’s ability to live up to the lofty comparison. James, now 41 years old, enters the season having played more NBA games than any player in league history, while Embiid’s recent seasons have been repeatedly interrupted by knee problems that have limited his availability and effectiveness. Whether the Sixers can keep their new core healthy and cohesive through an 82-game season and a demanding playoff run will likely determine whether Durant’s prediction holds up.

The comparison also raises broader questions about roster construction in today’s NBA, where aging superstars increasingly join forces with existing contenders late in their careers in pursuit of one more championship run, echoing the dynamic that defined Durant’s own move to Golden State nearly a decade ago.

As the 2026-27 season approaches, Philadelphia’s roster will face intense scrutiny from analysts and fans alike, many of whom remain skeptical that a team built around James at this stage of his career, alongside an oft-injured Embiid, can match the sustained dominance of Durant’s Warriors dynasty. Others have pointed to the Sixers’ depth of talent as reason for optimism, arguing that the addition of Brown and the continued development of Maxey and Edgecombe give Philadelphia a more balanced roster than some of James’ previous title contenders.

For now, Durant’s comments have added another storyline to what was already shaping up to be one of the most closely watched seasons in recent NBA memory, with James’ arrival in Philadelphia continuing to generate debate across the league even before the Sixers have played a single regular-season game together.

Shares of The Great Eastern Shipping Company (GE Shipping) witnessed strong buying interest on Tuesday, climbing 9% to Rs 1,523.40 after the company reported robust financial performance for the first quarter of FY27. The shipping major posted a sharp jump in profitability, with consolidated net profit more than doubling year-on-year, supported by strong revenue growth.

GE Shipping’s consolidated net profit for Q1FY27 increased 160% to Rs 1,309 crore, compared with Rs 505 crore in the corresponding quarter last year. Revenue from operations also recorded a significant 67% year-on-year growth, rising to Rs 2,005 crore from Rs 1,201 crore in Q1FY26.

The company’s strong quarterly performance reflects improved operating momentum and a favourable environment for the shipping sector.

Dividend announcement adds to investor sentiment

Along with its quarterly results, GE Shipping announced an interim dividend of Rs 14.40 per share for FY27. The company has fixed August 7, 2026, as the record date to determine eligible shareholders for the dividend payout. The interim dividend will be distributed to shareholders on or after August 27, 2026.

Stock performance and key technical indicators

Following the earnings announcement, GE Shipping shares rallied 9% during Tuesday’s trading session. The stock has delivered an impressive return of around 51% over the past one year. The company currently commands a market capitalisation of approximately Rs 19,964 crore, while its 52-week high stands at Rs 1,798.

From a valuation standpoint, GE Shipping continues to trade at attractive levels, with the stock currently commanding a Price-to-Earnings (P/E) ratio of 6.55, a Price-to-Sales (P/S) ratio of 3.73, and a Price-to-Book (P/B) ratio of 1.14. These valuation metrics indicate that the stock is available at relatively reasonable multiples compared with its earnings, revenue, and book value.
On the technical front, the stock’s 14-day Relative Strength Index (RSI) stands at 48.3. An RSI below 30 generally indicates oversold conditions, while levels above 70 suggest overbought territory. The stock is currently trading above all eight key Simple Moving Averages (SMAs), indicating a positive technical trend.The company witnessed increased participation from foreign institutional investors (FIIs) during the June 2026 quarter. FII holding in GE Shipping rose to 31.03% from 28.44% in the previous quarter. Meanwhile, mutual fund ownership declined to 11.98% from 14.72% during the same period.

With strong earnings growth, improving investor sentiment, and positive technical signals, GE Shipping remains among the stocks attracting market attention after its Q1FY27 performance.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)