Uber has lost its license to operate in London

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Uber has lost its license to operate in London, dealing a massive blow to the beleaguered-yet-hugely-popular taxi hailing app company.

The company's current license to operate in the British capital expires on 30 September. Its drivers can operate until that date, but has only 21 days to appeal the ruling.

Transport for London said that the company was not a “fit and proper” operator in its ruling, stating that “Uber’s approach and conduct demonstrate a lack of corporate responsibility”, particularly in policing its drivers.

Thousands of drivers in limbo

Uber has more than 40,000 drivers on its books in London, with 3.5 million Londoners using the app to hire cars. 

While it's been praised for its ease of use, GPS-based pick-ups and affordable fares, Uber has regularly faced criticism from London's traditional black cab services, who argue that Uber's financial practices prevent a fair competitive market. 

This is a breaking story. We will update as new details emerge.

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