Uber wins back right to operate in London

Uber has won back the right to restore its London operating license, which was previously taken away by the city's transport regulator over safety concerns.

A judge ruled on Monday (September 29) that Uber was “a fit a proper operator” and said it will receive an 18-month operating license in the UK capital, after winning the appeal.

Transport for London refused to grant the Silicon Valley-based company a new license in 2017 and 2019 due to what it called a "pattern of failures."

Uber argued it has since addressed those concerns over insurance verification and driver identification.

It has also apologized for past mistakes, but has run into regulatory barriers and faced a backlash in other countries as well, leading to a withdrawal from some markets.

Monday's news was met with anger by the association representing London’s black cab drivers, who labelled the decision a "disaster" for the city.

London Mayor Sadiq Khan warned that regulators will be closely monitoring Uber, and says they are ready to take action if standards should fall.

Shares in Uber rose 6% in pre-market U.S. trading after the licence announcement.