Uber has lost its licence to operate in London

Uber London

Uber has lost its licence to operate in London, the capital's transport regulator has said.

Transport for London announced that Uber would not be issued with a private hire operator's licence once its current licence is up on 30 September.

It's a major blow for the ride-hailing company, which is hugely popular among Londoners. The city is its biggest market in the UK. There are around 40,000 registered drivers in the capital, according to the firm's own figures. And its UK arm reported £1.83 million in profit in 2015, according to its most recent accounts.

Transport for London granted Uber a four-month operator's licence in May, while it made a decision about a longer five-year licence.

But there has been growing pressure on the regulator from black cab driver groups, former Uber drivers, and politicans to ban Uber from London.

They complained that Uber treats drivers poorly, undercuts the black taxi trade, and doesn't pay enough tax in the UK. They also cite the firm's toxic corporate culture in the US, which resulted in a change of CEO and massive upheaval at board level this year.

A new licence isn't the only challenge Uber faces. Next week, the company will appeal a November tribunal ruling which determined its UK drivers are "workers", not self-employed. That means they are entitled to minimum wage and holiday pay — something that could considerably dent Uber's bottom line in the UK.

This is a developing story...

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