BOLDUAN: This morning, one major city is telling Uber it can no longer operate on its streets anymore. London transit officials refusing to renew Uber's license. CNN business reporter, Alison Kosik, joins me with more on this. Alison, what is happening?</s>ALISON KOSIK, CNN BUSINESS CORRESPONDENT: OK, the difference that's happening now is because this has happened before. It's turning into a matter of confidence. This is the second time Uber has had its operating license in London taken away. And now the transportation regulator is losing confidence in the company. And the city is questioning whether Uber has the processes in place to avoid another serious safety breach in the future. The regulator is saying there are egregious things Uber is doing, listing a pattern of failures that put passenger safety and security at risk. The breaches including stunning vulnerabilities in the app. There have been 14,000 trips involving unauthorized, uninsured drivers, who have actually uploaded their photos to the accounts of other Uber drivers allowing them to pick up passengers as if they're the booked driver. Now Uber is calling the decision wrong. It's appealing this decision. Meantime, Uber can continue to operate in London while the case is being heard. But this is a major gut punch for Uber. If this ban winds up sticking, some analysts are saying this could be a seismic blow to Uber's European operations. Right now, we're not seeing a huge movement in the stock. The stock is down only about 1 percent.</s>BOLDUAN: Because that's a huge account.
Uber Loses License in London Over Safety Concerns.