THE NEWS WRAP: Uber SLOGS its competitors

Uber is giving teams of independent contractors burner phones and credit cards as part of a sophisticated effort to undermine Lyft and other competitors, The Verge reports.

Interviews with current and former contractors, along with internal documents obtained by The Verge, outline those methods.

Using contractors it calls “brand ambassadors” Uber requests rides from Lyft and other competitors, recruits their drivers, and takes multiple precautions to avoid detection.

The program known as “SLOG” has resulted in thousands of cancelled Lyft rides and made it more difficult for competitors to gain a foothold in new markets.

Apple CEO defends Tablets

Last month it was reported that tablet sales were crashing, which lead to some commentators to argue that the tablet boom was over.

Apple CEO Tim Cook disagrees.

In a brief interview with Recode’s Walt Mossberg Cook says he couldn’t be happier with the first four years of the iPad.

“I’d call what’s going on recently a speed bump, and I’ve seen that in every category,” he says.

Instagram releases Hyperlapse

Instagram has launched one of its first apps outside of Instagram itself – Hyperlapse.

The app makes it easy for users to use their phones to create tracking shots, and fast time-lapse videos.

The app is currently only available on iOS but Instagram hopes to develop an Android version soon.

Overnight

The Dow Jones Industrial Average is up 29.83 to 17,106.70. The Australian Dollar is currently trading at US93 cents.