As a global financial centre and one of the largest cities in the world, London is one of the more important markets for Uber’s ride-sharing platform.

But in another headache for the company, the powers that be in the Old Dart just said: no dice.

Transport for London has ruled that Uber is not “fit and proper” to hold a transport licence. In making its decision, the regulatory authority highlighted an ongoing lack of compliance around fraudulent drivers.

It said unauthorised drivers had conducted more than 14,000 uninsured trips on the Uber platform. The company has been given three weeks to appeal the ban, and says it plans to do so.

As it happens, this isn’t Uber’s first run-in with UK regulators. The platform was previously banned in 2017, but won back a 15-month licence in the middle of last year after a two-day court battle.

Speaking of regulators, AUSTRAC’s investigation into Westpac has just claimed the scalps of the bank’s two head honchos, with Brian Hartzer (CEO) and Lindsay Maxsted (chairman) both agreeing to step down this morning.

Westpac shares rose on the news, and the ASX200 was up almost 0.8 per cent heading into midday trade at 6,784.90 points, after a strong lead from US markets.

The ASX Small Ords followed the big end of town higher, posting a 0.55 per cent gain to 2,887 points.

 

GOING UP

It’s shaping up as a big week for medtech platform Simavita (ASX:SVA), which has more than doubled in morning trade to 7.1c.

At 2:30pm EST yesterday, the stock was 0.5c. So in less than four trading hours it’s posted an overall gain of more than 1,300 per cent — not bad.

The catalyst for that stratospheric rise was a big regulatory win in Europe, after the company received CE Mark certification for the Smartz nappy-sensor technology that it licences to the European market.

Here are the best performing ASX small cap stocks at 11:45am on Tuesday, November 26:

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Code Name Price % Chg Market Cap
VMG VDM Group Ltd 0.0025 +150.00% $17.3M
SVA Simavita Ltd 0.07 +131.03% $30.5M
GLV Global Vanadium Ltd 0.002 +100.00% $6.3M
BNL Big Star Energy Ltd 0.0075 +50.00% $4.4M
MLS Metals Australia Ltd 0.0015 +50.00% $4.8M
MTB Mount Burgess Mining NL 0.003 +50.00% $1.6M
ROG Red Sky Energy Ltd 0.003 +50.00% $4.7M
TSC Twenty Seven Co Ltd 0.006 +33.33% $7.3M
BOC Bougainville Copper Ltd 0.36 +30.91% $144.4M
AEE Aura Energy Ltd 0.005 +25.00% $6.6M
CAN Cann Group Ltd 0.53 +19.10% $74.5M
OVN Oventus Medical Ltd 0.67 +15.65% $86.8M
AZS Azure Minerals Ltd 0.13 +13.64% $20.3M
KYK Kyckr Ltd 0.13 +13.64% $28.7M
FZO Family Zone Cyber Safety Ltd 0.21 +13.51% $49.0M
UUV UUV Aquabotix Ltd 0.0045 +12.50% $2.3M
TAR Taruga Minerals Ltd 0.02 +12.50% $2.9M
SIL Smiles Inclusive Ltd 0.04 +12.12% $4.9M

GOING DOWN

Here are the worst performing ASX small cap stocks at 11:45am on Tuesday, November 26:

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Code Name Price % Chg Market Cap
ICG Inca Minerals Ltd 0.001 -50.00% $4.2M
BPH BPH Energy Ltd 0.001 -33.33% $3.6M
KMT Kopore Metals Ltd 0.003 -25.00% $1.9M
GTE Great Western Exploration Ltd 0.003 -25.00% $3.8M
SHH Shree Minerals Ltd 0.004 -20.00% $2.4M
HHM Hampton Hill Mining NL 0.02 -20.00% $4.7M
ELT Elementos Ltd 0.002 -20.00% $3.1M
ANL Amani Gold Ltd 0.002 -20.00% $12.1M
IMS Impelus Ltd 0.005 -16.67% $3.5M
PCH Property Connect Holdings Ltd 0.0025 -16.67% $1.7M
AWN Arowana International Ltd 0.16 -15.79% $25.3M
MTC MetalsTech Ltd 0.05 -15.25% $6.3M
BEE Broo Ltd 0.02 -14.29% $11.5M
DHR Dark Horse Resources Ltd 0.003 -14.29% $6.9M
IPT Impact Minerals Ltd 0.007 -12.50% $9.3M
LSH Lifespot Health Ltd 0.04 -12.50% $2.7M
MRQ MRG Metals Ltd 0.008 -11.11% $8.0M
IVX Invion Ltd 0.008 -11.11% $44.0M