New York Plans to Cap Uber and Lyft

New York Plans to Cap Uber and Lyft

New York moved to develop into the primary metropolis within the U.S. to cap ride-hailing companies together with Uber Technologies Inc. and Lyft Inc., freezing new automobile licenses for one 12 months whereas it research the fallout from the booming trade.

The vote Wednesday by the New York City Council may cripple the expansion of Uber and Lyft of their largest U.S. market as each corporations are heading towards eventual preliminary public choices. The Silicon Valley corporationsā€™ companies rely upon recruiting as many drivers as they will to drive down fares…

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