Unrestrained growth has increased congestion in central Manhattan and heightened competition has suppressed pay for drivers of Yellow Cabs, black car liveries and luxury limousines.
New York’s city council dealt a political blow to Uber Technologies Inc and other app-based car-for-hire companies by approving a one-year industry=wide cap on new licenses and giving the city Taxi & Limousine Commission authority to set minimum pay standards for drivers.
The passage of sweeping industry regulations signaled politicians’ changed attitudes toward the so-called gig economy and electronic car-hailing services such as Uber, Lyft Inc.and Via Transportation Inc.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
