Uber loses challenge to NYC ride-hailing caps

Uber's lawsuit to overturn rules to restrict the number of for-hire delivery and transportation vehicles allowed in the city was dismissed Friday by the New York state Supreme Court, The Verge reports.

Why it matters: This is part of a package of rules lawmakers said was aimed at decreasing traffic caused by ride-hailing cars. Taxi drivers view the ruling — which Uber is likely to appeal — as a victory. Uber argues the ride-hailing cap costs its drivers thousands of dollars per year and the company stopped hiring new drivers in New York City this spring due to the cap.

Go deeper: Uber sues NYC to stop ride-hailing cap on for-hire drivers