Ride-hailing

Uber sues NYC over vehicle cap law

Photo of car with Uber and Lyft stickers in NYC.
Ride-hailing car with Uber and Lyft stickers in NYC. Photo: Spencer Platt/Getty Images

Uber has filed legal action against the city of New York over a law it passed last year capping the number of ride-hailing cars allowed on its street, fearing the city may make permanent the initial 12-month pause, according to court documents.

The big picture: Ride-hailing companies have aggressively pushed back against regulations. In 2015, New York Mayor Bill de Blasio tried to impose a cap, but dropped the plan after pushback from the companies (namely, Uber which created a publicity stunt in its mobile app as protest).

Uber business — and losses — grows ahead of IPO

Image of a stock of bills with an Uber label.
Illustration: Lazaro Gamio/Axios

Uber on Friday released its latest quarterly financials, likely its last before formally filing to go public, showing continued growth and investment in areas like UberEats.

The bottom line: The numbers show continued growth and investment in areas like UberEats, but still no profits.

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