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    New York to Cap Ride-Sharing Services

    The Big Apple became the first American city to limit permits for ride-hailing firms like Uber and Lyft after its city council voted on Wednesday to pause licensing for a year while it studies the industry’s impact on the city. The new legislation, celebrated by Mayor Bill de Blasio, also allows New York to set a minimum wage for those drivers. Uber sharply criticized the measure, saying the Silicon Valley firm, which plans to go public next year, will do “whatever it takes” to compete in its top market.

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