NYC Mayor de Blasio backs down on Uber cap — for now

Just one day before the New York City Council's vote, Mayor de Blasio backed away from his tenacious fight with ride-sharing service Uber.

The mayor wanted to cap the number of vehicles operating within the Uber network, sparking fierce backlash from the company, its die-hard followers, and even some high-profile celebrities. As part of today's agreement, the City Council postponed the vote on a growth cap while the city conducts a four-month study of the effects Uber and other similar...

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