The daily business briefing: May 9, 2016

1.

Uber and Lyft said they would suspend service indefinitely in Austin starting Monday after voters in the Texas capital defeated a ballot measure seeking to repeal regulations on the ridesharing services. Uber and Lyft said the new local rules, including background checks with fingerprinting for drivers, make it hard for them to operate in the city. Ridesharing Works for Austin, funded entirely by Lyft and Uber, spent more than $8 million fighting the regulations, while an opposing...

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