Previous Close | 0.0100 |
Open | 0.0100 |
Bid | 0.0000 |
Ask | 0.2300 |
Strike | 26.00 |
Expire Date | 2024-05-17 |
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Open Interest | 1.22k |
Ride-hailing companies Uber and Lyft said Monday they will keep operating in Minnesota now that state lawmakers have passed a measure that will increase driver pay, but at a lower rate than approved by Minneapolis officials earlier this year. Although the new pay minimums are less than the rate approved by the Minneapolis City Council in March, they are intended to ensure drivers across the state are paid at least the city’s minimum wage equivalent of $15.57 an hour, though they also might mean increased costs for passengers. Minnesota lawmakers approved the pay plan Sunday night, on the last day of the legislative session and sent the measure to Gov. Tim Walz, who has said he will sign the bill into law.
A plan to boost pay for Uber and Lyft drivers in Minnesota that lawmakers believe would prevent the companies from leaving the market advanced in the state Legislature on Sunday before the midnight deadline. The House passed the compensation bill but the measure was held up in the Senate before winning approval prior to the deadline for lawmakers to pass bills before they adjourned. The bill now moves to Gov. Tim Walz to be signed into law, the Star Tribune reported.