*By Amanda Weston and Bridgette Webb*
New York City's decision to institute [a minimum wage for drivers of ride-hailing apps like Uber and Lyft](http://fortune.com/2018/08/08/new-york-freeze-ride-sharing-vehicles-minimum-wage-lyft-uber/), will be a boon for drivers, and may prompt other cities considering how to handle the rise of for-hire vehicles to act similarly.
"It's a very big win ー huge," said Aziz Bah, a steward for the Independent Drivers Guild and an Uber driver. "We have been fighting for the longest \[time\]."
The City Council [approved a package of rules](https://www.nytimes.com/2018/08/08/nyregion/uber-vote-city-council-cap.html) Wednesday that included a guaranteed minimum wage for drivers and a one-year cap on most new licenses, so the city can study the effects of the industry's explosive growth.
"The most positive thing for drivers is the pay floor, which amounts to a 22.5 percent raise in overall take home pay," Bah said Thursday in an interview with Cheddar.
Uber opposed the Council's rules, saying it would make rides less reliable and more expensive. Bah said the new rules should be a clear message to the ride-hailing companies.
"Treat drivers better," he said. "Because no one is making any legislation or rules with the drivers' livelihood in mind. We want these guys to finally put the drivers first."
The popularity of the wage guarantee [among drivers](https://www.nytimes.com/2018/08/06/nyregion/taxi-and-uber-drivers-are-united-in-backing-a-cap-on-ride-hail-vehicles.html) and the willingness of a city the size of New York to act may embolden other cities, said Alison Griswold, a reporter at Quartz.
"\[Seattle\] passed legislation that allowed drivers to unionize, which is still tied up in litigation, and there's also been interest among the city officials for raising the wage for Uber drivers," Griswold said Thursday in an interview with Cheddar. "So, you could see a city like Seattle picking up what New York has done on setting a wage floor. Then in San Francisco there's a lot of talk about congestion and how things have gotten worse for just everyone in the city driving around."
It remains to be seen how the cap on new licenses will affect traffic.
"We'll just have to wait to see," said Griswold. "It was widely opposed by transit advocates and editorial boards across the city. It's for a year. And you know, with the subway the way it is, I think everyone wants as many transit options as possible."
For more on this story, [click here](https://cheddar.com/videos/nyc-pumps-the-brakes-on-ride-hailing).
Marvel's 'Eternals' blasted into theaters Friday, bringing in $71 million in its opening weekend, becoming the fourth-best debut of the year. It comes at a crucial time for the box office as theaters attempt to bring back customers after over a year of pandemic-induced lulls. Shawn Robbins, Chief Analyst with BoxofficePro.com joined Cheddar's Opening Bell to discuss the state of the U.S. box office and a return to theaters.
Paulina Likos, Investing Reporter at US News & World report, joined Wake Up With Cheddar to break down how the U.S. reopening its borders to foreign travelers might provide a big boost to the hard-hit travel and tourism industry.
Jill Wagner and Baker Machado break down the state of the Opioid Crisis in the U.S. The CDC reported a 30% increase in overdose deaths from 2020 to 2021, but in recent months pharmaceutical companies have drastically raised the price of Naloxone or 'Narcan,' affecting the response of community harm prevention groups.
Jill and Carlo discuss the scenes of joy at American airports as borders reopen, another tool in the Covid toolbox, the latest in the Astroworld crowd crush tragedy and more.
The two biggest names in the ride-sharing industry reported earnings this week. Uber and Lyft both beat Wall Street expectations on their top and bottom lines, as the companies and the ride-sharing industry have recently faced several challenges like the pandemic, the supply chain crisis, and driver shortages. Johnson Research Group CEO Chris Johnson joined Cheddar News' Closing Bell to discuss.
Gaming technology studio Mythical Games recently raised $150 million in a round led by Andreesen Horowitz, bringing Mythical's valuation to above unicorn status at $1.2 billion. Mythical Games' mission is to create a new generation of gaming with play-to-earn games that allow players to play to win actual cryptocurrency. Now the company is taking it to another level with NFT technology, allowing players to play with characters they can truly own. Mythical Games CEO John Linden joined Cheddar News' Closing Bell to discuss.
Jacob Channel, Senior Economic Analyst at LendingTree, joins Cheddar to discuss the most popular reasons to refinance a mortgage, and when the right time is to consider refinancing.
The pandemic caused chaos in the wedding industry after ceremonies were postponed last year. But now couples face a new problem as they look toward their big day: supply chain issues. Tim Chi, CEO at The Knot, joined Cheddar to provide some additional details about the supply constraints affecting everything from venues to flowers. Chi also talked about The Knot celebrating its 25th anniversary and how the business has transformed over the years.
Entertainment journalist Scott Evans joins Cheddar News to discuss his latest hosting gig on 'America's Big Deal' and play a little game with Baker called 'Deal or Dud.'