Uber faces new roadblock in New York on its way to IPO

FILE - In this March 15, 2017 file photo, a sign marks a pick-up point for the Uber car service at LaGuardia Airport in New York. New York City is imposing a one-year moratorium on new ride-hailing licenses in Uber's largest U.S. market, raising the specter that other cities may adopt similar crackdowns as they try to ease traffic congestion. (AP Photo/Seth Wenig, File)

SAN FRANCISCO — Uber will have to navigate around a new regulatory pothole in New York on an already bumpy road to its initial public offering of stock next year.

New York City is imposing a one-year moratorium on new ride-hailing licenses in Uber's largest U.S. market, raising the specter that other cities may adopt similar crackdowns as they try to ease traffic congestion.

If that were to happen, it would be more difficult for Uber to boost its revenue and reverse its history of uninterrupted losses. That, in turn, would affect the price that investors are willing to pay for Uber's stock in the IPO that the San Francisco company plans to make next year.

Uber maintains that New York's moratorium is a bad idea.

Must Read

$30 billion pledged in Kuwait at summit to...

Feb 14, 2018

International donors have pledged $30 billion to help rebuild Iraq after the war against the...

Irish border dispute looms large over the UK-EU...

Oct 15, 2018

Britain and the European Union are stuck on the tricky question of how the Irish border fits into...

The Latest: Tusk says new thinking required in...

Oct 16, 2018

European Council President Donald Tusk says new thinking is required to end the Brexit standoff and...

Boost for Dutch ruling coalition as unemployment...

Jan 19, 2017

The number of people registered as unemployed in the Netherlands fell by more than 100,000 last...

Populist Geert Wilders praises Donald Trump's...

Jan 31, 2017

Firebrand anti-Islam lawmaker Geert Wilders has clashed in Parliament with the Dutch foreign...