12:56 PM EDT, 03/15/2024 (MT Newswires) -- Uber ( UBER ) and Lyft ( LYFT ) will stop offering their services in Minneapolis starting May 1 after the city's council voted in favor of an ordinance that would guarantee drivers a minimum wage, according to media reports Friday.

The move was vetoed by Mayor Jacob Frey, but the city council voted Thursday to override the veto.

Uber ( UBER ) and Lyft ( LYFT ) did not immediately respond to requests for comment from MT Newswires.

Uber ( UBER ) was down 1.3% in recent Friday trading while Lyft ( LYFT ) declined 2.2%.

Price: 17.42, Change: -0.39, Percent Change: -2.19