Lyft Inc. illegally coordinated to limit driver pay in New York City, according to documents reviewed by Bloomberg News.So-called civil investigative demands, which are similar to subpoenas, were sent to both companies in the final days of the Biden administration.

Shares of ride-hailing giants Uber (NYSE:UBER) and Lyft (NASDAQ:LYFT) fell sharply in today's trading session, with Uber down 3.3% and Lyft dropping 4.6%. The decline in stock value is attributed to a recent announcement by autonomous vehicle company Waymo,