Uber

California Approves Ride-Sharing Services

With heavy regulations, obviously

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California regulators have approved the nation's and state's first rules for fast-growing ride-sharing companies that connect passengers to drivers via smartphones.

The Public Utilities Commission voted 5 to 0 to let the services—such as Lyft Inc., Sidecar and Uber Technologies Inc.—continue to operate, if they comply with basic safety and insurance requirements.

The three companies provide transportation for a fee or donation, connecting paying passengers with drivers who use their own vehicles.