World
Concrete jungle: Congestion charges could be coming to NYC

Concrete jungle: Congestion charges could be coming to NYC

It’s tolls for thee

New York City authorities are putting the finishing touches on what could become America’s first congestion pricing program in history, with plans for a $15 toll on drivers looking to access Manhattan's busiest streets to be introduced as early as next spring.

That $15 figure, which the MTA will vote on next year, was detailed in a draft of the new proposal, with taxi surcharges, half-price fees for motorcyclists, and daily $24 / $36 charges for trucks and non-commuter buses also outlined.

Decongestants

Following other major cities such as London and Singapore, the congestion fees are intended to curb traffic and encourage New Yorkers to catch public transport or use other alternatives to get around the city. Indeed, while pleas from Mayor Eric Adams for workers to return to offices in the city were somewhat successful — depending on what you read — the MTA might be wondering what it will take to get their subway cars and public buses packed out to pre-Covid levels again.

On March 5th, 2020, less than a week before the WHO declared the pandemic, some 5.5 million people took the subway in NYC, while 2.2 million New Yorkers were on the bus, according to MTA ridership data — but figures have struggled to get close to those thresholds ever since. On Tuesday, for example, there were just 3.9 million subway riders and 1.1 million people taking the bus. Car usage, on the other hand, is back to normal, explaining the return of the Big Apple's “insane” gridlock.

More World

See all World
world

Starbucks sells control of China business for $4 billion

Starbucks disclosed on Monday evening in a regulatory filing that it will sell control of its ailing China business to Boyu Capital for about $4 billion.

Under the agreement, Boyu will own a 60% stake in the China segment, which will become a joint venture between Boyu and Starbucks. The coffee chain will retain a 40% interest in the entity and will continue to own and license the brand and intellectual property.

Bloomberg reported earlier this year that the company was looking to sell its China segment. The American coffee giant has struggled to succeed in China, its second-largest market after the US.

world

John Wayne Airport in Orange County tops the list of North America’s favorite airports

Despite a record year of passenger numbers, flight cancellations, and delays, a new survey has revealed that flyers have been increasingly satisfied about their experiences in North American airports. 

According to this year’s North America Airport Satisfaction Study from data analysts at J.D. Power, overall passenger satisfaction scores were up 10 points (on a 1,000-point scale), largely from “improvements in food, beverage and retail and ease of travel through the airport.” The annual survey measures overall traveler satisfaction across the region’s airports in seven categories (in order of importance): ease of travel, level of trust, terminal facilities, airport staff, airport departure experience, food and retail, and airport arrival experience.

Here are the regions favorites:

Latest Stories

Sherwood Media, LLC produces fresh and unique perspectives on topical financial news and is a fully owned subsidiary of Robinhood Markets, Inc., and any views expressed here do not necessarily reflect the views of any other Robinhood affiliate, including Robinhood Markets, Inc., Robinhood Financial LLC, Robinhood Securities, LLC, Robinhood Crypto, LLC, or Robinhood Money, LLC.