Uber Drops Fight Over Tax-Hailing App for New York

As a wave of smartphone taxi-hailing applications has challenged the industry’s regulators in cities around the country, Uber Inc. seemed to corner the market on brashness. But Uber backed down from its most recent confrontation -- an effort to launch a hailing application for New York’s yellow cabs, in apparent violation of existing rules that don’t allow cab drivers and passengers to “prearrange” a ride.