| Updated:
New York launches bike scheme
New York is following in the footsteps of London and Paris with its own bicycle-sharing scheme, which will be supported by $41m of sponsorship from Citigroup. The New York Transportation Department, which unveiled the scheme alongside Citi chief Vikram Pandit yesterday, said it will make 10,000 bikes available at 600 stations across Manhattan and Brooklyn from this summer. The city has promised that no public money will be used to fund the bikes – something London also pledged, before mounting costs prompted a U-turn.