The legislation, which would make thousands more permits available, is part of a package of City Council bills aimed at helping the city’s vendors get on the right side of the law.

Mayor-Elect Zohran Mamdani chose Sherif Soliman, a veteran of municipal government and the chief financial officer of the City University of New York, to lead the Office of Management and Budget.

Britain’s central bank reduced interest rates to 3.75 percent, a move that was welcomed by the government, which has been looking to lower the high cost of living.