Tag Archives: Lyft

Financial Daily Dose 10.23.2020 | Top Story: CA Appeals Court Tells Uber and Lyft to Treat Drivers as Employees

BY: Michael D. Reif | October 23, 2020

A California appeals court has affirmed a lower court decision requiring Uber and Lyft to “treat their California drivers as employees, providing them with the benefits and wages they are entitled to under state labor law.” The ruling places even greater importance on a “ballot initiative sponsored by gig economy start-ups to exempt themselves from … Continue reading

Financial Daily Dose 8.21.2020 | Top Story: Court Stays CA Gig-Worker Law; Uber and Lyft to Keep Operating in State During Appeal

BY: Michael D. Reif | August 21, 2020

A state appeals court in California has preempted Uber and Lyft’s threatened state-wide shutdown over a new state law ordering them to reclassify their drivers as employees by “allowing them to continue operating [under their current model] while the court weighs their appeal” – NYTimes and WSJ and Bloomberg and MarketWatch and Marketplace Initial U.S. … Continue reading

Financial Daily Dose 8.20.2020 | Top Story: Apple Becomes First U.S. Company to Hit $2 Trillion Valuation Mark

BY: Michael D. Reif | August 20, 2020

Apple tipped the $2 trillion mark this week, the first U.S. company to reach that valuation milestone, doing so just 2 years after it first hit $1 trillion. That it’s done so in the middle of a pandemic only punctuates how the coronavirus crisis “has been a bonanza for the tech giants” – NYTimes and … Continue reading

Financial Daily Dose 8.18.2020 | Top Story: U.S. Further Restricts Huawei Access to American Components

BY: Michael D. Reif | August 18, 2020

Another day, another major U.S. restriction on Chinese tech. The Commerce Department is out with new rules “curbing Huawei Technologies Co.’s access to foreign-made chips.” The measures would “prohibit non-U.S. companies from selling any chips made using U.S. technology to Huawei without a special license” and places “potentially severe new limits on Huawei’s ability to … Continue reading

Financial Daily Dose 8.13.2020 | Top Story: Uber and Lyft Warn Gig-Worker Ruling Could Push Them Out of California

BY: Michael D. Reif | August 13, 2020

Ride-hailing companies Uber and Lyft are warning that California’s new moves forcing them to classify their drivers as employees could force them both to shutter their operations altogether in that state (at least while they appeal the adverse ruling). The strategy’s become a tried-and-true approach for Uber at this point – Bloomberg and MarketWatch and … Continue reading

Financial Daily Dose 8.11.2020 | Top Story: McDonalds Sues Former CEO Over Series of Workplace Affairs

BY: Michael D. Reif | August 11, 2020

Eight months after firing its CEO, Steve Easterbrook, for “sexting with a subordinate,” McDonald’s has sued Easterbrook for allegedly “lying, concealing evidence and fraud” in what appears to be a series of other workplace affairs. The company’s seeking to “recoup stock options and other compensation” that it allowed Easterbrook to keep when it showed him … Continue reading

Financial Daily Dose 8.7.2020 | Top Story: White House Issues EOs Banning Transactions with TikTok and WeChat Parent Companies in 45 Days

BY: Michael D. Reif | August 7, 2020

Jobs Report Friday again. Yes, it’s been another month already, and yes, we’re still in desperate need of some signs of strength in what appears to be a flagging U.S. economic comeback from the spring lockdown – NYTimes and WSJ and Bloomberg and MarketWatch Meanwhile, US weekly jobless claims fell to their lowest level since … Continue reading

Financial Daily Dose 7.29.2020 | Top Story: Tech Titans to Testify About Antitrust Concerns Today

BY: Michael D. Reif | July 29, 2020

Much more on what to expect from Big Tech’s “Big Tobacco Moment” on the Hill today, at which Google, Amazon, Facebook, and Apple’s CEOs will endeavor to make the case that their massive companies don’t “stifle[] rivals and harm[] consumers” – NYTimes and WSJ and Bloomberg and MarketWatch An extra challenge for Apple’s Tim Cook, … Continue reading

Financial Daily Dose 7.15.2020 | Top Story: America’s Biggest Banks Setting Aside Tens of Billions for Anticipated Loan Losses

BY: Michael D. Reif | July 15, 2020

The latest quarterly reporting shows that America’s biggest banks—among them, JPMorgan, Citigroup, and Wells Fargo—are taking self-imposed hits now in anticipation of a “wave of loan losses” later. Those three are collectively stockpiling “$28 billion to cover losses as consumers and businesses start to default on their loans” – WSJ and Bloomberg and NYTimes Automakers … Continue reading

Financial Daily Dose 7.13.2020 | Top Story: OPEC Weighs Expanded Oil Production Just Months After Agreeing on Cuts

BY: Michael D. Reif | July 13, 2020

OPEC and its oil-producing allies (in Russia and elsewhere) are reportedly working on a plan to ease cuts on oil production they agreed upon in April “amid signs that demand is returning to normal levels following coronavirus-related lockdowns” and internal pressure from the Saudis – WSJ and Bloomberg and NYTimes Disney World’s back open, even … Continue reading