A majority of voters approved the measure in November 2020, but it was swiftly challenged by a coalition of ride-hail drivers and labor groups, ruled unconstitutional by a California judge and appealed through the courts. But after the ride-hail apps threatened to suspend operations in the state, an appeals court granted them a temporary reprieve and the companies poured millions into getting Prop.
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The battle over the status of these workers in the state - who number at least one million - ramped up in 2019, when California legislators passed a law requiring these companies to give their drivers the full protections of employment. A Ruling on Gig WorkĪ court is expected to hand down its ruling this week on Proposition 22, a ballot measure in California that would allow gig economy companies like Lyft and Uber to continue treating drivers as independent contractors. took control of the bank and created a new one, the National Bank of Santa Clara, to hold customers’ deposits and assets. Investors at some venture capital firms urged their clients to move their money from the bank over concerns about its financial solvency. These were urgent and extraordinary measures that banks go to great lengths to avoid. The bank touched off investor panic when it announced on Wednesday that it had sold off $21 billion of its most liquid investments, borrowed $15 billion and organized an emergency sale of its stock to raise cash. In an ominous sign for global banking, the Federal Deposit Insurance Corporation last week seized Silicon Valley Bank, a prominent investor in tech start-ups. The last reading showed that while overall inflation had cooled, it was only a slight change, and core inflation - which strips out volatile food and fuel costs - remained fast. So Fed officials will be paying close attention (as they always do) to the Consumer Price Index data that will arrive on Tuesday. But much of the Fed’s decision-making depended on the inflation and jobs reports. Powell said he and his colleagues were prepared to take a more aggressive tack and raise rates more quickly, if needed. Speaking before the Senate Banking Committee on Tuesday and the House Financial Services Committee on Wednesday, Mr. Powell, the Fed chair, spoke to Congress last week, he largely avoided committing to a strategy for taming inflation. What’s Next? (March 12-18) Next on the Economic Calendar This latest jobs data also suggests that employer confidence is still relatively high, even as layoffs begin to rise. So while job growth has eased somewhat in the last month, it remains resilient in the face of the Federal Reserve’s efforts to slow the economy. But the general downward trajectory of those jobs numbers took an unexpected turn in January, when new jobs surged to 517,000. Forecasters had expected to see a figure around 215,000, which would have been more in line with jobs reports from the second half of 2022. employers added 311,000 jobs in February. The Labor Department reported on Friday that U.S. Biden’s proposals were “completely unserious.” Job Growth Holds Strong
The budget plan - which also calls for a new 25 percent minimum tax on billionaires - is widely considered dead on arrival in the Republican-controlled House.
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Biden’s proposal provides for funding for an array of new programs, including billions on guaranteed paid leave for workers, free community college and an expanded child tax credit. The proposal was meant to address a partisan fight over the country’s national debt. President Biden on Thursday unveiled a $6.8 trillion budget that sought to increase spending on the military and a wide range of new social programs while also reducing budget deficits by nearly $3 trillion over a decade. 6 Capitol attack as a largely peaceful event. Carlson for his on-air portrayal of the Jan. Carlson’s texts include some of the starkest language about the former president and drew special attention from the White House in a statement on Wednesday criticizing Mr. Trump like “ I hate him passionately.” He is not the only Fox employee to be featured in the documents, which are part of the $1.6 billion defamation suit against Fox News by the voting technology company Dominion Voting Systems and include the messages of other network stars like Laura Ingraham. Carlson was sending texts to members of his staff about Mr. Trump and promoted his unfounded belief that the election had been stolen. Trump and the outcome of the 2020 presidential race have been shown to contrast sharply with the messaging of his show, which supported Mr. In particular, Tucker Carlson’s views on Donald J. New documents released last week revealed the disconnect between the Fox News anchors’ privately held opinions and those they espoused publicly - and shared with millions of viewers - on their television programs. What’s Up? (March 5-11) Tucker Carlson’s Private Texts
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