House Republicans have called on the heads of companies including BlackRock and Vanguard to hand over an array of documents detailing how they developed their decarbonization and net zero emissions targets while warning that their efforts to combat climate change could violate U.S. antitrust law. House Judiciary Chairman Jim Jordan (R-Ohio), Rep. Dan Bishop (R-N.C.), and Rep. Thomas Massie (R-Ky.) sent…
House Republicans Say Blackrock, Vanguard’s ESG Policies May Violate Antitrust Law
Wall Street Opens Lower After Payrolls Report
Wall Street‘s main indexes opened lower on Friday after data signaled resilience in the labor market in the face of the Federal Reserve’s aggressive monetary tightening. Data showed U.S. job growth slowed more than expected in June after surging in the prior month, but labor market conditions remain tight, with the unemployment rate retreating from a seven-month high and fairly strong wage…
Delivery Companies, Including Doordash, Uber, Sue New York City Over Minimum Wage Law
July 7, 2023
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Multiple food-delivery services filed a lawsuit against New York City on July 5 seeking to block a new law establishing higher minimum wages for food-delivery workers, including app-based delivery workers. DoorDash and Grubhub filed a joint lawsuit against the city in the Supreme Court of the State of New York, while Uber, the parent company of Uber…
Ruby Princess Cruise Ship Carrying 4,000 People Crashes Into San Francisco Pier
July 7, 2023
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A Princess Cruises ship carrying nearly some 4,000 people smashed into a pier in San Francisco this week while the vessel was trying to dock, officials said. In a statement, the company said that the ship “made unexpected contact” with the Pier 27 dock at the Port of San Francisco on Thursday. The U.S. Coast…
Stock Market Today: Asian Shares Fall as Strong US Data Dash Hopes for an End to Rate Hikes
July 7, 2023
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BANGKOK—Asian shares slipped Friday after another decline on Wall Street, where hopes for an end to interest rate hikes were again dashed by strong jobs data. U.S. futures fell and oil prices were higher. Investors were watching for updates from U.S. Treasury Secretary Janet Yellen’s visit to Beijing. Tokyo’s Nikkei 225 shed 0.6 percent to…
Twitter Threatens Legal Action Against Meta Over Rival Threads App
July 7, 2023
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Lawyers for Elon Musk have threatened to take legal action against Meta Platforms after the Mark Zuckerberg-owned company this week unveiled a microblogging platform rivaling Twitter called Threads. In a July 5 letter (pdf) addressed to Mr. Zuckerberg, Mr. Musk’s attorney Alex Spiro wrote that Twitter has “serious concerns” that Meta has engaged in “systematic, willful, and…
Digital Banking Reality in Australia: Booking Appointments to Get Cash
Australians may have to book appointments the next time they want to withdraw cash as several major banking institutions accelerate their digitalisation process. This comes after a Queensland woman recently gained public attention after a Tiktok video describing her ordeal of withdrawing cash from a local bank branch went viral. According to the video, Taryn…
Nevada Secures $285 Million Opioid Settlement With Walgreens, Bringing Total Settlements to $1 Billion
LAS VEGAS—The state of Nevada has reached a $285 million settlement with Walgreens regarding the pharmacy chain’s role in the opioid epidemic, the state’s top lawyer announced Wednesday. The last in a series of multiyear settlements with pharmaceutical companies, retailers, and others, it pushes Nevada’s total anticipated payments stemming from opioid claims to $1.1 billion,…
California and Truck Manufacturers Strike Deal on State Emissions Rules
July 6, 2023
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California state air regulators and truck and engine manufacturers said on Thursday they had agreed on state emissions rules that will give companies more flexibility to meet requirements. The California Air Resources Board (CARB) said the “Clean Truck Partnership” with the Truck and Engine Manufacturers Association (EMA) includes new flexibility for manufacturers to meet emissions…
Tesla and Chinese Rivals May Sign Truce After EV Price War With Socialist Values Pledge
July 6, 2023
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Tesla and its rival electric vehicle manufacturers in China signaled a truce after a months-long price war and agreed to a “socialist values” pledge. Tesla CEO Elon Musk, who is also the owner of Twitter and SpaceX, and Chinese automaker CEOs, agreed to adhere to a “core socialist values” pledge and to compete fairly in…
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