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DoorDash, Uber Eats, Grubhub Sue New York City Over Wage Law
The companies say new minimum pay rates are based on flawed calculus and will raise consumer prices and limit worker flexibility. Source link
Home-Builder Stocks Are Booming as Homeowners Stay Put
The top three publicly traded builders have seen their share of new-home sales rise from 22% to 31% over roughly the past five years. Source
Jobs Report Will Show Whether Hot Hiring Cooled in June
The strong labor market has fed economic momentum and kept pressure on the Fed to raise rates again as it fights high inflation. Source link
Americans Have Quit Quitting Their Jobs
Listen to article (2 minutes) The surge in Americans quitting their jobs has abated since peaking during the pandemic, another sign that the labor market
Why Interest Rates Don't Cool Inflation Enough: They Hit the Wrong Places
Many prices less affected by monetary policy matter more for cooling inflation, giving central banks reasons to be overly hawkish. Source link
Tax Day: IRS Left Fewer Taxpayers on Hold This Year
Markets Personal Finance The average wait time to speak to a representative dropped 85% this tax season, officials said Source link
Canada Public Broadcaster Joins NPR in Quitting Twitter Over Label Uproar
Tech CBC says label ‘government-funded media’ in which officials determine editorial content is ‘untrue and deceptive’ Source link
State Street, Schwab See Deposits Drop
Banks across the board are under pressure to pay depositors more as interest rates continue to rise. Source link
Saudi Arabia, U.A.E. Scoop Up Russian Oil Products at Steep Discounts
Despite U.S. objections, the Gulf countries are using the Russian products internally, including for consumption and refining purposes, and exporting their own barrels at market
Banks Are Finally Facing Pressure to Pay Depositors More
Small and midsize banks lost hundreds of billions of dollars in recent weeks to their bigger peers and to money-market funds offering higher yields. Source