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Business

California Supreme Court ruling a gig economy ‘earthquake’

A radical ruling by the California Supreme Court that redefines when employers can classify workers as independent contractors could blow up the business models of Uber, Lyft and dozens of other companies that rely on gig workers. The decision, handed down Monday in a case involving delivery drivers for a Southern California company, can lead to many other Californian workers …

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United places new restrictions on pets traveling in cargo

United Airlines is introducing new restrictions on the types of pets that will transport in goods after a series of animal-related incidents led to an internal review at the beginning of this year. The Chicago airline will resume booking trips for pets summer, a practice that stopped during the review. But it will only accept dogs and cats and will …

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Gilead hepatitis C drug sales slump, shares fall 5 percent

(Reuters) – Gilead Sciences Inc reported a lower quarterly profit on Tuesday as sales of its top-of-the-line hepatitis C drugs fell 59 percent higher than expected, dropping the share of the declining biotech company 5 percent. The company left the sales prospects unchanged for the entire year. Gilead said he had earned $ 1.48 in the first quarter, excluding items …

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Snapchat reports Q1 2018 earnings

Snap Snap, the parent company of the messaging app Snapchat, lost 17 cents a share on revenue of $ 230.7 million during the first quarter, according to reports from company Tuesday after the close of trading. The company's revenue did not meet analysts' expectations of 6%, exactly the kind of quarterly performance that the company did not need. Snap's shares …

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Uber and Lyft drivers could get employment status under California court ruling

Economics giants, including drivers of popular transportation services such as Uber and Lyft, could find their employment status moving under a major new decision from the higher court in California. The ruling will make it harder for companies to classify their drivers as independent contractors and avoid paying their wages and benefits as required by state law – a potentially …

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Donald Trump salutes Southwest Flight 1380 for bravery, compassion

CLOSE President Trump will meet the crew of the Southwest Airlines flight who made an emergency landing after a fatal engine failure at mid-flight. Chandra Lanier from Veuer has the story. Buzz60 A picture available available from the user Instagram ABOURMAN shows the damaged engine of the Southwest Airlines Flight 1380, which was routed from the airport LaGuardia of New …

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T-Mobile and Sprint don’t need to merge for 5G—they said so two months ago

Enlarge / CTO T-Mobile Neville Ray describes T-Mobile's plans to build a national 5G network. One of the most successful mobile broadband providers in the United States is acquiring a smaller and more distressed competitor, but needs government approval of the merger. To make their case, the merging companies tell regulators that they can not completely switch to next-generation wireless …

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Feds crack down on e-liquid packaging that looks like candy, juice boxes

Federal regulators have warned 13 companies that the way they market liquids used in cigarettes could attract the dangerous ingestion of young children. (US Food and Drug Administration) Federal governors have warned more than a dozen manufacturers, distributors and retailers on Tuesday that they are endangering children by marketing liquids for electronic cigarettes to resemble baby products such as boxes …

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Wall St falls as cost pressures rise, oil prices retreat

(Reuters) – US stocks fell on Tuesday, driven by the discouraging results of Pfizer, the collapse in oil prices and rising fears that rates and inflation could weigh on corporate profits. Traders work on the floor of the New York Stock Exchange (NYSE) in New York, USA, May 1, 2018. REUTERS / Brendan McDermid Data show that activity in the …

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Start-up airline One Jet announces its first acquisition

OneJet, which has a base in Pittsburgh, operates about 180 flights a week. It flies seven-seat jet and is in transition to the 30-seat Embraer E135 aircraft, said CEO Matthew Maguire. He said this will help the operation grow to about 400 weekly flights by the end of the year. Maguire refused to say how much the company is paying …

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