regulation

Uber and Lyft drivers challenge California 'gig worker' ballot

San Francisco (AFP) - Drivers for ride-share and meal delivery apps filed a lawsuit Tuesday to nullify a referendum passed by California voters that lets such "gig workers" be treated as contractors. Labor legislation known as Proposition 22 -- passed in November and heavily backed by backed by Uber, Lyft and other app-based, on-demand delivery services -- effectively overturned a state law requiring them to reclassify their drivers and provide employee benefits. The lawsuit argued the measure is invalid because it usurps the power of state courts and legislators when it comes to worker rights...

Chinese firms could lose access to US stock markets

New York (AFP) - The House of Representatives on Wednesday passed a bill that could close US stock and money markets to Chinese firms. The "Holding Foreign Companies Accountable Act" could be quickly placed on the desk of US President Donald Trump for final approval, since it was already passed by the Senate. The measure introduced in 2019 by Louisiana Republican Senator John Kennedy would mandate that foreign companies listed on US stock exchanges comply with accounting requirements of the US Securities and Exchange Commission. Many foreign companies already conform to the standard, but Chine...