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California passes landmark gig economy rights bill

California passes landmark gig economy rights bill

Business
California lawmakers have passed a bill that paves the way for gig economy workers to get holiday and sick pay.Assembly Bill 5, as its known, will affect firms like Uber and Lyft, which are based in California and depend on those working in the gig economy.Some estimates suggest costs for those firms would increase by 30% if they have to treat workers as employees.But opponents of the bill say it will hurt those people who want to work flexible hours.If it is signed into law, the bill will change how employees are treated in the gig-economy, which has been a cornerstone of the model adopted by ride-hailing firms and food delivery apps.But California state senator Maria Elena Durazo said underpaying workers wasn't innovative. Assembly Bill 5 would put into...
Hong Kong leader Carrie Lam to withdraw extradition bill

Hong Kong leader Carrie Lam to withdraw extradition bill

World
Hong Kong leader Carrie Lam has said she will withdraw the controversial extradition bill which triggered months of protests. The proposal, introduced in April, would have allowed criminal suspects to be extradited to mainland China. The bill was suspended in June when Ms Lam called it "dead", but she stopped short of withdrawing it.Full withdrawal is one of five key demands of protesters, who are also calling for full democratic rights.On Monday, Ms Lam was heard on leaked audio tapes blaming herself for igniting Hong Kong's political crisis, and saying it was unforgiveable of her to have caused such huge havoc. Media playback is unsupported on your device The extradition bill quickl...
Sports Direct faces £605m tax bill and ‘terminal’ problems at House of Fraser

Sports Direct faces £605m tax bill and ‘terminal’ problems at House of Fraser

Business
By John-Paul Ford Rojas, business reporter Sports Direct says it is facing a €674m (£605m) tax demand from Belgian authorities - as boss Mike Ashley warned that problems at House of Fraser were "terminal".Mr Ashley also warned of more store closures at House of Fraser and expressed apparent regret for buying it, as Sports Direct published a much-delayed set of full-year financial results. The tycoon used the results statement to deliver a stark assessment of the problems his business is facing as well as venting at length about those he blames for them.He warned that the acquisition of House of Fraser had "led to significant uncertainty as to the future profitability of the group as a whole".Meanwhile, the group said its chief financial officer Jon Kem
Government introduces Bill to check ponzi schemes in Lok Sabha

Government introduces Bill to check ponzi schemes in Lok Sabha

Finance
New Delhi: In a bid to save gullible investors from ponzi schemes, the government Friday introduced the Banning of Unregulated Deposit Schemes Bill, 2019 in the Lok Sabha that seeks to put in place a mechanism by which such depositors can be compensated. The Banning of Unregulated Deposit Schemes Bill, 2019 will replace the Ordinance on the same. The bill seeks to help tackle the menace of illicit deposit taking activities in the country, which at present are exploiting regulatory gaps and lack of strict administrative measures to dupe poor and gullible people of their hard earned money, according to the government. The bill was introduced by Finance Minister Nirmala Sitharaman in the Lower House amid noisy protests by Congress members over the ongoing political crisis in Karnataka. The...
Hong Kong extradition bill ‘is dead’ says Carrie Lam

Hong Kong extradition bill ‘is dead’ says Carrie Lam

World
Media playback is unsupported on your device Hong Kong leader Carrie Lam has said the controversial bill that would have allowed extradition to the Chinese mainland "is dead".At a press conference on Tuesday, Ms Lam said the government's work on the bill had been a "total failure".But she stopped short of saying it had been fully withdrawn, and protesters have vowed to continue mass rallies.The bill sparked weeks of unrest in the city and the government had already suspended it indefinitely. "But there are still lingering doubts about the government's sincerity or worries whether the government will restart the process in the Legislative Council," Ms Lam told reporters. "So I reiterate here, there is no such plan. The bill is dead." She had pr...