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☆ Explainer: Why weeks of rain in California will not end historic drought
▼ + stars: | 2023-01-12 | by ( Daniel Trotta | ) www.reuters.com time to read: +4 min

But the state's water infrastructure, mostly built in the 20th Century when the population was barely half of today's 40 million, is ill-equipped for the new situation. On Dec. 14, the Metropolitan Water District of Southern California declared a drought emergency for all 19 million people in the region. Despite a deluge that by one estimate has been expected to dump more than 20 trillion gallons (80 trillion liters), the state's major reservoirs remain well below their historic average. INFRASTRUCTURE DEFICITThe state's infrastructure, largely a network of cement canals, lacks the capacity to capture excess stormwater. Even as the Colorado River basin faces its own drought, and the atmospheric rivers provide no relief, the Colorado River suffers more from overuse than from a lack of precipitation.

☆ Wells Fargo labors under $100 bln sin discount
▼ + stars: | 2023-01-10 | by ( John Foley | ) www.reuters.com time to read: +6 min

Wells Fargo shows what happens when misbehavior becomes a feature rather than a bug. TRAGIC NUMBERSerial mischief has cost Wells Fargo investors in three ways. Second, there are the expenses Wells Fargo has incurred from its internal deep clean. A little more than seven years ago, Wells Fargo, Bank of America (BAC.N) and JPMorgan (JPM.N) were roughly the same size in terms of market cap. At $161 billion, Wells Fargo now sits $110 billion short of Bank of America and a whopping $243 billion below JPMorgan.

"We are ready to add a number of your nominees to the board promptly and well before the general meetings," Capricorn said in a letter to Palliser posted on its website. Capricorn declined to clarify how exactly the board might change. Madison Avenue Partners, Capricorn's biggest shareholder at around 8%, on Monday separately reiterated its opposition to the board. The shareholder meeting to vote on the board changes is planned for Feb. 1, with a shareholder vote on the NewMed deal "on or around the same date", Capricorn said. "Holding the general meetings so close together deprives any reconstituted Capricorn board of the opportunity to re-assess the merits and terms of the NewMed transaction in parallel with a consideration of a range of other options," the statement said.

☆ Trump lawyers argue that calling rape accuser E. Jean Carroll a liar doesn't defame her as a journalist
▼ + stars: | 2022-12-22 | by ( Michelle Mark | Jacob Shamsian | ) www.businessinsider.com time to read: +5 min

Former President Donald Trump has filed a motion to dismiss a second lawsuit from E. Jean Carroll. Trump's attorney argued he never defamed Carroll because he didn't disparage her professionally. Carroll previously sued Trump in 2019, alleging that the then-president defamed her by claiming she invented the rape allegations. Trump's court filing on Wednesday argued that Trump's October 12 statement didn't qualify as defamation because it doesn't disparage Carroll's "trade, business or profession." In response to Insider's request for comment, Carroll's attorney, Roberta Kaplan, said Carroll's team looks forward to going to trial in April 2023.

☆ NLRB opens door for union for college athletes with finding on unfair labor practice complaint
▼ + stars: | 2022-12-15 | by ( Chris Isidore | ) edition.cnn.com time to read: +4 min

New York CNN —Are college athletes employees? This could open the door to previously unsuccessful efforts to form the first union of college athletes. The complaint had been filed by the National College Players Association (NCPA), an advocacy group. It filed an unfair labor practice complaint on behalf of the athletes. The matter of whether college athletes are professionals, and thus employees, has been hotly debated for decades.

☆ Russian envoy says British royals told to keep away from Russian embassy
▼ + stars: | 2022-12-12 | by ( ) www.reuters.com time to read: +1 min

MOSCOW, Dec 12 (Reuters) - Russia's ambassador to Moscow said Britain's royal family had been recommended not to have any contacts with the Russian embassy in London, the Izvestia newspaper reported. Asked by Izvestia if there had been any contacts with King Charles III, Russian ambassador Andrei Kelin said: "No, and I know that members of the royal family are advised not to maintain or enter into contact with the Russian embassy." "This deprives them of understanding what will happen in a month and a year from now with Ukraine," Kelin said. He said that Russian businessmen, including the so called oligarchs who earned fabulous fortunes after the fall of the Soviet Union, no longer considered London to be a safe haven. "No one now would consider the United Kingdom to be a safe haven; it turned out to be a pirate haven," he said.

[1/5] South Korean President Yoon Suk-yeol speaks at an interview with Reuters in Seoul, South Korea, November 28, 2022. REUTERS/Daewoung KimSEOUL, Dec 4 (Reuters) - South Korean President Yoon Suk-yeol on Sunday ordered preparations for widening a back-to-work order beyond the cement industry amid a prolonged truckers' strike. Thousands of South Korean truckers have been on strike for more than 10 days, with negotiators for the government and unions making no progress on disagreements over minimum pay rules. The Korean Confederation of Trade Unions, an umbrella group, is planning a general strike for Tuesday. The government has said it would not expand a minimum pay system for truckers beyond a further three years.

☆ U.S. Refuses Advanced Drones for Ukraine to Avoid Escalation With Russia
▼ + stars: | 2022-11-09 | by ( Gordon Lubold | Nancy A. Youssef | ) www.wsj.com time to read: 1 min

WASHINGTON—The Biden administration won’t give Ukraine advanced drones despite pleas from Kyiv and a bipartisan group of members of Congress, a reflection of the limit of the kinds of weaponry Washington is willing to provide for Ukraine’s defense. The decision deprives Ukraine of the kind of advanced weaponry Kyiv has been requesting for months. The Pentagon declined the request based on concerns that providing the Gray Eagle MQ-1C drones could escalate the conflict and signal to Moscow that the U.S. was providing weapons that could target positions inside Russia, U.S. officials and other people familiar with the decision said

☆ German-flagged charity vessel refuses to leave Italian port
▼ + stars: | 2022-11-06 | by ( Francesca Landini | ) www.reuters.com time to read: +2 min

MILAN, Nov 6 (Reuters) - A German-flagged charity vessel refused to leave the Sicilian port of Catania on Sunday, after Italian authorities said not all the migrants it was carrying could disembark, the NGO responsible for the vessel said. Migrants wait to be rescued by crew members of NGO rescue ship 'Ocean Viking' in the Mediterranean Sea, October 26, 2022. Camille Martin Juan/Sos Mediterranee/Handout via REUTERSThe German NGO said that 35 migrants left onboard were in poor health and had fled "inhuman conditions" in Libya. A second charity vessel that had asked Rome for a safe port to disembark 572 migrants has just docked in Catania, the press officer for the Geo Barents ship told Reuters. "Selective and partial disembark, as proposed by the Italian authorities, is not to be considered legal under maritime law conventions," said international NGO Medicins sans Frontieres, which runs Geo Barents ship.

☆ Brazil's Petrobras to pay out $8.5 billion dividend amid squabble
▼ + stars: | 2022-11-03 | by ( ) www.reuters.com time to read: +3 min

SAO PAULO, Nov 3 (Reuters) - Brazilian state-run oil company Petrobras (PETR4.SA) will distribute dividends of around 43.68 billion reais ($8.5 billion) on its third quarter results, the firm said on Thursday, amid controversy over its massive payouts. Exxon has said it will pay dividends of $3.7 billion, while the other four firms will pay out a figure between $1.14 billion and $2.7 billion, according to data compiled by Reuters. Nearly all global oil majors have reported blockbuster profits this quarter, helped by surging oil prices. Workers' Party head Gleisi Hoffmann wrote on Twitter before the latest dividend was revealed that the payout policy "deprives the company of its investment capacity and only enriches shareholders." They say that while the company paid roughly 130 billion reais in dividends in the first six months of the year, investments made during the same period total only 17 billion reais.

☆ Cuba is in the middle of an escalating tug-of-war between Russia, U.S.
▼ + stars: | 2022-10-27 | by ( Associated Press | ) www.nbcnews.com time to read: +8 min

It also once again thrust the Caribbean island into the middle of an escalating tug-of-war between its seaside neighbor, the United States, and ally, Russia. The sales also potentially alleviated the weight of international sanctions on Russia for its invasion of Ukraine. Until the fall of the Soviet Union in 1991, the Soviets sold Cuba oil well below market price. A double hit to its power gridPreexisting economic turmoil and blackouts came to a head this fall when Cuba’s power grid took a double hit. Increased sales to China, India and even Cuba have helped Russia ease the economic brunt of sanctions.

☆ Cuba shouldn't be on sponsor of terrorism list, former U.S. officials say
▼ + stars: | 2022-10-20 | by ( Ed Augustin | Ed Augustin Is A British Journalist Based In Havana Who Has Written For The New York Times | The Guardian | ) www.nbcnews.com time to read: +9 min

HAVANA — Along with Iran, Syria and North Korea, Cuba is listed as a “state sponsor of terrorism” by the U.S. Department of State. Cuba has called the sponsor of terrorism designation "illegitimate and immoral," arguing that it deprives it of financing and credit sources. “‘Cuba is not a state sponsor of terrorism’ was a mantra from the moment I walked into the State Department to the moment I walked out,” he said. Throughout the 1980s, Cuba shared intelligence with, trained and apparently supplied weapons to revolutionary movements fighting military dictatorships in Central America. Cuba will once again be a “guarantor state.”The Biden administration has provided no evidence that Cuba sponsors terrorism.

Lafarge, which became part of Swiss-listed Holcim (HOLN.S) in 2015, agreed to pay $778 million in forfeiture and fines as part of the plea agreement. "Lafarge made a deal with the devil," Breon Peace, the top federal prosecutor in Brooklyn, told reporters following the guilty plea. At that point, Islamic State took possession of the remaining cement and sold it for the equivalent of $3.21 million, prosecutors said. REUTERS/Charles PlatiauHolcim said that former Lafarge executives involved in the conduct concealed it from Holcim, as well as from external auditors. No Lafarge executives were charged in the United States.

Gig company stocks were hammered by the news, with Uber (UBER.N), Lyft (LYFT.O) and DoorDash (DASH.N) all falling at least 10%. The proposal would require that workers be considered employees, entitled to more benefits and legal protections than contractors, when they are "economically dependent" on a company. Millions of Americans are working "gig" jobs and this labor has become vital to some transportation, restaurant, construction, health care and other industries. "Misclassification deprives workers of their federal labor protections, including their right to be paid their full, legally earned wages," Walsh said. Seth Harris, President Joe Biden's former top labor adviser, said the rule will not directly impact how courts determine whether workers are employees or independent contractors.

Gig company stocks were hammered on the news, with Uber (UBER.N), Lyft (LYFT.O) and DoorDash (DASH.N) all falling at least 10%. Employees can cost companies up to 30% more than independent contractors, studies suggest. U.S. Labor Secretary Marty Walsh in a statement said businesses often misclassify vulnerable workers as independent contractors. Those groups have said that any broad rule would hurt workers who want to remain independent and have flexibility. Worker advocacy groups have said that companies are increasingly misclassifying employees as independent contractors, depriving workers of fair pay and benefits to pad their profits.

☆ Labor proposal could upend rules for gig workers, companies
▼ + stars: | 2022-10-11 | by ( Associated Press | ) www.nbcnews.com time to read: +2 min

Misclassifying workers as independent contractors denies those workers protections under federal labor standards, promotes wage theft, allows certain employers to gain an unfair advantage over businesses, and hurts the economy, the department said Tuesday. The misclassification of workers has negatively impacted delivery workers, custodians, truck drivers, waiters, construction workers and more, according to the department. Wedbush analyst Dan Ives said the proposal would constitute a major change for workers and employers from previous years. Last year the Biden administration repealed a Trump-era rule that would have made it easier to classify workers as independent contractors. The repeal meant the Labor Department was able to continue using existing rules under the 1938 Fair Labor Standards Act to determine whether a worker should be classified as an independent contractor.

☆ Proposed labor rule could give millions of gig workers employee status
▼ + stars: | 2022-10-11 | by ( Vanessa Yurkevich | ) edition.cnn.com time to read: +3 min

CNN Business —The Biden administration is proposing a new labor rule that could classify millions of gig workers as employees — a move that would challenge the low-cost labor models behind Silicon Valley heavyweights such as Uber, Lyft and DoorDash. The proposed rule announced by the Labor Department on Tuesday aims to broaden the test that determines whether workers are entitled to protections such as minimum wage and overtime pay under federal law. The new rule would affect workers in a wide range of industries like home care, trucking, delivery services, and hospitality, according to the Labor Department. Shares of Uber (UBER (UBER)) and Lyft (LYFT (LYFT)), whose drivers are considered independent contractors, fell nearly 10% on the news of the proposed rule. A 45-day public comment period on the proposed rule will start October 13.

☆ The Biden administration wants to make it easier for gig workers to be full-time so Uber drivers and home health workers could qualify for benefits and better pay
▼ + stars: | 2022-10-11 | by ( Jason Lalljee | Juliana Kaplan | ) www.businessinsider.com time to read: +4 min

The Labor Department announced a proposal making it easier for gig workers to be classified as employees. That proposal comes after years of pushback from gig work companies like Uber and Lyft. It's no secret that gig work has been spreading, as the rise of on-demand apps necessitated the rise of on-demand workers. Part of the expansion of unemployment benefits, which also included an additional $600 and then $300 a week, made gig workers eligible for benefits for the first time. The Labor Department announcement comes after years of organizing from labor activists pushing for gig workers to be classified as full employees.

☆ Home cheat home: How real-estate agents are ripping off homebuyers
▼ + stars: | 2022-09-28 | by ( Mattathias Schwartz | ) www.businessinsider.com time to read: +20 min

The other day, Linda, the real-estate agent whom my wife and I used to buy our home, called me out of the blue. Real-estate agents, like doctors, are the friendly, knowledgeable face of a bewildering, price-gouging system. If Americans paid the same rate as the British, they would save more than $72 billion a year in real-estate commissions. The potential for big money, in turn, has led more and more Americans to become real-estate agents. Every dollar that is paid out in a real-estate transaction — to sellers, agents, inspectors, insurers, and the IRS — comes from you, the buyer.

☆ Cyprus LGBT+ pride marchers seek equal family rights
▼ + stars: | 2022-09-25 | by ( ) www.reuters.com time to read: +2 min

Register now for FREE unlimited access to Reuters.com RegisterNICOSIA, Sept 25 (Reuters) - Hundreds of activists turned streets of the Cypriot capital into a sea of rainbows on Sunday on a pride march in a push for equal rights irrespective of sexual orientation. Marriage of same-sex couples is not permitted in Cyprus, while same-sex civil partnerships with a limted set of rights are legal. Register now for FREE unlimited access to Reuters.com RegisterActivists say a lack of a family law framework for same-sex couples deprives them from the right to adopt children, or give equal parental rights to a couple in a same-sex civil partnership. Other concerns included legal gender change recognition on state documents, which has been pending since 2015. Register now for FREE unlimited access to Reuters.com RegisterReporting By Michele Kambas; Editing by Toby ChopraOur Standards: The Thomson Reuters Trust Principles.

☆ China jails man for 24 years over attack on women at restaurant
▼ + stars: | 2022-09-23 | by ( Rhoda Kwan | Rhoda Kwan Is A Taipei-Based Journalist. | ) www.nbcnews.com time to read: +4 min

A man in northern China was sentenced to 24 years in prison on Friday in connection with an attack on four women at a restaurant that stirred a national conversation on gender-based violence. The attack left two of the women hospitalized. CCTV footage captured a violent attack on women at a restaurant in Tangshan, China, in June. The Tangshan attack, CCTV footage of which quickly spread online, elicited an outpouring of anger among Chinese internet users, many of whom voiced serious concerns over the treatment of women in the country. The verdict on Friday was cheered on Weibo, a popular Chinese social media platform, with many commenters saying Chen’s harsh sentence was well deserved.

☆ McDonald's must face $10 billion racial discrimination suit from media group
▼ + stars: | 2022-09-23 | by ( Jordan Valinsky | Cnn Business | ) edition.cnn.com time to read: +1 min

New York (CNN Business) McDonald's will have to defend itself against a $10 billion lawsuit from media mogul Byron Allen over an allegation that the fast food chain doesn't advertise with Black-owned media. A federal court ruled last week said that Allen and his company, Allen Media Group , can try to prove in court that McDonald's violated civil rights laws. "This is about economic inclusion of African American-owned businesses in the US economy," Allen said in the press release. "McDonald's takes billions from African American consumers and gives almost nothing back. The biggest trade deficit in America is the trade deficit between White corporate America and Black America, and McDonald's is guilty of perpetuating this disparity."

☆ What Happens When M.B.A. Students Don’t Tell Recruiters Their Grades?
▼ + stars: | 2022-09-17 | by ( Chris Kornelis | ) www.wsj.com time to read: 1 min

While proponents say grade nondisclosure reduces competitiveness among peers, critics say it deprives employers of a valuable tool to assess candidates. If students in top-tier M.B.A. programs don’t have to show recruiters their grades, will they still try to get good grades? That was one of the questions three professors sought to answer in a new paper that looks at so-called grade-nondisclosure policies at some of the nation’s top business schools and how those policies affect student behavior.

☆ The Eteri Expiration Date: Kamila Valieva and Russia's quest for figure skating gold
▼ + stars: | 2022-02-07 | by ( Gabrielle Paluch | ) www.businessinsider.com time to read: +11 min

Russia's Kamila Valieva is the first female figure skater to land a quad at the Olympics. Kamila Valieva has made Olympics history in Beijing by landing two quadruple jumps – paving the way for a Gold in the team figure skating competition. The Quad Squad – Kamila Valieva, Anna Scherbakova, and Alexandra Trusova – at the ISU European Figure Skating Championships on Jan. 15, 2022. Kamila Valieva of Russia performs during the ISU European Figure Skating Championships in January in Tallinn, Estonia. Vladimir Pesnya/Epsilon/Getty ImagesCoach Eteri Tutberidze with skater Alexandra Trusova at the Russian Figure Skating Championships in 2021.

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