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☆ Noncompete clauses 'chill' worker rights and are usually illegal, NLRB lawyer says
▼ + stars: | 2023-05-30 | by ( Charles R. Davis | ) www.businessinsider.com time to read: +5 min

Noncompete clauses likely violate federal labor law, NLRB's general counsel wrote Tuesday. Criticism from across the aisleWorker advocates have long maintained that noncompete clauses are an unjust infringement on liberty that reduces employees' earning potential. But noncompete clauses have also attracted critics on the right. The criticism from both sides of the political spectrum comes as noncompete clauses have expanded from high-salary workers in fields such as technology and finance to lower-wage professions, such as fast food. That proposed rule, which will be subject to a legal challenge if and when it is finalized, came after the White House encouraged the commission to tackle noncompete clauses, framing them as a barrier to healthy competition and wage growth.

Persons: NLRB's, —, Joe Biden, Jennifer Abruzzo, Biden, Najah Farley, John Lettieri, Insider's Juliana Kaplan Organizations: Workers, Service, Companies, National Labor Relations Board, National Labor Relations Act, Worker, National Employment Law, American Enterprise Institute, Federal Trade Commission, House Locations: Abruzzo, California , Massachusetts, Illinois

☆ Firefighters who risked their lives fighting wildfires were paid less than legal minimum by a federal contractor, investigators say
▼ + stars: | 2023-05-24 | by ( Charles R. Davis | ) www.businessinsider.com time to read: +3 min

A federal contractor paid firefighters as little as $2.85/hour, according to the Department of Labor. Since 2010, the Oregon-based company KL Farms/Fire LLC has been awarded 72 federal contracts worth more than $2.6 million, according to government records. On average, per federal investigators, these workers put in an average of 70 hours a week fighting blazes in 2020 and 2021. In total, the Department of Labor said it recovered just over $152,000 in unpaid overtime and fringe benefits for 57 firefighters and truck drivers, with one worker receiving over $14,700. Email this reporter: cdavis@insider.comMay 25, 2023: This story was updated to include comment from KL Farms/Fire LLC.

☆ A Russian white nationalist says he used American military vehicles for an attack inside Russia this week
▼ + stars: | 2023-05-23 | by ( Charles R. Davis | ) www.businessinsider.com time to read: +3 min

US military vehicles were used for a raid this week inside of Russia, the Financial Times reported. The head of a far-right militia, the Russian Volunteer Corps, boasted of having several US vehicles. Nikitin is described by the Anti-Defamation League as "a Russian neo-Nazi" with ties to Ukraine's far-right Azov movement. After an earlier raid inside Russia, Nikitin, through his fashion brand's Telegram channel, described his enemy as "the multi-racial and imperialistic Putin regime," the Telegraph reported. Under the terms of US military aid, Ukraine is strictly forbidden from transferring American military gear to a third party.

☆ Taking on the F.B.I., Trump Allies Single Out a Former Agent
▼ + stars: | 2023-05-18 | by ( Adam Goldman | ) www.nytimes.com time to read: +1 min

agent, Timothy R. Thibault reeled in big names while investigating public corruption, sending two Democratic congressmen to prison and overseeing sensitive inquiries into the Clinton Foundation and the former governor of Virginia, Terry McAuliffe, another Democrat. In their casting, Mr. Thibault, who retired last year, is the face of bias and misconduct at the bureau. Powerful Republican lawmakers, including Representative Jim Jordan and Senator Charles R. Grassley, demanded that Mr. Thibault testify before their committees. official, Mr. Jordan’s panel in a news release last year denounced Mr. Thibault as “public enemy No. 1.”But his story is more complicated than Republicans have made it out to be.

☆ As earnings season winds down, investors turn to Tuesday's debt ceiling meeting
▼ + stars: | 2023-05-06 | by ( Zev Fima | ) www.cnbc.com time to read: +12 min

With only a small fraction of the S & P 500 left to report quarterly earnings, investors are now turning their focus to another major hurdle for the markets and economy: the debt ceiling crisis. Earlier this week, we looked back to debt limit crisis of 2011 for potential lessons. The protracted fight ultimately ended in an agreement in early August of that year, but it was a choppy summertime ride for investors. Within the portfolio, Wynn Resorts will report Tuesday, after the closing bell, and Disney will report on Wednesday, after the closing bell. Estee Lauder (EL) and Emerson Electric (EMR) reported earnings before the opening bell.

☆ Regional bank stocks could be a market afterthought in the week ahead
▼ + stars: | 2023-05-05 | by ( Scott Schnipper | ) www.cnbc.com time to read: +7 min

For the immediate economic and earnings and growth outlook, it almost seems irrelevant whether regional bank stocks rally, steady or sell off more next week. Regional banks were top of mind for investors this past week, as First Republic failed , the SPDR S & P Regional Banking ETF tumbled more than 10% — twice the five-day loss in the S & P 500 Energy Index, the hardest hit S & P sector — and lenders such as PacWest Bancorp and Western Alliance Bancorp lost billions in market value. And, for all that, the S & P 500 only fell about 0.75% this week. Now the conventional wisdom on Wall Street is that regardless of how the regional bank stocks trade, it's a given that bank lending officers are going to pull in their horns and risk management desks will grow more risk averse. But stocks still face a host of issues, none of which are going away next week.

☆ If Charles wants a coronation, he should pay for it himself
▼ + stars: | 2023-05-05 | by ( Opinion Ahmed Twaij | ) edition.cnn.com time to read: +6 min

If Charles III wants the pomp and ceremony of a coronation, he should instead use a negligible portion of the vast sums of money he has accrued over the years thanks to his birth-given status as a royal. Spain’s last formal coronation was all the way back in 1555, while Belgium’s monarchy doesn’t even have a crown with which to conduct a coronation. It also found that a plurality of 45% believe Charles is “out of touch” with the experiences of the public. However, these tourist dollars might well continue whether or not the royal family does. Maybe if a tighter budget is applied to the British royal family, Charles rather than taxpayers will be paying the next time he opts to board a £32,000 ($40,200) charter flight to attend a James Bond premiere.

☆ Walmart names insider Latriece Watkins as US merchandising chief
▼ + stars: | 2023-05-05 | by ( ) www.reuters.com time to read: +1 min

May 5 (Reuters) - Walmart Inc (WMT.N) appointed Latriece Watkins as its U.S. chief merchandising officer, according to a memo seen by Reuters on Friday, days after Charles Redfield stepped down from the role. Watkins, who joined the company 24 years ago, has served in several roles across Walmart U.S. and Sam's Club. Last month, Walmart U.S. CEO John Furner wrote to associates that Redfield would step down and assume an advisory role supporting the U.S. business effective May 1. Watkins' appointment takes place at a time when consumer spending power has been reduced by high inflation, hurting Walmart's business and leading the company to adopt a cautious stance on 2023. "We have a rich history of strong leaders who embrace this constant change, set bold visions for our teams and best represent the humanity that is Walmart," Furner wrote in the memo.

[1/3] King Charles receives Australian Prime Minister Anthony Albanese during an audience at Buckingham Palace, London. Australian Prime Minister Anthony Albanese and his New Zealand counterpart, Chris Hipkins, have travelled to London where they are due to meet Prime Minister Rishi Sunak on Friday. King Charles is head of state in Australia, New Zealand and 12 other Commonwealth realms outside the United Kingdom, although the role is largely ceremonial. I want to see an Australian as Australia's head of state," Albanese said in an interview with state broadcaster ABC on Friday. Albanese said would take the oath of allegiance to King Charles at the ceremony.

☆ Opinion: We want a choice instead of Charles
▼ + stars: | 2023-05-01 | by ( Opinion Graham Smith | ) edition.cnn.com time to read: +5 min

CNN —When King Charles rumbles up the road from Buckingham Palace in his horse drawn carriage on May 6, off to his coronation, I will be nearby, protesting for the abolition of the British monarchy. According to a recent Savanta poll, support for abolition – that is, Britain having an elected head of state – is close to a third. Protesters hold signs reading "Not My King" behind well wishers gathered for the arrival of King Charles III and Queen Consort Camilla at the Liverpool Central Library on April 26, 2023. So, when we shout “Not My King!” at Charles, it is a proud statement of democratic principle – that we recognise no person’s claim to be above us because of birth. On May 6 it’s about saying very clearly, we want an election instead of a coronation, and a choice instead of Charles.

Jeremy Selwyn/WPA Pool/Getty Images Camilla stands next to Queen Elizabeth II during a Diamond Jubilee pageant on the River Thames in June 2012. Chris Jackson/Getty Images From left, Camilla, Charles, Queen Elizabeth II and Prince Philip attend the state opening of Parliament in May 2013. From left are Camilla, Charles, Queen Elizabeth II, Prince Louis, Duchess Catherine, Princess Charlotte, Prince George and Prince William. Frank Augstein/WPA Pool/Getty Images In pictures: Britain's Queen Camilla Prev NextShe reportedly met Prince Charles at a polo match in Windsor in 1970 and they became friends. From left are Camilla, Charles, Queen Elizabeth II, Prince Louis, Duchess Catherine, Princess Charlotte, Prince George and Prince William.

☆ Go Ahead, Judge This Book by Its Cover. There’s Nothing Inside.
▼ + stars: | 2023-04-28 | by ( Anna Kodé | ) www.nytimes.com time to read: +2 min

The tomes are all “rescue books,” ones that would otherwise be discarded or recycled for paper pulp, said Charles Roberts, the president of Books by the Foot’s parent company, Wonder Book. There are other, sometimes counterintuitive, uses for fake tomes as well. Instead, perforated aluminum plates emblazoned with images of books can be found, primarily on the upper shelves of the atrium. Tina Ramchandani, an interior designer in New York, said that her firm has used fake books in both commercial and residential settings. For a dressing room in a members-only club in New Jersey, “where nobody was really going to read the books, but where there were bookshelves, we got all fake books,” Ms. Ramchandani said.

☆ Florida prosecutor blamed an 'entry-level' staffer after a document surfaced from his office outlining harsher penalties for 'Hispanic' defendants
▼ + stars: | 2023-04-20 | by ( Charles R. Davis | ) www.businessinsider.com time to read: +5 min

A Florida prosecutor has confirmed to Insider the authenticity of a document that outlined a racist policy in his office. The document called for "Hispanic" defendants to receive stricter penalties for "No Valid Driver's License." The prosecutor, Jack Campbell, blamed the document on a junior staffer who has been "reprimanded." First elected in 2016, Campbell, is the state attorney for the 2nd Judicial District, making him the chief prosecutor for six counties in northern Florida. Hayes, who worked for Campbell as an assistant state attorney, left Florida in January and now works as an assistant district attorney in Philadelphia.

☆ Lawyers for ex-Fox News producer suing for discrimination vow to bring 'meaningful changes' to network after Dominion settlement
▼ + stars: | 2023-04-19 | by ( Charles R. Davis | ) www.businessinsider.com time to read: +3 min

Lawyers for a former Fox News producer vowed to continue their legal fight on Tuesday. Grossberg "remains as committed as ever to obtaining vindication," her lawyers said. Parisis G. Filippatos and Tanvir H. Rhaman, lawyers for Grossberg, suggested Tuesday that she is not eager to settle her case, at least not just yet. The goal, they claimed, is "bringing about truly real and meaningful institutional changes at Fox News through every vehicle available to us in our legal system." In a statement on Tuesday, the election technology company Smartmatic said it "remains committed" to its own $2.7 billion defamation lawsuit against the network.

☆ Goldman has an options strategy that pays off if these three giants move big in either direction on earnings
▼ + stars: | 2023-04-19 | by ( Brian Evans | ) www.cnbc.com time to read: +3 min

Goldman thinks all three companies could face strong volatility on earnings day, especially since mutual funds are underweight on the stocks. Goldman also charted each company's implied earnings day move against its eight-quarter average. META YTD mountain META is among the slate of tech stocks that made the Goldman list, and the company has an implied earnings day move of 9.8%. The firm said the implied earnings day move for Meta shares is 9.8%, and the stock has an eight-quarter average move of 14%. Walmart shares have an implied move of 1.4% on earnings day, compared to the eight-quarter average swing of 4%.

☆ Elizabeth Holmes is asking a judge to reverse her 'unjust' conviction or reduce her 11-year sentence one week before she's set to report to prison
▼ + stars: | 2023-04-18 | by ( Charles R. Davis | Sarah Jackson | ) www.businessinsider.com time to read: +3 min

Theranos founder Elizabeth Holmes is asking a judge to grant her a new trial or reduce her prison sentence. Holmes' attorneys claim she was unfairly barred from citing "compelling evidence" of her innocence. She's currently set to begin serving her 11-year prison sentence next week. Holmes has made several attempts to throw out her conviction, or to delay or reduce her sentence, in the past year. In May, her attorneys asked the judge to overturn her conviction, saying there was "insufficient evidence" for any "rational juror."

☆ Fox News' settlement with Dominion doesn't mean the risk of embarrassment is over, with Smartmatic saying it 'remains committed' to its own defamation case against the network
▼ + stars: | 2023-04-18 | by ( Charles R. Davis | ) www.businessinsider.com time to read: +5 min

The company made the statement following Fox News' $787 million settlement with Dominion on Tuesday. Smartmatic sued Fox News for defamation in 2021 and is seeking $2.7 billion in damages. (In a statement, Fox News acknowledged the false statements and said the settlement reflected its "commitment to the highest journalistic standards.") It also opened the door to adding Fox News' parent company, the Fox Corporation, as a defendant. Before settling with Dominion, Fox News' public relations team said the same thing.

☆ King Charles has a personal fortune of almost $750 million — hundreds of millions more than the late Queen, report says
▼ + stars: | 2023-04-16 | by ( Ryan Hogg | ) www.businessinsider.com time to read: +3 min

King Charles has a personal fortune worth nearly $750 million, The Sunday Times reported. Analysis by the London newspaper found he is worth about $285 million more than the late Queen. It generated £23 million ($28.5 million) in profits last year and £212 million ($263 million) in the decade to 2022. He is likely to be ahead of David and Victoria Beckham, who were worth £380 million ($472 million) in last year's ranking, and Sir Elton John, who was worth £395 million ($490 million). As King, Charles is now in control of the Crown Estate, worth about £15.6 billion ($19.4 billion).

☆ Walmart’s US chief marketing officer stepping down as retailer warns of tough year
▼ + stars: | 2023-04-15 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +3 min

New York CNN —Walmart’s chief merchandising officer for its US operations is stepping down from the job as the retailer faces a tougher year ahead, an internal memo shared to US associates Friday said. In a memo viewed by CNN Business, Walmart U.S. CEO John Furner said Redfield wants to spend more time with his family. Redfield held his position at the retailer for a little more than a year, beginning in January 2022. Its strong holiday sales were fueled by groceries. “There are merchants, and then there’s our Chief Merchandising Officer Charles Redfield,” CEO John Furner said in a memo viewed by CNN Business.

☆ Walmart US merchandising chief Redfield to step down
▼ + stars: | 2023-04-14 | by ( ) www.reuters.com time to read: +1 min

April 14 (Reuters) - Walmart Inc (WMT.N) U.S. chief merchandising officer Charles Redfield is stepping down after just over a year in the role, according to an internal memo seen by Reuters on Friday, at a time the retailer is navigating a tightening spending environment. Redfield will assume an advisory role supporting the U.S. business effective May 1, Walmart U.S. CEO John Furner wrote in a memo to US-based associates on Friday, without naming a successor. Data from the Commerce Department on Friday also showed U.S. retail sales fell more than expected in March. Redfield started his Walmart career as a cashier at Sam's Club and has been with the company for 32 years. He had led the U.S. food and grocery business since 2015 prior to taking up his role as chief merchandising officer.

☆ Walmart Shakes Up U.S. Leadership Ranks
▼ + stars: | 2023-04-14 | by ( Sarah Nassauer | ) www.wsj.com time to read: 1 min

Walmart is the country’s largest retailer by revenue. Walmart Inc. is shuffling the leadership of its merchandising ranks, according to a document viewed by The Wall Street Journal, a shift at the country’s largest retailer as it works to navigate an unpredictable consumer landscape. Charles Redfield , who became chief merchandising officer last year, will leave the role May 1 and stay on as an adviser, said John Furner , who leads Walmart ’s U.S. operations, in a memo to staff Friday.

☆ Man gets prison time after feds discover $3.4 billion in stolen Bitcoin hidden inside a Cheetos popcorn tin and underground safe
▼ + stars: | 2023-04-14 | by ( Charles R. Davis | ) www.businessinsider.com time to read: +2 min

A man convicted of stealing around 50,000 Bitcoin was sentenced Friday to a year in prison. At the it was seized, the Bitcoin was worth over $3.4 billion. Prosecutors said the crypto-currency was stolen from the Silk Road dark web marketplace. There investigators recovered more than 50,000 Bitcoin, split between "an underground floor safe and on a single-board computer that was submerged under blankets in a popcorn tin stored in a bathroom closet." A photo shared by the department shows that the crypto tin originally contained Cheetos-brand popcorn in both Flamin' Hot and Cheddar flavors.

☆ John Edwards and Donald Trump were both accused of paying money to women who said they had affairs with them. But the cases are quite different.
▼ + stars: | 2023-04-14 | by ( Charles R. Davis | ) www.businessinsider.com time to read: +7 min

Like Donald Trump, John Edwards was accused of paying off a mistress during a campaign. Edwards was charged with campaign finance violations over the payments but wasn't convicted. For one, Trump has not been charged with violating federal campaign finance laws. It may well be true that the Edwards precedent is why the Justice Department didn't charge Trump with a campaign finance violation. Bragg does not need to prove that Trump broke federal campaign finance laws; he needs to prove that he falsified business records, which is a crime no matter the reason.

☆ Catholic leader accuses Ron DeSantis — who has positioned himself as a defender of the Christian faith — and Florida Republicans of seeking to criminalize 'empathy' with new anti-immigrant crackdown
▼ + stars: | 2023-04-14 | by ( Charles R. Davis | ) www.businessinsider.com time to read: +4 min

Miami Archbishop Thomas Wenski says a Republican immigration bill would criminalize "empathy." Wenski accused Florida Republicans of trying to "demonize" vulnerable people. In a statement issued Thursday, Miami Archbishop Thomas Wenski echoed that criticism, accusing Florida Republicans of playing state-level politics with a federal issue. It is not the first time that DeSantis and Florida's Republicans have run afoul of the Catholic Church. In February, the Florida Catholic Conference, which represents the state's bishops, told Insider that it opposes a DeSantis-led push to expand the death penalty.

☆ Walmart's chief merchandising officer to depart as retailer navigates tough sales environment
▼ + stars: | 2023-04-14 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: 1 min

Walmart Chief Merchandising Officer Charles Redfield is stepping down next month. Walmart U.S. CEO John Furner said in an employee memo on Friday that Redfield will leave the role on May 1. He will stay on as an advisor for the business. The Wall Street Journal first reported Redfield's departure. Redfield's replacement has not yet been announced, a company spokesman said.

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