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☆ Moderna CEO Defends Pricing Plans for Covid-19 Shot
  + stars: | 2023-03-06 | by ( Jared S. Hopkins | ) www.wsj.com   time to read: 1 min
Moderna Inc. Chief Executive Stéphane Bancel pushed back against criticism of the company’s pricing plans for its Covid-19 vaccine at Monday’s Wall Street Journal Health Forum. U.S. politicians including Sens. Bernie Sanders (I., Vt.), Elizabeth Warren (D., Mass.) and Peter Welch (D., Vt.) have questioned the company’s strategy around commercial pricing, which could be unveiled in the coming months. Moderna received funding from the U.S. government related to development of its Covid-19 vaccine.
☆ Moderna CEO Defends Pricing Plans for Covid Shot
  + stars: | 2023-03-06 | by ( Jared S. Hopkins | ) www.wsj.com   time to read: 1 min
Moderna CEO Stéphane Bancel, said public funding sped the vaccine’s development. Moderna Inc. Chief Executive Stéphane Bancel pushed back against criticism of the company’s pricing plans for its Covid-19 vaccine at Monday’s Wall Street Journal Health Forum. Bernie Sanders (I., Vt.), Elizabeth Warren (D., Mass.) and Peter Welch (D., Vt.) have questioned the company’s strategy around commercial pricing, which could be unveiled in the coming months. Moderna received funding from the U.S. government related to development of its Covid-19 vaccine.
☆ Let's ditch the 5-day workweek and the 8-hour workday, says a professor writing a book on how to fix work
  + stars: | 2023-03-05 | by ( Juliana Kaplan | ) www.businessinsider.com   time to read: +6 min
He thinks a shorter week and a shorter work day are overdue, and that we're heading in the right direction. People do want to work, Bruno said, but they don't want to be resentful about being there. When it comes to a shorter workweek, Bruno said, "I'm very confident it would bring people in, because what are you saying to those people? Senator Bernie Sanders is calling for a shorter workweek; Rep. Mark Takano has reintroduced his proposal to make a 32-hour workweek law in the US. Have you tried out a shorter workweek or workday?
☆ As Social Security reform talks heat up, changes to the retirement age, payroll tax may be on the table
  + stars: | 2023-03-04 | by ( Lorie Konish | ) www.cnbc.com   time to read: +5 min
A recent Congressional Budget Office report projected Social Security's combined funds may run out in 2033, two years sooner than the Social Security actuaries estimated last year. Raising retirement age may be a 20% benefit cutThe Social Security full retirement age is gradually changing to 67, based on changes enacted in 1983. Lawmakers are considering raising the full retirement age again to age 70. Current beneficiaries and near retirees would likely be spared from any retirement age changes. Warren and Sanders are calling for reapplying the Social Security payroll tax to income over $250,000, while also taxing certain business and investment income at 12.4%.
☆ Marianne Williamson opens long shot 2024 challenge to Biden
  + stars: | 2023-03-04 | by ( ) www.cnbc.com   time to read: +5 min
Biden, 80, is the oldest president in U.S. history and would be 86 at the end of a second term. Biden's political advisers say they aren't worried about the Democratic primary and say Biden is anxious to defeat Donald Trump again in the general election. Williamson insists her 2024 campaign is about far more than just making a statement. A Texas native who now lives in Beverly Hills, California, Williamson is the author of more than a dozen books. She ran an unsuccessful independent congressional campaign in California in 2014 and supported Vermont Sen. Bernie Sanders' 2016 progressive challenge of eventual Democratic presidential nominee Hillary Clinton.
☆ ECB confronts a cold reality: companies are cashing in on inflation
  + stars: | 2023-03-02 | by ( Francesco Canepa | ) www.reuters.com   time to read: +9 min
"It's clear that profit expansion has played a larger role in the European inflation story in the last six months or so," said Paul Donovan, chief economist at UBS Global Wealth Management. "The ECB has failed to justify what it's doing in the context of a more profit-focused inflation story." Instead, national accounts and earnings reports from listed companies are being used as proxies to paint the inflation picture. "The main story of the risks going forward is still that there's a looming wage-price spiral which should make the central bank even more aggressive in hiking interest rates." loadingloadingEven inside the ECB, labour representatives demanding higher pay for central bank staff have distanced themselves from what they described as the institution's "anti-worker bias".
☆ Pete Buttigieg's presidential hopes make him an easy target for Republicans — and his slow response in Ohio gave them plenty of ammo
  + stars: | 2023-03-01 | by ( Nicole Gaudiano | ) www.businessinsider.com   time to read: +9 min
Transportation Secretary Pete Buttigieg hasn't ruled out running for the White House again. He's in the spotlight and the hot seat far more than most other transportation secretaries before him. The search-engine test shows Buttigieg has become a high-profile target who finds himself in the spotlight far more than most other transportation secretaries before him. However, no transportation secretary has likely entered the job with more star power. After he strode onto the stage of The Late Show last fall, host Stephen Colbert noted that not many transportation secretaries have been guests on late night talk shows.
☆ U.S. Senate panel to vote to subpoena Starbucks CEO to testify
  + stars: | 2023-03-01 | by ( ) www.reuters.com   time to read: 1 min
WASHINGTON, March 1 (Reuters) - A U.S. Senate committee will vote next week on whether to issue a subpoena for Starbucks (SBUX.O) Chief Executive Howard Schultz to testify at a hearing on the company's compliance with federal labor law. Senate Health, Education, Labor, and Pensions Committee chair Bernie Sanders said the committee will also vote to authorize a committee investigation into major corporations’ labor law violations. Schultz last month declined an invitation from 11 senators to testify on March 9. Reporting by David Shepardson; Editing by Chizu NomiyamaOur Standards: The Thomson Reuters Trust Principles.
☆ Sen. Bernie Sanders calls vote on subpoena for Starbucks CEO Howard Schultz
  + stars: | 2023-03-01 | by ( Amelia Lucas | ) www.cnbc.com   time to read: +2 min
Sen. Bernie Sanders is making good on his threat of a subpoena for Starbucks CEO Howard Schultz on what Sanders has called union-busting activity at the company's coffee shops. Sanders said Wednesday that the Senate's Health, Education, Labor and Pensions Committee will vote March 8 on whether to issue a subpoena for Schultz, who previously declined to appear in front of the committee. Sanders said in a statement that Schultz has denied meeting and document requests and refused to answer questions from him and his fellow senators. "Unfortunately, Mr. Schultz has given us no choice, but to subpoena him," Sanders said in a statement. In response, Sanders, who chairs the Senate committee, hinted that lawmakers could compel Schultz to appear by issuing a subpoena.
☆ Starbucks corporate employees sign petition to reverse return to office mandate and stop alleged union busting
  + stars: | 2023-03-01 | by ( Aaron Mcdade | ) www.businessinsider.com   time to read: +3 min
Dozens of Starbucks employees signed a letter Wednesday pushing back against return to office policies. The corporate staffers are calling to overturn a mandate to come in at least three days per week. Months after Starbucks CEO Howard Schultz said he was pleading with employees to return to the office, the executive ultimately announced a policy in January requiring employees "within commuting distance" to return to the office at least three days per week. The return to office policy and alleged union busting is "fracturing trust in Starbucks leadership," the letter states. The letter makes official requests for the company to reverse the return to office policy and "commit to a policy of neutrality and respect federal labor laws."
☆ Starbucks displayed ‘egregious and widespread misconduct’ in union fight, judge says
  + stars: | 2023-03-01 | by ( Danielle Wiener-Bronner | ) edition.cnn.com   time to read: +3 min
New York CNN —Starbucks has displayed “egregious and widespread misconduct” in its dealings with employees involved in efforts to unionize Buffalo, New York, stores, a National Labor Relations Board judge said in an order Wednesday. Starbucks workers attend a rally as they go on a one-day strike outside a store in Buffalo, New York, November 17, 2022. “I don’t think a union has a place in Starbucks,” Schultz recently told CNN’s Poppy Harlow. But we as a company have a right also to say, we have a different vision that is better,” he said. “This is truly a historic ruling,” Gary Bonadonna Jr., manager of the Rochester Regional Joint Board of Workers United, SEIU, said in a statement issued by Starbucks Workers United.
☆ Bernie Sanders is holding a vote to subpoena Howard Schultz for fighting Starbucks unionization
  + stars: | 2023-03-01 | by ( Nicole Gaudiano | ) www.businessinsider.com   time to read: +4 min
Sen. Bernie Sanders announced he's holding a vote on issuing a subpoena for Starbucks CEO Howard Schultz. The Senate HELP chairman wants Schultz to testify on his company's fight against unionization. Sanders, the new chairman of the Senate Health, Education, Labor and Pensions Committee, also wants the committee to authorize an investigation into major corporations' labor law violations. Schultz rejoined Starbucks as interim CEO in April 2022 and will transition out of the role this month, the company wrote to Sanders in February. "A multi-billion dollar corporation like Starbucks cannot continue to break federal labor law with impunity," Sanders said.
☆ As the 4-day workweek gains traction, Congressman Mark Takano is reintroducing his proposal to make it law
  + stars: | 2023-03-01 | by ( Juliana Kaplan | Ayelet Sheffey | ) www.businessinsider.com   time to read: +4 min
Takano is reintroducing his act to make the standard workweek just 32 hours long. Takano has reintroduced his 32 Hour Workweek Act, which would tweak the Fair Labor Standards Act (FLSA) to make the standard workweek 32 hours, instead of the 40 it's currently at. It's not the first time that Takano has pushed to make the working week shorter. "So a four-day work week is something that connects a lot of Americans." Last month, Maryland lawmakers introduced the Four-Day Workweek Act of 2023, which would reduce an employee's workweek to 32 hours without cutting their pay while giving employers a tax credit.
☆ There are whispers on Capitol Hill of a rare bipartisan effort to overhaul Social Security as the program is set to go broke in less than 10 years
  + stars: | 2023-03-01 | by ( Jason Lalljee | ) www.businessinsider.com   time to read: +4 min
A group of senators is considering a sovereign wealth fund (SWF) to prevent Social Security insolvency, Semafor reported. A SWF is a government-backed investment fund, and its profits would be used to pay Social Security benefits. In this case, such investments would be used to fund Social Security payments. The goal is, members of the group told Semafor, for Social Security to be solvent for 75 more years, at least. "Although the final framework is still taking shape, there are no cuts for Americans currently receiving Social Security benefits in our plan.
☆ Warren Buffett slams critics of stock buybacks as economically 'illiterate'
  + stars: | 2023-02-27 | by ( Carla Mozée | ) www.businessinsider.com   time to read: +3 min
Billionaire investor Warren Buffett calls stock buyback critics economically '"illiterate". He pushed back against criticism against share repurchases his widely read letter to shareholders released Saturday. His scathing pushback on Saturday was aimed toward opponents of stock buybacks, which include high-profile critics such as fellow Democrat President Joe Biden. Biden and other Democratic lawmakers say stock buybacks benefit corporations and their executives at the cost of shareholders. As for Berkshire, it cut its share repurchases this year to $8 billion, but its cash stockpile still declined.
☆ Transportation Secretary Pete Buttigieg says 'he'll do some thinking' on whether he should have visited East Palestine, Ohio sooner
  + stars: | 2023-02-23 | by ( Nicole Gaudiano | ) www.businessinsider.com   time to read: +3 min
Pete Buttigieg said he could have expressed concern "sooner" for East Palestine, Ohio, after a train derailed. He said he'll "do some thinking" on whether it was a mistake to wait to visit. Asked on Thursday whether it was a mistake to have held off on visiting the community, Buttigieg said he'll "do some thinking" on that. "I felt strongly about this and could have expressed that sooner," he said. Buttigieg acknowledged earlier in the week that he could have spoken out sooner about the derailment.
☆ The White House is reportedly eyeing a tax on high-earning Americans to fund Social Security after Bernie Sanders pushed it
  + stars: | 2023-02-23 | by ( Juliana Kaplan | Jason Lalljee | ) www.businessinsider.com   time to read: +4 min
Bernie Sanders met with Joe Biden to pitch a tax on high-earning Americans to fund Social Security, The Washington Post reported. Sanders advocated for Biden to increase payroll taxes on high-earning Americans to fund Social Security for 70 more years as the program approaches insolvency in the next decade. Sanders' proposal would raise the cap on how much income is subject to the payroll taxes that pay for Social Security. According to a White House official, the White House has not endorsed any specific bill — but the president welcomes proposals from members of Congress on how to keep Social Security solvent and make the program even stronger. The idea of an expanded payroll tax to shore up Social Security isn't new for President Biden.
☆ Bernie Sanders says 'we want to look at a shorter workweek' as part of his pro-worker agenda leading a key Senate panel on labor
  + stars: | 2023-02-23 | by ( Nicole Gaudiano | ) www.businessinsider.com   time to read: +6 min
Sen. Bernie Sanders is the new head of a key Senate panel on labor issues. Sen. Bernie Sanders is pushing for a four-day workweek, worker-owned businesses, and taxing robots that replace workers. Sanders told Insider he plans to hold at least one hearing on the future of work, exploring how workers can benefit from a revolution in technology. "It is an outrage that you have a billionaire like Howard Schultz engaging in vicious anti-union activity and I think he has got to explain his illegal behavior to the Senate," Sanders told me. "As technology increases worker productivity, we want to look at a shorter workweek," he said.
☆ Senator Warren urges U.S. patent office to scrutinize Merck's Keytruda
  + stars: | 2023-02-23 | by ( Michael Erman | ) www.reuters.com   time to read: +2 min
Senator Bernie Sanders, as well as Representatives Katie Porter and Pramila Jayapal also signed the letter. They expressed particular concern over Merck's efforts to patent a subcutaneous version of the currently infused drug, which Reuters reported on late last year. They wrote that Merck’s use of dozens of patents to fend off Keytruda competitors "appear(s) to be an example of the anti-competitive business practices ... that we have long beenconcerned about." Merck, which reported $20.9 billion in 2022 sales of Keytruda, has relied on the immunotherapy to fuel its growth. They urged Vidal to "give close scrutiny to any of Merck’s requests for new patents for Keytruda, and reject those that do not clearly meet the agency’s standards."
☆ Starbuck's interim CEO Howard Schultz said he doesn't believe unions have a place at the coffee giant as unionization efforts spread
  + stars: | 2023-02-22 | by ( Sawdah Bhaimiya | ) www.businessinsider.com   time to read: +4 min
Starbucks' interim CEO Howard Schultz said unions have no place at the company in a CNN interview. He said that unionization efforts reflect a "much bigger problem" beyond individual companies. Schultz, who stepped in as interim CEO of Starbucks in April 2022, told Harlow: "I don't think a union has a place in Starbucks." Schultz argued that Starbucks worker unionization efforts in America are reflective of a much bigger macro problem beyond the company itself. Unionization efforts from Starbucks workers began in Buffalo, New York in 2021 as workers grew tired of stores being consistently understaffed, poor working conditions during the pandemic, as well a demand for higher wages.
☆ Howard Schultz: Unions ‘a manifestation of a much bigger problem’
  + stars: | 2023-02-21 | by ( Danielle Wiener-Bronner | ) edition.cnn.com   time to read: +10 min
New York CNN —Fifteen years ago, Howard Schultz reprised his role as Starbucks CEO, returning to the helm to help put the struggling company back on course. Even before he officially rejoined the company, Schultz was already alarmed by the union push. In the months since returning as CEO, Schultz has doubled down on his opposition to the union. “The fact that Starbucks workers are continuing to organize and win shows just how much workers need and desire a union,” Starbucks Workers United said in a statement to CNN. As a CEO, Schultz has been responding “very typically,” Givan said, in how strongly he’s opposed the union.
☆ Bernie Sanders says he agrees with Bill Gates that the government should 'tax the robots' replacing workers
  + stars: | 2023-02-21 | by ( Nicole Gaudiano | ) www.businessinsider.com   time to read: +2 min
Bernie Sanders says government should "tax the robots" that replace workers. In his new book, Sanders references Microsoft's Bill Gates' ideas on this issue. "We're going to need to adapt tax and regulatory policies" to address robots, Sanders write. He also wants to tax robots. His book references policy ideas from other proponents, including Microsoft's Bill Gates, a billionaire who Sanders notes is "not someone I regularly agree with."
☆ Bernie Sanders says it's time for a four-day work week
  + stars: | 2023-02-21 | by ( Juliana Kaplan | Ayelet Sheffey | ) www.businessinsider.com   time to read: +4 min
Sen. Bernie Sanders said on Twitter that it's time for a four-day work week. Sanders referenced new findings from a UK-based four-day work week pilot program. The progressive from Vermont chimed in on the four-day work week debate on Twitter, writing: "With exploding technology and increased worker productivity, it's time to move toward a four-day work week with no loss of pay. Sanders was referencing the latest findings out of the UK on the four-day work week. "So a four-day work week is something that connects a lot of Americans."
☆ Bernie Sanders jabs Joe Biden for not replying when asked to fulfill his promise to halt federal contracts for anti-union employers
  + stars: | 2023-02-21 | by ( Nicole Gaudiano | ) www.businessinsider.com   time to read: +2 min
Sanders liked Biden's campaign promise to halt federal contracts for anti-union employers. Sanders criticizes Biden for not responding to his request that he follow through on the promise. He reminded Biden of his campaign promise to "institute a multi-year federal debarment" for employers illegally opposing unions and ensuring federal contracts only go to employers who agree to not run anti-union campaigns. "That campaign promise was exactly right. He called Amazon the "poster child as to why this anti-union busting Executive Order is needed now more than ever."
☆ Bernie Sanders says Elizabeth Warren could have helped him win the 2020 primary but 'chose not to' by withholding her endorsement
  + stars: | 2023-02-21 | by ( Nicole Gaudiano | ) www.businessinsider.com   time to read: +2 min
Sen. Bernie Sanders says Sen. Elizabeth Warren's nod could have helped him win in 2020. Her endorsement ahead of Super Tuesday "could have been significant," he wrote in his new book. Those contests in March 2020 followed a major feud that erupted months earlier between Sanders and Warren. "Despite poor showings in Iowa, New Hampshire, Nevada and South Carolina, Warren chose to stay in the race," Sanders wrote in "It's OK To Be Angry About Capitalism," to be released on February 21. "Our campaign, which days earlier had been expected to win the most delegates on Super Tuesday, was suddenly trailing," he wrote.
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