A New York judge ruled against Uber, DoorDash and Grubhub on Thursday after the food delivery companies tried to block New York City's new minimum pay law for app-based delivery workers.
Driving the news: In July, the three companies, along with the smaller delivery company, Relay, sued the city over the new pay standard of almost $18 an hour that was meant to go into effect that month.
The new Peloton-Lululemon partnership is a classic "help me help you" deal, as each company needed what the other could offer.
Why it matters: Peloton needed more paying subscribers, while its apparel ambitions needed refinement. On the other side, Lululemon's prior bet to crack the exercise market was still dragging on its bottom line.
The U.S. Equal Employment Opportunity Commission on Thursday sued Tesla, accusing Elon Musk's electric vehicle company of tolerating racism against Black employees and retaliating against workers who spoke up.
Why it matters: The suit is the latest in a series of accusations alleging racism and discrimination at Tesla, including a lawsuit earlier this year filed by hundreds of Black factory workers seeking class-action status.
Valkyrie's bitcoin futures ETF is adding ether, and crypto markets are clearly enthusiastic.
Why it matters: Bitcoin (BTC) and ether (ETH) prices are up nearly 4% over the last 24 hours on the news, as the exchange traded fund will soon offer a 50/50 exposure to derivatives of the two largest digital assets.
California governor Gavin Newsom signed a law on Thursday that will raise fast food workers' pay in the state to $20 an hour starting in April 2024.
Why it matters: The law's passage is a huge win for labor — the campaign around this law was led by the Service Employees International Union (SEIU) — and signals unions' growing power in the U.S.
The bond market'sremarkable moves this month imply a stronger economic growth path in the years ahead — but they happened without much evidence of changing fundamentals.
The big picture: Bond prices have abruptly moved to levels that imply the high-pressure economy of the last couple of years will persist.
The percentage of U.S. Latinos living in poverty has dropped significantly in the last decade but is well above the national average.
Why it matters: Latinos make up 19% of the population and are set to be a plurality of the country's population by midcentury. Failure to address systemic economic inequalities may act as a drag on the nation's future prosperity, some experts say.
There are important communication lessons coming out of the very messy, very public divorce between boy bander Joe Jonas and actress Sophie Turner.
Why it matters: Audiences are becoming savvier and more attuned to sniffing out public relations spin, staged paparazzi photos and inflated stories attributed to anonymous sources.
As global head of communications for Notion, Becky Sosnov is tasked with helping the next generation of workers get organized by sharing everything the project management platform has to offer.
Why it matters: Sosnov has a track record of supporting founder-led companies and helping them shape their story from idea to IPO.
Sam Bankman-Fried will not be released while his trial takes place, Judge Lewis Kaplan ruled this morning at the U.S. Southern District Court in Manhattan.
Driving the news: SBF's attorneys made one last push to get their client released so that they would have real-time access to him over the course of the trial, which is expected to run until just before Thanksgiving.
League One Volleyball, a U.S. youth volleyball group that will launch a women's pro league next year, raised $35 million in Series B funding led by Left Lane Capital.
Why it matters: Women's volleyball is having a moment, as evidenced by the 92,000 fans who showed up last month to watch Nebraska take on Omaha.
The Powerball jackpot grew from $850 million to $925 million after no one matched all six numbers in Wednesday's drawing.
The big picture: It's the ninth-largest U.S. lottery prize ever and fourth jackpot of 2023 to crack the top 10 list of biggest Powerball and Mega Millions prizes.
A landmark federal bill that would protect banks that work with cannabis companies appears headed to the Senate floor after passing out of committee on Wednesday.
Why it matters: Since marijuana is legal in some states, but illegal at the federal level, the industry has long struggled to gain access to financial services — instead many business owners are forced to deal with the inconveniences and dangers of transacting in all-cash.
JPMorgan Chase's $200 million investment in Detroit "could show other cities how to bounce back," Fortune says in an article in conjunction with the magazine's annual "Change the World" list of innovative companies.
Why it matters: The bank, on the list for the fourth time, was recognized for its role in Detroit's comeback, after the city entered the largest municipal bankruptcy in U.S. history 10 years ago.
ABC is counting on a 72-year-old grandfather from Indiana to revive its tired "Bachelor" franchise — and everyone from "granfluencers" to cosmetic surgeons is pinning their hopes on his ability to combat ageist stereotypes (and spur Botox sales).
Why it matters: The "Golden Bachelor," debuting Thursday, could spark a national conversation on the vitality of boomers, as seen through the lens of bachelor Gerry Turner and the 60- and 70-something women he's courting.
Former Twitter trust and safety head Yoel Roth accused Elon Musk at a conference Wednesday of ruling by dictate, rather than policy, and decimating the reputation of the platform known as X.
Driving the news: Roth made the comments at the Code Conference in Laguna Niguel, Calif., where X CEO Linda Yaccarino described an ambitious, growing company that will be profitable by next year.
