Feb 20, 2017

Hot in Silicon Valley: Postmates backs off mandatory arbitration

Candice Choi / AP

Postmates finally lets drivers opt out of arbitration: The delivery company has updated its driver agreement to allow contractors to opt out of the previously mandatory arbitration, as TechCrunch reported. While the company denies the connection, it's currently still battling a case against the National Labor Relations Board over its classification of drivers as contractors instead employees and its arbitration mandate.

Why it matters: Postmates and other so-called "on-demand" companies have been under fire for their employment practices, namely forcing contractors to go through arbitration, which many argue is illegal.

'Silicon Valley' is back for a fourth season: HBO has released the teaser trailer for its hit show about a startup in the heart of Silicon Valley will soon be back for a new season. What we know so far: Pied Piper CEO Richard Hendricks wants to strike out on his own and build "a new Internet." Never short of real-world references, the show's next season is sure to continue exploring common Silicon Valley experiences.

Go deeper

Bob Iger to step down as CEO of Disney

Photo: Jeff Kravitz/FilmMagic

The Walt Disney Company said Tuesday that it had named longtime Disney executive Bob Chapek as CEO Bob Iger's successor, effectively immediately. Iger will remain executive chairman of the company through 2021.

Why it matters: Iger is credited with having successfully turned around Disney’s animation and studio businesses and with the strategic acquisition of Marvel, Pixar, Lucasfilm and 21st Century Fox. Most recently, he was the person behind Disney's successful launch of its Netflix rival Disney+.

India gives Trump warm welcome as brutal protests rip New Delhi apart

People supporting India's new citizenship law beat a Muslim man in New Delhi, India. Photo: Danish Siddiqui/TPX/Reuters

While President Trump enjoys a hero's welcome in India, that nation's capital is being torn apart by violent protests between Hindus and Muslims.

The state of play: At least 186 people — 56 police officers and 130 protesters — have been injured and 10 killed in recent clashes, a New Delhi police spokesperson told the AP.

Go deeperArrow43 mins ago - World

Wall Street sees 2nd day of brutal sell-off

Photo: Johannes Eisele/AF via Getty Images

The stock market fell another 3% on Tuesday, following Monday’s sell-off. Bond yields touched record lows.

The big picture: Stocks continued to fall as the CDC said it expects the coronavirus to spread in the U.S. The Dow and S&P are more than 7% below the record highs seen earlier this month.

Go deeperArrowUpdated 57 mins ago - Economy & Business