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Photo: Pavlo Conchar/SOPA Images/LightRocket via Getty Images

Uber has agreed pay $20 million to settle a 6-year-old class-action lawsuit brought by drivers claiming they are employees of Uber, not independent contractors, and are therefore eligible for benefits and reimbursement for expenses, Reuters reports.

Between the lines: Last year, a California Supreme Court ruling made it more difficult for employers to label gig-economy workers as independent contractors. U.S. District Judge Edward Chen rejected Uber's offer in 2016 to pay the drivers a settlement of $100 million, claiming it was not sufficient. The class now includes 13,600 drivers in California and Massachusetts, significantly smaller than the original class size of 385,000.

Go deeper

Updated 8 mins ago - Politics & Policy

Biden to attempt "emergency economic relief" by executive order

President Biden. Photo: Mark Wilson/Getty Images

President Biden will continue his executive action blitz on Friday, issuing two more orders in an attempt to provide immediate relief to struggling families without waiting for Congress.

Why it matters: In his second full day in office, Biden is again resorting to executive actions as he tries to increase payments for nutritional assistance and protect workers' rights during the pandemic.

Ina Fried, author of Login
9 mins ago - Technology

What we know about the Apple car

Illustration: Eniola Odetunde/Axios

Apple's moves toward breaking into the market for self-driving cars have come in fits and starts, but it has big ambitions for the space and is moving forward both with its own efforts and with potential partnerships with automakers.

Why it matters: Apple has great businesses in phones and computers, but its long-term growth potential will depend on conquering an entirely new market. Improving health care and playing a role in autonomous vehicles appear to be its two biggest bets on that front.

Banks cash in as Wall Street blows out Main Street

Illustration: Aïda Amer/Axios

America’s big banks capped off a winning year, led by soaring Wall Street-facing business lines.

Why it matters: Banks cashed in on the white-hot IPO market, record debt issuance, and sky-high trading volume — all of which played out as economic peril softened the consumer side of their businesses.