Lyft and Uber shares down after court says California gig worker push is unconstitutional

34
3
Favorite

Lyft and Uber shares down after court says California gig worker push is unconstitutional

CNBC2021-08-23

KEY POINTS Shares of Uber and Lyft traded lower in the premarket Monday after a California court ruled that Prop 22, a ballot measure that exempted gig workers from state labor law, was ...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Report

Comment（3）

JieYee
·2021-08-23
hi
Reply
Like
Report
AminB
·2021-08-23
Goo
Reply
1
Report
PanaCota
·2021-08-23
Hi
Reply
6
Report
Fold Replies
- AaronNg:
  Hi
  2021-08-23
  Reply
  Report

Most Discussed

7x24

All

Terms and Conditions·Privacy Policy

Company: TTMF Limited. Tech supported by Xiangshang Yixin.

Email：uservice@ttm.financial

{"i18n":{"language":"en_US"},"data":{"share":"https://ttm.financial/m/news/1123162430?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2021-08-23 21:27","share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","id":"1123162430","market":"us","top_or_hot":-1,"title":"Lyft and Uber shares down after court says California gig worker push is unconstitutional","media":"CNBC","content":"<div>\n<p>KEY POINTS\n\nShares of Uber and Lyft traded lower in the premarket Monday after a California court ruled that Prop 22, a ballot measure that exempted gig workers from state labor law, was ...</p>\n\n<a href=\"https://www.cnbc.com/2021/08/23/lyft-uber-stocks-fall-after-court-says-gig-worker-push-unconstitutional.html\">Source Link</a>\n\n</div>\n","source":"cnbc_highlight","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Lyft and Uber shares down after court says California gig worker push is unconstitutional</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nLyft and Uber shares down after court says California gig worker push is unconstitutional\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-23 21:27 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.cnbc.com/2021/08/23/lyft-uber-stocks-fall-after-court-says-gig-worker-push-unconstitutional.html><strong>CNBC</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>KEY POINTS\n\nShares of Uber and Lyft traded lower in the premarket Monday after a California court ruled that Prop 22, a ballot measure that exempted gig workers from state labor law, was ...</p>\n\n<a href=\"https://www.cnbc.com/2021/08/23/lyft-uber-stocks-fall-after-court-says-gig-worker-push-unconstitutional.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"UBER","symbol_name":"优步","start_time":0,"source_url":"https://www.cnbc.com/2021/08/23/lyft-uber-stocks-fall-after-court-says-gig-worker-push-unconstitutional.html","article_id":"1123162430","we_media_id":null,"thumbnails":[],"rights":{"source":"cnbc_highlight","url":"https://www.cnbc.com/2021/08/23/lyft-uber-stocks-fall-after-court-says-gig-worker-push-unconstitutional.html","rn_cache_url":null,"customStyle":"body{padding-top:10px;}.ArticleHeader-headline{#titleStyle#}a{#lv2TextColor#}.ArticleHeader-time, .Author-authorNameAndSocial a{#sourceStyle#;}","selectors":".PageBuilder-pageWrapper","filters":".ArticleHeader-eyebrow, .RelatedTags-relatedTags","directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=1123162430","pubTimestamp":1629725272,"sourceInfo":{"source_id":"cnbc_highlight","name":"CNBC"},"weMediaInfo":null,"summary":"KEY POINTS\n\nShares of Uber and Lyft traded lower in the premarket Monday after a California court ru","collect":0,"end_time":0,"defaultTopTitle":"cnbc.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"UBER":"优步","LYFT":"Lyft, Inc."},"translate_title":"法院称加州零工推违宪后，Lyft和优步股价下跌","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"LYFT":0.9,"UBER":0.9},"content_text":"KEY POINTS\n\nShares of Uber and Lyft traded lower in the premarket Monday after a California court ruled that Prop 22, a ballot measure that exempted gig workers from state labor law, was unconstitutional.\nAlameda County Superior Court Judge Frank Roesch wrote in a ruling late Friday that Proposition 22 is unconstitutional as “it limits the power of a future Legislature to define app-based drivers as workers subject to workers’ compensation law.”\nThe move is a hard hit to gig economy companies that have lobbied for these measures to pass in order for their business models to keep operating as normal.\n\nShares of Uber and Lyft, Inc. traded lower in the premarket Monday after a California court ruled that Prop 22, a ballot measure that exempted gig workers from state labor law, was unconstitutional.\nUber was down more than 3.2% in premarket trading, while Lyft dipped nearly 3.4%.\nAlameda County Superior Court Judge Frank Roesch wrote in a ruling late Friday that Proposition 22 is unconstitutional as “it limits the power of a future Legislature to define app-based drivers as workers subject to workers’ compensation law.” That makes the entire ballot measure “unenforceable.”\nCalifornia voters approved Proposition 22 by a majority vote in November. The ballot measure effectively exempted several gig economy companies from the state’s recently enacted law, Assembly Bill 5, which had aimed to make their workers into full-time employees.\nProp 22 proposed workers for app-based food delivery and ridesharing companies should remain contractors, and be entitled to certain benefits and protections, like minimum earnings.\nThe move is a blow to gig economy companies, including Lyft, Uber, Instacart and DoorDash, which spent more than $200 million to support the ballot in an effort to maintain their current business models. Classifying drivers as contractors allows the companies to avoid the costly benefits associated with employment, such as unemployment insurance.\nA coalition representing the companies said it plans to appeal. The firms have started to fund a measure to put a similar ballot before Massachusetts voters next year.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":835528530,"gmtCreate":1629727920620,"gmtModify":1676530113980,"author":{"id":"3585337577037707","authorId":"3585337577037707","name":"JieYee","avatar":"https://static.tigerbbs.com/3e4b8be34071a883cb274790cad527e5","vip":1,"crmLevel":1,"crmLevelSwitch":0,"authorIdStr":"3585337577037707","idStr":"3585337577037707"},"htmlText":"hi","listText":"hi","text":"hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/835528530","repostId":1123162430,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":835536712,"gmtCreate":1629726453836,"gmtModify":1676530112657,"author":{"id":"3578345709902616","authorId":"3578345709902616","name":"AminB","avatar":"https://static.tigerbbs.com/95ef96141c0cae96be8b275bbce44d19","vip":1,"crmLevel":2,"crmLevelSwitch":0,"authorIdStr":"3578345709902616","idStr":"3578345709902616"},"htmlText":"Goo","listText":"Goo","text":"Goo","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/835536712","repostId":1123162430,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":835503622,"gmtCreate":1629725586466,"gmtModify":1676530112128,"author":{"id":"3581588474178431","authorId":"3581588474178431","name":"PanaCota","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0,"authorIdStr":"3581588474178431","idStr":"3581588474178431"},"htmlText":"Hi","listText":"Hi","text":"Hi","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/835503622","repostId":1123162430,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5622533,"gmtCreate":1629726294089,"gmtModify":1663232798438,"authorId":3559167756156665,"author":{"id":3559167756156665,"idStr":"3559167756156665","authorId":3559167756156665,"name":"AaronNg","avatar":"https://static.tigerbbs.com/0fbfb121556dc390305847fad3f4ced2","vip":1,"crmLevel":4,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":835503622,"type":1,"supId":0,"prevId":0,"content":"Hi","text":"Hi","html":"Hi"}],"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":34,"commentSize":3,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}