Tag: small business magazines australia

California court rules for Uber, Lyft in ride-hailing case – Business News

App-based ride hailing and delivery companies like Uber and Lyft can continue to treat their California drivers as independent contractors, a state appeals court ruled Monday, allowing the tech giants to bypass other state laws requiring worker protections and benefits.

The ruling mostly upholds a voter-approved law, called Proposition 22, that said drivers for companies like Uber and Lyft are independent contractors and are not entitled to benefits like paid sick leave and unemployment insurance. A lower court ruling in 2021 had said Proposition 22 was illegal, but Monday’s ruling reversed that decision.

“Today’s ruling is

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What is a Power of Attorney?

Many of our clients have heard of the powers of attorney, but do not know what they actually entail.

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It is important to know that there are different types of powers of attorney, however, they are all legal documents that allow you to pick an agent or attorney-in-fact on your behalf.

Powers of attorney allow another person to make financial, legal, and medical decisions for you, depending on the type.

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The world struggles to predict financial fallout from California bank collapse

As the millionaire depositors in Silicon Valley Bank got all their money back courtesy of a US government agency, there were no doubt sighs of relief among those bank customers who would otherwise have been taken a severe financial beating.

Until the US government swoops in Monday, that included the vast majority of deposits at SVB, which catered to Silicon Valley startups and venture capital firms. Deposits over $250,000 US are uninsured by the Federal Deposit Insurance Corporation or FDIC.

Even the conservative-leaning Wall Street Journal, harking back to the hundreds of billions of dollars handed out following the 2008

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Nordstrom closed all of its Canadian stores, cutting 2,500 jobs

“We do not see a realistic path to profitability for the Canadian business,” said the CEO

The Canadian Press

Tara Deschamps

Published March 02, 2023 • Last updated 1 week ago • 2 minute read

10 Comments

Shoppers take the escalators at a Nordstrom store in downtown Toronto. Nordstrom Inc. says it is winding down its Canadian operations and closing all of its stores in Canada.
Shoppers take the escalators at a Nordstrom store in downtown Toronto. Nordstrom Inc. says it is winding down its Canadian operations and closing all of its stores in Canada. Photo by Christopher Katsarov /THE CANADIAN PRESS

TORONTO — Nordstrom Inc. is closing all of its Canadian stores and cutting

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Stocks rally as Salesforce’s 11% gain lifts Dow while S&P, Nasdaq reverse early losses

Stocks rallied on Thursday with the Dow leading markets higher as a result from Salesforce (CRM) lifted the index, and the S&P 500 and Nasdaq shook off early losses to finish on the green.

At the close on Thursday, the S&P 500 was up 0.76%, the Nasdaq higher by 0.73%, and the blue chip Dow up 1.05%.

Rates remained a key focus for investors, with the yield on the 10-year Treasury note settling north of 4%, its highest level since November.

The rise in yields has come as investors brace for more aggressive action from the Federal Reserve in the

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What Russia’s economic resilience means for the war in Ukraine

Since the Russian invasion of Ukraine nearly a year ago, attempts have been made to clobber its economy.

Russian businesses have been cut off from the vast tracts of the Western world. Its oligarchs have been sanctioned and had their yachts seized. And yet, by almost every measure, the Russian economy has weathered the last year much better than almost anyone expected.

“There are clear signs of a slowdown in the Russian economy,” said Desjardins principal economist Marc Desormeaux. “But things are not quite as bad as feared when this conflict erupted.”

Beyond the staggering human costs of the war,

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Asian Shares Advance As Investors Await US Inflation Data

Asian stocks rose on Tuesday, the dollar slipped, and Treasury bond yields remained pressured as investors remained convinced that key US inflation data due later in the day would show an easing in price pressures on an annual basis.

Gold edged higher in Asian trading on dollar weakness while oil prices dropped around 1 percent after the US government announced it would release more crude from its Strategic Petroleum Reserve (SPR) at a time when US crude markets are flush with supply.

Chinese shares eked out modest gains after reports that US Secretary of State Antony Blinken is considering meeting

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Toronto home sales forecast to fall to levels not seen in two decades

TREB also predicts prices will rise this year, but will still be lower than in 2022

A real estate sign outside a home in Toronto.
A real estate sign outside a home in Toronto. Photo by Peter J. Thompson/National Post

Home sales in the Greater Toronto Area (GTA) will decline to their lowest level since 2001 this year despite a rebound in the second half, according to annual forecast from the Toronto Regional Real Estate Board (TRREB).

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