Uber-Lyft Group Challenges Biden's Labor Pick Over Worker Rules [BNN Bloomberg (Canada)]
Lyft, Inc. - Class A (LYFT)
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Source: BNN Bloomberg
nominee to lead the Labor Department over her stance on worker-classification rules. In a letter to Biden dated Monday that was shared with Bloomberg News, the Flex Association asked that the nominee, Julie Su, explain how she would implement a proposed rule that could make it easier for workers to be considered employees rather than independent contractors “in a manner that protects independent work.” It also requested that the Labor Department “delay action” on the proposal until the Senate confirms a nominee for secretary. Gig companies such as Uber, Lyft, DoorDash Inc. and Instacart Inc. rely heavily on contractors to staff their fleets and have closely scrutinized the rule. The letter illustrates the battle lines being drawn around Su's nomination to replace Marty Walsh as labor secretary. Business groups and Republicans have criticized her support for measures affecting the gig economy, while she has earned plaudits from Democrats and labor groups for her stance on workers
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- LYFT Q1 Earnings & Revenues Beat, Gross Bookings Rise Y/Y [Yahoo! Finance]Yahoo! Finance
- Lyft, Inc. (NASDAQ: LYFT) had its price target raised by analysts at The Goldman Sachs Group, Inc. from $16.00 to $19.00. They now have a "neutral" rating on the stock.MarketBeat
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