- Business Insider
Seattle gave low-income residents $500 monthly payments with no strings attached. Some got new housing and employment rates nearly doubled.
A guaranteed basic income program pilot in Seattle gave 102 low-income residents $500 monthly. Employment among the participants nearly doubled.
- Reuters
US regulators mulling bid to limit bonuses for Wall Street execs, WSJ reports
U.S. banking regulators are planning to revive a proposal that would require big banks to defer executive compensation and claw back more of their bonuses if losses pile up, the Wall Street Journal reported on Friday. Six agencies, including the Federal Deposit Insurance Corp (FDIC) and the Office of the Comptroller of the Currency (OCC), are involved in developing the plan, the report said, adding that the measure could be proposed in the coming days. The Federal Reserve is not involved in drafting the proposal, the report said.
- Reuters
Google scraps minimum wage, benefits rules for suppliers and staffing firms
Alphabet Inc's Google on Friday said it will roll back requirements that U.S. suppliers and staffing firms pay their employees at least $15 an hour and provide health insurance and other benefits, a move that could allow the tech giant to avoid bargaining with unions. The elimination of the 2019 policy, along with other steps such as limiting access by temporary workers and vendors to internal systems, are designed to comply with shifting U.S. and global labor regulations related to contingent workers, a spokesperson for Mountain View, California-based Google told Reuters. "These updates bring us in line with other large companies and simply clarify that Google is not, and has never been, the employer of our suppliers’ employees," the spokesperson said.
