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FTC to Decide Whether Noncompete Agreements Should Be Banned

Video Credit: Wibbitz Top Stories - Duration: 01:31s - Published
FTC to Decide Whether Noncompete Agreements Should Be Banned

FTC to Decide Whether Noncompete Agreements Should Be Banned

FTC to Decide , Whether Noncompete Agreements , Should Be Banned.

After receiving over 26,000 public comments about the issue, the Federal Trade Commission is set to deliver its verdict on April 30, NPR reports.

.

The commission said that if approved, the final rule "would generally prevent most employers from using noncompete clauses.".

The commission said that if approved, the final rule "would generally prevent most employers from using noncompete clauses.".

Approximately one in five Americans, spanning minimum wage workers to CEOs, are subject to noncompete agreements, the FTC estimates.

.

The Biden administration says that these types of agreements hurt workers by decreasing wages.

The White House also argues that these agreements harm the U.S. economy because entrepreneurship isn't allowed to freely flourish.

.

FTC Chair Lina M.

Khan issued a statement when the proposed ban was initially introduced.

The freedom to change jobs is core to economic liberty and to a competitive, thriving economy, FTC Chair Lina M.

Khan, via statement.

Noncompetes block workers from freely switching jobs, depriving them of higher wages and better working conditions, and depriving businesses of a talent pool that they need to build and expand, FTC Chair Lina M.

Khan, via statement.

Businesses argue that noncompete agreements are essential for safeguarding investments and proprietary information.

Those businesses also question whether the agency has the power "to regulate such agreements," NPR reports.

.

If the FTC votes to issue a final rule, enforcement wouldn't occur for 180 days, and legal challenges would likely ensue.


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Federal Trade Commission Federal Trade Commission United States government agency

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ConocoPhillips to Buy Marathon Oil

ConocoPhillips , to Buy Marathon Oil. ConocoPhillips , to Buy Marathon Oil. On May 29, ConocoPhillips agreed to acquire Marathon Oil in an all-stock deal valued at $17 billion, CNBC reports. The agreement will provide ConocoPhillips with an additional 2 billion barrels of U.S. inventory. This acquisition of Marathon Oil further deepens our portfolio and fits within our financial framework, adding high-quality, low cost of supply inventory adjacent to our leading U.S. unconventional position. , ConocoPhillips CEO Ryan Lance, via statement. ConocoPhillips' market cap will exceed $150 billion due to the deal. As an independent producer, ConocoPhillips will now be on the same scale as some big-time players, CNBC reports. For example, the company will become larger than BP but still be smaller than Shell, according to Andrew Dittmar, M&A analyst at Enverus. For example, the company will become larger than BP but still be smaller than Shell, according to Andrew Dittmar, M&A analyst at Enverus. While the deal is likely to face FTC scrutiny, the fact that Marathon's assets encompass multiple basins supports regulatory approval, Dittmar said. . Once the deal is complete, ConocoPhillips anticipates share buybacks worth $7 billion within the first year. After three years, that number is expected to grow to $20 billion. ConocoPhillips' larger rivals, Exxon Mobil and Chevron, announced blockbuster deals as well last year. ConocoPhillips' larger rivals, Exxon Mobil and Chevron, announced blockbuster deals as well last year

Credit: Wibbitz Top Stories    Duration: 01:31Published

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Apple Announces Partnership With OpenAI

Apple Announces Partnership , With OpenAI. Apple Announces Partnership , With OpenAI. Apple made a lot of announcements at its Worldwide Developers Conference this year. Apple made a lot of announcements at its Worldwide Developers Conference this year. but one of the company's most-anticipated reveals was that it's teaming up with ChatGPT-maker OpenAI, NPR reports. . The deal is the first of its kind for the tech giant, which has been slower than its competitors to adopt AI. . Apple software chief Craig Federighi said that Siri will become integrated with OpenAI. The feature will allow Apple users to ask for assistance with things such as recipes, decorating tips or even writing a story. Suppose you want to create a custom bedtime story for your six-year-old who loves butterflies and solving riddles, Craig Federighi, Apple software chief, via statement. Put in your initial idea, and send to ChatGPT, Craig Federighi, Apple software chief, via statement. OpenAI CEO Sam Altman took to X to celebrate the announcement. Very happy to be partnering with Apple to integrate ChatGPT into their devices later this year! Think you will really like it, Sam Altman, OpenAI CEO, via X. Apple will also roll out its own generative AI software, Apple Intelligence. The new features are set to be released later this year

Credit: Wibbitz Top Stories    Duration: 01:31Published
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Some Early Tesla Bulls Are Ditching the Stock

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Claudia Sheinbaum Is Elected As Mexico鈥檚 First Female President [Video]

Claudia Sheinbaum Is Elected As Mexico鈥檚 First Female President

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Credit: Wibbitz Top Stories    Duration: 01:31Published
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Credit: Wibbitz Top Stories    Duration: 01:31Published

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Credit: Oneindia    Duration: 03:47Published
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Credit: Wibbitz Top Stories    Duration: 01:30Published

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