Money
Lyft, Uber in the driver’s seat in fight against Texas anti-abortion laws
Those working for rideshare companies across Texas and surrounds are now protected under new driver defense fund.
Rideshare companies are set to cover legal costs for drivers who are sued under a controversial Texas anti-abortion law.
Lyft and Uber announced they’ll take responsibility for any form of punishment drivers encounter under a new rule which threatens drivers for taking passengers where they need to go.
The rule specifically focuses on those driving female passengers to medical clinics for pregnancy-termination purposes.
Both transportation services believe passengers are entitled to not disclosing their reasons for travel, especially those exercising their right to choose and access the healthcare they need.
A passenger’s destination is not a driver’s responsibility
Lyft also says a passenger’s reason for travel is not a driver’s responsibility.
“Imagine being a driver and not knowing if you are breaking the law by giving someone a ride,” Lyft co-founders Logan and John say.
“[Also] imagine being a pregnant woman trying to get to a healthcare appointment and not knowing if your driver will cancel on you for fear of breaking the law.”
In response to the mandate, Lyft has created a Driver Legal Defense Fund to cover 100 percent of legal fees sued under the SB8 rule.
Additionally, Lyft is donating $1 million to Planned Parenthood to help ensure that transportation is never a barrier to healthcare access.
Butting heads with Texas
Texas’ new law, signed this week, prohibits abortions after six weeks of pregnancy
The law also empowers private citizens across the country to sue anyone for aiding abortions past that six-week mark, that includes medical clinics and those who drive women to them.
The announcements from Uber and Lyft come after Bumble and Tinder announced the creation of a relief fund for women seeking abortions.
Written by Rebecca Borg
Money
Stocks rally ahead of Thanksgiving as markets log four days of gains
Markets gain momentum ahead of Thanksgiving, with the Dow up 388 points and Oracle rising 4% amid investor optimism.
Markets gain momentum ahead of Thanksgiving, with the Dow up 388 points and Oracle rising 4% amid investor optimism.
Markets are moving into the Thanksgiving break with strong momentum, as stocks notch four straight days of gains. The Dow Jones Industrial Average jumped 388 points, while the S&P 500 added 0.9%, pushing both indexes toward their best week since June.
Oracle led major movers, rising more than 4% after Deutsche Bank reaffirmed its bullish outlook on the tech giant. Broad investor optimism continues building across sectors as economic data softens and earnings remain resilient.
All eyes are now on the Federal Reserve and what potential shifts in interest-rate policy may mean for the markets. U.S. markets will close Thursday for the Thanksgiving holiday and reopen Friday for a shortened trading session.
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Money
Dow surges 500 points amid rate cut optimism
Dow jumps 569 points on fresh hopes for December rate cut and AI market optimism
Dow jumps 569 points on fresh hopes for December rate cut and AI market optimism
– Dow Jones rose 569 points, reflecting optimism for a Federal Reserve interest rate cut.
– Alphabet’s stock increased as Meta may invest in AI chips, but Nvidia’s declined amid market concerns.
Markets anticipate an 85% chance of a quarter-point rate cut in December, driven by comments from New York Fed President John Williams, who indicated the possibility of lower rates soon. Investor sentiment strengthened following reports that Kevin Hassett may be appointed as the next Fed chair, potentially resulting in a more lenient monetary policy.
Tech Sector
Alphabet saw its stock rise by over 1% after reports indicated that Meta Platforms might invest in its AI chips. This could signal increased demand for AI technology, benefiting the sector overall. However, Nvidia’s stock fell more than 3%, suggesting concerns about its dominance in the AI chip market.
Investors are also wary of the valuation of tech stocks. Despite recent gains, the S&P 500 and Nasdaq remain down over 1% and 3%, respectively, for November, while the Dow has lost more than 1% this month. The broader market’s performance indicates ongoing scrutiny regarding tech valuations amid changing economic expectations.
Money
Gold prices surge as Central Banks buy big, but risks grow ahead
Gold prices surge as central banks increase demand; risks include a stronger dollar and rising interest rates.
Gold prices surge as central banks increase demand; risks include a stronger dollar and rising interest rates.
Gold prices are climbing fast as central banks ramp up buying, pushing demand to its highest levels in years. The metal’s reputation as a safe haven is strengthening, especially amid rising geopolitical tensions and global financial uncertainty.
But experts warn the shine could fade. A stronger US dollar and the possibility of rising interest rates may weigh on momentum, making investors question how long the rally can last.
Dr Steven Enticott from CIA Tax breaks down the drivers behind gold’s surge—from ETF inflows to physical bar demand—and what could send the price sharply higher… or lower.
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