Money
U.S. Justice Dept sues Uber for overcharging disabled people
The U.S. Justice Department is taking ride-hailing app Uber to court, suing them over claims it has been overcharging disabled people
The Department claims Uber’s “wait time” fees are discriminating against disabled passengers who need more than two minutes to get into a car.
The DoJ says the ride service needs to comply with the Americans with Disabilities Act known as ADA.
Uber has however responded, stating that wait time fees were not intended to apply to disabled riders and that it had been refunding the fees to those charged.
Kristen Clarke, assistance attorney general for the DoJ’s civil rights division said the lawsuit aimed to send a “powerful message that Uber cannot penalise passengers with disabilities simply because they need more time to get into a car”.
Clarke added that Uber and other ride hailing companies such as Lyft and Taxi services “must ensure equal access for all people, including those with disabilities,”
Uber disagrees that it violated the ADA
An Uber spokesperson stated that the company had been in talks with the Department fo Justice prior to the “surprising and disappointing” lawsuit.
The spokesperson stated that fees were “never intended for riders who are ready at their designated pickup location but need more time to get into the car”,
In the statement, Uber revealed it does have a policy of refunding wait time fees for disabled riders whenever they alerted the firm that they had been charged.
“After a recent change last week, now any rider who certifies they are disabled will have fees automatically waived,”
The spokesperson confirmed.
Uber began charging passengers for driver waiting times back in 2016.
Money
Stocks tumble amid AI concerns and Trump tariff update
Dow drops 800+ points as AI and trade worries hit tech and retail stocks; bonds rise amid market volatility.
Dow drops 800+ points as AI and trade worries hit tech and retail stocks; bonds rise amid market volatility.
Stocks plunged sharply as concerns over artificial intelligence and trade tensions rattled investors, sending the Dow down more than 800 points. Heavyweights like American Express, Goldman Sachs, and JPMorgan were key contributors to the drop.
Software companies were hit particularly hard after a report suggested AI could impact economic growth, triggering further losses across tech shares.
Trade-sensitive retailers including American Eagle Outfitters, Ralph Lauren, and Yeti Holdings also faced setbacks as market uncertainty spiked. Bonds, meanwhile, rallied as investors sought safety in a volatile market.
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Money
U.S. investors flee stock market for global opportunities
U.S. investors withdrew $75 billion from stocks in six months, fastest in 16 years, with $52 billion in 2026 alone.
U.S. investors withdrew $75 billion from stocks in six months, fastest in 16 years, with $52 billion in 2026 alone.
U.S. investors are withdrawing money from domestic stocks at the fastest rate in 16 years, with $75 billion leaving equity products over the past six months. The trend accelerated in 2026, with $52 billion pulled from Wall Street so far.
Concerns over AI risks and weaker performance at home are prompting investors to look abroad, even though a softer dollar makes foreign investments more expensive. Emerging markets are seeing inflows at the fastest pace in five years, according to Bank of America.
As global opportunities become more attractive, many U.S. investors are now evaluating overseas markets for growth potential.
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Money
US dollar strength hits NZ dollar amid FX market shifts
US dollar rises amid strong US growth; New Zealand faces pressure as traders navigate volatile FX and geopolitical impacts.
US dollar rises amid strong US growth; New Zealand faces pressure as traders navigate volatile FX and geopolitical impacts.
The US dollar is surging as strong economic growth in the United States contrasts with softer conditions in New Zealand. Policy divergence and complex global FX factors are putting pressure on the New Zealand dollar, leaving traders navigating choppy waters.
Steve Gopalan from SkandaFX breaks down how US interest rates are influencing key currency pairs like USD/JPY, and explains why hedging flows are crucial in today’s volatile environment.
We also explore the ripple effects of geopolitical tensions on oil and broader markets, while examining the Australian labour market’s role in shaping the Reserve Bank of Australia’s monetary policy.
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