Reynolds Holding is a Breakingviews editor who also writes from New York about the law. Before joining Breakingviews, he was a national editorial producer for the Law & Justice Unit at ABC News, a senior writer for Time magazine and the executive editor of Legal Affairs, the first general interest magazine about the law. He spent more than a decade as an investigative reporter and columnist for The San Francisco Chronicle, where he was named a Pulitzer Prize finalist for explanatory writing. Before becoming a journalist, he practiced corporate law at the New York firm of Debevoise & Plimpton. He graduated from Harvard College and Duke University School of Law.
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A proposal simply to study a split of the mega-bank led by Mike Corbat won just 3.5 pct support. That’s a broad rejection of rhetoric from the U.S. presidential race and elsewhere. Bigger is better probably will prevail until Wall Street and Main Street can agree otherwise.
The ride-hailing service settled two cases for $100 mln, calling drivers contractors but making them look even more like employees. A court bounced a similar pact with Lyft, and it’s a hot-button distinction in U.S. labor law. The Uber judge may want the issue settled at trial.
A $100 mln settlement resolves claims in two U.S. states that the $60 bln ride-hailing service should treat workers as employees, not cheaper contractors. Like paying driver fines for illegal pickups, though, the pact only buys time for Uber. Eventually, there’ll be a collision.
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