Regulation/Government Policy – Page 3

New York Gov. Kathy Hochul Rejects Ban on Noncompete Agreements

23Dec

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World

New York Gov. Kathy Hochul Rejects Ban on Noncompete Agreements

Updated Dec. 23, 2023 10:34 am ETALBANY, N.Y.—New York Gov. Kathy Hochul vetoed legislation that would have banned noncompete agreements for employees, after business groups warned such a measure would push jobs out of state.Hochul, a Democrat, said Friday that she supported eliminating noncompete agreements for low and middle-income workers. She had floated a compromise with Democratic lawmakers in Albany in which noncompete clauses would remain for higher-paid employees but a flurry of negotiations, including through Friday, ended without a deal.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

Tencent Rocked by China’s New Boss Level

22Dec

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Money

Tencent Rocked by China’s New Boss Level

The rules of the game keep getting harder for China’s internet sector.On Friday, Tencent lost $46 billion in market value as Chinese gaming stocks traded in Hong Kong dropped, hurt by Beijing’s newly released draft regulations for the online games industry. It was Tencent’s biggest tumble in more than 10 years. Smaller competitor NetEase lost around $16 billion in value. The new proposed rules include restrictions on incentives to play or spend more online. They are the latest salvo in China’s fight against gaming addiction, which had earlier driven it to freeze new game approvals and launch investigations into their content. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

Biden Pushes Strict Climate-Subsidy Rules Despite Energy Producers’ Warnings

22Dec

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World

Biden Pushes Strict Climate-Subsidy Rules Despite Energy Producers’ Warnings

Updated Dec. 22, 2023 10:17 am ETWASHINGTON—The Biden administration on Friday proposed tough new rules for a valuable climate subsidy, siding with environmental groups despite warnings from some of the nation’s biggest energy companies that strict limits could stifle a critical industry.The proposed criteria would determine who gets generous tax credits for producing hydrogen, one of the few viable replacements for fossil fuels in heavy industries such as steelmaking and shipping, where renewable electricity and batteries aren’t sufficient. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

22Dec

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Business

Josh Hawley Loves Lina Khan

Missouri Sen. Josh Hawley doesn’t hide his disdain for Mitch McConnell. But does he have to take Republican administrative agency appointees hostage to spite the Senate Minority leader?Mr. Hawley on Wednesday told Mr. McConnell in a letter that he would deny unanimous consent this week to confirm Republicans Andrew Ferguson to the Federal Trade Commission and Todd Inman to the National Transportation Safety Board. The Senate left town for the year without voting on the nominees. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

In 2024, FASB to Nudge Forward Projects on Software, Compensation and Green Credits

22Dec

By adminNo Comments

World

In 2024, FASB to Nudge Forward Projects on Software, Compensation and Green Credits

The Financial Accounting Standards Board has a busy year ahead of it. It will be advancing projects in three tentpole areas—accounting for software costs and environmental credits and greater disclosure of income-statement expenses—aimed at providing investors with new financial insight, Chairman Rich Jones said in an interview. New rules, which can take years to come to fruition, can also saddle companies with a greater compliance burden. But in outlining his 2024 agenda, Jones said the accounting standard-setter for U.S. companies and nonprofits will again be asking investors and other stakeholders which issues to take up next.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

Activision and California Agency File Settlement of Gender Discrimination Claims

22Dec

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Technology

Activision and California Agency File Settlement of Gender Discrimination Claims

Activision Blizzard and a California regulator filed a legal settlement in which the videogame company agreed to pay to resolve gender discrimination charges while the state withdrew sexual-harassment claims.The settlement between Activision and the California Civil Rights Department, if approved by a judge, would end a legal battle that helped lead to the videogame company’s sale to Microsoft. Settlement documents that both sides said were filed in California Superior Court confirm an agreement from last week.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

Chinese Game Stocks Fall After China Proposes Online-Game Regulations

22Dec

By adminNo Comments

World

Chinese Game Stocks Fall After China Proposes Online-Game Regulations

Updated Dec. 22, 2023 3:40 am ETChinese gaming stocks traded in Hong Kong dropped after Beijing released draft regulations for the online game industry which included restrictions on the incentives to play or spend more online.Shares of Netease, one of China’s major online gaming companies, were 22% lower at 126.30 Hong Kong dollars (US$16.17) Friday, on track for their largest one-day loss since July 2021.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

22Dec

By adminNo Comments

Business

Congress’s College Financial Aid Fiasco

Next to paying tuition bills, parents of college-age students dread few things more than completing the Free Application for Federal Student Aid, aka FAFSA. So it would seem to be good news that the Education Department this month is rolling out a new and supposedly simpler form. But government makes nothing free or simple.Members of Congress from both parties have long complained that the FAFSA is unduly complicated and makes college less accessible. The feds use the form to determine student eligibility for Pell grants and federal loans. Many colleges use it to determine how much institutional aid to award students.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

Buy Now, Pay Later Keeps People Spending—Without Credit Agencies Knowing

17Dec

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Money

Buy Now, Pay Later Keeps People Spending—Without Credit Agencies Knowing

Priscilla Rodriguez, an overnight stocker at a Walmart, has a strategy to protect her credit score as she and her husband look to buy a house.The Sunland Park, N.M., resident uses installment loans from Afterpay to buy groceries, her pricey skin-care products and art supplies for her 10-year-old son, which keeps the balance on her two credit cards low—and the credit agencies in the dark. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

Activision Blizzard to Pay More Than $50 Million to Settle Lawsuit That Spurred Microsoft’s Takeover

16Dec

By adminNo Comments

World

Activision Blizzard to Pay More Than $50 Million to Settle Lawsuit That Spurred Microsoft’s Takeover

Updated Dec. 15, 2023 10:35 pm ETActivision Blizzard has agreed to pay more than $50 million to settle a high-profile lawsuit by a California regulator that helped spur Microsoft’s October takeover of the videogame company, according to people familiar with the matter.The Civil Rights Department sued Activision in mid-2021, alleging its leadership ignored numerous employee complaints of sexual harassment, discrimination and pay disparity. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8