- DoorDash, Uber Eats, and Grubhub have sued New York City over a new law that sets minimum wages for food-delivery workers.
- The law requires companies to pay workers around 50 cents for every minute they spend on a trip or a minimum of $17.96 an hour for the time spent active on each app.
- The companies argue that the new pay rates could be significantly higher than the minimum wage set for other industries and that compensating workers for time spent online is flawed.
- The apps claim that the new metrics would force them to raise consumer fees and limit the number of workers who could work for each app.
- DoorDash and Grubhub jointly filed a lawsuit, while Uber Eats and Relay filed separately.
Central banks around the world are pausing tightening campaigns as inflation eases and economies slow. Inflation-targeting regimes are keeping their own houses in order, while the US Fed's key inflation gauges fell to the slowest annual paces since late 2021.
Two massive earthquakes on Monday have devastated cities and towns across Turkey and Syria, with death toll of over 16,000. This is one of the worst natural disasters this century, alongside the 2004 Sumatran Tsunami, 2010 Haiti earthquake and 2008 Cyclone Nargis.
A raft of U.S. data and European inflation numbers will give guidance on how the world's top central banks will navigate the way ahead, including the hotly debated "no landing" scenario. Reports on U.S. durable goods orders, home prices, manufacturing and consumer confidence threaten to cement expec