Canada markets close in 2 hours 4 minutes
  • Business
    Reuters

    Google scraps minimum wage, benefits rules for suppliers and staffing firms

    Alphabet Inc's Google on Friday said it will roll back requirements that U.S. suppliers and staffing firms pay their employees at least $15 an hour and provide health insurance and other benefits, a move that could allow the tech giant to avoid bargaining with unions. The elimination of the 2019 policy, along with other steps such as limiting access by temporary workers and vendors to internal systems, are designed to comply with shifting U.S. and global labor regulations related to contingent workers, a spokesperson for Mountain View, California-based Google told Reuters. "These updates bring us in line with other large companies and simply clarify that Google is not, and has never been, the employer of our suppliers’ employees," the spokesperson said.

  • Business
    Yahoo Finance Video

    The macro headwinds that geopolitical risks may stir up

    As tensions in the Middle East escalate, investors are reevaluating their portfolio allocations to offset any geopolitical risks. Brandywine Global Portfolio Manager John McClain joins the discussion to provide insights on navigating this environment while crude oil prices (CL=F, BZ=F) are also slowly ticking up Friday. McClain highlights three key factors that investors should consider from a "macro perspective." Firstly, he sees "a lot of upside potential" for oil prices, driven by a supply-demand dynamic. Secondly, McClain emphasizes the importance of interest rates, calling the US Treasury market "a safe haven," although he cautioned that investors "have to be careful" with their positioning along the yield curve. Lastly, he highlights the "US exceptionalism" in the foreign exchange (FX) market with the US dollar benefiting from being "the only place to go for AI." When it comes to portfolio construction, McClain advises investors to focus on "what industries are driving" the particular region they are invested in. He underscores the crucial role played by central banks and their monetary policies, which can significantly impact portfolio performance. For more expert insight and the latest market action, click here to watch this full episode of Wealth! This post was written by Angel Smith

  • News
    The Canadian Press

    Next UN climate talks are critical to plot aid for poorer nations, says incoming president

    WASHINGTON (AP) — The man who will run United Nations climate talks this November views the negotiations as a key link in international efforts to curb global warming. The conference in Baku, Azerbaijan, must build on last year's successful agreement to transition away from fossil fuels, said Mukhtar Babayev, Azerbaijan's environment minister who will serve as conference president of the talks known as COP29 this fall. And this fall's meeting must help pave the way for countries to come together

  • News
    The Canadian Press

    Apple pulls WhatsApp and Threads from App Store on Beijing's orders

    HONG KONG (AP) — Apple said it had removed Meta’s WhatsApp messaging app and its Threads social media app from the App Store in China to comply with orders from Chinese authorities. The apps were removed from the store on Friday after Chinese officials cited unspecified national security concerns. Their removal comes amid elevated tensions between the U.S. and China over trade, technology and national security. The U.S. has threatened to ban TikTok over national security concerns. But while TikT