• Reuters

    US ban on worker noncompetes faces uphill legal battle

    The U.S. Federal Trade Commission's ban on "noncompete" agreements commonly signed by workers is likely vulnerable to legal challenges, experts said, as some courts have grown increasingly skeptical of federal agencies' power to adopt broad rules. The commission in unveiling the rule on Tuesday said agreements not to join employers' competitors or launch rival businesses suppress workers' wages and stunt their mobility and job opportunities. About 30 million people, or 20% of U.S. workers, have signed noncompetes, the agency said.

  • Reuters

    Global Basel Committee bolsters rules for supervising banks

    The world's forum for banking regulators on Thursday tightened up its rulebook to focus better on spotting risks from climate change, the rise of non-banks, and digitalisation of finance. The Basel Committee on Banking Supervision, made up of banking regulators and central bankers from the G2O economies and other countries, last year set out proposals to revise its "core principles" for the first time since 2012. "The revised standard reflects changes to promote operational resilience, reinforce corporate governance and risk management practices, and address new and emerging risks, including the digitalisation of finance and climate-related financial risks," the committee said in a statement.

  • The Canadian Press

    Writers Guild of Canada authorizes strike as bargaining continues with producers

    TORONTO — The Writers Guild of Canada says its members have voted to authorize a strike if negotiators can't reach a deal with the Canadian Media Producers Association. The WGC says 96.5 per cent of those who voted were in favour of authorizing a strike, and a record 70.2 per cent of eligible voters cast a ballot. A strike authorization vote doesn't necessarily mean a union will go on strike, it just gives them the option should negotiations break down. The CPMA says it will remain at the bargai