DoorDash, Grubhub, Uber Eats sue NYC for trying to permanently cap delivery fees

Three of biggest US food delivery outfits – DoorDash, Uber Eats, and Grubhub – have sued New York City to stop it enforcing a limit on the fees they can extract from restaurants. In May 2020, the city temporarily ordered food delivery apps to charge restaurants no more than about 20 per cent of each order total to deliver takeout – 15 per cent for the actual deliveries, five per cent for being listed in the app, plus payment processing fees. The's city order was set to end in 90 days though it was later extended until February 2022.
Read more: https://www.theregister.com/2021/09/10/nyc_delivery_lawsuit/?source=Snapzu

America to Wells Fargo: This is unacceptable

Federal regulators slapped Wells Fargo with yet another fine for failing to move fast enough to compensate customers who were victims of the bank's "unsafe or unsound" practices. The Office of the Comptroller of the Currency, the banking regulator within the Treasury Department, told the scandal-plagued bank it must pay $250 million because it couldn't -— or wouldn't — make good on its promises. The punishment stems from a 2018 order that found problems with the bank's auto and home lending operations, including insufficient risk-management practices and improper fines imposed on customers.
Read more: https://www.cnn.com/2021/09/10/business/wells-fargo-fine-occ-scandal/index.html?source=Snapzu

Facebook to buy $100 million worth of unpaid invoices from 30,000 small businesses owned by women and minorities

Facebook this week announced a $100 million commitment to a program that supports small businesses owned by women and minorities by buying up their outstanding invoices. By buying up outstanding invoices, the Facebook Invoice Fast Track program puts money in the hands of small businesses that would have otherwise had to wait weeks if not months to get paid by their customers.
Read more: https://www.cnbc.com/2021/09/11/facebook-to-buy-100-million-of-invoices-from-diverse-owned-businesses.html?source=Snapzu

Report: Google has illegally underpaid thousands of temp workers since 2019

A new investigation from The Guardian pulls no punches while detailing Google's treatment of temporary workers, saying, "Google has been illegally underpaying thousands of temporary workers in dozens of countries and delayed correcting the pay rates for more than two years as it attempted to cover up the problem."
Read more: https://arstechnica.com/gadgets/2021/09/report-google-has-illegally-underpaid-thousands-of-temp-workers-since-2019/?source=Snapzu

A major shock is headed for the housing market

At the height of the pandemic, more than 7.2 million homeowners were in the mortgage forbearance program, which allows some borrowers to pause their payments. The economy has since posted one of the fastest recoveries in history. Now, just 1.7 million borrowers are enrolled in the forbearance program.
Read more: https://fortune.com/2021/09/05/housing-market-inventory-shock/?source=Snapzu

Producer inflation accelerated in August, as wholesale prices rose record 8.3% from a year ago

Prices that producers get for final demand goods and services surged in August at their highest annual rate since at least 2010, the Labor Department reported Friday. The producer price index rose 0.7% for the month, above the 0.6% Dow Jones estimate though below the 1% increase in July.
Read more: https://www.cnbc.com/2021/09/10/august-wholesale-prices-rise-8point3percent-on-an-annual-basis-biggest-advance-on-record.html?source=Snapzu

Ford To Close Both India Manufacturing Plants After Losses Of $2 Billion

The decision by Ford Motor Company to shutter plants in Sanand and Chennai comes after accumulated losses over 10 years and lack of growth. At least 4,000 employees to be affected by the move.
Read more: https://www.moneycontrol.com/news/technology/auto/ford-shuts-down-both-manufacturing-plants-in-india-7449451.html?source=Snapzu