Home Medical stocks Stocks higher, Uber, Lyft up, Penalty for Taiwanese vessel

Stocks higher, Uber, Lyft up, Penalty for Taiwanese vessel

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NEW YORK (AP) — Major indexes managed to eke out gains on Wall Street today even as most stocks fell following more discouraging data on the economy and more than 1.1 million workers applied for unemployment benefits last week. Gains for big technology stocks, which have an outsize influence on indexes because of their gigantic values, were enough to push the S&P up 10.66 points or 0.3% to 3,385.51. The Nasdaq is up 118.49 points, or 1.1%, to 11,264.95. The Dow gained 46.85 points, or 0.2%, to 27,739.73. Small-company stocks fell with the Russell 2000 losing 7.76 points, or 0.5%, to 1,564.30.

BERKELEY, Calif. (AP) — Uber and Lyft bounced higher after an appeals court said the ride-hailing giants can continue treating their drivers as independent contractors in California while an appeal works its way through the court. Both companies had threatened to shut down if a ruling went into effect Friday morning that would have forced them to treat all their drivers as employees, a change they said would be impossible to accomplish overnight. At issue is a decision that could re-shape the so-called gig economy as drivers, delivery workers and others who work for popular apps on an as-needed basis seek improved working conditions and benefits that many in the workforce enjoy.

WASHINGTON (AP) — The United States is halting imports from a Taiwan-based fishing vessel that reportedly has supplied the global tuna trading company that acquired Bumble Bee Seafoods this year. The Trump administration acted after reports of abusive conditions and forced labor. It’s the second time since May that the administration has imposed the trade penalty against a vessel in the Taiwanese fleet. U.S. Customs and Border Protection issued the order based in part on an investigation by Greenpeace East Asia. The global fishing industry has been plagued by labor abuses for years, with workers subjected to brutal treatment often with little or no pay.

WASHINGTON (AP) — One in five U.S. nursing homes faced severe shortages of protective gear like N95 masks this summer, according to a new study that found facilities also struggled with a lack of staff as COVID-19 cases rebounded. The Trump administration says the needs of nursing homes are a top priority. With less than 1% of the U.S. population, they account for 43% of coronavirus deaths. Facilities that were government-owned and received higher shares of their earnings from Medicaid, and had lower quality ratings were more likely to confront staffing shortages.

NEW YORK (AP) — As hospitals care for people with COVID-19 and try to prevent its spread, more patients are opting to be treated where they feel safest: at home. Across the U.S., “hospital at home” programs are taking off amid the pandemic, reducing strains on medical centers and easing patients’ fears. Communications technology, portable medical equipment and teams of doctors, nurses, X-ray techs and paramedics make this possible. Like telemedicine, the concept stands to become more popular with consumers hooked on home delivery and other Internet-connected conveniences. The programs are growing fast with a boost from Medicare and private health insurers.

https://kvia.com/news/business-technology/2020/08/20/stocks-higher-uber-lyft-up-penalty-for-taiwanese-vessel/
https://kvia.com/news/business-technology/2020/08/20/stocks-higher-uber-lyft-up-penalty-for-taiwanese-vessel/

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