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'We screwed up': Doordash admits underpaying New York workers

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Image source, Getty Images By Francisco Velasquez Business reporter Published 22 September 2026, 17:28 BST Updated 3 hours ago DoorDash has agreed to pay a $131.5m ( 99m) settlement to New York City regulators after the food delivery giant admitted failing to compensate thousands of workers correctly or on time. "Simply put, we screwed up," DoorDash said. "Our mistakes meant some Dashers were underpaid or paid late." The agreement with the Department of Consumer and Worker Protection follows a city investigation into wage violations, with a significant share of the payout addressing how DoorDash calculates compensation for the time delivery drivers spend waiting for orders. The settlement marks another chapter in an ongoing battle between so-called gig economy platforms and municipal leaders. The likes of Uber Eats and Grubhub have repeatedly clashed with city officials over tipping laws, minimum wages and data-sharing requirements. The majority of DoorDash's s...

Trump bought and sold shares in Musk’s SpaceX in July, financial disclosure shows

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Article about global economy: Trump bought and sold shares in Musk’s SpaceX in July, financial disclosure shows 🔥 EXCLUSIVE PARTNER OFFER QCY H3S -56dB Adaptive ANC Over Ear Headphone Hi-Res LDAC Spatial Sound Wireless Earphone Bluetooth 6.0 Dual Driver 102H Headset Special Price 🔥 Limited time offer! Grab your favorite item at an incredible price. Quality guaranteed! 🛒 Buy Now on AliExpress → Affiliate link — Commission earned at no extra cost to you 📰 Original source: https://www.investing.com/news/stock-market-news/trump-bought-and-sold-shares-in-musks-spacex-in-july-financial-disclosure-shows-4911482 © EcoNews DZ — Global Economic & Financial News

Stocks making the biggest moves midday: Lennar, Capri, Vicor, Amgen & more

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Stocks making the biggest moves midday: LEN, CPRI, VICR, AMG Skip Navigation Markets Business Investing Tech Politics & Policy Video Watchlist Investing Club PRO Livestream Menu Check out the companies making the biggest moves midday: Lennar The homebuilder's stock rose more than 4% after Berkshire Hathaway disclosed it purchased more than 2.7 million shares. Amgen Shares gained more than 3% after the biotech name announced positive Phase 3 trial results for dazodalibep, which aims to treat moderate-to-severe Sjögren's disease in adults. Grab Holdings Shares jumped more than 7% after the Singapore-based ride-hailing company's CEO, Anthony Tan, disclosed he recently bought 10.4 million shares. SoFi Technologies Shares climbed more than 1% after the fintech giant announced that stablecoin settlement is now live across its debit and credit card program . Capri The parent of Michael Kors and Jimmy Choo saw its stock rise 7% after WWD reported, citing sources, that the comp...

Private markets dealmaking is starting to mirror Greater China 's K-shaped economy

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Private markets dealmaking is starting to mirror Greater China 's K-shaped economy Kristie Neo Tue, September 22, 2026 at 10:21 AM PDT 2 min read China's much-discussed "K-shaped" economy which describes the widening gap between a booming tech industry and sluggish consumer sectors is now feeding through into private market dealmaking. While a national focus on AI, semiconductors and advanced manufacturing has led to a surge in VC investment in Chinese tech startups, PE dealmaking has been stunted in sectors hit by weaker consumer spending and slower GDP growth. Greater China VC deal value more than doubled in the first half of 2026, to $52.8 billion, even as deal count edged down 1.8% to 3,764 transactions, according to PitchBook's 2026 Greater China Private Capital Breakdown . PE investment rose too, up 62.1% in H1 to $23.4 billion across 172 deals. But almost two-thirds of that went into growth deals rather than buyouts, and PE backing for consumer businesses ...

New EU industry rules would damage UK, warns Burnham

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Image source, Reuters By Kate Whannel , Chris Mason and Isabella Allen Published 22 September 2026, 12:24 BST Updated 3 hours ago Andy Burnham has warned that planned EU rules to help European manufacturers would damage the UK, ahead of a meeting later with European Commission President Ursula von der Leyen. The proposals aim to protect EU industry from Chinese competitors by giving companies inside the bloc priority for public contracts and subsidies. The prime minister said he was concerned about how British industry and supply chains could be affected, and would raise the subject with von der Leyen when he meets her during a UN summit in New York. Speaking on the flight to the US, Burnham also declined to rule out committing to rejoining the EU in Labour's next manifesto, saying it was an issue "for another day". He said his immediate priority was to rebuild the relationship with the EU and reach an agreement that would boost the British economy. The Made In Europe sc...

Kalshi asks CFTC to allow margin trading on its platform, letting users buy with borrowed funds

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Prediction market platform Kalshi filed on Tuesday with federal regulators to seek approval to offer leverage on event contracts, a prevalent practice already on Wall Street for stocks and futures. The filing with the Commodity Futures Trading Commission the federal regulator for event contracts comes from Kalshi Klear, the company's internal clearing house. It's the latest move by the company as prediction markets increasingly seek to attract institutional liquidity to event contract exchanges. Kalshi already provides leverage on its perpetual futures contracts, though has yet to receive the same approval to do so for its prediction markets. Offering margin trading, which allows a trader to borrow money to purchase more of an asset than the cash they put down, has been seen widely by institutions eyeing the prediction market space as a critical step needed for bigger players to participate, which are used to the practice on traditional equities and derivatives. Currently, al...

Watch: Trump speaks at UN General Assembly

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President Donald Trump on Tuesday is set to focus on U.S. threats from abroad in an address to the United Nations General Assembly in Manhattan. Trump will defend his decision to launch a war against Iran , tout a military deal with Greenland and Denmark and accuse Cuba of "coordinating with left-wing radicals and Communist networks," excerpts of his prepared remarks show. "The United States will no longer permit threats to America to gain a foothold anywhere in the Western Hemisphere," Trump will say, according to those excerpts, which were provided to White House reporters on condition of anonymity ahead of the public remarks. "And if necessary, we will use our unmatched military might to secure the vital national interests of the United States," Trump will say. This is developing news. Please check back for updates. 🔥 EXCLUSIVE PARTNER OFFER AKKO TAC75 HE Magnetic Switch Keyboard 75% Gaming Keyboa...

Why Muse just added billions to Meta's market cap and to Mark Zuckerberg's net worth

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Why Muse just added billions to Meta's market cap and to Mark Zuckerberg's net worth Brian Sozzi Executive Editor Tue, September 22, 2026 at 6:12 AM PDT 3 min read META AAPL The way the market sees it now, Meta ( META ) is about to upend the enterprise tech market with its new Muse AI agent. "Lots can and will change in the future, but the key, simple point is that Meta has a hit on its hands with Muse," Evercore ISI Mark Mahaney said in a new note. Meta stock erupted, gaining 11.3% to close at $741.25 on Monday, adding a robust $192 billion to the company's market cap and more than $13 billion to CEO Mark Zuckerberg's net worth. The stock rose another 0.2% in premarket trading on Tuesday. Investor enthusiasm reached a fever pitch as Muse surged to the top spot on Apple's App Store. Muse reached 2.8 million downloads in its first 12 days across both the US and Canada app stores, according to Sensor Tower data. What's more, Muse has surpassed the early...

Trump is checking out of his presidency

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Sir Jim Ratcliffe suspends production at key UK plants blaming high gas prices

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Image source, Getty Images Image caption, Sir Jim said Ineos was being 'forced' to pause production at the three plants Published 22 September 2026, 11:35 BST Updated 5 minutes ago Billionaire Sir Jim Ratcliffe's industrial giant Ineos is pausing production at its three plants in Hull, blaming high UK gas prices. The firm said gas prices in the UK are twelve times higher than in the US, and eight times more expensive than the coal-based processes used by Chinese competitors. Sir Jim said: "We are being forced to mothball some of the most efficient plants in Europe, but with gas prices now 12 times the level in the US and 8 times that of China, we just cannot compete." The facilities produce raw materials used to make pharmaceuticals, clothing, cosmetics, detergents, construction materials and military explosives in the UK and Europe. Gas is a key ingredient in production. Ineos said the move will affect up to 1,000 of its staff, of whom 245 work directly at the s...

FDA Approves Fayuvi. What Does It Mean for Ultragenyx (RARE)’s 2027 Profitability Target?

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FDA Approves Fayuvi. What Does It Mean for Ultragenyx (RARE)’s 2027 Profitability Target? Abdul Rahman Tue, September 22, 2026 at 3:18 AM PDT 3 min read RARE Ultragenyx Pharmaceutical Inc. (NASDAQ: RARE ) just added another commercial product to its portfolio. The FDA on September 17 approved Fayuvi for the treatment of neurologic manifestations of Sanfilippo syndrome Type A in pediatric patients with preserved neurodevelopmental function. Fayuvi becomes the first approved treatment for this rare and fatal childhood disorder. Ultragenyx stock jumped more than 12% following the announcement of the Fayuvi approval. But the stock is still down nearly 40% this year. The more important question for investors right now is what the approval changes about Ultragenyx's earnings trajectory. The answer is that Fayuvi expands Ultragenyx's commercial portfolio just as the company is working toward profitability in 2027. FDA Approves Fayuvi. What Could That Mean for Ultragenyx (RARE)'s ...

Nvidia CEO Jensen Huang says ‘nothing would give me more joy’ than to pay more taxes: ‘I'm just afraid of being poor’

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Nvidia CEO Jensen Huang says nothing would give me more joy’ than to pay more taxes: I'm just afraid of being poor’ Mike Crisolago Tue, September 22, 2026 at 2:15 AM PDT 6 min read NVDA Matt Ramey/AFP via Getty Images While California faces a billionaire exodus ahead of its November 3 wealth tax vote, Nvidia co-founder and CEO Jensen Huang says he'd happily pay more to the tax man. During a recent interview with CBS News , Huang whose net worth Forbes recently pegged at more than $197 billion was asked about the prospect of having to pay up to $8 billion in taxes over five years if Proposition 40 passes. He responded that "it's a privilege, it's a responsibility" to pay taxes and that "nothing would give me more joy" than to pay more. Must Read Jeff Bezos backs a platform that lets anyone invest in rental homes for as little as $100 6 ways to build wealth like a landlord without actually being one Dave Ramsey warns nearly 50% of Americans are making...

Jersey Mike’s (JMKE) Owns the Sub Business. Winning Over Younger Diners is the Next Fight

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Jersey Mike’s (JMKE) Owns the Sub Business. Winning Over Younger Diners is the Next Fight Fatima Gulzar Sun, September 20, 2026 at 2:10 PM PDT 3 min read JMKE WING On September 1, 2026, the Wall Street Journal reported that Jersey Mike's Subs Inc. (NYSE: JMKE ), a Blackstone-backed sandwich chain that went public in July, has built a dominant position with affluent, older customers but still needs to attract Generation Z to sustain its growth, since roughly 70% of its customers skew toward older, more established diners. CEO Charlie Morrison, the former Wingstop chief, has said the company needs to be more proactive about reaching younger customers as it competes for growth against fast-casual chains that already dominate that demographic. Jersey Mike's (JMKE) Owns the Sub Business. Winning Over Younger Diners Is the Next Fight Copyright: bhofack2 / 123RF Stock Photo Bull Case Jersey Mike's Subs Inc. (NYSE: JMKE )'s strong unit economics give the company a foundation f...

Are we developing a distaste for effort?

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What Xi wants from his summit with Trump

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Chinese leader’s most urgent goal is extending trade truce with US, but he is also expected to discuss Taiwan, Iran and AI 🔥 EXCLUSIVE PARTNER OFFER UGREEN Studio Pro 48dB ANC Wireless Headphones Over Ear Bluetooth Earphones Active Noise Cancellation Hi-Res LDAC 120h Playtime Special Price ⚡ Flash sale! Get the best deals on AliExpress today. Hurry, stocks are limited! 🛒 Buy Now on AliExpress → Affiliate link — Commission earned at no extra cost to you 📰 Original source: https://www.ft.com/content/9bea08f4-c9e8-450a-9d0f-0af0bf47b64e?syn-25a6b1a6=1 © EcoNews DZ — Global Economic & Financial News

Betting on the yen: the risks of the carry trade

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Investors rush into India’s National Stock Exchange IPO at valuation multiple above Nasdaq

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The $2.3 billion initial public offer of shares in India's National Stock Exchange has received a frenzied response from investors, drawing bids worth more than $10 billion despite its hefty price-to-earnings multiple, which values it above several U.S. stock exchange businesses such as Nasdaq . Driven by strong demand from institutional and high-net-worth buyers, the NSE IPO secured bids for 505.81 million shares on Monday, 5.7 times the 88.64 million shares on offer. As part of the IPO, the company also raised 67.5 billion rupees ($704 million) last week from anchor investors such as the Monetary Authority of Singapore, the Abu Dhabi Investment Authority and India's top life insurer Life Insurance Corporation of India . The NSE IPO is the country's biggest listing so far this year and the second largest ever after Hyundai Motor India's share offer of $3.3 billion in 2024. The offer has been one of the most anticipated large listings this year in India and has been...

Here's who we know is going to the Trump-Xi dinner so far

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BEIJING With two days to go before Chinese President Xi Jinping is expected to land in the U.S., very little is known about which Chinese executives will join him. China's Ministry of Foreign Affairs did not immediately respond to a CNBC request for comment Tuesday morning. Late on Monday, the ministry confirmed Xi's U.S. trip, planned for Wednesday to Friday. On the U.S. side, Microsoft CEO Satya Nadella is one of the executives who will attend a dinner expected Thursday in Washington, D.C., according to a source familiar. Microsoft and the White House did not immediately respond to a CNBC request for comment. Senior U.S. officials have shared names of some other executives who will join: Those business leaders include: On the Chinese side, Reuters reported last week that business representatives under consideration included those from electric car giant BYD, smartphone company Xiaomi, battery makers CATL and Gotion, consumer electronics manufacturer Hisense, automotive part...

All Iranian airlines to be 'shut down' from Wednesday, Bessent tells CNBC

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All Iranian airlines will be shut down from Sept. 23, according to U.S. Treasury Secretary Scott Bessent. Speaking to CNBC's " Squawk Box ," Bessent added, "How do we do that? That if they land, you cannot provide them with fuel. You cannot provide them with landing services, you cannot sell them tickets, or you will be knocked out of the dollar system." The Treasury Secretary said that Washington was pressuring Iran "like never before," saying that the U.S. was putting a stop to Iran's enablers around the world, such as sanctioning banks. Last week, the Treasury announced new sanctions on Russia's state-controlled VTB Bank as part of its effort to economically isolate Iran by targeting its business partners and other financial "enablers." Separately, the U.K. will reportedly support Saudi Arabia against Iranian backed Houthi rebels, with the Royal Air Force providing air to air refueling of Saudi planes. Prime Minister Andy Burnham ...

Flights at major US airports delayed after cable cut by construction workers

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Image source, EPA Image caption, Flights resumed at New York's LaGuardia Airport and other airports Monday evening after the disruption By Max Matza Published 21 September 2026 Updated 2 minutes ago Hundreds of flights have been delayed at major airports in the US after construction workers accidentally cut a cable needed for air traffic control. Ground stops and delays were issued on Monday afternoon for airports in New York, Pennsylvania, New Jersey and Massachusetts. Hours later, US Transportation Secretary Sean Duffy said the cable had been repaired and airports would resume normal operations, though delays were still expected. The major east coast disruption came ahead of the UN General Assembly (UNGA) in New York City on Tuesday, which is expected to be attended by scores of world leaders arriving into New York-area airports. That includes UK Prime Minister Andy Burnham, who managed to board his flight before the delays began and arrived as planned. The delays happened after...