 U.S. railroad companies have reached a tentative agreement with unions, according to the Labor Department. The deal, announced this morning, appears to have prevented labor disruptions that would have exacerbated supply chain problems and increased inflationary pressures in the U.S. economy. More: - Railroad workers had threatened to go on strike if a deal was not reached by Friday.
- It took 20 consecutive hours of negotiations to reach the deal, according to the Labor Department.
- The agreement will prevent unions from holding strikes for several weeks to provide time to ratify the deal.
- There is no guarantee that the deal will be ratified by all the unions involved in discussions.
Zoom Out: - The strikes threatened to cripple key infrastructure that manages the transportation of 40% of all long-haul cargo in the U.S.
- If railroads were to stop transporting crude oil, U.S. refineries would have to slow production.
- The Association of American Railroads estimated that the strikes would have cost the U.S. economy $2B per day.
| |
 A European court has ordered Google to pay a €4.13B ($4.13B) fine. Wednesday's ruling found Google to be guilty of using its mobile operating system Android "as a vehicle to cement the dominance of its search engine," said Margrethe Vestager, the EU Commissioner for Competition. More: - In 2018 Google was found guilty of breaking European law by making the installation of certain apps a condition for manufacturers to license the Google App store.
- The Commission also found Google has secured its internet search dominance by paying smartphone makers and network operators to sell phones with Google apps preinstalled.
- The European Commission imposed a fine of €4.34B in 2018, which Google appealed.
- Google lost the appeal in the General Court, a constituent of the Court of Justice of the European Union.
- "The General Court largely confirms the Commission's decision that Google imposed unlawful restrictions on manufacturers of Android mobile devices and mobile network operators in order to consolidate the dominant position of its search engine," the court on Wednesday.
More: - The €4.34B penalty issued in 2018 was the largest anti-trust fine ever imposed by a European court.
- European authorities have forced Google to pay €8.2B in fines since 2017.
| |
 A message from DOUBLE Double is the #1 remote executive assistant service for busy founders, investors, executives, or anyone looking to save time and stay focused on what’s most important. Research shows that at least 30% of managers’ time is still eaten up by tasks that should be delegated. Double helps you: - Scheduling meetings
- Inbox management
- Meeting prep & follow-up
- Report creation
- Invoicing
- Recruiting
Finding, training and managing a great assistant is a lot of work. Double makes it easy to get started with an experienced and vetted assistant right away, with no long-term contract. Find your Double today and get $300 off your first month with the code INSIDE22. Find Your Double
| |
 Hydraulic structure damaged by a Russian missile strike in Kryvyi Rih, Ukraine. Reuters. Russian missiles struck a Ukrainian dam. Some residents were told to evacuate as water flooded areas of the Ukrainian city of Kryvyi Rih. More: - The attacks occurred overnight and were intended to cause more water to flow from the dam, according to Oleksandr Vilkul, head of the Kryvyi Rih military administration.
- Water rushing from the dam caused water levels to rise in the Inhulets river, which flooded houses.
- The attack disrupted the water supply in the city, which had a population of 600,000 before the Russian invasion.
- Ukrainian President Volodymyr Zelensky said the attack was an act of revenge for recent Ukrainian advances and referred to Russian forces as “scoundrels who, having escaped from the battlefield, are trying to do harm from somewhere far away."
Zoom Out: - The missile strikes follow a Ukrainian counteroffensive that retook 1,158 sq miles of territory in recent weeks, including the strategically significant cities of Izyum and Kupiansk.
| |
GOOD NEWS: Billionaire Yvon Chouinard, the founder of Patagonia, is giving away his entire company to fight climate change. The decision is in line with Chouinard's longstanding love for the natural environment and his disregard for corporate conventions. More: - 83-year-old Chouinard is the founder of outdoor clothes maker Patagonia, which is valued at around $3B.
- Chouinard, who was a pioneering rock climber in the 1960s, gave away 98% of the company's stock to the Holdfast Collective, a newly formed non-profit dedicated to combating climate change.
- Following the move, the company's profits, which amount to around $100M a year, will be spent on conservation efforts.
- The remaining 2% of the company's shares, which represents all of its voting stock, will be owned by the Patagonia Purpose Trust, which will be overseen by the Chouinard family and its advisors.
- The Patagonia Purpose Trust is intended to ensure that Patagonia, which will remain a profit-generating company, operates in a socially responsible way.
- “We are going to give away the maximum amount of money to people who are actively working on saving this planet,” said Chouinard.
| |
 A message from EYEO Get your free ticket to Ad-Filtering Dev Summit Join the free hybrid event in Amsterdam and online on 5 and 6 October 2022 alongside speakers from Meta, Opera, AdGuard, Mozilla, Google, eyeo and many more. You’ll learn about the future of ad filtering, from new technology like machine learning and VR/AR and embedded devices, to discussions on new privacy regulations and topics concerning the internet at large. Hear from industry professionals like: Get your free ticket to attend the event live in Amsterdam or online, on 5 and 6 October 2022. Register Here
| |
 A U.S. Senate panel approved a $6.5B package to support Taiwan against Chinese military aggression. If it is approved by both chambers of Congress, the proposed legislation would allow the U.S. to provide direct military funding to Taipai for the first time. More: - The U.S Senate foreign relations committee voted 17-5 to pass the Taiwan Policy Act.
- The bill would create a $2B loan facility to support Taiwan's weapons purchases and it makes the country eligible for further support in building a weapons stockpile.
- “We are carefully and strategically lowering the existential threats facing Taiwan by raising the cost of taking the island by force so that it becomes too high a risk and unachievable,” said Senator Robert Menendez (D-NJ), the chair of the panel.
- The proposed legislation requires the White House to sanction state-owned Chinese banks if Beijing is found to have “engaged in a significant escalation in aggression” against Taiwan.
- The Taiwan Policy Act will still need to pass through the House and the Senate before being implemented.
Zoom Out:
| |
 Florida Governor Ron DeSantis ordered the relocation of 50 migrants who were transported by plane to Martha's Vineyard, Massachusetts. DeSantis confirmed on Wednesday that two aircraft were sent from Florida as part of a "relocation program to transport illegal immigrants to sanctuary destinations." More: - Massachusetts state Sen. Julian Cyr confirmed that the aircraft transported about 50 migrants to Martha's Vineyard on Wednesday.
- "There was no advance notice to anyone in Martha's Vineyard or Massachusetts that these migrants were arriving to my knowledge," said Cyr.
- Food was provided for the newcomers and a play area was set up for the children, according to state Rep. Dylan Fernandes.
- Town emergency services coordinated to establish shelters at local churches, Martha's Vineyard's Island Wide Regional Emergency Management said in a statement.
Zoom Out: - DeSantis' action comes after Republican Govs. Greg Abbott of Texas and Doug Ducey of Arizona started bussing migrants to Washington, DC, earlier this year.
- Abbot said he began relocating migrants because the Biden administration tried to lift an emergency order that allowed authorities to deny migrants entry into the U.S. during the pandemic.
| |
QUICK HITS: - Organize your startup business the right way with ClickUp. Create tasks and projects for each business division.*
- Ukrainian President Volodymyr Zelensky was involved in a traffic accident on Thursday but only sustained minor injuries. Zelensky was returning to Kyiv after visiting a battlefield when the car he was traveling in collided with another vehicle.
- An employee at a Fick-Fil-A in Fort Walton Beach, Florida was punched in the face when he tried to stop a man from hijacking a woman's car. The attacker was arrested by deputies and charged with carjacking with a weapon and battery.
- Worldwide deaths from COVID-19 last week dropped to their lowest levels since March 2020, according to the World Health Organization (WHO). WHO Director-General Tedros Adhanom Ghebreyesus said that "the end is in sight" and urged nations to keep combating the virus.
- Electric Vehicle manufacturer Tesla may face a class action lawsuit. Briggs Matsko, the named plaintiff, in a lawsuit filed on Wednesday, has accused Tesla of misleading consumers with the advertising of the company's Autopilot, Enhanced Autopilot, and Full Self-Driving features.
*This is a sponsored post.
| |
| |
UPCOMING EVENTS - September 14 - AMA with Brian Dean (Founder of Backlinko) (Register Here)
- September 21 - Hired's Navigating Market Uncertainty: The State of Tech Hiring Webinar (Register Here) *
- September 21 - AMA with Kristen Ruby (Founder of Ruby Media Group) (Register Here)
- September 22 - "Top 10 Overlooked VxWorks Features" with Brian Kuhl (Register Here) *
- September 28 - AMA with Leigh-Ann Buchanan (Founder of aīre ventures) (Register Here)
- October 05 - AMA with Ram Bartov (Chief Accounting Officer at TripActions)* (Register Here)
- October 11 - AMA with Mike Malone (Smallstep) (Register Here)
- October 12 - AMA with Bill Glenn (Executive Chairman at Crenshaw Associates) (Register Here)
- October 19 - AMA with Zecca Lehn (Responsibly VC) (Register Here)
- October 25 - Meet Our Fund 4, an Inside.com Summit (Register Here)
*This is a sponsored listing
| |
 |  | Gregory Bridgman is a writer and researcher with an academic background in politics and the philosophy of science and technology. He holds a BA from the University of Cape Town, an MS from University College London, and a Ph.D. from the University of Cambridge. He is interested in climate issues, technological changes, and the implications of the fourth industrial revolution. Please feel free to contact me at gregory@inside.com! | | | | Editor | Eduardo Garcia is a writer and editor based in New York. He is the author of "Things You Can Do," an illustrated book about climate action. Bylines in The New York Times, The Guardian, Slate, Scientific American, and others. In one of his previous lives, Eduardo worked as a Reuters correspondent in Latin America for nearly a decade. | |
| |
| |
Comments
Post a Comment