Last week, Uber floated the concept of a "portable benefits system" for its drivers in Washington State. This initiative isn't an effort to improve workers' lives; it's a ploy to justify and obscure the volatile labor conditions the company has created in the name of cutting costs. Uber is merely chiseling away at the issue, as lucratively as it can, until the next lawsuit surfaces.An iPhone with an Uber application login screen on October 25, 2017.
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European stocks are steady in post-Christmas trading if struggling for traction after a mixed session in Asia, amid trading thinned by a holiday-shortened week and ongoing worries about the tech sector; however a strong rally in commodities - including copper and oil - buoyed expectations for a strong 2018 and helped offset concerns over the technology sector triggered by reports of soft iPhone X demand.
This was not teh Santa Claus rally that everyone was promised...
- Analysts Cut iPhone X Shipment Forecasts, Citing Lukewarm Demand (BBG)
- North Korea likely to pursue talks, says South (Reuters)
- The quiet probe into Clinton email investigation could be a landmine for Robert Mueller (USA Today)
- Bitcoin rises 10 percent, recovers from last week's brutal selloff (Reuters)
- U.S. Retailers Feel Christmas Cheer After a Tough Year (WSJ)
- Kremlin Sees ‘Unbearable’ Risk to U.S. Ties in New Sanctions (BBG)
- Murder in America: What Makes Cities More Dangerous (WSJ)
For the second day in a row, most Asian markets - at least the ones that are open - were dragged lower by tech stocks and Apple suppliers, with the MSCI Asia Pacific Index down 0.2% led by Samsung Electronics and Taiwan Semiconductor Manufacturing in response to the previously noted report that Apple will slash Q1 sales forecasts for iPhone X sales by 40% from 50 million to 30 million. Most Asian equity benchmarks fell except those in China. European stocks were mixed in a quiet session while U.S.