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Rideshare and delivery companies want the Biden administration's nominee for the Department of Labor to clarify her position on an incoming worker-classification rule that could expand workers' rights, a trade group representing the companies said on Monday. The Department of Labor in October proposed a rule that would make it more difficult for companies to treat workers as independent contractors, which would shake up ride-hailing, delivery and other industries that rely on gig workers. The Flex Association, which represents companies such as Uber and Lyft, sent a letter to Biden on Monday asking that his nominee to lead the U.S. Department of Labor, Julie Su, explain how she would implement the proposed rule in a "manner that protects independent work."
Yahoo Finance tech editor Dan Howley discusses how California’s court ruling on Prop. 22 is boosting ride-share stocks Uber and Lyft, while Apple reportedly delays bonuses amid cost assessments.
Yahoo Finance’s Daniel Howley joins the Live show to discuss the rise in stock for rideshare giants Uber and Lyft following a California court’s decision to uphold Prop. 22.