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Ryan LLC, a global tax services provider, has filed a lawsuit against a new Federal Trade Commission rule that prohibits noncompete agreements nationwide. The firm argues the rule oversteps the FTC's regulatory authority and threatens businesses' ability to protect their intellectual property and retain top talent.

Apr 24, 2024

Businesses sue over FTC ban on noncompetes

Ryan LLC, a global tax services provider, filed a lawsuit against a new Federal Trade Commission (FTC) rule that prohibits noncompete agreements nationwide. The firm argues the rule oversteps the FTC’s regulatory authority. Ryan LLC alleged the rule threatens businesses’ ability to protect their intellectual property and retain top talent. The lawsuit contends that eliminating…

India already knocked off China as the most populous country in the world. Now it's going after China’s title of global growth engine.

Apr 24, 2024

Growing pains: Will India replace China as global growth leader?

India already knocked off China as the most populous country in the world. Now, it’s going after China’s title of global growth engine, a crown that economists believe India could claim by 2028. To get there, though, the developing nation will need to address some growing pains. “I think everyone would be making a mistake…

Apple's sales are falling in China as state-owned companies and government agencies pressure people to use local devices over foreign ones.

Apr 24, 2024

Collateral damage: Why Apple’s iPhone sales are getting crushed in China

Apple’s iPhone sales are getting crushed in China. Sales of the smartphone dropped 19% in the first three months of 2024, the worst showing since COVID-19 hit. Meanwhile, sales from the Chinese smartphone maker Huawei surged nearly 70%, according to Counterpoint research.  China remains one of the biggest markets for Apple but the company has…

The FTC voted to ban non-compete agreements potentially raising wages by $300 billion annually, though opponents predict legal challenges.

Apr 24, 2024

FTC votes to ban non-compete clauses

In a 3-2 vote Tuesday, April 23, the Federal Trade Commission voted to ban non-compete agreements nationwide, affecting an estimated 30 million workers. This rule prohibits new non-compete clauses and nullifies existing ones, except for certain high-earning senior executives. “We heard from employees who, because of non-competes, were stuck in abusive workplaces,” FTC Chair Lina Khan said.…

Robert F. Kennedy Jr. proposed using blockchain for U.S. budget transparency and advocated for Bitcoin to boost the economy.

Apr 23, 2024

RFK Jr. wants to put full government budget on blockchain for accountability

Robert F. Kennedy Jr., an independent presidential candidate, emphasized his proposal to use blockchain technology to manage the U.S. budget during a campaign stop in Michigan on Sunday, April 21. Kennedy wants to make federal spending transparent by allowing Americans to monitor government expenditures on items like toilet seats. “We’re gonna have 300 million eyeballs…

As the national debt creeps toward $35 trillion after decades of running deficits, here's what this former official is prescribing.

Apr 22, 2024

The US has ‘fiscal cancer.’ The 2024 election could put off treatment.

The U.S. national debt is creeping toward $35 trillion after decades of running deficits. According to a former comptroller general who served under two U.S. presidents, the country’s biggest deficit is in leadership. “The truth is, the U.S. has fiscal cancer,” David M. Walker said. “You can beat cancer. My wife beat cancer. But first…

Argentina's populist and enigmatic president wants to the country to join NATO. It comes as he works to strengthen ties with Western powers.

Apr 19, 2024

Argentina asks to join NATO as Milei looks to enhance security, strengthen ties

Argentina’s controversial populist President Javier Milei wants his country to join the North Atlantic Treaty Organization. The move is an effort to enhance political and security cooperation. Milei’s government is looking to tighten relations with Western powers and attract investment in Argentina. Argentina’s request came during talks on Thursday, April 18, in Brussels between NATO’s…

Apr 19, 2024

FBI director warns Chinese hackers waiting for ‘just the right moment’ to strike

FBI Director Christopher Wray warned that hackers linked to the Chinese government have infiltrated U.S. infrastructure and are waiting for “just the right moment to deal a devastating blow.” Wray emphasized the immediate threats China poses to U.S. national and economic security during his speech at the Vanderbilt Summit on Modern Conflict and Emerging Threats on…

Israel struck back in its first military response to Iran's attack and the 12-person jury is selected in Trump's hush money trial.

Apr 19, 2024

Israel carries out strike against Iran in response to drone attack

Israel struck back in its first military response to Iran since last weekend’s attack. The 12-person jury is selected in former President Donald Trump’s hush money trial. These stories and more highlight The Morning Rundown for Friday, April 19, 2024. Israel carried out strike against Iran in response to drone attack Israeli forces struck back…

The government wants to subsidize child daycare. Like other demand-side subsidies, this is only going to drive up prices even more.

Apr 18, 2024

Subsidizing demand won’t fix real problems

The Biden administration recently announced an initiative to cap child care copay expenses for approximately 100,000 low-income working families in the United States. Instead of paying set fees, those families will pay 7% of whatever their total income is as a copay for the government-subsidized daycare program. The program also hopes to fully cover all…

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