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Report: Uber, Lyft In Talks With California Governor On Gig Economy Workers

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Report: Uber, Lyft In Talks With California Governor On Gig Economy Workers

Uber Technologies Inc (NYSE: UBER) and Lyft Inc (NASDAQ: LYFT) shares have been trading higher following reports that the California state Senate has passed a bill that will reshape how the companies do business.

The legislation is known as “Assembly Bill 5” and would require gig economy workers to be reclassified as employees instead of contractors.

California Gov. Gavin Newsom said he still hopes to make deals with the companies and is still in talks with the two companies, The Wall Street Journal reported.

Lyft shares were up 3.63% at $47.10 at the time of publication Wednesday, while Uber shares were higher by 1.76% at $34.10. 

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Photo via Wikimedia

Posted-In: ride-hailing Wall Street JournalNews Politics Media General Best of Benzinga

 

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