Business
Entertainment union Equity to challenge court judgment on casting platform
The performing arts and entertainment union is to seek to appeal against last week’s High Court judgment which found against its case that casting platform Spotlight should be regulated.
Equity is concerned about the “economy-wide implications” for working people across the UK which it says have now arisen as a result of the judgment.
Equity general secretary Paul Fleming said: “This case simply sought the protection of regulation to limit fees to a ‘reasonable’ level through existing regulations, but the implications of the judgment are large and the idea that Spotlight can’t be regulated is dangerous and has consequences for the wider economy.
“We have been overwhelmed by the positive messages from Equity members since the judgment and their encouragement to continue this campaign.
“Many are astonished that the judge has ruled that Spotlight ‘does not provide services for the purposes of finding persons employment’.
“Casting is our industry’s term for the exchange and supply of labour for performing in productions, and any actor will tell you that they subscribe to Spotlight to find work.
“Equally worrying are the sweeping implications for working people across the UK, who may now be left unprotected from up-front charges by similar platforms elsewhere in the growing gig economy.”
Equity won support for its case from delegates at the TUC Congress in Brighton on Wednesday.
Business
Former Milwaukee Bucks owner Marc Lasry says he doesn’t believe L.A. Clippers owner Steve Ballmer circumvented salary cap
Former Milwaukee Bucks co-owner Marc Lasry said he doesn’t believe L.A. Clippers owner Steve Ballmer attempted to circumvent the NBA’s salary cap by working with a third-party company to surreptitiously pay superstar Kawhi Leonard in 2021
“It’s not something I would ever believe,” Lasry told CNBC in an exclusive interview. “I’ve always found him to follow the rules and do what’s right.”
Journalist and podcast host Pablo Torre reported earlier this month that Leonard had signed a $28 million sponsorship deal with a company called Aspiration. The deal required the NBA forward to do almost nothing with Aspiration to collect the money.
Ballmer invested $50 million in Aspiration. Torre reported that sources from within Aspiration told him the purpose of the deal was for the Clippers to circumvent the league’s salary cap by paying Leonard more money off the books. The NBA has begun an investigation based on his reporting.
Lasry said there’s always pressure to win in the NBA, but “there’s not pressure to skirt the rules.”
“In the NBA, everybody knows the rules. You follow it, and it’s because you know that if you don’t, you’re just going to get in a lot of trouble,” he said.
Ballmer and the Clippers have denied the allegations of salary cap circumvention. Aspiration filed for bankruptcy earlier this year and its co-founders have been charged with fraud.
“I think it’s probably a lot of smoke, but I don’t think there’s much there,” said Lasry.
Lasry agreed to sell his stake in the Bucks in 2023 to Cleveland Browns owners Jimmy and Dee Haslam at a $3.5 billion valuation.
E-bike usage has spiked in London as commuters sought alternative ways to get around the city while strikes shut down Tube services.
Lime revealed a more than 50% jump in trips during rush hour traffic on Monday and Tuesday, rising to three-quarters by Wednesday.
It coincided with a strike by London Underground workers with thousands of members of the Rail, Maritime and Transport union (RMT) walking out during the week.
The company, which operates rental e-bikes and e-scooters in towns and cities around the world, said people had been taking longer journeys this week.
On Monday between 7am and 11am, the total number of trips taken surged by 58%, compared with the same period the previous week.
The duration of trips rose by 37% and distances increased by 24%.
Momentum continued into Tuesday, where total trips increased by 50%, while the duration surged by 41% and distance rose by 28%, compared with the same period a week ago.
By Wednesday, the number of trips had surged by 74% week-on-week, the company said.
Hal Stevenson, Lime’s UK and Ireland director of policy, said the data shows how London workers are using its bikes to “plug the gaps left by public transport”.
“Journeys were longer in both distance and duration, indicating that many riders relied on Lime for their entire commute rather than just the first or last mile,” he said.
Lime has “stepped up operations across the city” to meet the surge in demand, Mr Stevenson said.
“Our driver team has been on standby to keep vehicles in service, whether through fresh batteries or rebalancing overcrowded bays, and we are continuing to increase foot patrols in central London to keep high-demand areas clear.”
The City of London Corporation recently launched a crackdown in response to a number of complaints about e-bikes being left in unsuitable places.
The local authority said in February that more than 100 that were blocking pavements had been seized during a two-week operation.
Business
Federal Reserve board nomination: Senate panel clears Trump pick Stephen Miran; Democrats flag loyalty test risk – The Times of India
A US Senate committee on Wednesday advanced the nomination of President Donald Trump’s choice for the Federal Reserve board, Stephen Miran, despite concerns that he may not resign from the White House even if confirmed.Miran, who chairs the White House Council of Economic Advisers (CEA), cleared the Senate Banking Committee by a narrow 13-11 vote, with Democrats opposing the move, AFP reported. The approval paves the way for his full Senate confirmation, which could allow him to join the central bank’s Federal Open Market Committee (FOMC) in time for its September 16–17 policy meeting, AFP reported.Senator Elizabeth Warren, the top Democrat on the banking committee, criticised the nomination, warning it “sets up an obvious Trump loyalty test.” She argued that Miran’s rate votes could decide whether he is able to return to the White House role once his short Fed term ends.If confirmed, Miran would fill a short-term Fed vacancy lasting slightly over four months until January 2026. At his hearing, Miran said he only intended to take a leave of absence from the CEA during that period but later told lawmakers he would resign if nominated and confirmed for a longer term.Democratic lawmakers issued a letter after his testimony, warning that any decisions he took at the Fed would be seen as an attempt “to satisfy the demands of the President” and safeguard his White House position. Warren also expressed concern that he had not guaranteed to step down at the end of the short term if confirmed.The Fed’s seven-member board of governors holds 12 voting seats on the FOMC, which sets US interest rates. Since cutting rates in December, the Fed has kept policy steady this year while monitoring the effects of Trump’s sweeping tariffs on inflation. Analysts now expect a rate cut next week, citing limited tariff impact on prices but growing weakness in the jobs market.
Former Milwaukee Bucks owner Marc Lasry says he doesn’t believe L.A. Clippers owner Steve Ballmer circumvented salary cap
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