The Federal Trade Commission, a US regulator, on Thursday proposed to ban non-compete clauses stating that employer restriction suppresses wages artificially for workers who are interested in changing employments.
The proposal would bar businesses from signing non-compete agreements with employees and the employers will have to rescind any such existing clauses.
As per the FTC, around 30 million Americans are currently working under such agreements. It stated that the proposal can increase the wages of employees by around $300 billion per year.
Law enforcement officials investigating Elon Musk's Neuralink Corp over its animal trial programme are also scrutinising the US Department of Agriculture’s oversight of the company's operations, after the agency failed to act on violations at other research organizations, according to several people familiar with the matter.
The U.S. Securities and Exchange Commission (SEC) said on Tuesday it will add 20 positions to its enforcement unit for crypto markets in its push to curb fraudulent activities in the hot digital space.
The Office of the Comptroller of the Currency on Thursday said flagship crypto bank Anchorage Digital Bank National Association violated rules for monitoring for suspicious activity and preventing money laundering.
Stocks declined on Thursday morning after Chinese manufacturing contracted in March and the US regulator said it was far from reaching a deal on the delisting status of China’s offshore companies.