Court sides with Starbucks in union tiff

The Supreme Court has made it harder for the federal government to win court orders when it suspects a company of interfering in unionization campaigns in a case that stemmed from a labor dispute with Starbucks. The justices on Thursday tightened the standards for when a federal court should issue an order to protect the jobs of workers during a union organizing campaign. The court rejected a rule that some courts had applied to orders sought by the National Labor Relations Board in favor of a higher threshold, sought by Starbucks, that must be met in most other fights over court orders, or injunctions.

States bet on boosting taxes for online betting

States are looking to increase their take from the $16 billion online sports gambling industry as it expands across the country with big partnerships. DraftKings, FanDuel and other betting apps are facing a bigger tax hit in Illinois following changes to tax policy this year. New Jersey is considering doubling its tax rate. A proposal to boost Massachusetts’ rate failed in May. All sports wagering revenue in the U.S. jumped 22% to $3.33 billion in the first quarter of 2024, according to the American Gaming Association.

Biden to nominate Romero as FDIC chair

President Joe Biden will nominate Christy Goldsmith Romero to replace Martin Gruenberg as head of the Federal Deposit Insurance Corporation. The announcement from the White House Thursday came after Gruenberg’s tenure became marred by allegations of workplace abuse that led to him to resign. Goldsmith Romero is currently a commissioner at the Commodity Futures Trading Commission, the nation’s financial derivatives regulator. Gruenberg last month said he would resign from the FDIC after an independent report by a law firm found incidents of stalking, harassment, homophobia and other violations of employment regulations, based on more than 500 complaints from employees.

Mortgage rates ease for second week

Mortgage rates eased again this week, though the latest pullback leaves the average rate on a 30-year home loan at close to 7%, where it’s been much of this year. The rate fell to 6.95% from 6.99% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged 6.69%. Mortgage rates are influenced by several factors, including how the bond market reacts to the Federal Reserve’s interest rate policy and the moves in the 10-year Treasury yield, which lenders use as a guide to pricing home loans. Yields eased this week following economic data showing slower growth.