Biden administration issues rule that could curb 'gig' work, contracting | Reuters: The rule is widely expected to increase labor costs for industries that rely on contract labor or freelancers, such as trucking, manufacturing, healthcare and app-based "gig" services.
Signature Bank securities vault higher despite questions on recovery - ION Analytics: Heavy trading in debt and equity issued by failed lender Signature Bank continued after a series of asset sales by the FDIC boosted investors’ hopes for recovery. Preferred and common shares jumped, while subordinated notes held steady. However, the outcome of the FDIC’s receivership of Signature Bridge Bank—the successor to Signature Bank—is far from certain and could take years to play out.
Yellow Must Arbitrate $5 Billion in Claims, Pension Fund Says: The Central States Pension Fund asked a federal court for permission to use arbitration go after nearly $5 billion in pension liabilities it said it’s owed by bankrupt former trucking giant Yellow Corp.
SEC Hasn’t Approved Bitcoin ETFs, Says X Account Was Compromised - Bloomberg: The US Securities and Exchange Commission said it had not yet granted approval of spot-Bitcoin exchange-traded funds, and that a post that appeared on the regulator’s official X account was untrue.
Covington Expands Restructuring and Bankruptcy Practice | Covington & Burling LLP: Joseph Dunn and Abigail O’Brient have joined Covington's Restructuring and Bankruptcy Practice as partners in Los Angeles.
