Economy

Singapore’s Gig Economy Workers Face New Financial Challenges: Rising Living Costs Drive Increase in Essential Loans

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Singapore, Singapore – In a recent study by fintech firm Lendela, it has been revealed that platform workers in Singapore, encompassing delivery riders and private-hire drivers, are gradually improving their debt management skills. Notably, debt consolidation, which once led the reasons for borrowing among these workers, has dropped by 15 percent over the past two years. Despite these improvements in financial handling, the persistent rise in living expenses continues to challenge these individuals, shifting the borrowing trend towards covering daily living costs. According to Lendela’s findings, more than a third of delivery riders and approximately … Read more

Former Judge Arthur Hunter Launches New Orleans Mayoral Bid, Vows to Tackle Crime and Boost Economy

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New Orleans, LA — Arthur L. Hunter, Jr., a former judge at the Orleans Parish Criminal Court, has entered the mayoral race in New Orleans, bringing with him a platform focused on enhancing public safety and promoting economic development. Hunter, who also has experience as a New Orleans police officer, officially filed his candidacy paperwork, indicating a serious bid to tackle the city’s pressing issues. Before announcing his candidacy, Hunter engaged with over 300 local citizens and community organizations to gauge public concerns and aspirations. His previous attempt to secure a political post was in … Read more

Billions at Stake: How Mass Tort Litigation and External Funding Drain the U.S. Economy and Clog the Courts

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Washington, D.C. – The landscape of mass tort litigation in the United States, a critical but complex facet of the judicial system, is facing criticism for its failure to fairly compensate victims while draining economic resources. The mass tort mechanism, often involving multi-district litigation (MDL), was created to streamline large civil lawsuits through consolidation. However, instead of fostering efficiency, it has morphed into a lucrative opportunity for lawyers and their financial backers, overshadowing its initial purpose. In recent years, these litigations have disproportionately clogged the judiciary, making up 65% of federal civil cases in 2023, … Read more

Mexico Revolutionizes Gig Economy: New Federal Law to Fortify Labor Rights for Digital Platform Workers

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Mexico City, Mexico – Mexico has introduced significant reforms to its Federal Labor Law targeting digital platforms, reshaping employment conditions and rights for gig economy workers. Published on Dec. 24, 2024, the amendments, which will go into effect 180 days later, aim to standardize labor conditions, ensuring those employed in this sector receive comparable protections to other workers like social security, profit-sharing, and union rights. The newly introduced Chapter IX B of the Federal Labor Law establishes specific regulations for gig economy platforms, detailing provisions for digital contracts, work schedules, salary calculations, and algorithmic transparency. … Read more