Daily Headlines May 1, 2024
We scan major news sources* and compile selected articles to keep you up-to-date on current issues affecting California business – the economy, health care, environment, transportation and more. Receive Daily Headlines by Email
Today’s Top Story
3 Job Killer Bills to Be Heard in Assembly Committee Today
Two labor-related California Chamber of Commerce job killer bills and one environmental-related job killer bill are scheduled to be heard in the Assembly Appropriations Committee today.
Top California News
- Calstrs Reveals Problems Calculating Carbon Footprint of its $331bn Portfolio
Calstrs, one of the world’s largest pension plans, has had to delay publication of its 2023 climate report after discovering inaccuracies in the way it was calculating the carbon footprint of its $331bn portfolio. The giant California public pension plan has now said it will not release its 2023 carbon emission data until 2025. Financial Times (Subscription required)
- Joby Expands Early eVTOL Aircraft Production Line
Joby Aviation this week started construction to expand the Pilot Production Line for its four-passenger eVTOL aircraft. When completed next year, the work will more than double the capacity of the site at Marina Municipal Airport in California. AIN Online (No subscription required)
- California’s Large Budget Deficit Looms for Gavin Newsom. Why It May Be Getting Worse
…The year-to-date personal income tax receipts made up $3.4 billion of the overall shortfall, the bulletin reported. Year-to-date corporation tax receipts were $1.4 billion below forecast, and sales tax receipts were down $1 billion.The Department of Finance will not release any new budget numbers until Newsom presents his updated spending plan. The Sacramento Bee (Subscription required)
- Restaurant Surcharges Will Soon Be Illegal in California
…Starting July 1, under SB478, California restaurants will no longer be able to charge service fees — which have become an increasingly common tool to sustain higher wages for workers as food businesses move away from tips — and must instead fold them into menu prices, the attorney general’s office said. The law applies to all fees other than taxes, the attorney general’s office said, including other surcharges restaurants use to offset costs, such as San Francisco’s ordinance requiring businesses to provide health care or credit card processing fees. San Francisco Chronicle (Subscription required)
- New Battlegrounds Emerge in California’s Endless Housing Conflict
California’s perpetual political war over housing, pitting the state against local communities, has two new battlegrounds: one on the San Francisco Peninsula, the other in Southern California. Dan Walters in CalMatters (No subscription required)
- Evan Low Leads Joe Simitian by Four Votes as Santa Clara County Finishes Recount. Here’s Why He Hasn’t Won Yet.
After an astonishing eight-week saga of counting and recounting more than 182,000 ballots, Assemblymember Evan Low emerged on top Tuesday — ahead of Santa Clara County Supervisor Joe Simitian by just four votes in their race for second place in California’s Congressional District 16. But it’s not over yet, as more than a dozen challenged ballots are still up in the air in San Mateo County. The San Jose Mercury News (Subscription required)
Top National, International News
- US Job Openings Fall to 8.5 Million in March, the Lowest Level in More Than 3 Years
U.S. jobs openings slid in March to the lowest level in more than three years, but stayed at historically high levels in a sign that the job market remains resilient in the face of higher interest rates. The Associated Press (No subscription required)
- Do Your Snacks Need a Warning Label?
…As part of the government’s quest to improve American eating habits, the Food and Drug Administration is considering requiring food manufacturers to put new labels on the front of packages. The labels might flag certain health risks, such as high levels of salt, sugar or saturated fat. The Wall Street Journal (Subscription required)
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