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  4. U.S. business lobby group lambasts FTC over proposed ban on non-compete clauses
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U.S. business lobby group lambasts FTC over proposed ban on non-compete clauses

(Reuters) - The U.S. Chamber of Commerce criticized on Thursday a proposed rule of the Federal Trade Commission (FTC) that seeks to ban companies from having non-compete clauses...
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U.S. business lobby group lambasts FTC over proposed ban on non-compete clauses © Reuters. FILE PHOTO: Signage is seen at the Federal Trade Commission headquarters in Washington, D.C., U.S., August 29, 2020. REUTERS/Andrew Kelly/File Photo

(Reuters) - The U.S. Chamber of Commerce criticized on Thursday a proposed rule of the Federal Trade Commission (FTC) that seeks to ban companies from having non-compete clauses with workers, saying such a move would harm economic growth and limit competition.

The FTC proposed the rule last week that would ban companies from requiring workers to sign non-compete provisions in contracts, in the latest sign from the Biden administration of its support for labor.

Companies generally use these provisions to keep workers from leaving for better jobs.

"It is not the role of government to direct the behavior of business, redistribute power in our economy, or undermine the competition that fuels free enterprise," the largest U.S. business group's President Suzanne Clark said at the State of American Business event.

The Chamber also said it could mount a legal challenge.

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01-05-2024 10:45:17 (UTC+7)

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EUR/USD

1.0658

-0.0008 (-0.07%)

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GBP/USD

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USD/JPY

157.91

+0.12 (+0.07%)

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AUD/USD

0.6469

-0.0003 (-0.05%)

Summary

Neutral

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USD/CAD

1.3780

+0.0003 (+0.03%)

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 EUR/USD1.0658↑ Sell
 GBP/USD1.2475↑ Sell
 USD/JPY157.91↑ Buy
 AUD/USD0.6469Neutral
 USD/CAD1.3780↑ Buy
 EUR/JPY168.32↑ Buy
 EUR/CHF0.9808Neutral
 Gold2,295.80↑ Sell
 Silver26.677↑ Sell
 Copper4.5305↑ Buy
 Crude Oil WTI81.14↑ Sell
 Brent Oil85.62↑ Sell
 Natural Gas1.946↑ Sell
 US Coffee C213.73↑ Sell
 Euro Stoxx 504,920.55↑ Sell
 S&P 5005,035.69↑ Sell
 DAX17,921.95↑ Sell
 FTSE 1008,144.13Sell
 Hang Seng17,763.03↑ Sell
 Small Cap 20001,973.05↑ Sell
 IBEX 3510,854.40Neutral
 BASF49.155↑ Sell
 Bayer27.35↑ Sell
 Allianz266.60↑ Sell
 Adidas226.40↑ Sell
 Lufthansa6.714Neutral
 Siemens AG175.90↑ Sell
 Deutsche Bank AG15.010Neutral
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