Welcome back to Tec h Chronicle . If you’re in the marketplace of ideas, this fine newsletter can get it for you wholesale.
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A California bill, AB3262 , would rid us of that riddle, at least when it comes to liability for defective products sold online.
Online marketplaces like have mostly evaded product-liability lawsuits, arguing that they aren’t the retailer or manufacturer and that their true business is providing technology services to sellers. (If this sounds a lot like Uber and Lyft arguing that they’re software companies, not transportation companies, well, read on.)
In case you are keeping track:
China, U.S. far from hitting trade targets for phase one deal - Marketplace
Speakers at the Republican National Convention Tuesday night held up the president’s phase one trade deal with China as a major accomplishment. Secretary of State Mike Pompeo lauded it in his convention speech. U.S. and Chinese officials made a point of having a phone call Monday night to announce their commitment to the deal.
Chad Bown: Well, I think it’s good news, bad news. The good news is there is still a trade deal in effect. So we’ve, you know, stopped imposing tariffs on each other. But the tougher news is that they had set these really large targets for how much China was expected to buy, in terms of U.S. exports, over the next two years. Seven months through 2020, and, you know, we’re only about 28% of the way through what they expected China to buy this year.
Let's take Americans' temperature - Marketplace for August 25, 2020
We might be underestimating our collective flood risk - Marketplace
In late June, the nonprofit research organization First Street Foundation rolled out a national flood risk database , which assesses the likelihood of a flood hitting millions of real estate properties across the U.S.
Now that flood risk factor is available as a risk index rating on Realtor.com. The flood factor is based on a 1 to 10 scale, with 10 being the highest likelihood that water will flood the property.
It’s an important risk factor to include in a potential home purchase, said First Street Foundation founder and Executive Director Matthew Eby. That’s particularly the case because we may be collectively underestimating flood risk on a national level as the existing information collected by the Federal Emergency Management Agency, or FEMA, doesn’t account for the length of time required to pay off your mortgage.
Other things to check out:
Payroll tax cut could mean Social Security benefits run out sooner - Marketplace
President Donald Trump recently issued an executive action that temporarily suspended payroll taxes for employees earning $100,000 and less. The legality and practicality of his executive memorandum is in dispute , and it hasn’t been popular on Capitol Hill.
The bigger worry among many economists is that any move toward lowering payroll taxes during a pandemic recession will put additional financial pressure on Social Security.
David Brancaccio: Clearly Trump did want to cut the payroll tax, at least for a short period of time this fall.
It's Time For E-Commerce Marketplace Reform
A Kroger grocery store sign sits above the entrance to the building in Flowood, Miss., Wednesday, ... [+] June 26, 2019. (AP Photo/Rogelio V. Solis)
This month, Kroger announced that it will offer an extended ship-to-home assortment through a new third-party marketplace offering. In a third-party marketplace model (or "marketplace"), the operator facilitates shopping from many different sellers. The operator of the marketplace does not own the inventory, instead presenting other sellers' goods to the shopper and facilitating the transaction.
Painted Tree Marketplace to open Sugar Land boutique in First Colony Commons | Community Impact
Shoppers will be able to peruse gifts, home decor, clothing, accessories, soaps and candles, among other items, at the new location upon opening. (Courtesy Painted Tree Marketplace)
Now is the chance to help your local community succeed. Become a Patron by contributing to Community Impact Newspaper and gain daily insight into what's happening in your own backyard. Thank you for reading and supporting community journalism.
By Beth Marshall , Hannah Zedaker | 11:27 AM Aug 26, 2020 CDT | Updated 11:26 AM Aug 26, 2020 CDT
Today's Numbers: The COVID Economy - Marketplace
"The leading economic indicator is … the virus." More than one analyst has put it to us this way. As we try to understand and quantify this unprecedented global economic collapse — and now the attempted restart — we're following key metrics for COVID-19 and the broader economy.
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It's been weeks since President Donald Trump signed an executive memorandum that was supposed to get the federal government back into the business of topping up unemployment benefits, to $400 a week . Few states, however, are currently paying even part of the benefit that the president promised. And, it looks like, in most states, the maximum additional benefit unemployment recipients will be able to get is $300.
Happening on Twitter
Firearm sellers are finding new ways to disguise weapon listings after lawmakers called on Mark Zuckerberg to bette… https://t.co/oas7W2A3Zs WSJ (from New York, NY) Tue Aug 25 01:00:19 +0000 2020
Facebook has geo-blocked dissident @PavinKyoto's Royalist Marketplace page, which has more than 1m followers, after… https://t.co/YA0dwCvubd JohnReedwrites (from Bangkok, Thailand) Tue Aug 25 02:09:02 +0000 2020
To the Trump administration's supporters, it may seem like a win to eliminate roadblocks that keep tests, treatment… https://t.co/yKik89WigH nytopinion (from NYC, London, Paris, Hong Kong) Tue Aug 25 06:06:01 +0000 2020
Amazon's anticompetitive nature and dominant share of the marketplace make these repeated reports of bias even more… https://t.co/6C3QcC1ODS RepKenBuck (from Windsor, CO | Washington, DC) Tue Aug 25 16:18:56 +0000 2020
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