The new abortion law in Texas is roiling the business community, prompting some firms to directly interfere with the controversial enforcement mechanism and putting pressure on others to publicly denounce the measure.
Ride-hailing platforms Uber and Lyft decried the statute and said they would cover all legal costs for any of their drivers who get sued for driving a customer to an abortion clinic.
Web hosting company GoDaddy dropped an abortion tracking website that was launched to help enforce the six-week abortion ban, saying it violated the firm’s terms of service. The anti-abortion activists moved the site to another web hosting company, Epik, which promptly shut it down as well.
But as of Tuesday afternoon, only a handful of companies have spoken out against the law. Corporate America has mostly remained silent, despite its vocal opposition to Texas’s restrictive voting bill that was signed into law by Gov. Greg Abbott (R) Tuesday. The Hill’s Karl Evers-Hillstrom tells us why here.
The ‘no-go zone’: “It’s not surprising because this is harder than a number of other issues,” said Sandra Sucher, a professor of management at bans off our bodies arvard Business School. “Abortion is particularly contentious because we know that it relates to people’s religious views, which is kind of a no-go zone for companies.”
Goldman Sachs on Monday revised its U.S. growth forecast amid the nationwide spike in delta variant coronavirus cases, saying consumers will face a “harder path” than previously anticipated going forward.
Company economist Ronnie Walker said in a report to clients that the overall projected expansion for 2021 is now 5.7 percent, down 0.3 percentage points from the 6 percent projection made at the end of August.
“The hurdle for strong consumption growth going forward appears much higher: the Delta variant is already weighing on Q3 growth, and fading fiscal stimulus and a slower service-sector recovery will both be headwinds in the medium term,” Walker said.
Toyota told investors Tuesday that it plans to spend roughly $13.5 billion on developing batteries for hybrid and electric vehicles by 2030 as automakers look to compete in their commitments to reducing carbon emissions in the coming decades.
That’s it for today. Thanks for reading and check out The Hill’s Finance page for the latest news and coverage. We’ll see you tomorrow.
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