Business Stories of the Week: June 8, 2018

by June 8, 2018

An Arizona court upheld a Phoenix non-discrimination ordinance after the Supreme Court ruled in favor of a baker who refused to make a wedding cake for a same-sex couple. (Photo via Pixabay.com)

Arizona state court upholds Phoenix non-discrimination ordinance

Following the Supreme Court’s decision in favor of a Colorado baker who refused to make a wedding cake for a gay couple, an Arizona court found that a Phoenix non-discrimination ordinance is constitutional and local wedding vendors must serve same-sex couples, the Arizona Capitol Times reports. The Supreme Court made a narrow decision on the Masterpiece Cakeshop v. Colorado Civil Rights Commission, which said the commission was shown to be hostile against the baker for his religious views. The Arizona Court of Appeals, however, cited the recent Supreme Court decision that businesses must provide equal access to goods and services.

Social Security dips into its reserve

Social Security will exceed its income this year, the first time since 1982, which will push the program to obtain funds from its nearly $3 trillion trust fund to cover benefits, the Wall Street Journal reports. The problem lawmakers and the Social Security recipients face is that the trust fund will be running out of money by 2034. Recipients would only receive about three-quarters of their benefits from tax revenues without any changes. There are a number of factors that contribute to the entitlement program’s depleting fund, including the nation’s aging population and lagging revenue gains due to slow economic growth. While Congress is still debating on how to bolster the programs’ finances, anticipated tax revenue into the Social Security program is expected to dip even more with the recent tax cuts bill signed into law last year.

Ticketfly’s site is running again after a data breach

Ticketfly, the event-ticketing company used by many concert venues across the nation, was back online Wednesday night after it suffered a hack that left approximately 27 million users information exposed, reports the Washington Post. Everything from user names, phone numbers, addresses and email addresses connected to the accounts were accessed by hackers. However, users’ financial information such as credit and debit card numbers were not exposed, according to Eventbrite, a company Ticketfly owns. The data breach occurred last week and left many concert venues struggling to find alternative ways to sell tickets over the weekend. This impacted sales for certain concert venues with some venues resorting to selling tickets in person.

Honolulu lawmakers want to cap surge prices for ride-hailing companies

Lawmakers in Honolulu approved a measure that would limit how much Uber, Lyft and similar services can charge at certain times of high demand, reports the Los Angeles Times. The bill now goes to the mayor, who has 10 days to sign into law, veto or allow it to become law without a signature. Honolulu is the first city in the U.S. to target surge pricing, which increases ride fairs during periods of high demand such as during concerts, events and bad weather. The ride-hailing companies are suggesting that if the measure passes it would affect business by limiting availability of their drivers.