Amazon said Tuesday that it will stop testing jobseekers for marijuana.
The company, the second-largest private employer in the U.S. behind Walmart, is making the change as states legalize cannabis or introduce laws banning employers from testing for it.
In March, a New York man sued Amazon, saying the company rescinded his job offer at an Amazon warehouse because he tested positive for marijuana, even though the city banned employers from testing job applicants for cannabis in 2020.
Amazon said in a blog post that it will still test workers for other drugs and conduct “impairment checks” on the job. And the company said some roles may still require a cannabis test in line with Department of Transportation regulations.
Seattle-based Amazon also said Tuesday that it will support the federal legalization of marijuana by pushing lawmakers to pass the Marijuana Opportunity Reinvestment and Expungement Act of 2021.
The Federal Reserve on Wednesday evening said its long-awaited digital payment system, the FedNow Service, will start operating in July. The service is designed to provide a national platform for financial institutions to settle payments in real-time and at lower cost. That could include large banks, payment processors, and the U.S. Treasury.
A week after the second-largest bank collapse in U.S. history, Treasury Secretary Janet Yellen is set to tell the Senate Finance Committee that the nation's banking system “remains sound” and Americans "can feel confident” about their deposits.
Kellogg announced last year that it was splitting into two companies, one focused on snacks and the other on cereal. Now it's revealed what those new companies will be called. The cereal business will retain the name Kellogg's, while the snack business will be called Kellanova.
Credit Suisse’s shares have soared 30% after it announced it will move to shore up its finances by borrowing up to nearly $54 billion from the Swiss central bank.
Melissa Armo, founder and owner of The Stock Swoosh, joined Cheddar News to discuss Wednesday's session as stocks closed down amid concerns over a banking crisis and ahead of next week's Fed meeting.
