Supreme Court ruling impacts the enforcement power of federal agencies

Jane King 07/01/24

INDIANAPOLIS (WISH) — Here is a look at Monday’s business headlines with Jane King where she discusses the Supreme Court’s latest ruling, the school-to-job pipeline and more.

Supreme court overturns ‘Chevron deference’

The Supreme Court overturned the “Chevron deference”, a 40-year-old precedent that prioritized federal agencies’ interpretations of unclear statutes, often in cases involving environmental regulations.

The court also limited the Securities and Exchange Commission’s use of internal tribunals to discipline suspected fraudsters. Opponents say that the ruling could significantly determine the enforcement power of other federal agencies.

Earlier, the court reversed a settlement that would have freed the family behind Oxycontin maker Purdue Pharma from future legal liability in opioid claims.

JPMorgan Chase CEO says school-to-job pipeline is broken

Jamie Dimon, JPMorgan Chase CEO, says America’s school-to-job pipeline is broken.

Dimon told Axios businesses have to hire a lot of people and they have to train them, so when the school system doesn’t do it, it makes this harder for companies.

American schools, businesses and cities are failing to help younger workers and underrepresented communities prepare for and land well-paid jobs, he says, and they should change their focus to teaching ore skills.

Doctors are using the Apple Watch to help patients

Doctors are using the Apple Watch as part of how they diagnose and help patients manage disease, even though it has not been specifically approved for such practices by the Food and Drug Administration or other regulatory bodies.

The Wall Street Journal reports there’s a large and growing body of research on how the Apple Watch is being used informally in medical care, despite other approved devices being available to track the same metrics.

The report says many other doctors are telling their patients to go out and buy an apple watch to alert them to episodes of atrial fibrillation.

Nike stock falls due to sales forecast

Nike had a dismal sales forecast. That sent its stock down 20% the biggest one day drop on record.

In response, Nike will start selling some sneakers at $100 or less.

Costco customers calling new chicken packaging foul

Some Costco customers are calling the chicken packaging foul after the retailer changed the packaging of its mega-popular rotisserie chickens.

Previously, the rotisserie chickens were packaged in a plastic clamshell container. Now, in what the warehouse club says is an environmentally friendly move, the rotisserie chickens are sold in plastic food service bags.

Customers say the bags are leaky.