A New York judge ruled against delivery services Uber, DoorDash (DASH), and GrubHub (parent company Just Eat Takeaway — JTKWY) in their motion to block a minimum wage law. AGCO Corporation (AGCO) takes a $2 billion stake in Trimble (TRMB). Lastly, Endeavor (EDR), Fenway Sports Group, and KKR Founder Henry Kravis are reportedly eyeing investing in the PGA Tour.
Yahoo Finance Live anchor Josh Lipton highlights several of Thursday's top news stories.
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JOSH LIPTON: It's closing time here at Yahoo Finance. Here's a look at some of the top stories and trending tickers of the day. Two major victories for food workers in New York City. A judge ruling against Uber, Grubhub, and DoorDash losing a bid to block a minimum wage law for delivery workers. The law will require companies to pay delivery workers nearly $18 an hour. And in California, Governor Newsom signed legislation that will raise fast food workers pay in the state to $20 an hour starting in April 2024.
And a tie-up in the agriculture sector. AGCO taking a $2 stake in Trimble to boost its offerings in the precision agriculture business and better compete with the industry leader, Deere. Trimble was the top-performing stock on the S&P 500 in today's trade, and tomorrow here on Yahoo Finance, we're going to be hearing from AGCO CEO Eric Hansotia at 3:00 PM Eastern. And some top investors reportedly eyeing a major investment in the PGA TOUR, rivaling the offer from Saudi Arabia's public investment fund.
Bloomberg reporting that endeavor Fenway Sports Group and KKR founder Henry Kravis are all considering investing in the tour. The hope is that Americans will lead an investment deal, but it is possible that they will end up partnering with the Saudis. This follows the shock merger, remember, back in June when the PGA TOUR ended up making a deal with LIV Golf.