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California Lets Aurora Operate Driverless Cars

PYMNTS

Self-driving vehicle company Aurora has been approved by California regulators to allow passengers rides in its fleet of driverless vehicles, according to reports. The California Public Utilities Commission ( CPUC ) granted the company an official authorization, showcased on the official Aurora website.

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JD Sports Purchases California-Based Shoe Palace

PYMNTS

Overall cash consideration for the purchase of the company is $325 million, which is subject to “customary cash/debt and working capital adjustments,” of which $100 million has been deferred and will be paid on different dates over the 12 months to come. California-based Shoe Palace was started in 1993 by the Mersho family.

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This Sequoia Capital-Backed Neobank Raised $750M To Scale Operations

CB Insights

The round drew participation from Sequoia Capital, Tiger Global Management, General Atlantic, SoftBank Group, and Dragoneer Investment Group. California-based Chime collaborates with regional banks to create member-centric financial products, coining itself as a financial technology firm rather than a bank. Want the full post?

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California Truckers Continue Legal Fight Against Gig Worker Law

PYMNTS

Legislation in California that aims to expand worker protections for so-called gig economy workers has led to a debate in the state’s freight services market and a lawsuit hoping to block the law. New legislation in California, set to take effect in January, was met with resistance from the California Trucking Association (CTA), Yahoo!

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Uber Readies Q3 Earnings As California Voters Give The Firm A Big Boost

PYMNTS

5) just as the company’s stock is soaring on the election victory of Proposition 22, a California referendum to exempt ridesharing companies from the state’s AB 5 gig worker law. Shares of Uber and other gig economy companies were rallying a day after California voters backed Prop 22. London Reprieve.

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Square Capital Distributed 76K PPP Loans Totaling $820M

PYMNTS

Square Capital LLC processed more than $820 million in Small Business Administration (SBA) Paycheck Protection Program (PPP) forgivable loans in six weeks, the firm reported. Last year, Square Capital did $2.3 Of that number, 60 percent of the borrowers had never before received a loan through Square Capital.

Capital 141
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Startups Try To Capitalize On New CA Data Privacy Law

PYMNTS

California has passed the California Consumer Privacy Act (CCPA), a sweeping law that forces companies to tell customers about the data they gather about them, and to allow customers to opt out of those practices. Even the attorney general is still figuring out specifics and probably won’t start enforcing the law until July.

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