Whole Foods plans to cut medical coverage for part-time workersPosted: Updated:
Here's the latest business headlines from Cheddar.
Whole Foods is cutting medical coverage to nearly 2,000 part-time workers. As of next year, employees of the Amazon-owned grocer will need to work 30 hours a week, up from 20 hours, to qualify for its health care plan. Whole Foods says it is trying to create a "more equitable and efficient scheduling model," but draws a stark contrast from the "conscious capitalism" ethos promoted by founder John Mackey. There is no word yet from Mackey about this cut to employee benefits.
Payment processor Square is reportedly experimenting with offering no-fee stock trades on its popular Cash App. The feature would compete directly with apps like Robin Hood, letting users buy and sell stocks without fees. Bloomberg says the company is testing the service internally. Square's Cash App started as a way to send money between friends and has expanded into debit cards and even bitcoin trading.
Scientists at MIT developed a material 10 times blacker than anything previously reported and used it to coat a diamond. The material uses a microscopic forest of vertical carbon nanotubes to absorb light. The material makes materials a black so deep that normally brilliant surfaces appear as a flat black void. The material can be used in instruments like telescopes, where reducing extra light is ideal.