Good morning! Remote job odds in tech decrease, FCC addresses net neutrality with internet providers, and Rite Aid considers closing hundreds of stores amid bankruptcy talks.

BUSINESS

Remote Work Long Shot

The odds of landing a remote job in the tech sector have decreased due to the high demand and limited positions available.

Here's the breakdown:

• The tech sector is experiencing a surge in applications for remote positions.

• Despite the demand, companies are offering fewer remote opportunities.

• The return-to-office (RTO) trend is reducing the number of available remote roles.

• Tech professionals are advised to diversify their skills to increase their chances.

• Hybrid roles, combining remote and in-office work, are becoming more prevalent.

TECH

FCC's Net Neutrality Stance

The FCC is proposing net neutrality rules that would prevent internet providers from blocking or slowing down access to websites.

Here's the breakdown:

• The FCC aims to reintroduce "net neutrality" rules for broadband providers like AT&T, Comcast, and Verizon.

• Proposed rules would classify internet service as "essential telecommunications", similar to traditional phone services.

• Internet Service Providers (ISPs) would be banned from blocking, throttling, or prioritizing certain websites for financial gains.

• The FCC's proposal seeks to restore Obama-era regulations that were rolled back during the Trump administration.

• The proposal emphasizes the importance of net neutrality, especially after the increased reliance on the internet during the Covid-19 pandemic.

BUSINESS

Rite Aid's Bankruptcy

Rite Aid is in talks for a bankruptcy plan that may result in the closure of hundreds of its stores.

Here's the breakdown:

• Rite Aid is actively discussing a potential bankruptcy plan with its creditors.

• The plan under consideration could lead to the liquidation of a significant portion of its 2,100+ drugstores.

• Initial proposals suggest the closure of around 400 to 500 stores during the bankruptcy process.

• The remaining operations might be sold, or creditors might take control.

• The discussions are ongoing, and no final decisions regarding the closures or sales have been confirmed.

APPENDIX

• Auto CEOs earn approximately 300 times more than their median workers, highlighting a significant wage disparity.

• U.S. home prices saw an increase in July, driven by a persistent low supply.

• The business model for developing new antibiotics is flawed, hindering the fight against superbugs.

• The Powerball jackpot has reached $835 million, making it the fourth-largest in the game's history.

• The recent iOS 17 update has caused unexpected changes in some users' privacy settings, prompting Apple to investigate.

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