NY Governor vetoes noncompete ban bill after opposition from health, business groups -

Kathy Hochul vetoed a bill passed by both houses of the NY legislature in June that would’ve imposed bans of non-compete clauses in employment contracts. The measure faced significant push back from Wall Street and business groups, as well as from the healthcare sector, who say noncompete agreements prevent rivals from poaching top talent. The governor says the bill went too far in that it included all employees, adding she favors a more limited law that covers lower-wage workers. Last-minute negotiations to agree on a wage threshold for the bill failed, leading to Hochul’s veto. It’s expected the measure will be reintroduced by the Democrat-led state legislature this year.