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Story summary
- The FTC will cease appeals against a court ruling blocking a nationwide ban on noncompete agreements.
- This decision reverses the Biden administration's efforts to invalidate contracts affecting around 30 million workers.
- Former FTC Chair Lina Khan supported the ban, claiming it would enhance wages and innovation.
- A Texas court found the FTC exceeded its authority, prompting the dismissal of appeals.
- Critics contend noncompete agreements limit worker mobility and economic freedom. Public comments are due by November 3.
