California would soon have one of the highest minimum wages in the US at USD 10 an hour. The minimum wage of California was slated to rise to USD 10 per hour in the next three years.
Industry
Polls show many people still struggling after recession officially ends
According to two surveys conducted by Gallup Inc, Americans had been struggling to recover financially even after the US recession was finally announced to have officially ended.
Low-wage social contract creates protest from fast-food workers
Thousands of fast food workers organized protests to demand higher wages after US federal minimum wages were said to be almost always without benefits.
EU agency to manage weak banks and deep debts to be set up post-German elections
The Bank Recovery and Resolution Directive for all EU members to recognize the Single Resolution Mechanism would be created after the German elections.
SEC meets to discuss Nasdaq system backup for processor
US regulators met with the stock exchange operators to talk about backing up the Nasdaq stock quotes processor which malfunctioned last month.
Latest News
Two Republican lawmakers questioned the time and resources spent by Securities and Exchange Commission in monitoring private equity funds.
A Reuters report said the growing number of equity issuance this year was a sign of positive growth.
Renowned Middle Eastern scientist Hayat Sindi called for more investments in the field of science and technology to foster inventive spirit and innovation.
Citing sources who were familiar with the matter, the Financial Times reported that Shanghai has approved six foreign hedge funds to raise money from investors within China.
Tax avoidance systems in EU member countries are to be investigated by EU. An investigation is to be conducted by the European Union on Ireland, Luxembourg and the Netherlands for allegations these countries gave multinationals favorable tax deals over and above the EU's anti-competition rules.
Japan was said to be studying the possibility of giving a USD 50 billion economic stimulus package to cushion the possible drag of its planned tax hike, sources told Reuters.
Pandora chief executive Brian McAndrews's first and the most difficult task would be to renegotiate royalty fee payments to the music industry in order to lift the struggling company's finances.
EU submits a list of proposals aimed to improve the EU telecommunications industry. In its newest attempt to overhaul the European Union's telecommunications industry, a proposal to place a price cap on cross border phone calls in Europe was made.
Because of the still too expensive low cost iPhone 5C, the share values of Japanese suppliers fell in the market.
