Minimum wage increase has been a lingering issue in most economies. Part of the battle is determining its effects; however, shortly after Seattle began implementing $15 per hour minimum wage, a new study emerged focusing on increased product prices.
Legal & Regulatory
Judge Rules NYC Responsible Banking Act Unconstitutional as it Conflicts with Existing Federal and State Statutes
A three-year-old law in New York City created to keep tabs on their social efforts to meet the needs of their low-income neighbors was deemed unconstitutional, according to a US federal judge.
Traders and hackers earned $100M on stocks from stealing news
A group of traders and web hackers accumulated over $100M by gaining access to corporate press releases on news websites Market Wired, PR Newswire and Business Wire before the news were published. The hackers have been trading the advance stolen news to Wall Street traders for five years, fed authorities caught on Tuesday.
These are the US cities with higher wage growth than the national average
Cities such as Columbus (Ohio), San Francisco, Louisville (Ky), Virginia Beach (Va) are registering encouraging growth in wages of over five percent while other cities have only 2.1% growth.
New Yorkers thumbs up to $15 per hour wage increase
New Yorkers see no problem in paying more for fast food items just so fast food workers can earn more. Last month, the New York State's wage board approved the much controversial $15 per hour minimum wage for fast food workers and such wage increase would mean an increase of 4.3% in fast food prices.
Latest News
Citigroup's consumer bank has been fined to pay $700milion for its illegal credit card practices. The US Consumer Financial Protection Bureau (CFPB) has observed that Citibank's seven million customer accounts have been charged with misrepresenting costs fees. The consumer finance watchdog has also said that customers were charged for services not rendered to them. CFPB further notes that customers were affected by Citibank's deceptive marketing practices.
Apple and Nike will reportedly settle the claim filed two years ago over a misleading ad about the exact capability of Nike+ FuelBand, offering either $15 cash or $25 gift cards on its stores in the U.S. and Puerto Rico.
U.S. authorities dig deeper into the alleged FIFA financial fiasco, contacting more than half a dozen banks associated to the football corruption scandal.
District 43 assembly member Mike Gatto and Sen. Ted Gaines wrote Senate Bill 167 and 168 intended to penalize drone operators for flying near the wildfire site in Sacramento, California.
New York moved on Wednesday to raise the minimum wage for fast-food workers to $15 an hour by the end of 2018 in New York City and by mid-2021 in the rest of the state.
Oracle Corp (ORCL.N) said its copyright infringement lawsuit against software support services company Rimini Street Inc and the smaller rival's Chief Executive Seth Ravin would go to trial in September.
The Australian state of New South Wales has proposed changing its mining approval process to give greater consideration to environmental concerns, potentially threatening a colliery expansion planned by mining giant Rio Tinto Ltd.
A dozen of the largest Wall Street banks on Monday published detailed plans to show how they would shut down their business during a crisis without the help of taxpayer money, a crucial step to prevent being broken up by regulators.
China froze share offers and set up a market-stabilization fund on Saturday, the Wall Street Journal said, as Beijing intensified efforts to pull stock markets out of a nose-dive that is threatening the world's second-largest economy.
