Wal-Mart Stores Inc., the largest private employer in the U.S., said it’s looking at supporting an increase in the federal minimum wage, breaking with business and industry groups that oppose such a measure.
In 1914, Henry Ford announced he was more than doubling the average wage of Ford Motor Co. factory workers to $5 a day, in part so they could afford a Model T. His act took the world by surprise, spurred auto sales and helped create an American middle class.
Gap Inc., the owner of Old Navy, Banana Republic and its namesake apparel chain, will raise its hourly pay for U.S. employees to $9 in 2014 and $10 next year, saying it wants to “do more than sell clothes.”
Argentina fined supermarkets including Carrefour SA and Wal-Mart Stores Inc., the world’s largest retailer, for failing to maintain adequate stocks of price-controlled goods after a devaluation of the peso.
U.S. companies, forbidden to give money directly to political action committees, are taking advantage of controversial federal rules allowing them to ask employees to do it for them in exchange for matching charitable donations.