Ruling on overtime rule fuels uncertainty for businesses
The court halted the rule that would have expanded overtime pay, delaying changes many firms already started to implement. Wal-Mart boosted entry level managers while others, like Opportunity Village and Colorado restaurants, adapted by shifting salaried staff to hourly. Trump’s incoming administration faces options to modify or suspend the rule amid industry and worker pushback.
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Billionaire investor Ross named possible commerce secretary
Wilbur Ross, a financier famed as the king of bankruptcy, emerged as Donald Trump’s pick for commerce secretary. Forbes valued him near 3 billion dollars and his career spans Rothschild banking, corporate turnarounds, and building W L Ross into a fixer of distressed manufacturing companies.
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