Obama signs memo to boost overtime pay rules
President Obama signed a presidential memorandum directing the Labor Department to craft new overtime rules to extend time and a half pay to more workers. The plan would set wage thresholds and redefine supervisory duties, with a proposed rule expected in the fall and no new salary level specified yet.
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GE Plans Spin Off of North American Consumer Lending Unit
General Electric moves ahead with an initial public offering for its new unit Synchrony Financial to be listed this year. It estimates proceeds up to 100 million dollars for filing fee calculations, but did not specify shares or price.
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Chrysler recalls 49000 Chargers over headlight wiring issue
Detroit authorities say 2011 2012 Dodge Charger models with halogen lamps face a recall for overheated connectors that can disable low beam headlights. US 43450 Canada 2850 Mexico 375 outside North America 2700. Chrysler offers free inspection and replacement of wiring bulbs and assemblies if needed. Six lines later Grace recalls add 403000 child seats due to buckles risk and NHTSA seeks 1.8 million infant seats.
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Amazon raises Prime price to 99 a year for two day shipping
Amazon raises Prime annual fee to 99 dollars citing higher shipping costs and expanded two day shipping and streaming. Analysts note mixed investor reaction and potential impact on member loyalty with tens of millions of members worldwide.
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