The Los Angeles City Council gave preliminary approval on Tuesday to raise the hourly minimum wage to $15 an hour by 2020 for companies with more than 25 employees, while giving smaller businesses an extra year to meet that benchmark
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Racing team success could be winning formula for Ferrari IPO
Ferrari's timely return to the front row of the Formula One grid bodes well for the luxury sportscar maker as it prepares to list shares and split from parent Fiat Chrysler Automobiles. (FCHA.MI) (FCAU.N)
Yahoo shares plunge on report IRS considering spin-off rule changes
Shares in Yahoo Inc (YHOO.O) fell 7.6 percent on Tuesday, as the stock sold off dramatically in the last 20 minutes of the trading day on worries that a potential change in U.S. tax regulations would affect Yahoo's expected spinoff of its stake in Alibaba Group Holding Ltd (BABA.N).
U.S. seen growing 0.7 percent in second quarter after data: Atlanta Fed
The United States was on track to expand 0.7 percent in the second quarter after data showed domestic housing starts surged to their strongest level in about 7-1/2 years in April, Atlanta Fed's GDPnow forecast model showed on Tuesday.
Equities gain, euro slumps as ECB eyes faster bond buys
U.S. and European equities rose to trade near record highs on Tuesday, and the euro tumbled on signals the European Central Bank may accelerate its 1 trillion euro bond-buying program over the next two months.
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International automakers are slashing prices for vehicles they sell in China in response to a slowdown in demand that threatens the industry's rich profit margins.
Hewlett-Packard Co (HPQ.N) has agreed to sell a controlling 51 percent stake in its China-based data-networking business, estimated to be worth more than $2 billion (1 billion pounds), to Tsinghua Unigroup, a spokesperson for the Chinese private equity fund's parent company said on Tuesday.
Sumitomo Mitsui Banking Corp and the Development Bank of Japan are set to take a combined 33.4 percent stake in bankrupt budget carrier Skymark Airlines Inc (SKALF.PK), giving them veto power over major decisions, sources familiar with the plan said.
Russia avoided further diplomatic confrontation with Ukraine and the European Union at three-way trade talks on Monday and did not renew previous demands for Kiev's duty-free deal with the bloc to be put on hold.
Brent crude oil fell below $66 a barrel on Tuesday as the dollar strengthened and on evidence of ample supplies of Middle Eastern oil despite wars in northern Iraq, Syria and Yemen.
Wal-Mart Stores Inc (WMT.N) reported lower-than-expected quarterly U.S. same-store sales growth, saying its customers were using their tax refunds and savings at the pump to pay down debt rather than spend on discretionary items.
Apple Inc had scrapped plans of introducing an ultra-high-definition television set more than a year ago, Wall Street Journal said citing sources familiar with the matter.
Chinese policymakers on Monday announced guidelines for reform priorities in 2015, ranging from streamlining administrative procedures to boosting the yuan's global role, as Beijing steps up efforts to open up the country's capital markets.
The dollar's four-week decline and a slump in bond prices has upset some assumptions about where global financial markets are heading, but haven't deterred most investors from staying faithful to their bets.
