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Abercrombie & Fitch settlement approved
New York -- A federal judge recommended approval of a revised settlement of a lawsuit that challenged the pay of former Abercrombie & Fitch CEO Michael Jeffries. The action comes three months after a different judge rejected a settlement that appeared to offer few benefits to the company and “broadly released shareholders' claims," Reuters reported.
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Minimum wage increases take effect in 20 states
New York -- The minimum wage rose in 20 U.S. states and in the District of Columbia on Jan. 1.
The increase brings the total number of states with a minimum wage above the federal wage floor to 29, according to the New York Times. The federal minimum wage is $7.25 an hour.
Nine states are increasing their minimum wage levels through automatic adjustments for cost-of-living expenses and other economic factors. Increases in the other states occurred through legislative or ballot changes.
