Consumer Affairs & Relations

In a move that will directly impact retail and fast-food chains, California legislatures approved a plan to raise the minimum wage to $15 an hour by 2022, which will give the state the highest minimum wage in the nation. The measure will be signed into law on Monday by California Gov. Jerry Brown.

For many business owners, the ongoing feud for control of the Republican Party has largely come, unfortunately, at their expense.

Over the last 10 years or so we have witnessed the balance of power within the party shift from economic conservatives and the business community - to social conservatives and the interest groups that serve them. I have labeled this fight as one between the "suits" and the "boots." Over the last two election cycles, the boots have clearly demonstrated that they are in charge.

There are going to be a lot of happy chickens roaming free in the coming years as retailer after retailer establish dates by which they will offer only cage-free eggs.

Meijer and Supervalu recently announced plans to source only cage-free eggs by 2025, joining Delhaize and Albertson’s who earlier this year set 2025 as their cage-free deadline. Ahold USA earlier this year also indicated it would be cage-free by 2022. Walmart and Costco have also announced cage-free commitments as have some major food suppliers such as Nestle.

Walmart and its financial services partners have added a loyalty component to credit, debit and prepaid card offerings that provide an extra incentive to make online purchase.

When it comes to what keeps retail CEOs up at night, put exchange rate volatility and over-regulation at the top of the list.

That’s according to PwC’s 19th Annual Global CEO Survey, which explores top business concerns of retail and consumer product CEOs.

Of the many different political, social and economic risks businesses face, those that concern retail sector CEOs the most are over- regulation (37% are extremely concerned), exchange rate volatility (36%), an increasing tax burden (33%), and social instability (29%).

New York -- The Howard Hughes Corp. announced that The Momofuku Group will open a new restaurant concept in the revitalized Seaport District in Lower Manhattan.

As it moves to distance itself from the turbulence that marked its past two years, American Apparel Inc. has named three apparel industry executives to its revamped board of directors.

The retailer, which emerged from bankruptcy protection in February, appointed Paul R. Charron, former CEO of Liz Claiborne, as chairman, the Los Angeles Times reported.

Macy’s CEO and other top executives are feeling the pain of the chain’s disappointment financial performance in 2015. The board decided to award no bonuses after the chain fell short of its sales, cash flow and earnings goals, Macy’s said in a regulatory filing, according to Bloomberg. [Bloomberg]