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Alibaba to list on New York Stock Exchange
New York -- China's Alibaba Group Holdings plans to list its shares on the New York Stock Exchange, Bloomberg reported. In a filing on Thursday, the company revealed it will use the ticket "BABA."
Alibaba filed for its IPO in May. The online giant is looking to sell about a 12% stake, the report said. Experts have said it could be the largest U.S. IPO ever. -
Ikea to raise minimum wage for U.S. workers based on cost of living in each area
Conshohocken, Pa. -- Ikea is planning to raise the hourly minimum wage for employees in its U.S. stores by an average 17%, beginning January 1, 2015. In a move unprecedented among U.S. retailers, Ikea’s wage hike will vary in that it will be based on the cost of living in each store’s location. According to Ikea, the change will take the average minimum hourly wage in its existing U.S. stores (as of June 2014) to $10.76, a $1.59 or 17% increase, and $3.51 above the current federal minimum wage.