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Report: Bangladesh factories plan minimum wage hike
Dhaka, Bangladesh – Owners of garment factories in Bangladesh are reportedly prepared to raise the minimum wage they pay workers from 50%-80% and ask retailers to pay at least some of the extra cost.
According to Reuters, factory owners have offered a minimum wage of about $46 per month. Workers have requested a minimum wage of about $102 per month, and the government is expected to order an increase in a middle range of $54-$66 per month. Current minimum wage is about $39 a month.
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Report: RadioShack gets loan from GE Capital
New York -- RadioShack has secured a financial boost from GE Capital, securing a loan of about $835 million, according to Marketwatch.com.
The loan, backed by inventory and other existing assets, will help the chain refinance the company's outstanding bank debt and free up cash for its ongoing revamp, the report said.