Unions, Wal-Mart reach deal on Chicago store

Chicago Wal-Mart Stores got the green light to build a second store in Chicago when the city council's zoning committee approved the project.

Thursday's vote came after Chicago union leaders said they had agreed to a deal with Wal-Mart that would bump pay above minimum wage at the new store, which is planned for the city's South Side. The go-ahead also comes days after the chain announced it hopes to build dozens of stores in Chicago during the next five years.

The Chicago Federation of Labor says starting Wal-Mart workers will be paid $8.75. Illinois' minimum wage is slated to increase from $8 to $8.25 on July 1.