The lawsuits and other still remaining alleged that analysts at large underwriting investment banks cut their financial forecasts for Facebook just before the IPO and told only a handful of clients. Facebook and the banks say nothing about its process was illegal.
Obama minimum wage plan renews economic debate
WASHINGTON (AP) â¿¿ President Barack Obama's call to raise the minimum wage to $9 an hour and boost it annually to keep pace with inflation is already getting a trial run. Ten states make similar cost-of-living adjustments, including Washington state, where workers earn at least $9.19 an hour, the highest minimum in the country.In all, 19 states and the District of Columbia have minimum wages set above the federal rate of $7.25, a disparity Obama highlighted in his State of the Union address as he seeks to help the nation's lowest paid workers. Obama's proposal is renewing the age-old debate between advocates who claim boosting the minimum wage pumps more money into the economy, helping to create new jobs, and business groups that complain it would unfairly burden employers and curb demand for new workers. ___ Comcast doubles down on TV in $16.7B deal for NBCU LOS ANGELES (AP) â¿¿ Comcast's $16.7 billion deal to buy the remaining half of NBCUniversal ahead of schedule represents a resounding vote of confidence in the future of TV, even as the growth of Internet video reshapes the entertainment landscape. The decision was driven largely by Comcast Corp.'s belief that it would end up paying substantially more for General Electric Co.'s remaining 49 percent stake if it had waited until 2018, as had been envisioned in 2011 when the nation's largest cable TV provider acquired majority control of NBCUniversal. ___ EU ministers call for emergency meat testing BRUSSELS (AP) â¿¿ European Union nations on Wednesday called for more intensive testing for a month to try to contain the scandal in which horsemeat was sold as beef.