Verizon Reaches Deal with Striking Union Workers, Includes Pay Raises

Nearly 40,000 striking Verizon workers will return to their jobs Wednesday after reaching a tentative contract agreement over the Memorial Holiday Weekend.
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Nearly 40,000 striking Verizon (VZ) - Get Report workers will return to their jobs Wednesday after reaching a tentative contract agreement over the Memorial Holiday Weekend. The Communication Workers of America say the new deal includes 1300 new call center jobs, nearly 11% in raises over 4 years and the first contract for Verizon wireless store workers. The CWA called the deal a victory for working families. Crude oil prices are quiet as investors wait for cues from OPEC on oversupply. OPEC meets Thursday and will discuss what to do with oil production after prices hit $50 a barrel last week. Oil prices have doubled since hitting lows over the winter. Viacom's (VIA) - Get Report board is preparing for a fight with the Redstones. The Wall Street Journal says board members are anticipating their ouster and and will argue that former Chairman Sumner Redstone doesn't have the mental competency to act of his own free will.