U.S. companies have no plans on pay raises

U.S. companies say they have no plans to increase pay for workers next year. At least not much.

The finding is based on a survey of 461 companies commissioned by the Conference Board, which provides data on business trends.

According to the report, companies plan to raise their budgets for pay increases by a median of 3% in 2017, the same rate as in each of the last six years.

Instead, the survey found that companies are rewarding performance based bonuses instead of automatic pay increases.

The parents of actor Anton Yelchin are suing Fiat Chrysler over his death.

The Star Trek actor died on June 19 when his Jeep reportedly rolled backward down the driveway due to what they claim is a faulty gear shift.

In fact, the Cherokee model was among a million vehicles recalled in April after regulators said its gear shifters have confused drivers.

Fiat Chrysler extended its sympathies to Yelchin’s parents but said it could not comment on the lawsuit because it had not yet been served with the legal action.

Stocks had their biggest losses in almost a month.

Investors were worried about the health of the economy and sold off car companies, travel companies and retailers.

Bottled water will be more popular than soda for the first time in the U.S. this year, thanks to its convenience — and fears over what’s coming out of the tap.

Bloomberg says Americans have switched from carbonated beverages because their products are calorie-free and as portable as a can of Mountain Dew.

Lead contamination in some cities due to crumbling infrastructure is also driving sales.

And Starbucks is recalling 2 and a half million stainless steel straws because they’re cutting kids mouths.

The Consumer Product Safety Commission says the straws have caused three mouth lacerations.

The straws were sold exclusively at Starbucks locations nationwide and online at Starbucks.com from June 2012 through June 2016 for about $6 per set of three.

For more business headlines from Jane King at the Nasdaq, watch Daybreak Monday through Friday.

Categories: Daybreak, Morning Business Report

Leave a Reply

Your email address will not be published. Required fields are marked *