Investors are rushing into the relative safe haven of the bond market, causing the yield on the U.S. 10-year Treasury to plummet.Real Estateread more
President Donald Trump on Thursday directed the U.S. intelligence community to "quickly and fully cooperate" with Attorney General William Barr's investigation into the...Politicsread more
Markets in Australia and Japan looked set to open slightly lower as investors worried over trade tensions between the U.S. and China.Asia Marketsread more
Wall Street is becoming convinced that both the White House and Beijing are willing to engage in a protracted trade war that could begin to hit consumers and slow global...Market Insiderread more
Stocks fell sharply on Thursday as investors started to fear the U.S.-China trade war is slowing the economy.Marketsread more
"The last thing I want is to put a date out there for lifting the grounding," said Dan Elwell, acting administrator for the FAA.Transportationread more
The charges allege he published secret documents obtained by former Army intelligence analyst Chelsea Manning, some of which included the disclosure of foreigners who were...Politicsread more
TransferWise, the money transfer start-up, was valued at $3.5 billion after investors bought $292 million of shares in a secondary sale.Technologyread more
See which stocks are posting big moves after the bell on Thursday, May 23.Market Insiderread more
Sentiment is "not negative enough to trigger a huge rally ... unless we get some kind of real breakthrough with China," Jim Cramer says.Mad Money with Jim Cramerread more
Oracle co-founder Larry Ellison disclosed a $1 billion stake in Tesla in late December. It's now worth about $580 million.Technologyread more
"Today I challenge our top retail competitors (you know who you are!) to match our employee benefits and our $15 minimum wage. Do it! Better yet, go to $16 and throw the gauntlet back at us. It's a kind of competition that will benefit everyone," Bezos wrote in his annual letter to shareholders, filed with the Securities and Exchange Commission.
Target just last week said it would be increasing its its minimum hourly wage by a dollar, to $13, in June, part of its already announced goal to hit $15 an hour by the end of 2020.
Target's minimum is higher than Walmart's $11 an hour, set in January 2018, but is still below Amazon's, which was hiked to $15 in November. Walmart has said its average worker earns $17.55 an hour with wages and benefits.
Target declined to comment further beyond its recent announcement.
Walmart's EVP of Corporate Affairs Dan Bartlett responded to Amazon's challenge by sharing an article on Twitter Thursday morning about Amazon paying $0 in federal taxes on more than $11 billion in profits last year. He wrote: "Hey retail competitors out there (you know who you are) how about paying your taxes?"
With U.S. unemployment at its lowest level in nearly 50 years, retailers have been finding it more difficult to attract skilled workers, and so raising pay is one way they hope to be more competitive in the marketplace for talent. Some of these companies have also received criticism in the past for poor pay and unhealthy working conditions. Amazon has faced protests from some of its Prime Air pilots and outside activist groups in the past, for example. And on Thursday, pilots for Atlas Air, Southern Air, and ABX Air — carriers that power Amazon Air — are expected to protest.
In addition to hiking pay, companies including Target and Walmart are also adding other perks like extra parental leave, special training programs and educational opportunities. Walmart even eased its dress code to allow staff in stores to wear blue jeans. Bezos on Thursday talked about Amazon's "Career Skills" program, as an incentive, that trains hourly workers on how to build out their resumes, use a computer and "communicate effectively."
Meantime, House Democrats are championing a bill to raise the federal minimum wage to $15 an hour, from $7.25, but it's unlikely to pass. Six states have approved laws phasing in a $15 minimum wage. The District of Columbia has the highest minimum wage at $13.25, and it's set to rise to $14 an hour on July 1.
— CNBC's Amelia Lucas contributed to this story.