Trump said he doesn't see a recession after the bond market spooked investors and the Dow suffered its worst day of the year last week.Marketsread more
The U.K. prime minister prepares to meet his German and French counterparts this week.Europe Politicsread more
Amazon is raising seller fees for thousands of small and medium-sized businesses in France because of a new digital tax passed by the French government.Technologyread more
U.S. stock index futures point to a higher open on Monday morning as the White House sought to calm investors over growing concerns about the U.S. economy.US Marketsread more
Ahead of the deadline, U.S. President Donald Trump told reporters that Huawei was a national security threat.Technologyread more
Bianco Research's James Bianco suggests Wall Street is desperately looking for a signal that a 50 basis point cut is coming next month.Trading Nationread more
Baidu is gearing up to release its second-quarter earnings on Monday with the market expecting a sharp decline in profit.Technologyread more
Americans now say they approve of free trade by 64%-27%, a margin of better than two to one. That's up from 57%-37% early in Trump's presidency, and 51%-41% near the end of...Politicsread more
Stocks in Asia rose on Monday as U.S. Treasury yields bounced higher after plunging last week.Asia Marketsread more
The problem with tanking equities lies elsewhere, writes Michael Ivanovitch, because traders see no end to America's unfolding trade disputes with Europe and China.World Economyread more
Beijing wants to use reforms to support a slowing economy.China Marketsread more
Facebook said it's raising the minimum wage it pays to thousands of contract workers around the U.S., acknowledging that the current $15 hourly minimum, which has been in place since 2015, is insufficient given the rising costs of housing in many markets.
"It's become clear that $15 per hour doesn't meet the cost of living in some of the places where we operate," Facebook said in a blog post on Monday.
The company said it will now pay $20 per hour for contractors in the San Francisco area, New York and Washington, D.C., and $18 an hour in Seattle. The announcement could serve to position Facebook favorably in relation to Amazon, which said last year that it was implementing a $15 hourly minimum, and Google, which said in April that its non-employee workforce is entitled to at least $15 an hour.
Facebook can use the public relations boost after an expose by The Verge earlier this year showed the harsh working conditions of Facebook content moderators in Phoenix. Workers there said they suffered from post-traumatic stress disorder, could be easily fired and made as little as $28,800 per year.
As part of Monday's announcement, Facebook said it will add more support for people tasked with reviewing content. Those workers, who review whether a piece of content is in compliance with Facebook's community policies, will make a minimum of $18 per hour across the country and up to $22 in the Bay Area, New York and Washington, D.C. These changes will be implemented by mid 2020, the company said.
Facebook will also allow moderators to blur graphic images before reviewing them, and the company is providing access to on-site counseling at all times.