In a step to address the country’s rising income inequality, Sen. Bernie Sanders is proposing a new tax on large companies whose chief executives earn far more than their workers. The proposal, which the Vermont independent and Democratic presidential candidate...
Bank of America said Tuesday it will raise its minimum hourly wage to $20 over two years. Starting May 1, pay for 22,000 employees at the financial giant will increase to $17 before rising to $20 in 2021. The announcement comes a day before Bank of America chief...
Wall Streeters are still getting rich: The average bonus paid to securities industry employees in 2017 came to $184,220, up 17 percent from the year before, according to an estimate by the New York State Comptroller. Bonuses were fueled by a surge in profits....
Taxes may be inevitable, but how businesses and workers react to the tax code isn’t always predictable. Take President Donald Trump’s pledge this week to cut corporate taxes to 15 percent from their current 35 percent. In a speech in Missouri on Wednesday,...
The seven nations that President Donald Trump put on the travel ban list possess a common trait: They don’t have Trump properties. They also tend to be poor and mostly unstable. Another quirk is that it’s unclear if Mr. Trump’s business will embark on more real estate...
Wells Fargo (WFC) has long touted its commitment to customers, with CEO John Stumpf noting a few years ago that it wants people to “see us as trusted financial advisers.” But that reputation could be in jeopardy given the bank’s recent financial penalties for abusive...
Corporate chief executives have come under fire in recent years for their skyrocketing pay. But there’s a place that puts those executives to shame: academia. College presidents on average earn $377,261 annually, or more than twice the average pay for CEOs, who...
The U.S. Securities and Exchange Commission on Wednesday voted 3-2 in approving final rules that require public corporations to disclose the ratio of CEO pay to the median worker. … “This new ratio information will make it easier to ensure that our tax...
The U.S. Securities and Exchange Commission on Wednesday is expected to adopt final rules requiring disclosure of the ratio of CEO pay to the median worker at publicly held companies. … “It is such a simple regulation, you’d think it would have been...
In the increasingly divided world of the haves and have-nots, nothing may better illustrate the widening gulf than Wall Street bonuses. The financial industry handed out $28.5 billion in bonuses last year, or an average payout of $172,860 to bankers and other...
Obamacare is known for overhauling how millions of how Americans buy health insurance, but it is also quietly having an effect on another key aspect of health care costs: executive pay. That’s because the law includes a little-known rule that puts a $500,000 cap...
