NEW YORK (AP) — Stocks are higher on Wall Street amid speculation over the next step in the U.S. trade dispute with China. Information technology and consumer staples are leading the gains, while health care and utilities stocks are trailing behind.
ELIZABETH, N.J. (AP) — New Jersey Gov. Phil Murphy has signed into law a measure that raises the hourly minimum wage to $15 an hour over the next five years. The bill raises the current $8.85 minimum wage to $10 an hour in July, and then increases the rate by $1 in subsequent years until it reaches $15 in 2024. New Jersey becomes the fourth state, along with the District of Columbia, to enact a phased-in $15 minimum wage. California, Massachusetts and New York have adopted similar proposals.
DETROIT (AP) — General Motors is starting to lay off about 4,300 white-collar workers worldwide this week. In November, the company said it wanted to cut 8,000 salaried and contract workers so it can raise profit margins and invest more in autonomous and electric vehicles. The company says 2,200 white-collar employees took buyouts, while another 1,500 contract workers were let go. Many of the layoffs will happen at GM's technical center near Detroit.
CHICAGO (AP) — O'Hare International Airport in Chicago was the busiest airport in the U.S. last year, surpassing Hartsfield-Jackson Atlanta International Airport for the first time in four years. The Federal Aviation Administration released data showing that O'Hare had more than 903,000 arrivals and departures during 2018. Atlanta's airport was second, with more than 895,000 arrivals and departures.
WESTON, Fla. (AP) — A Florida software company is being purchased by a California private equity firm for $11 billion. The South Florida Sun Sentinel reports that Ultimate Software announced it's being purchased by San Francisco-based Hellman & Friedman. Ultimate will continue operation under its founder and CEO, Scott Scherr.
