California FAST Act raises minimum wage to $20 for fast-food workers
04/01/2024 22:58
California's FAST Act legislation is going into effect on Monday, April 1, mandating fast-food chains with over 60 locations nationwide to increase their minimum wage to $20 per hour within the state. Major names like Starbucks (SBUX), McDonald's (MCD), and Chipotle (CMG) will be significantly impacted by this new law. Yahoo Finance's Brooke DiPalma breaks down the details, providing insights into how these affected chains may attempt to offset the substantial wage increases. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Editor's note: This article was written by Angel Smith
Reuters
OPEC oil output falls in March, led by Iraq - Reuters survey
OPEC oil output fell last month, a Reuters survey found on Monday, reflecting lower exports from Iraq and Nigeria against a backdrop of ongoing voluntary supply cuts by some members agreed with the wider OPEC+ alliance. The Organization of the Petroleum Exporting Countries pumped 26.42 million barrels per day (bpd) last month, down 50,000 bpd from February, the survey, based on shipping data and information from industry sources, found. Several members of OPEC+, which includes OPEC, Russia and other allies, made new cuts in January to counter economic weakness and increased supply outside the group.