Big Business
Associated Press/Photo by Elise Amendola (file)

Citing tax cuts, Walmart raises wages

by Evan Wilt
Posted 1/11/18, 11:14 am

Walmart announced Thursday it would raise employee wages and give them bonuses this year, citing the Republican tax overhaul package as the reason. Starting next month, Walmart plans to increase the starting hourly wage from $9 to $11. The retailer also announced it would dole out one-time cash bonuses of up to $1,000 based on years worked at the company. All told, Walmart plans to give out $400 million this year in employee bonuses.

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Associated Press/Photo by Eugene Hoshiko (file)

Toyota, Mazda plan $1.6 billion plant in Alabama

by Leigh Jones
Posted 1/10/18, 11:57 am

Automakers Toyota and Mazda have chosen Huntsville, Ala., for a new $1.6 billion plant that eventually will bring about 4,000 jobs to the area. Alabama officials haven’t confirmed the deal, but Gov. Kay Ivey will make a major economic development announcement Wednesday. Alabama beat out North Carolina in the bid to woo the factory, which could begin operations as soon as 2021. The plant will produce Toyota Corollas and a new small SUV for Mazda, eventually churning out 300,000 vehicles per year. Huntsville already has a Toyota engine plant that employs about 1,500 people.

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ImagineChina via AP

Copycat crimes

Business | As China steals U.S. technology, American firms fear speaking up and losing access to a massive market
by June Cheng
Posted 1/03/18, 08:02 pm

Wind turbine company American Superconductor saw a huge opportunity to tap into the coveted Chinese marketplace after the Chinese government passed a renewable energy law in 2005. Partnering with the Chinese company Sinovel, American Superconductor provided the advanced computer software used to run the turbine, while Sinovel manufactured the turbine exterior.

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