Government And Institutions

How MetLife Trumped the U.S. Government’s ‘Too Big to Fail’ Case

MetLife Inc. scored a major victory on Wednesday for American tax payers and perhaps the U.S. financial system as a federal judge ruled the insurance giant is not “too big to fail” and should not be subjected to the stricter capital requirements implemented after the 2008 mortgage meltdown.

Plan to Hike California Minimum Wage to $15 Passes Key Hurdle

SACRAMENTO, Calif., March 30 (Reuters) - A plan to raise California's minimum wage to $15 passed its first legislative hurdle on Wednesday, clearing a key committee and putting the state on track to become the first in the nation to commit to such a large raise for the working poor.

U.S. Court Shoots Down Puerto Rico Tax on Wal-Mart

A U.S. district court judge on Monday struck down a tax levied by Puerto Rico on retailer Wal-Mart Stores, dealing a blow to the debt-laden U.S. territory's efforts to shore up its finances.

California Lawmakers, Unions Reach $15 Minimum Wage Deal

California lawmakers and union leaders have reached a tentative deal to raise the state's minimum wage to $15 over six years that could avert a campaign to bring the issue to voters, two California newspapers reported on Sunday, citing unnamed sources.

Wages At Center of Rate Hike Drama

No one seems to know why workers’ paychecks aren’t getting much bigger even as the economy generates lots of jobs each month and the unemployment rate has fallen to its lowest level in seven years.

Japan Owns More U.S. Debt Than China

Japan is now the largest foreign holder of U.S. debt, knocking China out of first place. Economic policies in Japan are keeping interest rates near record lows there, and Japanese investors have put more money in the U.S., whose Treasury bonds offer higher yields.