Walmart passing tax benefits onto US employees
Walmart (NYSE:WMT), is the latest company to return some of its expected tax benefit to workers. The retailer is raising its minimum wage by $1 to $11 an hour. Walmart will also pay one time bonuses of up to $1,000 to some hourly workers. The company says the wage hike -- which takes effect next month -- will add $300 million to expenses and a one-time charge of $400 million for the bonus payments.
Diet Coke is getting a makeover. Coca-Cola is adding a slimmer 12-ounce diet coke can, updating the logo, and adding 4 new flavors -- twisted mango, ginger lime, feisty cherry and zesty blood orange. The tastes of the plain diet coke will stay the same. This is an effort to appeal to millennials and boost sales. You'll see this new diet coke in stores by the end of the month.
Nearly four out of 10, that's 37%, of Generation X, those born between 1965 and the late 1970s, say they would like to stop working for good and "fully retire" someday, "but will not be able to afford to" according to a new survey from TD Ameritrade. 43% say "they are behind" in their savings. While half (49%) say they are "worried about running out of money" once they leave the workforce. This is partly attributed to the phasing out of traditional pensions funded by employers. More people are relying on their on 401(k) plans and IRA's that require workers to do most of the saving on their own.