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Economy

Overtime pay may become reality for more US workers

More than 4 million U.S. workers will become newly eligible for overtime pay under rules to be issued Wednesday by the Obama administration. The policy changes are intended to counter erosion in overtime protections,

Buffett company reveals stake in Apple

Warren Buffett, who has long had an aversion to investing in tech companies, purchased 10 million shares of Apple earlier this year. The surprise investment comes five years after Buffett invested billions in IBM, his initial foray into that industry and departure from the type of companies Berkshire Hathaway has targeted for decades.

US stocks surge on the prospect of new China stimulus

U.S. stocks are climbing Tuesday after the Chinese government moved to stimulate its economy. Machinery companies and miners are rising the most, and energy companies are trading higher with the price of oil. Stocks are on track for their biggest gain in a month.

US employers added 160K jobs; jobless rate at 5 percent

U.S. employers pulled back on hiring in April, adding 160,000 jobs, the fewest in seven months, after a streak of robust monthly gains. The unemployment rate remained at a low 5 percent, roughly where it has been since fall. Last month’s hiring gain marked a drop from the average increase of 200,000 over the past three months.