NEW YORK, NY (CNN) - CNN Money's Maribel Aber has your top business and financial news on this Tuesday, April 1.
The University of Arkansas announced Monday an estate gift valued at more than $7.8 million to its College of Engineering from alumnus Robert H. Biggadike. The gift will be used to establish the Robert H. Biggadike Endowment for Teaching in the college, the university said. "This is a fantastic gift for the College of Engineering and the University of Arkansas," said Chancellor David Gearhart in a news release. "Robert's generosity is inspiring, and we are deeply touched by his support of his alma mater. His gift will allow the College of Engineering to make impressive advances and contribute greatly to its future success."
If you thought paying tens of thousands of dollars for a college education guaranteed a high-paying job, think again. About 260,000 people who had a college or professional degree made at or below the federal minimum wage of $7.25 per hour last year, according to the Bureau of Labor Statistics. Things may be looking up a little, though -- it's the smallest number since 2008. The worst year was 2010, when the number skyrocketed to 327,000. Despite the recent improvement, the number of workers with college degrees is still more than double what it was in 2005, prior to the Great Recession.
Automakers will be required to install backup cameras in most new vehicles by May 2018, a federal agency announced Monday. The National Highway Traffic Safety Administration finalized a long-awaited rule requiring all new cars, SUVs, and minivans, as well as some new small trucks and buses to carry rear visibility technology. Automakers haven't been previously required to include these systems but NHTSA did recommend it, saying it can save many deaths and injuries from backover crashes. There are nearly 210 backover deaths each year, the agency said. About a third of those deaths are children, and many are caused by parents, it said.
Baseball season is now officially underway, and some fans are about to find out that a day at the ballpark just got a little more expensive. Average ticket prices rose by 2% for the 2014 season to around $28 each, meaning a family of four can expect to shell out more than $110 for four tickets, according to Team Marketing Report's annual "Fan Cost Index" which surveyed 30 Major League Baseball stadiums across the United States and Canada. But that's just the tickets. Add in four hot dogs (at an average of $4.32 each) and two beers (at an average of $6.09 each) and a day at the ballpark can cost you more than $140, even before extras like parking or popcorn.