CNN Money's Maribel Aber has your top business and financial news on this Friday, March 14.
NEW YORK, NY (CNN) - CNN Money's Maribel Aber has your top business and financial news on this Friday, March 14.
Current rules governing overtime pay are "wrong," President Barack Obama said Thursday as he signed an order directing his administration to reexamine how employees are paid for working more than 40 hours per week. "Overtime is a pretty simple idea. If you have to work more, you should get paid more," Obama said at the White House. "Unfortunately today, millions of Americans aren't getting the extra pay they deserve."
McDonald's workers filed seven class-action lawsuits in New York, California and Michigan Thursday over wage theft violations. The suits allege that McDonald's has forced employees to work off the clock, not paid them overtime and struck hours off their time cards. "We've uncovered several unlawful schemes, but they all share a common purpose -- to drive labor costs down by stealing wages from McDonald's workers," said Michael Rubin of Altshuler Berzon LLP, an attorney who represents California workers.
Microsoft knows that its Office software isn't quite as crucial as it once was. But its decision to launch a cheaper Office 365 'Personal' for $70 a year is perplexing at best. Office 365 Personal can be installed on just one PC and one tablet. For those who don't necessarily need the productivity suite on a regular basis, they can opt to pay Microsoft $7 a month for the service. Microsoft introduced Office 365 to consumers in January 2013.
Jimi Hendrix fans have something to celebrate. The U.S. Postal service released an limited-edition Forever stamp Thursday featuring the Rock and Roll Hall of Famer. The stamp comes out decades after the musician died in 1970, when a stamp cost just 6 cents. Today, one costs 49 cents. It is designed to resemble a vintage 45 rpm record sleeve and shows Hendrix wearing one of his trademark military jackets and playing a guitar.