CNN Money's Maribel Aber has your top business and financial news on this Wednesday, May 14.
NEW YORK, NY (CNN) - CNN Money's Maribel Aber has your top business and financial news on this Wednesday, May 14.
Food service products distributor Ben E. Keith said Tuesday that it will spend $60 million on a North Little Rock plant, adding 74 new jobs to its local workforce at an average wage of $33.75 per hour. Company executives made the announcement with Gov. Mike Beebe at the state Capitol. In a news release, the company, which already employs 260 in Little Rock, said it would invest the money in building a 300,000-SF facility that will be its Mid-South Regional Headquarters. Mike Roach, president of Ben E Keith Foods, said construction is expected to begin by mid-summer and take 18-20 months.
The U.S. government doled out more than $13 billion last year in improper payments of a tax credit meant to help the working poor, according to a government watchdog. One of the country's largest cash assistance programs, the so-called Earned Income Tax Credit (EITC) allows low-income workers to lower their tax bill by as much as $6,000, which in many cases prompts a significant refund check. But the Internal Revenue Service estimates that around a quarter of all payments made for the tax credit in the 2013 fiscal year were issued improperly -- resulting in anywhere from $13.3 billion to $15.6 billion in faulty payments, according to a report released by the Treasury Inspector General for Tax Administration (TIGTA).
Microsoft has slashed the price of its Xbox One console and is offering the device without the accompanying Kinect motion-control system. Beginning on June 9, Microsoft will offer the Xbox One for $399 in all markets where it's sold -- a $100 price cut from the bundled version with Kinect. Customers can place preorders now. In a post Tuesday morning, Microsoft also announced the Xbox One and older Xbox 360 console will no longer require a Live Gold subscription, which cost $60 a year, to access streaming apps like Netflix, Hulu Plus, YouTube and HBO Go.
Looking for a traditional Brazilian dish of rice and beans while in town for the World Cup? Try McDonald's. After employees who rejected its regular menu of hamburgers and french fries on work breaks filed a complaint to prosecutors, the local operator of McDonald's restaurants was required to provide dishes more in keeping with the local cuisine. While the meals don't appear on behind-the-counter menu displays at the 816 McDonald's across the South American country, they're available to customers too. Just ask to see the "pratos executivos," or "businessman's specials."