CNN Money's Maribel Aber has the latest business and financial news for Tuesday, June 10.
NEW YORK, NY (CNN) - CNN Money's Maribel Aber has the latest business and financial news for Tuesday, June 10.
Arkansas "techpreneur" pioneer James Hendren will kick off the Arkansas Venture Center's Build It series on Tuesday from the Little Rock Regional Chamber of Commerce. The AVC, officially launched May 20 with a $500,000 grant from the state, has been operating for months from temporary quarters in the chamber. The Build It series is billed as a "fireside chat" with an Arkansas startup founder. The goal, according to AVC co-founder Lee Watson, is to tap the knowledge and experiences of important figures in the state's entrepreneurial development.
The food fight over Hillshire Brands appears to be wrapping up Monday as Tyson Foods upped its offer for Hillshire, forcing rival Pilgrim's Pride to drop its bid. Hillshire, whose brands include Jimmy Dean sausages, Ball Park Frank and Sara Lee frozen bakery, has proposed its own purchase of Pinnacle Foods (PF). But last week Hillshire announced its board had authorized talks with both Tyson and Pilgrim's Pride over their interest in the company. Tyson (TSN), which on May 29 had bid $6.8 billion for Hillshire (HSH), upped its all-cash bid to $8.55 billion, or $63 a share Monday. The bid is contingent upon Hillshire dropping its bid for Pinnacle.
Amazon's tentacles have reached a new corner of the e-commerce world. The company launched a new service Monday allowing customers to automatically pay recurring charges, like monthly subscription fees or phone bills, using their Amazon log-in details. Amazon said it had been testing the service in recent months with fledgling mobile carrier Ting to "impressive" results. With more than 244 million active customer accounts, Amazon already has a massive base of potential users for the service. The effort represents a new front in its assault on eBay, which owns online payments service PayPal.
States are doing it. Some major cities are doing it. And now a majority of Americans are hoping Congress will do it. CNNMoney's American Dream Poll found that 71% of people surveyed favor a hike in the federal minimum wage. The majority was strongly represented by both men and women. There was stronger support among Democrats -- 90% of those polled said they supported an increase. But 54% of Republicans also agreed that the minimum wage should be raised.