Obama wins $14 billion in pledges for Africa investments

Bloomberg: President Barack Obama will announce today $14 billion in commitments from U.S. companies for investments in Africa, a centerpiece of his goal of strengthening commercial ties to the continent. More than a dozen companies, including General Electric Co. and International Business Machines Corp., are making the pledge, which Obama is to outline during a three-day summit involving 40 African heads of state.

 

LinkedIn forced to pay damages for unpaid overtime

CNNMoney: The Department of Labor announced Monday that the professional networking site LinkedIn has agreed to issue $3.3 million in overtime back pay as well as $2.5 million in damages to 359 current and former employees.Regulators found that LinkedIn wasn't keeping track of the total hours worked by employees in a number of different branches.

 

The U.S. is becoming a nation of Jeeps

Bloomberg Businessweek: If 2013 was the year of the pickup, 2014 belongs to Jeeps. No other brand has gained so much traction in the U.S. this year. From January through July, Fiat sold 392,390 Jeeps in North America, 44 percent more than in the same period last year. That was enough to rocket the American brand past Kia and Dodge, its corporate cousin, to the No. 7 spot on a ranking by volume. At the moment, Jeep is right behind Hyundai in terms of total vehicles sold.