Business News: GM to unveil compensation packages

(CNN)- Next week we should know who will be compensated for General Motors ignition switch recall and how much they will receive. GM consultant Kenneth Feinberg is expected to present his compensation plan Monday morning.  Feinberg, who is considered a "compensation expert," devised similar plans for victims of the 9/11 terrorist attacks and the Virginia Tech massacre.  It took GM more than a decade after the problem was first discovered to recall the 2.6 million vehicles equipped with the faulty ignition switch.  GM has linked the ignition issue to 13 deaths and 54 accidents, but industry experts believe the real number is much higher.  

(CNN)-  Looking to buy a new iPhone, but don't want to pay full price? You are in luck. Walmart is cutting iPhone prices.  With a two year contract, a 16 gigabyte iPhone 5S will cost 99 dollars, down from 149 bucks. The 16 gigabyte iPhone 5C will be 29 dollars, down from 49 dollars.  The deal is only for purchases made at Walmart stores, not online.  The price slash is fueling speculation that apple is preparing to release a new phone.  Walmart says it is just aiming to offer customers great prices.  

(CNN)- Ikea is the latest company to raise its minimum wage.  Starting January first, the home furnishings chain will raise its average minimum wage from $9.17 an hour to $10.76.  The increase will affect about half of the 11 thousand Ikea employees at 38 U.S. stores


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