Wednesday’s business headlines

Business

INDIANAPOLIS (WISH) – Here’s a look at Wednesday’s business headlines.

Overtime

The Labor Department announced a revised rule that will grant overtime pay to 1.3 million American workers.

Under the new rule, salaried workers will be eligible for overtime pay if they make up to $35,568, up from 23,660, which has been the limit since 2004.

Comcast

Comcast’s internet speeds just got a lot faster. In what is expected to be a nationwide upgrade, four of its tiers are getting a boost.

Some customers can, therefore, expect speed boosts of up to 25%.

Comcast has implemented upgrades in recent years, clearly, in a bid to both remain competitive and to stay ahead of ever-increasing bandwidth demand.

Nike

Nike shares hit an all-time high on new products and strong sales.

Sales in North America rose 4% but sales in China were up 27%.

Product innovation, like a new joyride running shoe, and a stronger e-commerce business helped boost results.

Oil prices

Oil prices are a week low.

Saudi Arabia is making progress in restoring production following attacks on processing facilities, as well as concerns over the global demand picture.

Also, contributing to declines in oil prices, the Iranian president said he was open to discussing small changes to the 2015 Nuclear Deal if the U.S. lifted sanctions on his country.

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