Amazon Wages
Jeff Bezos’s boosting of hourly wages, to a minimum of $15 in the U.S. and £9.50 in the U.K., is the result of two factors, according to the Guardian‘s Larry Elliott. The first is political pressure from Bernie Sanders and Donald Trump in the U.S., and unions and the clergy in the U.K. The second is low unemployment–the job market is tight, so Amazon has to work to attract and retain staff. Guardian
That Good?
Fed Chair Jerome Powell said that, what with all that low unemployment and inflation, it’s reasonable to ask whether the U.S. economic outlook is “too good to be true.” Powell, referencing those two factors: “While these two top-line statistics do not always present an accurate picture of overall economic conditions, a wide range of data on jobs and prices supports a positive view. In addition, many forecasters are predicting that these favorable conditions are likely to continue.” CNBC
Tampon Tax
Australia is to stop levying a 10% sales tax on female sanitary products, following a concerted campaign to assert that they are not “non-essential” items. “We’re really delighted that everyone’s come on board to scrap what is an unfair tax,” said Minister for Women Kelly O’Dwyer. The change gives tampons the same exemption already afforded to condoms and sunscreen. BBC
Fan Bingbing
The Chinese actress Fan Bingbing, who disappeared a few months ago, has been fined $70 million for tax evasion, while companies she worked with have to pay a further $59 million. Fan is one of China’s biggest stars, but appeared to have dropped off the face of the Earth in June. Turns out she was in secret detention. Her agent is now being held by authorities who say he impeded their investigation. South China Morning Post
This edition of CEO Daily was edited by David Meyer. Find previous editions here, and sign up for other Fortune newsletters here.
