Cheddar Afternoon Business Update 1/2: Rise in minimum wage, Apple, Airbnb
Many American workers will see bigger paychecks this week as minimum wage increased in 18 states at the start of the new year.
In New York, the minimum wage for fast food workers outside New York City rose to $11.75. The federal minimum wage is still $7.25 an hour. Congress hasn't voted to raise the minimum wage in more than a decade.
2017 was a big year for Apple, even though it ended with an apology for slowing down older iPhones. This year, experts say you should look for a new iPhone X and a new iPad. FaceID is also expected to be more present on the company's devices. Despite concern over sales of Apple's 10th edition phone, the company still sold 223 million iPhones in 2017, making it the best-selling tech product of the year.
Finally, it was a big New Year's Eve for Airbnb. More than 3 million people used the service to book a place to stay on the holiday. Only 1,400 people used Airbnb on New Year's Eve 2009.