Money Minute: Overtime Pay Next Big Fight; Amazon Eyes Music Streaming


Overtime pay is the next battleground in President Barack Obama's fight for greater economic equality.

The president plans to use his executive powers to force employers to pay overtime to millions of workers who are classified as "executives or professionals." The New York Times reports this includes workers ranging from computer techs to fast food managers. The new regulations being proposed could significantly expand the number of people eligible for overtime pay by changing the definition of what it means to be a supervisor or executive.

Apple (AAPL) still controls 80 percent of the market for downloaded music, %VIRTUAL-article-sponsoredlinks%but music fans are buying fewer songs than they used to, partly because of the growing popularity of streaming services such as Pandora Media (P) and Spotify. So to firm up its iTunes business, Apple is reportedly pressuring music companies to offer it exclusive rights for a short period of time on some new releases.

Meanwhile, The Wall Street Journal reports that (AMZN) is looking to get into the music streaming business. But so far, it's running into resistance from some music companies. Amazon's plan would reportedly limit how long you could listen to a song. The hope is that a tease will be good enough for listeners to buy it from Amazon.

Google is also looking at a new venture. According to Crain's New York Business, Google (GOOG) is planning to open its first retail store. It would be based not far from Wall Street, in the SoHo section of New York -- right down the street from an Apple store.

Here on Wall Street yesterday, the Dow Jones industrial average (^DJI) fell 67 points, the Nasdaq composite (^IXIC) lost 27 and the Standard & Poor's 500 index (^GPSC) dropped 9 points.

Finally, spring break is in full swing for many college students, and Priceline (PCLN) is out with a list of the most popular destinations. Topping that list is Las Vegas, followed by New Orleans, Denver, New York and San Diego. Cancun is the top international destination.

-Produced by Drew Trachtenberg.