Minimum Wage Hikes Lead to More Robots, Study Finds

Minimum wage hikes lead to more robots in the workforce, according to a National Bureau of Economic Research study. The study found from 1980-2015 minimum wage hikes caused low-skilled workers in automatable positions to lose their jobs in favor of machines.

According to CNBC, automatable jobs include positions like supermarket check-out clerks, who can be replaced by self- serve checkouts and assembly-line workers at manufacturing plants, who can be replaced by robotic arms.

The federal minimum wage is $7.25, but more than half of the states have higher minimum wages.

Woman Awarded $417 Million in Johnson & Johnson Baby Powder Lawsuit

A Los Angeles jury ordered Johnson & Johnson to pay $417 million in damages to a woman who says she developed ovarian cancer after using the company’s baby powder.

According to CNN, the 63-year-old Los Angeles woman, told the court she used the powder since she was 11 years old as part of her feminine hygiene routine.

According to the American Cancer Society, studies have been mixed on if talcum powder causes ovarian cancer. It has been suggested the powder might cause ovarian cancer if powder particles travel upward to the ovary during feminine hygiene routines.

The woman said Johnson & Johnson failed to adequately warn customers about the cancer risks of the baby powder.

Fox News reports Johnson & Johnson faces 4,800 similar claims nationally and has already been ordered to pay $300 million by juries in Missouri.

Johnson & Johnson says it plans to appeal the verdict.

US, South Korea Begin Military Drills Despite Threats From North Korea

The U.S. and South Korea began their annual military drills Monday -- a move that comes on the heels of tensions between the two countries over North Korea’s recent intercontinental ballistic missile tests and threats of being able to hit Guam with a missile.

The Korea Herald reports the Ulchi Freedom Guardian exercise is a computer-based drill and 50,000 South Korea and 17,500 U.S. troops will participate in simulating a war with North Korea.

CNN reports a day before North Korea warned the joint drills is “driving the situation into the uncontrollable phase of nuclear war” and the army “is keeping a high alert.”

Schawb: US Workers Feel More Financially Confident with Professional Help

Two out of three 401(k) savers have increased their contributions in the past two years, according to a survey from Schwab Retirement Plan Services. But, the savers still have a lot of stress and doubts.

The Schwab survey found financial stress can affect job performance, especially with non-savers -- 30% of non-savers said financial stress affects their job performance as opposed to 21% for savers. The study also found non-savers are less likely to be interested in a financial wellness program even though investment confidence is higher when a financial professional is involved. 20% of savers said they felt extremely confident when it came to making the right investment decisions by themselves, the confidence level jumped to 32% when savers had the help of a financial professional. For non-savers, 23% felt extremely confident they could make the right decisions by themselves, as opposed to a 30% with the help of a professional.

The Schwab study shows it may be a good idea to think about enlisting the help of a financial professional before making important investment decisions.

Top Navy Officers Fired After Deadly Collision off Japan Coast

The top three officers of the USS Fitzgerald were relieved of their duties, according to the U.S. Navy’s 7th Fleet.

The guided-missile destroyer was badly damaged in June off the coast of Japan after it ran into a freighter, killing seven sailors. According to a 7th Fleet press release the collision was “avoidable and both ships demonstrated poor seamanship.” The Navy says “flawed watch stander teamwork and inadequate leadership” were to blame for the collision.

Several junior officers were also fired.