Soaring ratings for the Macy's Thanksgiving Day Parade

This year's Macy's Thanksgiving Day Parade brought in over 22 million viewers for NBC.

NEW YORK (CNNMoney)

NBC's telecast of the annual New York City parade averaged 22.6 million viewers between 9 a.m. and noon Eastern -- the second-largest audience for the parade in the past decade.

The largest audience came last year when 25.2 million tuned in. (That spike was a surprise because the parade's ratings are pretty steady every year. In 2012, the average audience was 22.4 million.)

In a press release, NBC noted that the parade -- which was hosted by Matt Lauer, Savannah Guthrie, and Al Roker -- was one of the highest-rated telecasts on TV this season, beating "every primetime non-sports telecast on the Big 4 networks."

NBC works with Macy's to produce the "official" telecast of the parade. CBS broadcasts an "unofficial" version along the parade route; ratings for the show weren't immediately available on Friday.

After the parade on Thursday, NBC televised another Thanksgiving tradition, the "National Dog Show Presented by Purina," and it averaged 10.3 million viewers for the network, down slightly from 10.7 million viewers last year.

And NBC's primetime NFL offering of the San Francisco 49ers taking on the Seattle Seahawks netted the Peacock a preliminary audience of 17.7 million viewers, also down slightly from the year before.

First Published: November 28, 2014: 5:44 PM ET

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Black Thursday? Thanksgiving sales numbers growing

NEW YORK (CNNMoney)

According to early estimates on Black Friday from Shoppertrak, sales at brick-and-mortar stores were down slightly to $12.29 billion in 2014 vs. $12.35 billion a year earlier. But spending was up nearly 24% on Thanksgiving, and slipped 6.9% on Black Friday, Shoppertrak found.

What's more, people were more willing to trek to stores on Thanksgiving: Visits were up 27% on Thursday compared to 2013, but they were down 5.6% on Black Friday, according to Shoppertrak.

Still, shoppers spent nearly three times as much -- $9.1 billion -- on Black Friday than on Thursday, Shoppertrak estimates.

The trend was similar online, with shoppers increasingly willing to buy on Thanksgiving. Online sales were up 14.3% on Turkey Day compared to last year, according to IBM's Digital Analytics Benchmark report, but just 9.5% on Black Friday, less than expected.

Shoppers also are using their phones and tablets more than ever -- both to buy and comparison-shop while in stores, IBM found.

Sales on mobile devices were up more than 28% from Black Friday last year, accounting for more than one in four online sales transactions Friday, IBM found.

IBM had projected online shopping would climb 15% for the period from Thanksgiving through Monday. It projected year-over-year growth of 13% on Black Friday.

Gas prices drop could mean happier holidays

Wal-Mart (WMT), the world's largest retailer, said it shattered sales records on Thanksgiving, posting its second-biggest online sales day. The company said its site saw over 500 million page views, and 70% came from mobile traffic.

Overall, the National Retail Federation projected spending this season will climb 4.1% to $616.9 billion. It estimated online sales would grow between 8% and 11%.

Last year, holiday sales climbed 3.1%, according to the NRF.

Related: 24 hours with a Black Friday worker

The preliminary reports from Shoppertrak and IBM give an early peek at some of the busiest shopping days of the year.

Black Friday isn't the one-day event that it used to be, when malls and department stores threw open their doors at midnight.

Nowadays, there's round after round of "door busters" and a slew of online sales that begin days before Friday. And most major retailers advertise "Black Friday" deals that actually begin Thanksgiving Thursday evening.

First Published: November 29, 2014: 7:05 PM ET

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Walmart hit with protests on Black Friday

NEW YORK (CNNMoney)

This year, some of the biggest demonstrations took place outside Walmarts in Chicago and Washington D.C., as well in cities in California, Washington, Texas and New Jersey.

At a store in North Bergen, N.J., about 75 protesters marched around the parking lot. They carried signs that read: "People who work deserve a living wage" and "Shame on Walmart." At times they chanted: "Walmart, your kingdom must come down."

Most of them were not Walmart employees but are asking the company to pay all workers at least $15 an hour. Walmart says it pays full-time workers an average of $12.94 an hour.

It is the third year in a row that union-backed groups organized Black Friday protests at some Walmart locations.

Related: 24 hours with a Black Friday worker

But while organizers said demonstrations were planned for 1,600 stores, they could not say exactly how many were taking place. On Friday afternoon, they still expected it to be the biggest action on Black Friday to date, according to Dan Schlademan, a campaign director.

Hundreds of workers were participating on Friday, he said. That includes 30 workers who organizers said walked off the job at stores in Maryland, Virginia and D.C. and seven who were arrested for blocking traffic outside a store in Chicago.

But Walmart spokeswoman Brooke Buchanan said as of Friday afternoon, no employees at any location had come into work and then walked off the job. The company had received a handful of notices from workers who said they were planning to strike today, she said, but an official tally of employees who didn't show up for work was not yet available.

Protesters marched in D.C. Friday morning.

Only one Walmart worker, Barbara Gertz, spoke at the rally outside the New Jersey store, and she actually works in Colorado. The union-backed groups often cover travel costs for workers who come to protest.

Most of the protesters in New Jersey were not workers, but members of unions including the United Food and Commercial Workers Union and the American Postal Workers Union. Some declined to speak with CNNMoney because they said they were not authorized to speak on behalf of the union groups. But Randi Weingarten, president of the American Federation of Teachers union, got on the megaphone to speak to the crowd.

"We will not rest until Walmart workers have a right to a union, a right to a living wage, and a right to decent working conditions and hours," she said. (While some of the unions present are not tied to retail and service employees, they say low hourly wages are a community issue, not just a Walmart issue.)

In the past, unions have been unsuccessful at organizing Walmart workers.

The union groups don't represent Walmart and the protesters do not reflect the view of Walmart associates, Buchanan said.

There are more than 4,000 Walmart (WMT) stores across the country and the company employs about 1.3 million workers in the U.S.

Related: What shoppers are searching for

First Published: November 28, 2014: 4:21 PM ET

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America's dual economy

NEW YORK (CNNMoney)

If you're a glass half-full type, it's easy to point to the fact that the economy is expanding again and unemployment is at a six year low. Gas is back under $3 a gallon, the stock market is at an all-time high and this year's job gains are on track to be the best since 1999.

America is certainly better off than it was during the financial crisis, and the nation looks a lot stronger economically than Japan and Europe.

America has added 2.3 million jobs in 2014

But there's a glass half-empty side of this economy, too.

Wages aren't rising for most Americans. A middle class family is actually bringing home the same income as it did in 1995, and millions of people want full-time jobs but are stuck in part-time positions.

There's no denying the rich are getting richer and the rest are stagnating.

The fact is there is truth in both sides -- the result of a slow-burn recovery from the worst financial crisis in generations.

Why voters hate the Obama economy

Here are the three key stats to that drive home America's dual economy:

1. Lucky to be employed.

On Friday the government reported another strong month of job gains. The unemployment rate is 5.8%, not far from what most economists think is typical rate of around 5% when the economy is humming along.

But the improving number masks the fact that the U.S. has 2.9 million people who have been out of work for half a year or more. That's double the number of long-term unemployed than before the recession.

Even more troubling is that the U.S. has over 7 million people who are working part-time but want full-time employment.

2. Wages aren't growing.

Americans are spenders. We like to buy things and that powers our economy. But people can't make purchases if they don't have money. That's why it's so worrying that U.S. wages aren't getting any bigger.

Wages today are about the same as they were just before the recession.

In the past year, wages went up about 2%, but that is just ahead of how fast costs have been rising so the gains are basically canceled out.

The complete list of companies that are open and closed on Thanksgiving

3. More gains went to Wall Street than Main Street.

The one area that has bounced back since the end of the recession is the stock market. It bottomed out in March 2009 and has been on an incredible tear ever since.

The S&P 500 -- the benchmark index that has a lot of funds that mimic or track it -- is up nearly 200% since that 2009 low point.

But the catch is that only half of Americans have any money in the stock market. So all those gains have only exacerbated the "have versus have not" economy.

Wealthy whites are the most likely to own stocks. And since the rich own more stocks, they benefited more.

First Published: November 7, 2014: 4:43 PM ET

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Madonna's 'Material Girl' look hits the auction block

NEW YORK (CNNMoney)

Several iconic pieces from Madonna's career and personal life are on the auction block, including the Marilyn Monroe-inspired dress, stole and jewelry featured in the 1984 "Material Girl" music video.

The dress is expected to go for $40,000-$60,000 and $4,000-$6,000 for the stole when the items go up for auction starting Friday in Beverly Hills.

Julien's annual Icons & Idols: Rock 'n' Roll auction has 700 items up for bid, including John Lennon's glasses, a T-shirt worn by Kurt Cobain, a guitar from David Bowie and belongings from Elvis Presley, Lady Gaga and more.

Remember 'Easy Rider'? That bike just sold for $1.35 million

But Madge is a top attraction of the auction, with 140 of her items up for sale, including a personal day planner, the inauguration dress she wore when she played Eva Peron in the movie "Evita" and her wedding dress and shoes from her marriage to Sean Penn. You can also get her signed, expired American Express credit card and the baseball uniform she wore in 1992's "A League of Their Own."

The deep pink satin gown had a starting bid of $20,000

"Very little of her stuff comes to auction now," said Martin Nolan, executive director of the auction house.

He said Julien's is looking to set records with the two-day auction that allows people to bid in-person, over the phone and online.

Bids come from all over the world, according to Nolan, but the face of bidders have changed significantly since 2005. "Back then, it was what we call fanatical people, the huge fans that would bid on items. Now, you still see some fans, but they don't have the big dollars that are needed. Museums are big buyers."

Men are buying up these $1,200 sneakers

The starting bid for Madonna's day planner circa 1988 was $1,000

A large portion of the items from The Queen of Pop up came from a private investment firm in the U.K. "They got together and pooled their money in 2007 and chose her as their blue chip icon," said Nolan. "They've now decided to liquidate their Madonna portfolio."

So how strong of a return on investment are celebrity-worn collectibles? In 2005, Julien's held a 200-lot auction of Marilyn Monroe's items that brought in $1 million. Today, Nolan said it would have sold for $10 million. "And that's being conservative." A skirt purchased in that auction for $1,500 sold for $50,000 two years ago.

First Published: November 7, 2014: 5:11 PM ET

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Berkshire earnings take a hit on Tesco losses

NEW YORK (CNNMoney)

That's because the investment company took a massive $678 million charge for its investment in Tesco (TESO), a British grocery chain that has seen its shares plunge this year. The grocer has been struggling amid increased competition and an accounting scandal in which it admitted to overstating its profit forecasts.

Berkshire is one of Tesco's largest shareholders.

Related: Warren Buffett's huge grocery bill

Despite the individual investment losses, Berkshire's portfolio is still ahead for the year.

The company said it earned $4.6 billion, or $2,811 per Class A share during the third quarter. That's better than Wall Street was expecting, but still down 8.6%, from the same period last year. Profits for the first nine months of the year, however, are doing better than they were this far into 2013.

The company's Class A shares closed Friday at $214,970 a piece. Berkshire's more accessible B-shares, which are worth 1/1500th of their pricier counterparts were flat in after-hours trading.

Next quarter might be a rough one as well. Berkshire lost big money late last month on shares of Coca-Cola (KO) and IBM (IBM, Tech30) after both companies delivered disappointing earnings. Coca-Cola, which is one Berkshire's largest investments, subsequently cut executive pay following some Buffett grumbling.

Warren Buffett loses $2 billion, but there's good news

First Published: November 7, 2014: 8:05 PM ET

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Takata hid results of secret airbag tests - report

HONG KONG (CNNMoney)

The report, published by the New York Times, alleges that Takata engineers carried out secret tests on discarded airbags in 2004, after becoming concerned over an incident in Alabama in which one of the company's airbags ruptured.

The Japanese company's engineers were alarmed by what they found. But instead of alerting regulators, the report says that Takata executives "ordered the lab technicians to delete the testing data from their computers and dispose of the airbag inflaters in the trash."

The first airbag recall would not be issued until November 2008.

"All the testing was hush-hush," one former employee told the Times. "Then one day, it was, 'Pack it all up, shut the whole thing down.' It was not standard procedure."

Shares in Takata, which had been trading higher in Tokyo, plunged more than 7% after the report was published. Hideyuki Matsumoto, a Takata spokesperson, said the company had no comment.

In total, 10 different automakers have recalled vehicles due to flawed airbags that can explode and hit passengers with shrapnel. There have been four deaths and dozens of serious injuries tied to the faulty airbags, according to the Center for Auto Safety.

Related: The fix for exploding airbags may be more deadly than the problem

Last week, Takata and Honda Motor (HMC), one of the affected brands, were hit by a U.S. federal lawsuit. The suit seeks class action status on behalf of the owners of all five million Hondas affected by the recall, alleging that they've suffered inconvenience and financial losses.

Other automakers including Toyota (TM), BMW, Mazda (MZDAF), Mitsubishi (MBFJF), Subaru, Nissan, Ford (F) and General Motors (GM) have also issued recalls.

This has been a record year for car recalls affecting more than 52 million vehicles. About one in every five cars on the road has been recalled.

First Published: November 6, 2014: 11:33 PM ET

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Stocks: 5 things to know before the open

Click chart for in-depth premarket data.

LONDON (CNNMoney)

For starters, it's Friday. And the U.S. government is releasing its monthly jobs report, which just might send stocks to new record highs.

Here are five things you need to know before the opening bell rings in New York:

1. Jobs, jobs, jobs: The U.S. Bureau of Labor Statistics will post its monthly jobs report at 8:30 a.m. ET. Economists surveyed by CNNMoney project that 233,000 jobs were created in October, and the unemployment level will remain at 5.9%.

In September, employers created 248,000 new jobs and the nation's unemployment rate fell below 6% for the first time in six years.

"U.S. [jobs] data is the most important data on earth and any kind of extreme reading today could have a significant impact on the markets," said Naeem Aslam, chief market analyst at AvaTrade.

2. Market moves: U.S. stock futures are inching higher in anticipation of a strong jobs report.

Gold and oil prices were relatively flat.

The main U.S. stock market indexes all closed with gains Thursday. The Dow Jones industrial average and S&P 500 rose by about 0.4%, closing at new all-time highs.

Related: Fear & Greed Index

3. What's up Warren Buffett?: Berkshire Hathaway (BRKA), the investment company run by famed billionaire Warren Buffett, is slated to report quarterly results after the close of trading.

Berkshire has suffered some losses recently on its stakes in Coca-Cola (KO), IBM (IBM, Tech30) and British grocery chain Tesco (TSCDY).

4. Other earnings -- Disney, Allianz: Shares in Disney (DIS) were falling by about 2% premarket after the firm reported fourth quarter results that beat Wall Street expectations.

Much of Disney's success came from Marvel's summer standout "Guardians of the Galaxy" and its "Sleeping Beauty" redux "Maleficent."

Shares in Allianz (AZSEY) were surging by 5% in Germany after the company posted upbeat quarterly results and announced a dividend hike. Revenue and profits rose in the third quarter, despite problems at its asset management arm, which includes Pimco.

Investors pulled 49.2 billion euros ($61 billion) out of Pimco funds in the quarter, mostly after the founder, Bill Gross, made his abrupt departure from the company.

5. International markets overview: European markets are mostly rising in early trading.

Asian markets ended the week with mixed results.

The Russian ruble continues to weaken against the U.S. dollar -- trading near record lows -- after the central bank said it would limit its intervention in markets to support the currency.

First Published: November 7, 2014: 5:07 AM ET

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The 'temporary' recession tax you're still paying

NEW YORK (CNNMoney)

The downturn, of course, hammered state budgets. In response, 14 states and the District of Columbia tried to plug their revenue shortfalls in part by imposing temporary taxes, a new report from the Tax Policy Center found.

Combined, those states and D.C. imposed 25 temporary tax measures between 2008 and 2011.

Related: States with the highest state and local taxes

Of those 25, however, 13 have since been extended, made permanent or replaced. Nine were actually allowed to expire on schedule and 3 still haven't reached their expiration date.

Connecticut, for instance, extended its temporary 10% corporate income surtax twice, and has since increased it to 20%.

Hawaii temporarily increased its lodging tax by 2 percentage points to 9.25%, then made that increase permanent.

Kansas raised its sales and excise tax from 5.7% to 6.3%. Then it ratcheted back the increase a little - to 6.15% - and made that permanent.

Similarly, Delaware increased its top income tax rate by 1 percentage point to 6.95%, then lowered it to 6.6% in two steps and made it permanent.

Related: What now for taxes after Republican sweep?

New York, meanwhile, replaced part of its recession-era income tax hike on the rich with another temporary tax hike on the even richer. The second temporary tax, now set to expire in 2017, imposes an 8.82% top rate on income over $2 million.

Among states that actually let their temporary tax hikes expire on schedule and for good are: Arizona, Maryland, New Jersey and North Carolina.

Temporary taxes weren't the only tools those 14 states used to balance their budgets, which they're required to do. Due to the depth of the recession and their limited rainy-day funds to combat it, the report found these states also -- along with most states -- had to cut spending and raise taxes in other ways.

First Published: November 7, 2014: 5:50 AM ET

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This suit will give you superhuman strength

NEW YORK (CNNMoney)

Lockheed Martin (LMT) has developed Fortis, an exoskeleton that can shoulder the first 36 pounds of whatever its user is holding. The company is beginning to test the technology in factories around the country, starting with the C-130 plant in Marietta, Ga.

Putting on Fortis looks a bit like attaching robot parts to your own appendages, with metal rods and braces outlining the body of the suit. While wearing it, a large tool feels light enough to swing around.

A 30-plus pound riveter felt "pretty much weightless" to Jim Medley, an assembly line worker at the cargo plane factory.

He was more graceful with his tools than on his feet, however: walking in Fortis is closer to a waddle. Still, Medley found that the equipment substantially lightened his load while drilling and riveting a section of a C-130J wing.

The benefit of this newfound strength (aside from feeling like a superhero) is that it enables workers to go for long periods without needing a break. The suit minimizes muscle fatigue, which increases productivity.

"It's actually holding the weight ... I just have to balance it and maneuver it to where it needs to go, " Medley said.

Fortis works by transferring weight from the arm of the exoskeleton through a series of joints and ultimately to the ground. It has counterweights on the back so users don't fall over.

The technology was under development for six years. Lockheed has developed four units so far, with more on the way. Two were sent to the Navy in mid-October for testing and evaluation at their shipyards.

Related: Shopping? The robot will help you now

"Workers there were experiencing fatigue from holding grinders up on the sides of ships for long periods of time," Lockheed's exoskeleton technology manager Patricia Aelker said.

The other two are traveling to Lockheed facilities around the country as the company tests different applications. At the C-130 plant, Fortis was put to work for riveting, grinding and overhead drilling.

"Iron Man is a fictional character that breaks the laws of physics, but Fortis is a real product for real people," Aelker said.

First Published: November 5, 2014: 11:53 PM ET

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The latest trend in housing? Roommates

NEW YORK (CNNMoney)

The percentage of adults living with someone other than a spouse or partner hit 32% nationwide in 2012, up from 26% in 2000, according to Zillow's analysis of the latest Census Bureau data.

And, judging by the ongoing decline in homeownership rates and tightened supply of rental vacancies, the trend appears to be gaining momentum.

People start pairing up when rents are climbing and incomes aren't keeping up -- and in recent years, rents have really been on a tear. They rose 6.5% over the 12 months ended in September, according to Trulia. Meanwhile, wages have remained more or less flat.

Related: Why I have a roommate at my age

The numbers make the case for sharing space.

In Brooklyn, N.Y., for example, the average one-bedroom apartment rents for more than $2,600 a month, according to Jonathan Miller, president of appraisal firm Miller Samuel. Renters willing to live together, however, pay an average of $3,200 for a two bedroom, each saving $1,000 a month. Those living in three bedrooms, which average $4,200 a month, save even more at $1,200 per person.

Related: Most innovative cities

Working adults in doubled up households tend to earn less, according to Zillow. So sharing a place enables them to afford and compete for more attractive housing.

Writer Dina Wilcox and executive coach, Ann Fry, live in Manhattan, one of the nation's most expensive housing markets. Both in their late 60s, most of Wilcox's and Fry's peers live with significant others or by themselves.

But these two have found life more enjoyable and affordable by splitting things like the utility bills and food costs in their Harlem apartment. Fry, for example, pays just $1,500 a month for her share of housing expenses.

"Financially, it's terrific. It meant I could pay what I was paying in my old sublet," said Fry.

There's also the added bonus of companionship: The two often entertain and cook together, she said.

Dina Wilcox and Ann Fry live together in an apartment in Harlem.

Thikshan Arulampalam, 46, said he has had a roommate for almost the entire 18 years he's lived in New York City. He's been thankful for the savings. Money got very tight after he was laid off last year and started his own IT company.

"My friends think I am crazy and should move to a suburb and live on low rent on my own," he said.

Related: Colleges with the highest paid grads

Not surprisingly, the metro areas with the largest percentage of doubled (or tripled or quadrupled) up households are the priciest ones. Among the cities where 42% or more of households include roommates: Honolulu, Los Angeles, Riverside, Calif., Miami, and New York, according to Zillow's analysis of Census data.

Cities where roommates are few and far between are mainly small affordable places in the Midwest, where slow growth means little pressure on housing stocks and rents and home prices are reasonable. These are places like Sheboygan, Oshkosh and Wausau, Wisc. as well as Ithaca, N.Y.

First Published: November 5, 2014: 6:52 PM ET

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Stocks: 5 things to know before the open

Click chart for in-depth premarket data.

LONDON (CNNMoney)

U.S. stock futures are dipping lower after both the Dow Jones Industrial Average and the S&P 500 surged to new all-time highs Wednesday.

Here are five things you need to know before the opening bell rings in New York:

1. Market movers: Shares in Tesla (TSLA) are set to jump Thursday after the company posted earnings that beat expectations. Whole Foods (WFM) stock is also expected to pop after reporting record sales.

Shares in Time Warner (TWC) -- which owns CNNMoney -- could also be on the move after its quarterly results impressed investors.

2. Earnings: Some of the big names reporting earnings before the opening bell include AOL (AOL, Tech30), AstraZeneca (AZN), Cablevision (CVC), and DirecTV (DTV). Walt Disney (DIS) and Zynga (ZNGA) will post after the close.

In Europe, investors will be parsing through earnings from Adidas (ADDYY), Commerzbank (CRZBY), Siemens (SIEGY) and fashion brand Hermes (HESAY).

Related: Fear & Greed Index

3. Oil: OPEC will present its World Oil Outlook at 8:30 a.m. ET. Traders are hoping it will give more insight into long term plans for oil production and prices.

Crude oil prices have fallen by about 26% since the middle of June and are currently trading below $79 per barrel in New York, which is squeezing many nations that depend on energy exports.

Related: These countries are getting killed by cheap oil

4. Economics: There's a focus on U.S. jobs this morning. The U.S. government will post weekly jobless claims at 8:30 a.m. ET. The Challenger Job Cuts report for October will also be out at 7:30 a.m.

Central banks are also top of mind: Traders are waiting on the European Central Bank to issue its latest monetary policy decision at 7:45 a.m ET and hold a news conference at 8:30 a.m.

The Bank of England will also issue its policy decision this morning.

Related: CNNMoney's Tech30

5. International markets overview: All the major European markets were declining in early trading.

Asian markets mostly closed in the red.

First Published: November 6, 2014: 5:10 AM ET

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Red-leaning states say yes to a higher minimum wage

NEW YORK (CNNMoney)

Based on the results tallied by 2:45 a.m. EST, voters in Alaska, Arkansas, Nebraska and South Dakota -- all red-leaning states -- had approved proposals to raise their state-level minimum wages over the next few years.

Alaska: The minimum wage will rise from $7.75 an hour today to $9.75 by 2016.

Arkansas: The minimum wage will rise from $6.25 an hour now to $8.50 by 2017.

Nebraska: From $7.25 today to $9.00 by 2016.

South Dakota: From $7.25 currently to $8.50 next year; it will be adjusted for inflation thereafter.

They join 12 other states and Washington, D.C., all of which have moved in the past two years to raise their state minimums.

2014 minimum wage, state by state

Voters in Illinois also approved a measure Tuesday night to raise that state's minimum wage from $8.25 today to $10. But the vote was nonbinding, operating as more of an opinion poll, and the results won't change Illinois law.

Meanwhile, the Democratic push in Congress to raise the federal minimum wage to $10.10 from $7.25 has gone nowhere.

Banks to pay everyone at least a 'living wage'

At a more local level, voters in the California cities of San Francisco, Oakland and Eureka also were asked to weigh in on a higher minimum wage.

Votes there are still being tallied, but preliminary numbers suggest the measure was approved in San Francisco, where the minimum wage would be gradually raised to $15 by 2018, up from $10.74 currently.

L.A. mayor calls for $13.25 minimum wage

San Francisco Mayor Edwin Lee declared victory on the issue, saying "San Francisco voters sent a message loudly and clearly to the nation that we can take on the growing gap between rich and poor, we can give a well-deserved raise to our lowest-wage workers, and we can do it in a way that protects jobs and small business."

If the final tally does confirm majority approval of the wage hike in San Francisco, that city will be at the front of the pack with Seattle, which recently approved a $15 minimum by 2017.

Many low-wage workers not protected by minimum wage

First Published: November 5, 2014: 1:20 AM ET

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Stocks: 5 things to know before the open

Click chart for in-depth premarket data.

LONDON (CNNMoney)

Here are the five things you need to know before the opening bell rings in New York:

1. Midterm election results: CNN projections show Republicans won the balance of power in both the Senate and the House.

This gives the GOP control of Congress and the power to pin down President Obama during his last two years in office. Many investors expect that the Republican takeover of the Senate will lead to more pro-business policies, and benefit the energy and financial sectors.

U.S. stock futures were pushing higher before the open.

2. Earnings and economics: Time Warner (TWC), Tim Hortons (THI) and Mondelez International (MDLZ) are set to post quarterly results before the opening bell.

Tesla Motors (TSLA), CBS (CBS), News Corp (NWS) and Whole Foods (WFM) will report after the close.

Shares in TripAdvisor (TRIP) are getting pummeled premarket -- down 12% -- after the travel website reported worse than expected earnings Tuesday. Competitor Priceline (PCLN, Tech30) also took a beating in the market earlier this week after issuing a weak forecast.

On the economics side, the ADP national employment report for October will be published at 8:15 a.m. ET. This comes just ahead of Friday's highly anticipated monthly jobs report from the U.S. government.

Related: Fear & Greed Index

3. European market movers: European markets were all rising in early trading.

A stand-out performer was British grocery chain Marks and Spencer (MAKSY). The company reported better than expected earnings and shares shot up by 8%.

Meanwhile, Rolls-Royce (RYCEY) shares were edging down by about 1% in London, a day after the company said it was cutting 2,600 staff and appointing a new finance chief.

4. Asian market movers: Shares in Japan's Softbank (SFTBF) declined by 2.3% after the telecom company slashed its earnings expectations for the year, based on its investment in Sprint (S). The struggling U.S. carrier said this week it's laying off 2,000 people, after posting another quarter of massive losses.

Shares in Japanese automaker Nissan (NSANY) got a 2% boost after it reported better than expected quarterly results. The weaker yen has helped, making it cheaper for foreigners to buy its cars.

Meanwhile, Asian markets ended with mixed results, though the moves were not particularly dramatic.

Related: CNNMoney's Tech30

5. Tuesday market recap: U.S. stocks closed mixed Tuesday. The Dow Jones industrial average posted a gain of nearly 18 points, while both the S&P 500 and Nasdaq slid about 0.3%.

First Published: November 5, 2014: 5:28 AM ET

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Jetpacks are real. And they're awesome

NEW YORK (CNNMoney)

Jetpacking may sound like something out of a science fiction film, but I experienced firsthand why it's an activity that's quickly gaining popularity among thrill seekers worldwide.

Don't feel bad if you've never heard of jetpack rides. They've been around for just a few years and are only available in a limited number of warm weather locales. But the plunging price tag for jetpacks could expand the water sport's appeal.

How was it? In a word, thrilling. My experience at Jetpack America in Newport Beach, Calif. was a lot of fun despite the somewhat unnerving initial feeling that naturally goes along with strapping on a 30-lb. pack and jumping into the water.

There's definitely a learning curve that goes with this water sport. Think: not as simple as hopping on a jet ski but not as difficult to get the hang of as surfing.

After a few minutes of learning the basics, I managed to take off, fly a few feet above the water and make basic turns. Ten minutes later I was able to soar about 25 feet in the air and dive beneath the surface.

Of course, this wouldn't have been possible without a comprehensive training course that put me at ease.

It was also hugely helpful to have an instructor in my ear at all times calmly telling me what I was doing right -- and wrong. The training and supervision from multiple instructors and requirement to wear a life jacket also made the whole experience feel safer than it may sound at first blush.

Related: Branson still plans to be first space passenger

How does it work? The jetpack is powered by a jet ski or a pod that sucks up huge amounts of water and shoots it to the jetpack through a hose. An instructor or the user then controls the throttle, regulating how much water propels the rider.

"It's truly the newest water sport out there. There really hasn't been anything since the jet ski or parasailing," said Dean O'Malley, president of Jetpack America.

It's not cheap. Flights at Jetpack America range between $99 for a 10-minute flight and $699 for a 60-minute "James Bond Flight Experience" that includes premium video (three GoPro (GPRO) cameras), a T-shirt and a hat.

My 25 minutes of flying time ($169 on Groupon (GRPN)) felt about right because the learning process was tiring.

The lofty price tag stems from the fact that until recently, jetpacks retailed for an eye-popping $100,000. That's not even counting the $10,000 to $20,000 in liability coverage each unit carries.

Related: Floating train could whisk you from DC to NY in an hour

Cheaper prices propel expansion: However, jetpacks manufactured by Shanghai-based X-Jetpacks are now selling for $9,500 plus the additional cost of a jet ski.

"If you look at the numbers, very quickly you can pay off the initial investment and be operating under a strong cash flow positive business," said O'Malley.

The toughest part is finding the perfect location that offers a constant stream of thrill seekers and warm weather.

For obvious reasons, Florida is already a popular place for jetpack operators. Jetpack America has locations in Newport Beach and San Diego, plus it recently expanded to Las Vegas.

Liftoff mode? Thanks to the lower prices, the company is also looking at expanding north to seasonal spots like San Francisco, Seattle and even Vancouver. It provides training and equipment for new entrants to the jetpack market all over the world, including Cabo San Lucas, the Cayman Islands, Singapore and Vietnam.

"We've done so much to expand the awareness and grow the sport but we haven't hit that tipping point where it's truly mainstream, which is frustrating. It's also exciting knowing that there is that next level we will hit at some point," said O'Malley.

Jetpack America leans heavily on Facebook (FB, Tech30), Instagram and YouTube to drum up interest. The company also sports lofty rankings and lots of positive reviews on sites like Yelp (YELP) and TripAdvisor (TRIP).

Eventually, jetpacking could achieve lift off and gain enough popularity to take a piece of the $646 billion that Americans spend on outdoor recreation each year.

"It's the perfect kind of attraction for the generation that requires a little more stimulus to keep their pulses going," said Jess Ponting, a tourism professor at San Diego State University.

First Published: November 5, 2014: 7:08 AM ET

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JPMorgan facing criminal probe over currency trades

HONG KONG (CNNMoney)

The largest U.S. bank by assets made the disclosure Monday in a regulatory filing. JPMorgan (JPM) said that other regulators, including the Commodity Futures Trading Commission and the U.K. Financial Conduct Authority, are pursuing civil investigations.

The bank said it was cooperating with the regulators, and was engaged in active discussion with the DOJ. "There is no assurance that such discussions will result in settlements," the filing cautioned.

The firm, led by CEO Jamie Dimon, also hiked one estimate of the possible costs of current legal proceedings against the bank to $5.9 billion.

JPMorgan (JPM) is far from the only bank under investigation for possible foreign currency market abuse. Financial regulators have been looking into whether the banks sought to manipulate interest rates, with internal and external probes involving UBS (UBS), Deutsche Bank (DB), Barclays (BCS) and the Royal Bank of Scotland (RBS), among others.

The disclosure from JPMorgan comes as U.S. officials turn up the heat on big banks.

Related: Forex fraud: Now it's getting serious

JPMorgan acknowledged the changing climate in the regulatory filing, saying that U.S. government officials have "emphasized their willingness to bring criminal actions against financial institutions" in recent months.

"Such actions can have significant collateral consequences for a subject financial institution, including loss of customers and business and the inability to offer certain products or services or operate certain businesses for a period of time," the bank said.

First Published: November 4, 2014: 5:11 AM ET

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Stocks: 5 things to know before the open

LONDON (CNNMoney)

Here are the five things you need to know before the opening bell rings in New York:

1. It's all about Alibaba: Alibaba (BABA, Tech30) is set to release its first earnings report since its mega IPO. Investors are eagerly anticipating the results. Alibaba is now worth more than Wal-Mart.

2. More earnings: Plenty of other companies will also be releasing quarterly results. Other big names reporting before the opening bell include Burger King (BKW), Office Depot (ODP), Estee Lauder (EL) and CVS Health (CVS).

21st Century Fox (FOX) will report after the close.

3. Elections and economics: Midterm elections have arrived in the U.S. The results will determine what President Obama can get done in his final two years in office. They will also tee up the 2016 presidential contest.

The European Commission slashed its expectations for eurozone growth in its latest autumn economic report. The commission now expects the economy will grow by only 0.8% this year, 1.1% in 2015 and 1.7% in 2016. It also gave major downgrades to the outlook for the two largest eurozone economies — France and Germany. The eurozone continues to struggle with terribly low inflation and high unemployment.

At 8:30 a.m. ET, the U.S. Census Bureau will release September data on the trade balance.

4. Market moves: U.S. stock futures were moving lower ahead of the open and European markets were also declining. The market mood appeared to have soured after the economic forecast came through from the European Commission.

U.S. stocks closed little changed on Monday. The Dow slipped 24 points and the S&P 500 barely budged. The Nasdaq was up just shy of 0.2%.

5. Turning Japanese: The Nikkei topped 17,000 in early trading — a level not seen since 2007 — as investors continued to cheer the Bank of Japan's decision to inject more cash into the economy. The Japanese yen continues to weaken versus the U.S. dollar.

First Published: November 4, 2014: 4:54 AM ET

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Starwood hotels let you unlock your hotel room with your phone

NEW YORK (CNNMoney)

Starting Wednesday, guests will be able to use their smartphones as room keys at ten Starwood hotels (HOT) around the world. The technology will be available in all 150 Aloft, Element, and W Hotels by early next year.

"My mobile device now is like my remote control for life," Starwood Hotels and Resorts CEO Frits van Paasschen told CNNMoney. "There's no reason why that shouldn't be your portal to get to your room, ask for what you want, or anything else."

Guests can check in using the Starwood app. They receive their room number and Bluetooth key. That means they can bypass the front desk and head straight to their room.

Related: Harry Potter hotel website crashes

To open the hotel door, it's as simple as holding the phone up to the door lock and waiting for a click.

Van Paasschen says mobile keys are a safer option for guests.

"If you lose your mobile device, you notice right away. If you have to use your passcode to get into your phone, even if someone finds your phone they can't get into your room." van Paasschen said.

Starwood, the parent company of Sheraton, Westin, and St. Regis hotels, is not the only chain trying to make key cards obsolete. Hilton (HLT) is working on a similar technology.

And most major hotel chains are funneling money into improving their apps and mobile services. They're betting on mobile options like check-in and check-out to win over millennials. Apps may also provide a better way to sell room service, upgrades, and other offerings.

Related: How much should you tip housekeeping?

Starwood says mobile keys and check-in are just an initial step in its mobile plans.

"We're increasingly going to upgrade the functionality of the app so you can do things like tell us where you are and what you want," van Paasschen said. "We can start to send you offers targeted to exactly what you want."

First Published: November 4, 2014: 6:45 AM ET

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Singapore tops the list of best places to do business

Singapore is the best place to do business, the World Bank said.

LONDON (CNNMoney)

No wonder, then, that the tiny island nation tops the World Bank's ranking of the best places to do business in the world -- for the ninth year in a row. New Zealand and Hong Kong ranked second and third on the list.

The report notes that business owners in Singapore spend an average of 82 hours a year trying to resolve tax issues. That's half as much as the 175 hours that business owners spend dealing with tax issues in the U.S., which ranked seventh on the list.

It praises New Zealand for an efficient planning system that makes it easy for people to get a business off the ground and cites Hong Kong's low corporate tax rate.

Switzerland entered the top 20 for the first time after it passed new rules protecting minority shareholders.

The good news is that 80% of the 189 countries the World Bank ranked have improved their scores since last year.

Tajikistan, Benin and Togo are three countries that showed the most improvement.

Benin, which jumped 16 spots to number 151, passed new laws protecting minority shareholders, while Togo climbed 15 spots to 149, after making it easier to get a construction permit. Tajikistan moved up nine spots to 166.

Here are the top 10:

1. Singapore

2. New Zealand

3. Hong Kong

4. Denmark

5. Korea

6. Norway

7. United States

8. United Kingdom

9. Finland

10. Australia

First Published: November 3, 2014: 5:31 AM ET

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Wall Street donors dump Democrats

Wall Street isn't digging the Democratic party right now.

NEW YORK (CNNMoney)

A record 63% of the political contributions from employees and corporations in the banking and investment sectors went to Republicans this election cycle, according to data from the Center for Responsive politics. It's the largest dollar figure ($78 million) and percent for the GOP in any midterm election.

The donations are likely based on a bet that Republicans have the best shot at victory on Tuesday.

Related: Wall Street predicts GOP mid-term victory

"You want to be with the winner," said Dorsey Farr, co-founder of French Wolf & Farr, an investment advisory firm in Atlanta. "A lot of times you'll see companies give to both parties. If they see the tide turning, they'll go with the flow."

The figures don't include money channeled through political action committees, which have played an increasingly prevalent role in campaign finance in recent years.

But the boosted election expenditures from the financial world this time around also have to do with the fact that the Democratic Party has turned up the heat on Wall Street since the financial crisis.

"Democrats are just more of the regulatory party," said Ray La Raja, a political science professor at the University of Massachusetts - Amherst, adding that they used to be more amenable to the things Wall Street cared about.

Related: Complete coverage of the 2014 midterms

"In the past bankers could work with any party. Now, all things equal, they'd rather work with Republicans," he claimed.

But beyond the strategic calculations, there's also a philosophical element, with many on Wall Street having grown tired of being punished for their industry's past deeds.

Almost all of the major banks have paid out unprecedented multi-billion settlements in recent years for their role leading up to the financial meltdown.

They've also become a political punching bag.

Early in his first term, President Obama famously contended that he didn't get elected to help out "a bunch of fat cat bankers on Wall Street." And he's repeatedly tried to close tax loopholes that benefit hedge fund and private equity managers.

"Wall Street feels rightly or wrongly like they've been demonized by this administration," asserted La Raja.

But it doesn't really matter to most people whether or not a bunch of investor types have had their feelings hurt.

Related: Millionaire tax on the ballot in Illinois

In fact, the populist backlash against Wall Street excess still plays a prevalent role in politics. In a recent interview with Salon, prominent Senator Elizabeth Warren (D-Massachusetts) lambasted the president's economic team for picking Wall Street over Main Street.

And possible 2016 Democratic presidential candidate Hillary Clinton had to backpedal from comments she made at an event earlier this month in which she told the crowd, "don't let anybody tell you that it's corporations and businesses that create jobs."

Warren spoke at that same event, and political commentators were quick to speculate that Clinton was appealing to her party's left leaning, anti-Wall Street base.

According to La Raja, the populist theme will continue to resonate with voters into the 2016 Presidential election as long as the economic recovery remains sluggish for many Americans.

Related: Will this get millennials to buy homes?

On the other hand, "If all engines are running and the economy is doing well, populism dies."

Still, it's not as if Wall Street has totally abandoned Democrats. Senator Cory Booker (D-New Jersey) was the top recipient of contributions from members of the investment community this election, having raked in almost $1.9 million.

Charles Schumer (D-New York), traditionally a friend of Wall Street who sits on the the influential Senate Finance Committee, pulled in about $850,000.

"I'm sure they're not going to piss off a powerful Democrat," La Raja said of big Wall Street donors.

First Published: November 3, 2014: 7:28 AM ET

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Stocks: 3 things to know before the open

Click chart for in-depth premarket data.

LONDON (CNNMoney)

Here are three things you need to know before the opening bell rings in New York:

1. Timid trading after stocks hit records: It looks like stocks could start the month on the back foot after October's fireworks. U.S. futures are edging lower and there's a lack of direction in the markets.

European markets were edging lower in early trading. Asian markets ended with mixed results.

October was an explosive month, ending with a bang on Friday. The Dow, S&P 500 and Nasdaq rallied by more than 1% on Halloween. Both the Dow and the S&P 500 closed at record highs and the Nasdaq is at its highest point since the March 2000 Dot-com peak.

The latest reading on the CNNMoney Fear & Greed index shows investors are still feeling fearful, but the extreme fear from mid-October has been shaken out of the markets.

Related: Faster Internet access in the middle of the ocean

2. Earnings: Sysco (SYY) and Sprint (S) will report quarterly earnings before the opening bell. Herbalife (HLF) will report after the close.

L'Oreal (LRLCF) is expected to report after the close of trading in Paris.

HSBC (HSEA) reported earnings in the early morning. Third quarter underlying pre-tax profit fell 12%, in part because the global bank set aside $378 million to cover its exposure to an investigation into alleged rigging of the foreign exchange market. Its shares were about 0.5% lower in London trading.

3. Economics: The ISM Manufacturing Index is set to come out at 10 a.m. ET. At the same time, the U.S. government will report monthly construction spending.

Throughout the day, automakers will be releasing data on October car and truck sales.

New monthly data from HSBC and Markit show the Chinese manufacturing sector is just barely growing. The HSBC Purchasing Managers' Index came in at 50.4 in October, up from 50.2 in September. A number over 50 indicates growth, while a number below 50 indicates contraction.

First Published: November 3, 2014: 5:08 AM ET

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How I taught my kids to invest

The Ellerbroek family.

NEW YORK (CNNMoney)

That's the message Angie Ellerbroek is instilling in her three children. They are all under 12-years-old, but they already own stock.

"We're middle class of the middle class," Angie, who lives in the Midwest, told CNNMoney. "We live within our means. We don't buy new vehicles."

Angie and her husband were frustrated that their childrens' saving accounts were making a mere 0.17% a year in the bank. In other words, nothing.

They had worked hard to save up a bit of money for their kids -- about $1,500 for each child. In the fall of 2011, Angie had an epiphany: It was time to put the savings in the stock market.

"I explained everything to the kids before investing their savings, and they were on board," she said.

Related: Who's getting rich off the stock market?

Each child started by putting money into one stock -- something they had a connection to.

"I bought Apple (AAPL, Tech30) for my son because he loves computers. I bought Disney (DIS) for one daughter because she loves Disney movies. And for my youngest I bought Honeywell (HON)because she was sick and taking spoons of honey for her cough, and we have a Honeywell thermometer," she explained.

Angie also got into the action, purchasing shares of Toyota (TM) since she believed it was a strong brand in 2011 and the recall crisis seemed to be behind it.

Related: Is Apple the perfect stock?

Investing is now dinner table conversation -- and a fun game as the entire family follows the market. While the Ellerbroeks have a friendly competition going to see who has gained the most each week, the reality is everyone is doing very well -- certainly better than they would have if they kept their money in the bank.

The daughter invested in Disney has the most bragging rights. She is up over 140%. The son in Apple is up 85% and even got to experience a stock split earlier this year. The youngest daughter is up close to 70% -- roughly on par with the S&P 500 return since her initial investment.

Bringing up the rear is mom, although Angie isn't complaining about her 67% return either.

"Regardless of our unrealized gains, it's been a good lesson for the kids to watch their investments," Angie said.

The family has since diversified the investment portfolios somewhat, although they don't see the kids' funds as particularly risky since the plan is to keep the money in the market for a long time.

Angie knows the benefits only too well. An aunt who worked hard for UPS (UPS) and didn't have any children of her own would occasionally gift her nieces and nephews stocks. Angie received her first one when she around age 10 or 12.

"When I grew up and used it, I had about $80,000 that had accrued and split so many times. That helped us buy our first house," Angie said.

It was a better lesson about money -- and the power of investing over time -- than any she has learned in the classroom. Now her kids are learning too.

First Published: November 1, 2014: 8:08 AM ET

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Branson: The dream of space tourism lives on

NEW YORK (CNNMoney)

"We are determined to know what went wrong and are working closely with authorities to get that information," Branson said Saturday at a press conference in the Mojave Desert, near the site of the accident.

From CNN: 1 dead, 1 injured in SpaceShipTwo test flight failure

Branson continued to express sorrow for the loss of life. But he also addressed a question on many people's mind: Will Virgin continue its space tourism business?

"We're going to learn what went wrong, discover how we can improve safety and performance and then move forward together," Branson said. "Four hundred engineers who work here and most people in the world would love to see the dream living on."

Commercial flights were set to start in 2015.

The Virgin Galactic spaceship that exploded Friday cost nearly $500 million to develop.

Virgin has sold more than 700 tickets to space already, each costing more than $250,000, for future flights. Several celebrities have already signed up, including Justin Bieber, Ashton Kutcher, Leonardo DiCaprio and Stephen Hawking.

Anyone who has bought a ticket and is now nervous about space flight will be able to get a full refund, Branson assured. The company has received more than $80 million from bookings.

The special plane is called SpaceShipTwo, and it was designed to carry six passengers.

Virgin Galactic has planned for years to sell trips to transport passengers about 62 miles above Earth -- the beginning of outer space -- and let them experience a few minutes of weightlessness before returning.

Friday's mission was SpaceShipTwo's solo flight number 35, according to the company. A specialized jet carried it into the air and then the crafts separated at 50,000 feet.

They disconnected normally, but within minutes, the spaceship experienced "an in-flight anomaly," Virgin Galactic said.

The plane was designed and built by Mojave-based Scaled Composites, a subsidiary of defense contractor Northrop Grumman (NOC).

The project operates under the wing of The Spaceship Company, a venture that's jointly owned by Branson and Abu Dhabi's Aabar Investments PJS.

"Space is hard and today was a rough day," Virgin Galactic CEO George Whitesides said Friday.

The deadly accident marked the second time in a week that a private U.S. space company suffered a major loss. On Tuesday, a NASA contractor -- the Orbital Sciences Corporation (ORB) -- blew up its own unmanned Antares rocket when it started to malfunction. It was bound for the International Space Station with 5,000 pounds of supplies and experiments.

The space community showed signs of solidarity after Friday's explosion.

Elon Musk, CEO of SpaceX, sent his sympathies over Twitter to the families of the pilots and the Virgin Galactic team.

NASA Administrator Charles Bolden also offered condolences.

"Space flight is incredibly difficult, and we commend the passion of all in the space community who take on risk to push the boundaries of human achievement," he said.

--CNN's Jason Hanna and CNNMoney's Octavio Blanco, Katie Lobosco and Jose Pagliery contributed to this report.

First Published: November 1, 2014: 2:38 PM ET

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NBC is developing a reality show with Virgin Galactic

NEW YORK (CNNMoney)

The network declined to comment. But according to Deadline, NBC is now "gathering information on the situation" regarding the reality series.

During a test flight, a "serious anomaly" caused Virgin's commercial space craft to explode over the Mojave Desert, killing one and seriously injuring another.

The show -- which was announced last year -- is an exclusive series between NBC, Virgin founder Richard Branson and reality TV super-producer Mark Burnett.

NBC described the show as an elimination competition in which normal people would compete with one another for "the ultimate prize" -- a flight into space on Virgin Galactic's SpaceShipTwo.

The series would also have "unprecedented access" to Virgin Galactic's Spaceport America facilities in New Mexico, where contestants would train for their winning flight, according to a press release issued last year.

Related: Virgin Galactic spaceship explodes

Virgin Galactic's plan for the $500 million spaceship is to transport passengers 62 miles above Earth where the planet meets the onset of space.

The flight reportedly would cost guests upward of $250,000 and celebrities like Leonardo DiCaprio and Stephen Hawking have signed up for tickets.

For Burnett -- the producer behind reality hits like "Survivor" -- "Space Race" is another attempt to accomplish his dream of using a TV show to send everyday people into space.

"I am thrilled to be part of a series that will give the everyday person a chance to see space," Burnett said last year. "NBC has come on board ... so that viewers at home will have a first class seat."

First Published: October 31, 2014: 6:40 PM ET

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