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Apple raises starting wage, Boeing Starliner completes test, Justin Timberlake sells music catalog

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Notable business headlines include tech giant Apple increasing the starting wage for its employees, Boeing Starline concluding a critical test, and Justin Timberlake selling his music catalog for more than $100 million.

Video Transcript

JULIE HYMAN: Here's some other headlines we're watching right now. Apple employees, they're getting a raise. Multiple sources say the tech giant is set to increase its starting wage for employees to 22 bucks an hour. That's up from 20. Apple also will reportedly boost its overall budget for pay. The move comes as Apple and many other businesses deal with a rise in unionization. Apple has seen such efforts among its retail workers at some New York City locations. And another headline on Apple today, the company set to keep iPhone production levels at roughly the same as last year, indicating the company expects to see similar demand despite inflation and an economy in turmoil.

Boeing's Starliner spacecraft landed safely back on Earth. The unmanned capsule touched down at around 7:00 PM Eastern yesterday, concluding a critical test for Boeing and for NASA, as they look to reduce the reliance on SpaceX for missions to the International Space Station. The Starliner did see delays over several years, but it is seen as critical to keep Boeing competitive in the space race.

And pop icon Justin Timberlake is selling his song catalog for more than $100 million to a partnership that includes a Blackstone-backed private equity firm. The partnership, which includes British music rights firm, Hypnosis, will own the singer's existing catalog, including songs from his days with the boy band, NSYNC. The agreement does not include future songs from the performer. And the move comes as musical rights remain a hot, hot target for acquisitions. We have seen many, many artists do this over the past year.

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