Afternoon Coffee: Tight Labor Market Squeezes Retailers on Wages, Tipalti Releases Module for Preventative Fraud Monitoring

A tight labor market and the competitive holiday hiring season has spurred Target to raise its minimum wage to $11 an hour starting in October and $15 an hour within three years, the Wall Street Journal reports. The Minneapolis-based company said the new rate would apply to both permanent staff as well as the 100,000 temporary workers it plans to hire during the last quarter of the year.

Tipalti Detect

Payment automation provider Tipalti announced Tuesday it had added a module for preventative fraud monitoring to its accounts payable platform, according to a press release. Called Tipalti Detect, the module “tracks all payee activity and performs in-depth risk checks to flag suspicious activity, such as identifying payees with previously blocked behavior and multiple accounts.”

Amazon in India

Amazon has invested in retailer Shoppers Shop in India and will help the company add 25% more stores, Bloomberg reports. Amazon CEO Jeff Bezos said he has allocated $5 billion toward the company’s expansion in India.

Oil Prices

And finally, a commodities update: Oil prices broke the price threshold of $60 a barrel this week, Quartz writes, climbing almost 30% over the last three months.

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