INDIANAPOLIS (WISH) — Here’s a look at Tuesday’s business headlines with Jane King, who discusses a judge’s ruling on overtime pay and a Black Friday deal that makes Costco membership almost free.

Judge blocks Biden rule to expand OT pay to millions

Overtime pay for millions of workers has been blocked by a judge.

The Labor Department estimated that an additional 4 million lower-paid salary workers would become eligible for overtime protections in the first year under the new rule.

The judge agreed with businesses that the Labor Department exceeded its authority when it finalized a rule earlier this year to significantly expand overtime pay for salaried workers.

FTC: Older adults losing more money to fraud

The FTC says number of older adults who lost $100,000 or more to fraud has tripled since 2020.

Older adults most commonly lose such large sums of money to investment scams like those involving cryptocurrency, as well as romance and imposter scams.

Experts say there are three big and common red flags for consumers to look for: social isolation, a sense or urgency, and unusual payment methods.

TikTok parent company says it’s worth 300 billion dollars

TikTok’s parent company ByteDance is valuing itself at about $300 billion, after it recently approached investors about a share buyback program.

Reuters says ByteDance doesn’t plan an stock offering but is looking for investors to raise money.
Tiktok is still facing an uncertain future in the U.S.

Survey: 1 in 5 Americans get their news from influencers

About 1 in 5 Americans say they regularly get their news from “news influencers” on social media.

While previous research found more women consume news on sites including Facebook, Instagram and TikTok than men, the new Pew Research Center survey suggests close to 2/3 of news influencers are men.

Black Friday deal makes Costco membership almost free

If you’ve wanted to join Costco but thought the membership was too pricey, the retailer is offering a Black Friday deal that might change your mind.

It’s offering its Gold Star membership for just $65. It includes a one-year membership, plus a $45 Costco shop card for use on future purchases. The deal essentially cuts the price of a Gold Star membership to just $20.