Microsoft Corp. will pay $14.4 million in California to settle allegations that it discriminated against employees who took protected leave from work.

The California Civil Rights Department announced the terms of the proposed settlement Wednesday.

The agreement is subject to court approval. State investigators say employees who took family, parental, disability or other protected leave received lower bonuses and unfavorable performance reviews.

Microsoft said the agency’s allegations are inaccurate but that it will continue to listen to and support its workers.

As part of the proposed settlement, Microsoft will take steps to prevent future discrimination, including updated manager training.

An outside consultant will monitor and report on the company’s compliance.

Most of the settlement money — $14.2 million — will go toward harmed workers. Covered employees worked at Microsoft from May 13, 2017, to a yet-to-be-determined date of court approval for the settlement, and who took at least one leave protected under state or federal law.

Each eligible employee will receive a base payment of $1,500, with more available based on factors such as salary and length of employment.

Saks Fifth Avenue owner nears $2.65 billion deal

The owner of Saks Fifth Avenue is close to acquiring Neiman Marcus Group for $2.65 billion, according to sources. The deal would unite America’s two largest high-end department store chains in a bid to grab a bigger share of a slowing industry.

Amazon.com and Salesforce will help facilitate the deal by Saks owner Hudson’s Bay Co. The tech companies will take minority stakes in a new company, called Saks Global. Hudson’s Bay also will finance the deal with $2 billion raised from investors.

Representatives for Hudson’s Bay, Salesforce and Amazon declined to comment.

A spokeswoman for Neiman Marcus didn’t respond to requests for comment.

The combined operations would include 39 Saks Fifth Avenue stores and 36 locations under the nameplate of its Dallas-based competitor, as well as two Bergdorf Goodman stores in Manhattan. Both chains also have outlet stores.

Job openings increase from a three-year low in the US.

U.S. job openings unexpectedly rose in May, interrupting a monthslong downtrend that underscored a gradual slowdown in labor demand.

Available positions increased to 8.14 million from a downwardly revised 7.92 million reading in the prior month that was the lowest in three years, the Bureau of Labor Statistics Job Openings and Labor Turnover Survey, known as JOLTS, showed Tuesday. The median estimate in a Bloomberg survey of economists called for 7.95 million openings.

Both hiring and layoffs picked up in a sign of churn in the job market. The quits rate was unchanged.

The number of vacancies per unemployed worker, a ratio the Federal Reserve watches closely, held at 1.2 and matched the lowest since June 2021. At its peak in 2022, the ratio was 2 to 1.

The May advance in job openings was driven by manufacturing, government and health care. Vacancies in accommodation and food services led all industries that declined.

Economists expect that trend to continue ahead of Friday’s jobs report, which was expected to show employers added about 195,000 payrolls in June and the unemployment rate held at 4%.

General Motors to pay $146 million in penalties

General Motors will pay nearly $146 million in penalties to the federal government because 5.9 million of its older vehicles do not comply with emissions and fuel economy standards.

The National Highway Traffic Safety Administration said Wednesday that certain GM vehicles from the 2012 through 2018 model years did not comply with federal fuel economy requirements.

The fine comes after the Environmental Protection Agency said its testing showed the GM pickup trucks and SUVs emit 10% more carbon dioxide on average than GM’s initial compliance testing claimed.

The EPA says the vehicles will remain on the road and cannot be repaired.

GM said in a statement that it complied with all regulations in pollution and mileage certification of its vehicles. The company said it is not admitting to any wrongdoing or that it did not comply with the Clean Air Act.

Compiled from Associated Press and Bloomberg reports.