Obama pushes for increases in family leave, sick pay benefits

New York Times: President Obama will announce today that he is directing federal agencies to give their employees up to six weeks of paid leave after the birth or adoption of a child, a benefit he wants to extend to all American workers.He will also call on Congress to pass a bill that would allow workers across the United States to earn up to seven paid sick days a year and would create a $2 billion incentive fund to help states pay for family leave programs, officials said late Wednesday.

Caesars unit files for bankruptcy

CNN Money: Caesars Entertainment’s luck has finally run out. The operating unit of the troubled casino and hotel operator has filed for bankruptcy protection under Chapter 11 of the U.S. Bankruptcy Code. Caesars Entertainment Operating Co. and several U.S. subsidiaries lodged the filing in a Chicago court this morning. The group, which runs Caesars Palace and scores of other properties in the U.S. and offshore, said the move will cut debt by $10 billion. Chapter 11 is the last resort for the firm’s lengthy financial struggles, which began after a buyout by Apollo Management and TPG Capital in 2008.

Target to end Canadian operations 

CNN Money: Target Corp. announced today it is shutting down its Canadian operations, which include 133 stores that employ 17,600 people.The Minneapolis-based retailer said it reviewed its Canadian subsidiary’s performance and concluded that it could not be profitable in the long run. The company expects to report a loss of about $5.4 billion in the fourth quarter, driven largely by Target Canada’s poor performance. The retailer said the decision to close up shop in Canada will increase its earnings in the current fiscal year, and boost its cash flow in the years ahead.