NEW YORK (CNN) -- CNN Money's Maribel Aber has your top business and financial news on this Thursday, August 29.
Fast-food workers to strike in 50 cities
Fast-food workers in 50 cities are expected to walk off their jobs Thursday in the largest-ever strike to hit the $200 billion fast-food industry-sextupling the number of cities from earlier walkouts. Workers will go on strike in every region of the continental United States, as the fight for $15 an hour and the right to form a union without retaliation or unfair labor practices continues to grow. Workers are expected to strike at the nation's major national fast-food restaurants, including McDonald's, Burger King, Wendy's and KFC. Retail workers at stores like Macy's, Sears, Victoria's Secret and Walgreens also went on strike in some cities.
Many highly paid CEOs end up as failures, report says
Nearly 40% of the nation's best-paid CEOs over the past two decades were either fired, forced to take government bailouts or in charge of companies that paid huge amounts in fraud-related claims. That's the conclusion of a report Wednesday that attempts to gauge the link between weak corporate performance and skyrocketing executive pay. The study "Executive Excess 2013: Bailed Out, Booted, Busted," was issued by the liberal Institute for Policy Studies in Washington. It's the latest in a years-long line of reports by the IPS and other groups charting alleged abuses in executive pay.
Oil prices rise, but gas is a different story
Oil prices are spiking on Syria tensions and oil outages across the broader region, but that doesn't mean gasoline prices will follow suit. U.S. oil prices have soared nearly 8% in the last week alone, touching $112.24 a barrel in overnight trading -- their highest level in over two years. The fear is that Western intervention in Syria over that country's suspected use of chemical weapons could engulf major oil producing countries in the region such as Iraq or Iran.
Forget iPads. Here's why the iWatch could be your next smart home controller
With news breaking yesterday that Apple AAPL +0.81% had the forethought to file a patent five years around smart home control scenarios with the iPhone, there's no doubt that the prescient company from Cupertino has probably spent a development cycle or two - if the rumors about the iWatch are indeed true - on how a smartwatch could be a key part of the smart home. And truth be told, they wouldn't be the only ones. Existing smartwatch makers have told me in interviews I've done for Smartwatch.FM that they're are looking at ways to connect their smartwatches to the smart home.