CNN Money: Top business headlines for June 12

    6:29 AM, Jun 12, 2013   |    comments
    • Share
    • Print
    • - A A A +

    NEW YORK (CNN) -- CNN Money's Maribel Aber has your top business and financial news on this Wednesday, June 12.

    Top paid CEO in U.K. is an American woman
    Who says the fashion industry doesn't pay? New research shows Burberry boss Angela Ahrendts was the highest paid CEO in the U.K. last year, raking in a total of £16.9 million ($26.3 million). The latest pay package details were revealed in an annual survey by corporate governance firm Manifest and remuneration consultancy MM&K. It's the first time since the survey was launched 15 years ago that a woman has taken the top spot.  

    Beer taxes: Why six-packs are pricier in some states
    Every state imposes a tax on beer, but the amount each state charges varies widely. Buy a six-pack of beer in Tennessee and you'll pay 66 cents towards state beer taxes. Yet, right across the border in Missouri, the tax drops to mere pennies. Tennessee, which happens to be the heart of whiskey country, claims the top spot, due to combined excise and wholesale taxes that push the tax burden for consumers to $1.17 per gallon, or 66 cents per six pack, according to the Tax Foundation's analysis of beer-specific statewide taxes.

    Apple adding 'kill switch' to iPhones
    It's called "Apple picking," a growing wave of crime in which thieves target mobile devices, particularly iPhones and iPads. Now the company that gave the crime its name is taking a step to stop it, with a "kill switch"-style update aimed at making the mobile gadgets less valuable to thieves. Activation Lock will be part of iOS 7, the latest version of Apple's mobile operating system expected to roll out in the fall. The feature will require an Apple ID and password before the phone's "Find My iPhone" feature can be turned off or any data can be erased.

    Sleepy bank clerk's $293 million error
    Dozing at your desk can be costly. Power napping has many fans, but falling asleep at the desk could have cost one German bank millions and an employee her job. A bank clerk nodded off for a second while processing a transfer request and held down the number 2 on his keyboard, changing the amount from 62.40 euros to 222 million euros ($293 million) or 222, 222, 222.22 euros exactly, according to testimony before a German court. The mistake was spotted and corrected by a routine internal system check, but not before the pensioner's payment request had been approved by a colleague.


    Most Watched Videos