Ruling: McDonald's liable for workers

The general counsel of the National Labor Relations Board ruled that McDonald's can be held jointly liable for labor and wage violations by its franchise operators — a decision that, if upheld, would disrupt longtime practices in the fast-food industry and ease the way for unionizing nationwide. Some legal experts described it as a far-reaching move that could signal the labor board's willingness to hold many other companies to the same standard of "joint employer," making businesses that use subcontractors or temp agencies at least partly liable in cases of overtime, wage or union-organizing violations. McDonald's said it would contest the decision.

Longtime Toys 'R' Us financial chief dies

One of Louis Lipschitz's favorite office decorations was a framed drawing of the Toys 'R' Us mascot, Geoffrey the Giraffe, celebrating amid a shower of dollar bills. Lipschitz, 69, who helped Toys 'R' Us manage its money for 18 years and who was credited with keeping the company's finances strong until his retirement 10 years ago, died Saturday after a brief illness. Lipschitz, the former chief financial officer of Toys 'R' Us and a member of the board of directors of the Children's Place Inc., played a crucial role in helping Toys 'R' Us grow from 300 stores and annual sales of under $2 billion in the 1980s to more than 1,600 stores and $11 billion in revenue when he retired in 2004. .

Japan stock index set to eject Sony

Sony is poised to be rejected from Japan's government-backed stock index starting in January. The JPX-Nikkei Index 400 picks companies with the best operating income, return on equity and market value to shame executives of those it excludes into boosting profit and shareholder returns. Japan's biggest consumer-electronics maker will be kicked out when the gauge reassesses its constituents next month, according to UBS AG, Goldman Sachs and at least four other brokerages, as losses create negative return on equity that dwindling operating income and market value no longer counter.

Met Museum president to retire

Emily Kernan Rafferty, the first woman appointed president of the Metropolitan Museum of Art in New York, will retire next year after a career that spanned almost four decades at the largest U.S. art institution. Rafferty, 65, joined the Met in 1976 and rose through the ranks to become its president in 2004. During her tenure, the museum opened new Islamic art galleries and completed the redesign and expansion of its American wing and European galleries. She will step down at the end of March 2015, the museum said.

BlackBerry buys anti-eavesdropping tool

BlackBerry, pushing further into security services, agreed to buy Secusmart GmbH, a provider of anti-eavesdropping technology whose clients include German officials such as Chancellor Angela Merkel. Secusmart, a Dusseldorf-based company that had a partnership with BlackBerry, makes voice and data encryption for mobile phones. Financial terms weren't disclosed. The acquisition is BlackBerry's first since the hiring last November of Chief Executive John Chen, who vowed to cut losses by focusing on services to corporations and governments. The deal is subject to regulatory approval.

Democrats lash out at firms that leave U.S.

"Inversions" have been the subject of congressional hearings and legislation to eliminate the loophole that lets companies lower their tax rate by moving headquarters overseas. Now, a group wants to stop any company that incorporates overseas from doing business with the government. The No Federal Contracts for Corporate Deserters Act would bar contracts from going to companies that reincorporate, are at least 50 percent owned by U.S. shareholders and have no substantial business in the foreign country where they are incorporated. "We ought to put a stop to all inversions, but at the very least, we should stop these companies from receiving federal funding from the same American families who have to pick up the tax burden inverted companies shrug off," said Sen. Carl Levin, D-Mich., who introduced the bill with Sen. Richard Durbin, D-Ill. Reps. Rosa DeLauro, D-Conn., and Lloyd Doggett, D-Texas, introduced a companion bill.

FROM NEWS SERVICES