Snapchat files for $20 billion+ IPO; United Airlines redefines the cheap seats, and more news

Snap has confidentially filed to IPO. The company formerly called Snapchat could go public as early as March, and is valuing itself at $20-25 billion — slightly less than the Wall Street Journal reported last month. Still, Snap is one world's most valuable unicorns, and co-founder Evan Spiegel's seemingly rash decision to decline a $3 billion offer from Facebook three years ago is looking pretty savvy now.

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United Airlines introduced a new, stripped-down service to better compete with no-frills carriers. "Basic economy" will be the cheapest seats on the flight, but there are catches: You'll be allowed only one carry-on (and it will have to fit under the seat); you will board last (which doesn't matter if you aren't fighting for overhead bin space); you can't pick your seat. Still, for people who fly on price, a race to the bottom is a good thing.

Walmart is "warning" employees not to use an app by an advocacy group which has tried to help its workers agitate for higher pay and improved benefits, the Wall Street Journal reports.The app, from OUR Walmart, allows "employees to chat among themselves and receive advice." Walmart says it's just a scheme to collect private information.

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Wage growth accelerated 3.9% in the 12 months ending in October, the fastest pace in eight years, as measured by the Atlanta Fed Wage Tracker. Other encouraging takeaways, per Bloomberg: Job switchers are seeing even greater wage growth, and more people are choosing to quit — evidence they believe "they'll be able to procure another position at better pay."

Paul Ryan won the backing of fellow House Republicans, all but ensuring he will be re-elected Speaker when the next Congress convenes in January. Democrats, however, delayed their leadership vote until after Thanksgiving, "a move that could spell trouble for longtime leader Nancy Pelosi," CNN reports.

Cover Art: Evan Spiegel (L) and Bobby Murphy, developers of Snapchat (Photo by J. Emilio Flores/Corbis via Getty Images)