Business briefs: Subway apologizes for short sandwiches

Subway apologizes

for short sandwiches

NEW YORK -- Subway is apologizing that its "foot-long" sandwiches fell short of expectations but declined to comment on a lawsuit filed this week by two New Jersey men over subs that didn't measure up.

The world's largest fast-food chain faced widespread criticism after a man posted a photo online showing a "foot-long" that measured 11 inches.

Subway said Friday that it's redoubling efforts to "ensure consistency and correct length" in all its sandwiches.

-- The Associated Press

Rebound plan paying off

for Procter & Gamble

NEW YORK -- Procter & Gamble is turning a corner. After losing to competitors in recent years, P&G reported Friday that its fiscal second-quarter profit more than doubled as a plan launched last year to lower costs and roll out new products boosted its bottom line. It's the second straight quarter that P&G beat Wall Street estimates.

--The Associated Press

New-home sales decline

but wrap up strong year

WASHINGTON, D.C. -- Sales of new U.S. homes cooled off in December compared with November, but for the entire year they were the best since 2009. The Commerce Department said Friday that new-home sales fell 7.3 percent last month to a seasonally adjusted annual rate of 369,000. That's down from 398,000 in November.

For the year, sales rose nearly 20 percent to 367,000. That's the most since 2009, although the increase is coming off the worst year for new-home sales since the government began keeping records in 1963. Sales are still below 700,000, the mark that economists consider healthy.

-- The Associated Press

Verizon and AT&T strike

deal for airwave space

Verizon Wireless said Friday that it's selling space on the airwaves to AT&T in exchange for $1.9 billion and the transfer of some airwave rights from AT&T.

The sale will let AT&T expand capacity for wireless broadband in areas including Chicago, Los Angeles, Miami, Oklahoma City and Cincinnati. In return, Verizon gets other frequencies in Los Angeles; Fresno, Calif.; Phoenix; and Portland, Ore.

The deals are part of a yearlong spectrum reshuffling. AT&T wants more spectrum while Verizon wants to make its wireless service easier to use.

-- The Associated Press

Looking for comments?