Briefs: Coke sees sales volume fall in Europe and China

Coca-Cola is facing a tough time: People are drinking less soda in the U.S. and Europe.

Profits rose in the fourth quarter, helped by two extra selling days for the period. But sales volume fell in China and Europe, reflecting a pullback in consumer spending. In North America, its biggest market, volume rose just 1 percent, boosted by its Powerade sports drinks and bottled teas. Coke sold 2 percent less soda.

-- The Associated Press

Government has surplus of $2.9 billion in January

The federal government reported a rare surplus for January and is on track to run the lowest annual deficit since President Barack Obama took office.

The Treasury Department said Tuesday that the government took in a surplus of $2.9 billion in January, helped by nearly $9 billion more in Social Security taxes. Last month Congress and the White House allowed a temporary cut in Social Security taxes to expire. Through the first four months of the 2013 budget year, the deficit has grown $290.4 billion, nearly $60 billion lower than a year ago.

-- The Associated Press

Intel hopes to replace cable TV with Internet

Intel Corp. said Tuesday that it will sell a set-top box that brings Internet-delivered movies and shows to a TV set this year.

There are various boxes today that bring Internet content to TV sets like those made by Roku and Apple. But Intel wants to make its box and streaming service a replacement for cable. It hasn't said what the service would cost, or when this year it would be available.

-- The Associated Press

Group of Seven fears currency manipulation

The Group of Seven leading industrial nations, which includes the U.S., Japan and Germany, warned Tuesday that volatile movements in exchange rates could adversely affect the global economy.

The warning comes amid concerns that countries might manipulate rates through their domestic economic policies to gain an edge. This could spark a "currency war" -- where countries compete to get the lowest exchange rates.

The G-7 finance ministers said they remain committed to rates driven by the market -- not government or central bank policies.

-- The Associated Press

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