Business briefs: Jobless claims average falls to 5-year low, Coca-Cola to cut 750 employees in U.S.

Posted Thursday, Mar. 21, 2013 0 comments  Print Reprints
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Jobless claims average falls to five-year low

WASHINGTON -- The number of people seeking U.S. unemployment aid barely changed last week, while the average over the past month fell to a five-year low. The decline in layoffs is helping strengthen the job market.

Weekly unemployment benefit applications rose by 2,000 to a seasonally adjusted 336,000, the Labor Department said Thursday.

Over the past four weeks, the average number of applications has dropped by 7,500 to 339,750. That's the lowest since February 2008, three months into the recession.

-- The Associated Press

Coca-Cola says it will

lay off 750 employees

NEW YORK -- Coca-Cola will cut 750 jobs in the U.S. as it continues to streamline its business.

The world's biggest beverage maker says the jobs cuts will be across the board and affected individuals will be notified in coming weeks. The cuts represent roughly 1 percent of the company's workforce of 75,000 in North America.

A spokesman says about a quarter of the cuts will be in Atlanta, where the company is based.

-- The Associated Press

Pants snafu still giving Lululemon headaches

NEW YORK -- Lululemon executives told investors Thursday that the company still hasn't determined the cause behind the too-sheer yoga pants that had to be pulled off shelves and taken offline over the weekend. And they declined to say when the items would be back.

Executives also indicated that the unacceptable sheerness in the Luon black pants includes garments still in its factories. As a result, the withdrawal will mean losses of $12 million to $17 million in the first quarter and $45 million to $50 million for the rest of the year.

-- The Associated Press

U.S. home sales rise

to three-year high

WASHINGTON -- U.S. sales of previously occupied homes rose in February to their fastest pace in more than three years, and more people put their homes on the market. The increases suggest a growing number of Americans believe the housing recovery will strengthen.

The National Association of Realtors said Thursday that sales increased 0.8 percent in February from January to a seasonally adjusted annual rate of 4.98 million.

-- The Associated Press

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