BUSINESS NEWS JANUARY 12th 2016
U.S. JOB OPENINGS RISE IN NOVEMBER
On Wall Street...stocks rallied in a late turnaround with the Dow Industrials up by 117 points. U.S. employers advertised slightly more jobs in November as overall hiring edged higher indicating a healthy labor market. The Labor Department said that the number of job postings rose 1.5% to a seasonally adjusted 5.4 mn. Overall hiring picked up 3.4% to 5.2 mn from a year ago. The number of people quitting their jobs rose 6.3% over the past year to 2.83 mn. The job market seems to be in a good shape despite the global economic turmoil and declining oil prices.
For more on the story log on to http://abcnews.go.com/Business/wireStory/us-job-openings-rose-november-hiring-quits-rise-36235075
CRUDE OIL ENDS LOWER AFTER BRIEFLY DECLINING BELOW $30/BARREL
The U.S. oil benchmark index ended sharply lower today after briefly trading below $30 a barrel for the first time since 2003. Oil futures have continued their decline into the new year following concerns of over supply, a stronger dollar and global economic turmoil. Analysts believe that oil prices could decline 10-15% if the U.S. Dollar gains 5%.
For more on the story log on to http://www.marketwatch.com/story/crude-sinks-to-30-a-barrel-a-level-not-seen-in-12-years-2016-01-12
STARBUCKS TO ADD MORE STORES IN CHINA
Starbucks is betting big on the Chinese market, despite global jitters over the country's economic slowdown and market turmoil. The Seattle-based coffee giant, which already runs 2,000 stores in 100 Chinese cities, plans to open 500 stores in China every year for the next five years. The coffee chain expects China to become it’s largest market, though it has not specified a time-frame. Chinese coffee consumption is rising 18% annually to 2019 according to data collected from Euromonitor.
For more on the story log on to http://www.wsj.com/articles/starbucks-plans-thousands-of-new-stores-in-china-1452580905
GENERAL MILLS SUES RIVAL CHOBANI OVER AN AD CAMPAIGN
General Mills has sued Chobani over an advertising campaign, saying its rival firm is wrong in comparing its yogurt to a bug spray. The suit filed in Minneapolis, alleges false advertising in a campaign for Chobani Simply 100, a Greek-style yogurt. In a statement Chobani has said it's campaign is about giving people accurate information so they can make more informed decisions about the food they buy. The suit comes at a time when consumers are increasingly scrutinizing food labels for artificial ingredients.
For more on the story log on to http://www.startribune.com/general-mills-sues-yogurt-rival-chobani-over-tv-ad/364901541/