BUSINESS NEWS FEBRUARY 9TH 2016
U.S. JOB OPENINGS RISE IN DECEMBER
U.S. stocks ended flat for the day as a rally in material stocks offset losses in the energy sector. The number of U.S. job openings in December rose 4.9% from November to more than 5.6 mn, according to data from the U.S. Bureau of Labor Statistics. Construction job openings increased by 69,000, followed by non-durable goods manufacturing at 60,000 openings. The job openings rate, a measure of job openings compared with total employment rose to 3.8% in December from 3.6% in November.
U.S. WHOLESALE INVENTORIES CONTINUE TO DECLINE
Inventories at U.S. wholesalers fell in December for the third straight month; another sign companies cut back on re-stocking towards the end of 2015 amid softer sales. Inventories dropped 0.1% to a seasonally adjusted $582 bn, according to The Commerce Department. Sales for wholesalers fell 0.3% in December.
COCA COLA'S QUARTERLY PROFITS RISE
Despite a continued slump in North America, Coca-Cola’s soda business ended the year in positive territory. Volume for soft drinks in North America, the company’s biggest market, grew 2% in the fourth quarter of 2015. Revenue fell 8% in the quarter to $10 bn; beating analyst estimates. Coke’s volume for 'beverages' grew 6% in the fourth quarter and 5% for the year.
WALT DISNEY POSTS RECORD QUARTERLY PROFITS
Walt Disney has posted a record profit in its fiscal first quarter. The company reported net income of $2.88 bn in the first quarter that ended January 2nd. The figure is a 32% increase over the same period a year earlier. Revenue rose 14% to $15.2 bn.