Business Beat for Wednesday, Nov. 5, 2014
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Toy makers’ new darlings: tiny critics on YouTube
At a time when toy sales have stagnated for years at $22 billion, children who review toys on YouTube are wielding increasing influence.
Mondelez lifts profit forecast citing cost cutting
Oreo maker Mondelez International raised its outlook for the year on Wednesday, citing the cost-cutting it’s doing to offset weak global sales.
NextTier helps students, parents get through college applications
NextTier Education has raised $1.2 million to fund its website and mobile apps that help manage the college application process.
Markets rally; Dow, S&P 500 close at record highs
U.S. stocks closed at a record Wednesday as energy prices rebound and as Republicans gained control of the Senate.
Anheuser-Busch buying Oregon’s 10 Barrel Brewing
Craft brewer 10 Barrel expects to sell about 40,000 barrels of beer in 2014, with its Apocalypse IPA brand accounting for almost half that total.
Walgreen’s October sales helped by flu shots, pharmacy
The nation’s largest drugstore chain said revenue from stores open at least a year rose 5.6 percent last month.
Boeing planning new airplane to replace 737 MAX by 2030
Boeing Co. plans to develop an all-new aircraft, with new engines and likely a composite structure, to replace its 737 MAX jet, Reuters reports.
Airbus finding space where Boeing 757 once ruled
Boeing Co. faces fresh pressure to devise a replacement for its discontinued 757, favored by U.S. carriers for trans-Atlantic flying, Bloomberg says.
Tribune Publishing paid $23.5 million for Sun-Times’ suburban papers
Tribune Publishing disclosed Wednesday it paid $23.5 million to get six suburban daily and 32 weekly papers from the Chicago Sun-Times parent company.
McDonald’s bringing back McRib in 75% of U.S. restaurants
McDonald’s McRib sandwich, which has a strong cult following, is making its annual return, Bloomberg reports.
United finds few friends in lifehacker poll
The Chicago-based carrier placed among the Top 5 worst airlines as people complained about its customer service, narrow seats and safety video.
Philip Morris inks a new US tobacco deal
The seller of Marlboro and other cigarette brands is partnering with two U.S. tobacco leaf suppliers rather than working directly with farmers.
US services firms grow more slowly, but hiring up
U.S. services firms expanded more slowly in October. Hiring also rose to the fastest pace in more than nine years.
US businesses add 230,000 jobs in October: survey
Payroll processer ADP said Wednesday that the job gains were slightly ahead of the 225,000 added in September.
European Central Bank to sit tight despite fragile economy
The sobering economic news just keeps coming, yet the European Central Bank appears stuck in wait-and-see mode.
Liberty Media finishes Liberty Broadband spinoff
The spinoff includes Liberty Media’s interest in the cable TV providers Charter Communications and Time Warner Cable.
Audi recalling nearly 102,000 cars to fix air bags
Audi is recalling nearly 102,000 luxury cars because the front air bags may not inflate in a crash.