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Newspaper
The Chronicle Telegram
Location
Elyria, Ohio, United States of America
Date
Nov 01, 2016
Page
10
The Commerce Department reports U.S. consumer spending rose 0.5 percent in September led by a 1.3 percent surge in durable goods, while incomes grew 0.3 percent. The economy expanded 2.9 percent in the July to September quarter, with ongoing momentum into year end.
The rise of younger drinkers fuels record global coffee demand as supplies tighten. U.S. and global consumption climbs while droughts in Brazil curb robusta output, boosting arabica prices to highs unseen since early 2015. Investors push bets higher as stockpiles stay fragile.
Mergers reach new heights with GE and Baker Hughes joining forces in oil and gas. October alone saw over 320 billion dollars in U S announced deals, smashing prior records and setting a pace toward nearly 1.4 trillion in U S activity for the year.
McDonald’s agrees to a 3.75 million settlement in a federal lawsuit alleging a San Francisco Bay Area franchise cheated hundreds of workers on wages and overtime. The 2014 case seeks joint employer status, potentially holding the company responsible for working conditions at franchises.
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