Apple Inc. has launched an iPhone trade-in program at its U.S. retail locations that will allow consumers to trade in older devices for credit on new products. The new program comes ahead of the expected launch of new iPhone models next month. An Apple spokesman would not confirm how many trade-in credits would be offered under the program. The amount will vary depending on device and condition.
Growth in consumer spending, income slows
Consumers spent less last month as their income growth slowed, the government said Friday,. Consumer spending rose 0.1 percent in July after an upwardly revised 0.6 percent increase the previous month, the Commerce Department said. Personal income was up 0.1 percent as well, compared with a 0.3 percent rise in June. The figure was dragged down by a 0.2 percent decline in purchases of long-lasting durable goods from the previous month.
Hastings burger plant workers face layoffs
Employees at the Bubba Burgers plant in Hastings, Neb., have received notice that production will shut down. Thirty-nine workers will be affected by the first round of layoffs and 22 in a second phase. A plant manager says the plant could be shut down anywhere from less than 12 months to more than two years. Bubba Foods bought the former Armour-Eckrich plant in Hastings in 2010.
November trial in airline merger suit
The trial in the government's antitrust lawsuit against the creation of the world's largest airline will begin Nov. 25, a federal district judge decided Friday. American Airlines and US Airways wanted their day in court before the end of the year in hopes of salvaging their $11 billion merger, while the Justice Department wanted more time to prepare. Meanwhile, a federal bankruptcy judge in New York was expected to rule on the merger by Sept. 12. The merger is American's plan to exit from Chapter 11 bankruptcy, and Judge Sean Lane indicated Thursday that he's inclined to approve it but wants to hear more about the airlines' response to the government's antitrust case.