Hiring at its highest level since 2007
The number of U.S. job openings remained near the highest level in 13 years in July, and companies also stepped up hiring that month to the fastest pace in nearly seven years, two signs the job market is slowly healing. The tally of available jobs ticked down 2,000 to 4.67 million in July, the Labor Department said Tuesday. The drop was led by a decline in government job postings. Businesses actually posted slightly more jobs. Total hiring, meanwhile, jumped 81,000 to 4.87 million, the highest level since December 2007.
Scandal in China hurts McDonald's global sales
McDonald's said Tuesday that a key global sales figure fell 3.7 percent in August, driven lower as the world's biggest hamburger chain's unit that includes the Asia-Pacific region dropped 14.5 percent because of a food-safety scandal in China. That unit also includes the Middle East and Africa. McDonald's Corp. said earlier this month that it will monitor its suppliers in China more closely after a TV report in July showed workers at McDonald's supplier Shanghai Husi Food Co. — a division of 0SI Group Inc. — repacking expired meat. McDonald's stopped using the plant in Shanghai.
Japanese company will buyEbatesfor$l billion
Rakuten Inc. said Tuesday it plans to buy U.S. based cash-back site Ebates for $1 billion, part of a series of overseas acquisitions aimed at building what the Japanese e-commerce company says will be the "world's largest product lineup." With goods ranging from toys and cat beds to luxury watches and golf clubs, Rakuten is the top Internet retailer in Japan. It has made numerous overseas acquisitions and led a $100 million investment in online scrapbook Pinterest.