Overall hiring, job openings slipped in March, U.S. reports
U.S. employers posted fewer job openings in March compared with February and slowed overall hiring, underscoring a weak month of job growth.
The Labor Department said Tuesday that job openings fell 1.4 percent to a seasonally adjusted 3.8 million. Total hiring declined 4.3 percent to 4.3 million.
Meanwhile, Americans cut back on using their credit cards in March, suggesting many were reluctant to take on high-interest debt to make purchases. Consumer borrowing rose just $8 billion in March from February to a seasonally adjusted $2.81 trillion, the Federal Reserve said Tuesday. It was the smallest increase in eight months.
Hertz moving headquarters from New Jersey to Florida
Hertz will move its headquarters from New Jersey to Florida, putting the company in the heart of a key travel market and trimming corporate expenses after its $2.3 billion buyout of one-time rival Dollar Thrifty.
Up to 700 jobs will shift to Florida over a two-year period, the company said Tuesday. More than 2,000 Hertz and Dollar Thrifty workers will stay in New Jersey.
Enterprise Florida, the state’s economic development arm, said the state and local communities crafted a package of incentives worth more than $19 million to attract Hertz to Florida.
Parks and resorts revenues give Disney income a boost
Revenue gains at Disney’s parks and movie studio led to a 32 percent increase in net income during the January-March quarter. The results, which topped analyst expectations Tuesday, showed that the company’s record-setting investments in a new cruise ship and multiple theme park upgrades last year are starting to pay off.
Net income grew to $1.51 billion, or 83 cents per share. Factoring out one-time items, adjusted earnings came to 79 cents per share, beating the 77 cents expected by analysts surveyed by FactSet.
Revenue grew 10 percent to $10.55 billion, also topping the $10.49 billion expected by analysts.
Parks and resorts revenue rose 14 percent to $3.30 billion, thanks to higher attendance and guest spending at U.S. parks in Anaheim, Calif., and Orlando, Fla.
Fans of Lay’s chips extend Cheesy Garlic Bread flavor
Lay’s potato chips are getting cheesier.
Fans voted to keep the potato chip maker’s Cheesy Garlic Bread flavor on store shelves for at least the end of the year as part of the company’s nearly yearlong promotion soliciting customers’ flavor ideas.
Cheesy Garlic Bread beat out two other fan-submitted flavors: a maple-syrup tasting Chicken & Waffles and Sriracha, which tastes like the hot sauce often used in Thai dishes.
Karen Weber-Mendham, a children’s librarian from Land O’Lakes, Wis., submitted the Cheesy Garlic Bread flavor and will receive $1 million or 1 percent of sales, whichever is higher.