Workers at Market Basket to strike over firing of CEO
Some workers at the Market Basket supermarket chain plan to walk off the job Friday to protest the firing of their former boss at the company’s Tewksbury, Massachusetts, headquarters.
Employees loyal to former CEO Arthur T. Demoulas had written to the new co-chief executives demanding his reinstatement and an answer by 4:30 p.m. Thursday. Demoulas, a member of the family that owns the privately held chain, lost his job in a long-running battle with a cousin for control.
The new CEOs, Felicia Thornton and Jim Gooch, said the power to reinstate Demoulas lies with the board that fired him in June. The board plans a telephone conference Monday to discuss the workers’ demand.
Facebook tests button for making on-site purchases
Facebook is testing a “Buy” button in its latest effort to help businesses drive sales through the world’s biggest online social network.
The company said the button will let people buy products directly from businesses without leaving Facebook. The button appears in sponsored ads and is being tested by several small- and medium-sized businesses.
The move comes as Facebook continues to grow its advertising business. The company will account for 7.8 percent of global digital ad spending this year, up from 5.8 percent in 2013, according to eMarketer.
Earnings for quarter rise 6% at Google to $3.4 billion
Google’s second-quarter earnings rose 6 percent as World Cup fever drove more traffic to the Internet company’s search engine and YouTube video site, while Android devices spurred more sales of movies, music, books and apps at its mobile store.
Thursday’s earnings report also showed that Google’s ad prices are still falling, extending a nearly three-year slump. Meanwhile, the company’s expenses are steadily rising as it hires more workers, promotes products and ventures to new technological frontiers. Those trends have frustrated many investors.
Google Inc. earned $3.4 billion, or $4.99 per share, during the April-June period.
Sellers of 5-Hour Energy accused of deceptive ads
Oregon’s attorney general has sued the companies responsible for the popular 5-Hour Energy drink, alleging they engaged in deceptive advertising.
The lawsuit filed Thursday in Portland contends 5-Hour Energy falsely claims customers get extra energy and focus from a unique blend of ingredients, when the boost actually comes from a concentrated dose of caffeine.
The suit also targets claims that users don’t experience a crash when the effects subside and that the product is OK for adolescents.
– From news service reports