Starbucks lifts and lowers prices

Updated: August 20, 2009 - 8:50 PM

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Starbucks lifts and lowers prices

Starbucks Corp. is raising prices on certain harder-to-make beverages and cutting prices for simpler ones such as a plain cup of coffee, the company said Thursday. The increases, on average 10 to 15 cents, and as much as 30 cents, went into effect yesterday. They will be added to "complex" drinks such as the company's frothy blended frappuccino. Prices for more basic beverages -- the latte and plain coffee, among others -- will decrease 5 to 15 cents. Starbucks won't say how many cities were affected by Thursday's increase but said the price increases will eventually spread nationwide.

U.S. sues AT&T, alleging age bias

The Equal Employment Opportunity Commission said Thursday it filed an age-discrimination lawsuit against AT&T Inc., the country's largest telecommunications provider. The EEOC alleges that Dallas-based AT&T discriminated against older employees by denying them the chance to be rehired solely because they retired under early retirement plans. The lawsuit was filed in U.S. District Court in New York.

Swiss make $1.1 billion in UBS sale

The Swiss government said Thursday it made a profit of 1.2 billion Swiss francs ($1.1 billion) from the sale of its stake in UBS AG, a day after concluding a deal that appears to end the bank's yearlong tax-evasion battle in the United States. The government exercised its mandatory convertible notes for 332.2 million shares and then sold them at 16.50 francs each, for a total of 5.48 billion francs, the Finance Ministry said. The decision to sell the stake was announced late Wednesday, hours after the government signed an agreement with the United States under which UBS will disclose the names of 4,450 American clients suspected of hiding assets in Swiss accounts.

ASSOCIATED PRESS