Happy Meal toys cost a dime in San FranciscoMcDonald's Corp., the world's largest restaurant chain, will stop giving out Hello Kitty figurines or any other toys with its Happy Meals in San Francisco starting Thursday because of a new city ordinance. Parents will have the option to buy a toy separately for 10 cents when they purchase a Happy Meal or Mighty Kids Meal, spokeswoman Danya Proud said. Restaurant meals in San Francisco can't include a free toy unless they have less than 600 calories, contain fruits and vegetables and have a beverage that isn't excessively sugary or fatty.
Farm exports to fall next year, USDA saysU.S. farm exports will drop 3.9 percent next year from a record in 2011 as competition from other countries and slow global growth erode sales of grain, oilseeds and cotton, the government said. Shipments will slide to $132 billion in the year that began Oct. 1 from $137.4 billion a year earlier, the U.S. Department of Agriculture said in a quarterly report. The forecast was down 3.6 percent from an August estimate. The agency boosted its import forecast to $105.5 billion, shrinking this year's agricultural trade surplus to $26.5 billion, 38 percent lower than in the year that ended Sept. 30.
Pending home sales up, but still depressedThe number of Americans who signed contracts to buy homes jumped in October to the highest level in a year. But the gain follows three months of declines and isn't enough to signal a housing recovery. The National Association of Realtors said its index of sales agreements rose 10.4 percent last month to a reading of 93.3. A reading of 100 is considered healthy. The last time it was that high was in April 2010, one month before a federal home-buying tax credit expired.
Buffett agrees to buy hometown newspaperWarren Buffett's Berkshire Hathaway Inc. will expand its media holdings by acquiring the Omaha World-Herald Co., publisher of the billionaire's hometown newspaper. The World-Herald reported the price as $150 million plus assumption of debt. The deal would give Berkshire control of the World-Herald, six other daily newspapers and several weekly newspapers across Nebraska and southwest Iowa, according to a company statement. Sellers include employee shareholders and the Peter Kiewit Foundation.
Private payrolls grow most in nearly a yearGrowth in private-sector payrolls sharply accelerated in November, led by the service-producing sector and small businesses, according to the ADP employment report. Employment in the private sector rose by a seasonally adjusted 206,000 jobs in November -- the largest gain since last December and almost twice the average increase in recent months. The October level was revised up to 130,000 from a prior estimate of 110,000.
Unlike its rivals, Cantor Fitzgerald expandsCantor Fitzgerald & Co. plans to add at least 200 people next year in an expansion that defies a wave of layoffs at the investment bank's competitors. The firm expanded 20 percent this year, boosting headcount in areas including credit trading, leveraged loans and fixed-income sales by more than 200. Wall Street banks are firing staff after a combined 41 percent decline in investment-banking revenue in the third quarter at J.P. Morgan Chase & Co., Bank of America Corp., Citigroup, Goldman Sachs Group Inc. and Morgan Stanley. The cull has claimed 200,000 jobs this year.
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