WASHINGTON >> U.S. consumer prices were unchanged in November as declines in energy and food held down overall costs. But core inflation was up 2 percent over the 12 months ending in November. That was the fastest pace in more than a year and the kind of increase Fed officials want to see to justify the start of a round of interest rate increases.
The flat reading for consumer prices last month followed a modest 0.2 percent increase in October and outright declines in August and September, the Labor Department reported Tuesday.
U.S. homebuilder sentiment declines
U.S. homebuilders are feeling slightly less confident about their sales prospects in coming months, though they remain positive overall that the housing market will continue to improve next year.
The National Association of Home Builders/Wells Fargo builder sentiment index released Tuesday slipped to 61 this month, down one point from a reading of 62 in November.
Readings above 50 indicate more builders view sales conditions as good, rather than poor. The index has been consistently above 60 since June.
France fines 20 delivery firms for collusion
PARIS >> France’s competition regulator has fined 20 package delivery companies, including the French operations of FedEx and DHL, a total of $740 million for colluding on price increases over a period of six years.
The competition authority’s ruling Tuesday outlined secret meetings from 2004-2010 and said the price rises implemented were especially damaging to small businesses that use package delivery services. Regulators discovered the activity thanks to a program of clemency for whistleblowers.
Seattle allows Uber, Lyft drivers to unionize
SEATTLE >> Seattle has become the first city in the nation to allow drivers of ride-hailing companies such as Uber and Lyft to unionize over pay and working conditions. The legislation approved Monday by the City Council is seen as a test case for the changing 21st-century workforce.
Supporters erupted into cheers after council members voted 8-0 in favor of the legislation, which the city expects to be challenged in court.
It requires companies that hire or contract with drivers of taxis, for-hire transportation companies and app-based ride-hailing services to bargain with their drivers, if a majority show they want to be represented. Drivers would be represented by nonprofit organizations certified by the city.
AMC theater chain to get new boss
LOS ANGELES >> Theater chain AMC Entertainment Holdings Inc. has named Starwood Hotels and Resorts’ interim CEO Adam Aron as its new chief executive, replacing interim CEO Craig Ramsey. Aron starts Jan. 4.
Aron, 61, headed Starwood as interim boss since February. He is also the former CEO of the Philadelphia 76ers and has been chief executive of Vail Resorts Inc. and Norwegian Cruise Line Ltd. Ramsey will remain chief financial officer and report to Aron. AMC, the nation’s second-largest movie theater chain, is controlled by Chinese theater giant Dalian Wanda Group Co. Ltd.
British police arrest man in VTech hacking
NEW YORK >> Police in the United Kingdom say they’ve made an arrest in the hacking of kids’ technology maker VTech, which compromised the personal information of more than 6 million children around the world.
The South East Regional Organised Crime Unit, a regional task force made up of a handful of English police departments, says its cybercrime unit arrested a 21-year-old man on hacking-related charges Tuesday morning in Bracknell, a town about 30 miles west of London.
Peru plans to fine Kimberly-Clark
LIMA, Peru >> Peru is planning to sanction Kimberly-Clark for allegedly conspiring with a competitor to set prices for toilet paper and other products. Antitrust regulators Tuesday said that executives of Kimberly-Clark’s local subsidiary and their counterparts from Chile’s CMPC worked together from 2005 to 2014 to set prices and coordinate promotions. They say the scheme helped inflate prices by as much as 20 percent. The two companies together control 88 percent of a personal hygiene market in Peru worth more than $250 million in annual sales.
ON THE MOVE
iQ 360 has announced two new additions to its Honolulu office’s account and operations teams:
>> Jean Nakanishi is the new vice president of operations. She will be responsible for the company’s growth-oriented vision and managing operations. Shehas more than 20 years of operations, marketing, sales and management experience and was previously executive director of the Rehabilitation Hospital ofthe Pacific Foundation.
>> Brooke LaPorte is the new account coordinator. She will also plan the company’s communication programs. She previously worked as a digital editor forHawaii Business and Hawaii Home + Remodeling magazines.
