Nordstrom plans its first stores in Canada Nordstrom confirmed that it will open four full-line department stores in Canada, its first move outside the United States. Stores in Calgary, Ottawa, Toronto and Vancouver will begin opening in autumn 2014, a pace that President Blake Nordstrom said is "actually really fast. Each store is being remodeled, so there's a lot of work to do." He said the Canadian market might eventually support six to nine full-line Nordstrom locations.
Energy prices push wholesale inflation up Wholesale prices jumped 1.7 percent in August from July -- their largest gain since June 2009 -- as the cost of food and energy boomed. The seasonally adjusted increase in the producer price index was driven mostly by a 6.4 percent surge in energy prices, according to the Labor Department. That's the most substantial leap in three years. Gasoline prices swelled 13.6 percent in August, according to the measure. Another report earlier this week found gasoline prices ticking up nationwide. The core index, which strips out the fluctuating energy and food figures, was up 0.2 percent in August from July.
More evidence of weakening global economy A report from the Organization for Economic Cooperation and Development pointed to a slowdown in the coming months in Italy, China, India and Russia, with weak growth in France and Germany -- the two biggest economies of the struggling eurozone. The study focused on indicators that aim to anticipate turning points in economic activity. They show signs of slightly slower growth in Japan and the U.S., while for Britain and Brazil, they point tentatively to a pickup in activity, albeit at a slow rate, the organization said.
Isaac distorts picture of initial jobless claims The number of people who applied for U.S. unemployment benefits jumped sharply last week, mainly because of delayed claims filed by people affected by Tropical Storm Isaac. The effects of the storm aside, claims showed little change in a sluggish U.S. labor market that reflects the reluctance of companies to hire. Initial jobless claims climbed by 15,000 to a seasonally adjusted 382,000 in the week ended Saturday, the Labor Department said. That's the highest level since mid-July.
J&J goes outside company for consumer chief Johnson & Johnson named Sandra Peterson, the chief of Bayer AG's crop-chemical unit, to oversee J&J's troubled consumer businesses as Chief Executive Alex Gorsky's first major hire. Peterson, 52, will also head its information technology and global supply chain operations, the New Brunswick, N.J.-based company said. The consumer group has been plagued by quality control issues in its over-the-counter drug lines, including the recall of Tylenol, Motrin, Benadryl and other products.
Nintendo's new Wii U console arrives Nov. 18 Nintendo Co. set preholiday release dates for the Wii U, the world's first new home console since 2006, betting a broader offering of games, movies and TV shows will help it revive sales. The Wii U will start selling Nov. 18 for $300 and up in the U.S., with new titles ranging from "Super Mario" and "Skylanders" for kids to traditional shooting games like "Call of Duty."
FROM NEWS SERVICES
