U.S. workers were more productive from April through June than previously estimated while labor costs were unchanged.
Productivity grew at an annual rate of 2.3 percent in the April-June quarter, up from an initial estimate of 0.9 percent growth, the Labor Department said Thursday. Unit labor costs were flat in the second quarter, less than the 1.4 percent rise the government had initially estimated.
The combination of stronger productivity and less of an increase in wages should provide assurances to the Federal Reserve that inflation is not a threat.
The revised productivity number reflected the fact that economic output had been revised higher for the second quarter to a growth rate of 2.5 percent. Productivity is the amount of output per hour work.
The 2.5 percent economic growth rate was much stronger than the 1.7 percent annual rate estimated a month earlier for the gross domestic product, the economy’s total output of goods and services.
Yahoo unveils redesigned logo
Yahoo has adopted a new logo for the first time since shortly after the Internet company’s founding 18 years ago.
The redesigned look unveiled late Wednesday is part of a makeover that Yahoo Inc. has been undergoing since the Sunnyvale, Calif., company hired Google executive Marissa Mayer to become Yahoo’s CEO last year.
Mayer has already spruced up Yahoo’s front page, email and Flickr photo-sharing service, as well as engineered a series of acquisitions aimed at attracting more traffic on mobile devices.
The shopping spree has been highlighted by Yahoo’s $1.1 billion purchase of Tumblr, an Internet blogging service where the company rolled out its new logo.
The logo was shown both with purple letters and in white with a purple background spelling out the word Yahoo!, with no letters touching and ending with an exclamation point.
We wanted a logo that stayed true to our roots (whimsical, purple, with an exclamation point) yet embraced the evolution of our products, a statement on the website said.
Chobani recalls some Greek yogurt cups
Chobani says it’s recalling some of its Greek yogurt cups that were affected by mold, a move prompted by reports of illnesses by some customers.
The recall comes about a week after the company first started asking retailers to pull the products from shelves, saying some cups were swelling and bloating. Chobani had previously said it wasn’t issuing a formal recall.
But the Food and Drug Administration said Wednesday that it was in talks with the company about the matter.
Chobani said that most of the affected products have already been pulled from shelves. The containers are marked with the code 16-012 and expiration dates Sept. 11 to Oct. 7.
Lego sales soar on popular girls series
Danish toymaker Lego says sales soared 13 percent during the first six months of 2013, thanks partly to the new Lego Friends series of building blocks designed for girls.
The privately owned company said Thursday that it made a net profit of $424 million on revenue of $1.8 billion.
Lego said series like Legends of Chima and Lego Friends were among the most popular and that sales were particularly high in Asia.