IN BRIEF
LAS VEGAS — Caesars Entertainment's operating division may file for Chapter 11 bankruptcy as early as Thursday, seeking relief after a 2008 buyout left it saddled with billions in debt.
The company says it has a majority of its debt holders on board with a preplanned bankruptcy agreement that would reorganize Caesars Entertainment Operating Corp. into two separate companies — one to own casino-hotels and the other to lease them — and cut its debt by about $10 billion.
Analysts say customers shouldn't notice a difference and no properties will likely close. But the bankruptcy proceedings may not move as quickly as the company hopes, considering the complexity and creditor demands.
WASHINGTON — The rapid hiring that made 2014 a stellar year for job gains is showing no sign of slowing down.U.S. employers advertised the most job openings in nearly 14 years in November, the Labor Department said Tuesday. That suggests businesses are determined to keep adding staff because they are confident strong economic growth will create more demand for their goods and services.Job openings rose 2.9 percent to 4.97 million in November, the most since January 2001. More job vacancies generally lead to more hiring. Employers have been slow to fill their openings for most of the recovery, but that started to change last year as companies ramped up their overall hiring.
NEW YORK — Americans want to cut back on soda, and they're willing to pay more to do it. With people drinking less soda amid health concerns, Coke and Pepsi are pushing smaller cans and bottles that contain fewer calories and, they say, induce less guilt. That all comes at a price: Those cute little cans can cost more than twice as much per ounce.The shift means 7.5-ounce “mini-cans” and 8-ounce and 8.5-ounce glass and aluminum bottles are taking up more space on supermarket shelves. The cans and bottles have been around for a few years, but Coke and Pepsi are making them more widely available and marketing them more aggressively.A regular 12-ounce can of Coke on average sell for 31 cents. By comparison, a 7.5-ounce mini-can sells for 40 cents. That translates to 2.6 cents-per-ounce for a regular can, versus 5.3 cents-per ounce for the mini version.
DETROIT — Another Chinese automaker is showing vehicles this year at the auto show in Detroit, raising the perennial question about when these companies might sell in the United States.The answer: Years from now, according to carmakers and industry observers alike.Chinese manufacturers have announced plans over the past decade to export to the U.S. only to postpone them when faced with passing U.S. safety and emissions tests and building a dealer network.They also must overcome big hurdles in convincing U.S. car buyers that Chinese cars have the quality they demand.