Business Briefs – November 8, 2016

U.S. Job Openings Increase Slightly In September

WASHINGTON (AP) — U.S. employers posted slightly more job openings in September, a likely sign that the steady job gains of recent months could continue.

The Labor Department said that job openings edged up to 5.49 million in September, a modest increase from 5.45 million in August.

The data affirms recent evidence that hiring has been more tempered after setting a robust pace of the prior two years. Still, the economy is generating enough jobs to reduce unemployment and boost incomes.

CVS Health’s 3Q Profit Jumps, But Revenue Disappoints

WASHINGTON (AP) — CVS Health Corp. missed Wall Street’s revenue expectations in the third quarter, despite sales jumping due to acquisitions. The company trimmed its profit forecast for this year, triggering a stock sell-off.

The drugstore chain and pharmacy benefits manager also noted significant headwinds that forced it to reduce its 2016 profit forecast by a nickel per share. Those include a soft seasonal business, slowing prescription growth in the overall market and recent pharmacy network changes expected to reduce the number of prescriptions filled at its pharmacies this year.

Tesla Inks Deal to Buy German Manufacturing Engineering Firm

PALO ALTO, Calif. (AP) — Tesla Motors says it has agreed to buy a German engineering company to help automate its electric car manufacturing.

The company is buying Grohmann Engineering, which Tesla says is a leader in highly automated manufacturing methods.

Tesla expects to start building the $35,000 Model 3 electric car next year, and it wants to build 500,000 cars per year in two years. More than 300,000 people have put down deposits to reserve a Model 3.

Dubai, Hyperloop One to Study Potential for Abu Dhabi Line

DUBAI, United Arab Emirates (AP) — The futuristic city-state of Dubai announced a deal on Tuesday with Los Angeles-based Hyperloop One to study the potential for building a line linking it to the Emirati capital of Abu Dhabi.

The announcement of the deal took place atop the Burj Khalifa, the world’s tallest building, with a panoramic view of the skyline of this futuristic city-state serving as both a backdrop and a sign of Dubai’s desire to be the first to rush toward the future.

Thanksgiving Day Shopping Is Here To Stay — With Some Tweaks

NEW YORK (AP) — Thanksgiving Day shopping isn’t going away, but some stores are rethinking their strategies on whether it makes sense to be open on the holiday itself.

Many of the nation’s major mall operators and the big retailers that anchor them — Toys R Us, J.C. Penney, and Macy’s — are still kicking off the shopping season on Thanksgiving Day. Others, including the nation’s largest shopping mall, are closing for Thanksgiving after being open for the past several years.

Some retailers that are closing cite respect for the holiday, but in truth the cost of being open may be more than the return.

Southwest Airlines Pilots Approve 4-Year Deal, Higher Pay

DALLAS (AP) — Southwest Airlines Co. pilots have ratified a new four-year contract that includes higher pay and bonuses.

The Dallas-based carrier on Monday announced approval of the deal. About 84 percent of Southwest Airlines Pilots’ Association members who cast ballots voted in favor of the agreement. The contract includes an immediate 15 percent pay raise.

Contract negotiations began in 2012. Mediated talks started in 2014. Pilots last November rejected another proposed contract.