Here's what's happening in the world of business on Sept. 17, 2014.
- Family Dollar is serious about rejecting a hostile bid from Dollar General, and it's asking shareholders to do the same. The discount retailer would rather accept Dollar Tree's $8.5 billion takeover offer, even though Dollar General's $80-per-share bid is higher.
- The budding marijuana industry is trying to shake off its stoner image by launching ads in Colorado that it hopes can reverse the this-is-your-brain-on-drugs stigma surrounding the newly legal drug in that state.
- FedEx said it will hire about 50,000 seasonal workers to handle the holiday season's surge in packages. Meanwhile, UPS says it plans to hire 95,000 this holiday season. FedEx on Wednesday said its first quarter profit jumped to $606 million in the first quarter, beating expectations.
- Kohl's also said it plans to boost holiday season hiring, and expects to bring in more than 67,000 workers. Last year the retailer hired 50,000 for the season.
- Sony said it expects its annual loss to top $2 billion in 2014 due to hefty write-downs in its struggling smartphone business. The company also canceled the dividends it usually pays shareholders.
It's the economy
- U.S. consumer prices fell by 0.2 percent in August, pushed lower by falling gasoline, clothing and airline ticket prices.
- The U.S. account trade deficit also fell to $98.5 billion with a surge in oil exports and civilian aircraft orders.