Here's what's happening in the world of business on Sept. 5, 2014.
- U.S. companies added 142,000 jobs in August, representing the slowest hiring pace in 8 months, the Labor Department said.
- America's love affair with jeans may be over. Sales of denim have plunged as more and more turn to softer alternatives such as yoga pants.
- Family Dollar still doesn't want to be bought by Dollar General. The company has again rejected the company's bid, even though Dollar General recently upped the price to $9.1 billion and pledged to close stores to avoid antitrust issues.
- Starbucks will open two new store types, an upscale cafe in the Seattle area featuring rarer coffees and "express" mini-cafes in New York. Starbucks already has smaller drive-in locations, including several on Long Island.
Across the nation
- Detroit's chief financial officer, John Hill, is set to testify in the city's bankruptcy trial. The city is hoping to slash its debt from $12 billion to $5 billion.
- Residents along the Gulf of Mexico who endured the 2010 Gulf Oil spill say the $18 billion ruling slapped on BP over its role in the disaster is exactly what the company deserves. In fact, business owners are already planning on ways to use the cash to better the area and the surrounding economy.
- Lost crab pots in Washington waters are causing $700,000 in lost revenue and damaging the sea floor, sparking renewed efforts to track down these missing traps.
Across the region
- A former housing director in Connecticut has admitted to taking $1.5 million in bribes while he was in charge of the West Haven Housing Authority.
Across the world
- Lufthansa has canceled more than 200 flights due to a six-hour pilot strike in Germany. Pilots want the airline to continue to pay transition money for pilots retiring early.
- Motorola has a smartwatch now, and it's circular. The company said it wanted to create one that would appeal to people favoring a more traditional design.
- New camera phones are in a selfie frame of mind. As the self-taken photo trend rages among celebrities and regular folk alike, new phones are coming out with features specifically designed for selfies such as clearer, high-resolution rear-facing lenses.