Starbucks Corp. said Tuesday it will begin selling three new tea-based lattes and two nondairy tea drinks on Saturday as part of a push to offer customers healthier choices. The gourmet coffee retailer said all but one of the new drinks are less than 200 calories for a 12-ounce, or tall, serving. The new lattes are made with steamed milk and Tazo full-leaf tea bags. The new varieties include the black tea latte, the vanilla Rooibos latte and the London fog latte. The company already sells a chai tea and green tea latte. Starbucks will also launch new Tazo Tea Infusions — nondairy drinks made with Tazo black chai tea and fruit juice. The infused teas are based on berries and apple.
Confidence sinks to an all-time low
Consumer confidence hit an all-time low in December, dropping further in the face of rising layoffs, in yet another sign that consumer spending is unlikely to pull the U.S. out of a yearlong recession any time soon. Consumers have been nervous about spending for months — putting off big-ticket purchases, forgoing new clothes and choosing store brands at the grocery store — all of which may make this the worst holiday season for retailers in decades. The Consumer Confidence Index measured by the Conference Board, a private research group, fell to 38 in December from a revised 44.7 in November. That is its lowest point since the group began compiling the index in 1967, and below the previous low of 38.8 in October.
Credit-card rates continue decline
The average annual interest rates charged on popular types of credit cards fell again last week, according to Bankrate.com. For low-Âinterest-rate cards, which have rates below the national average but are often offered only to customers with strong credit histories, the average APR declined to 11.33 percent, from 11.42 percent the week before.
Government buys mortgage securities
The Federal Reserve says it will begin purchasing up to $500 billion in mortgage-backed securities early next month in an effort to bolster the housing market. The Fed first announced the purchases in late November, but did not say when they would begin. The central bank says it will purchase securities that are guaranteed by home loan giants Fannie Mae, Freddie Mac and Ginnie Mae.
Regulators approve sale of local utility
State regulators have approved the sale of Puget Sound Energy for $7.4 billion to a group of investors from Canada and Australia. The state’s largest private utility was sold to New York-based Puget Holdings LLC, the Washington Utilities and Transportation Commission announced Tuesday. While based in New York, the company is held by foreign investors. The sale was supported by the commission’s staff, Industrial Customers of Northwest Utilities, Northwest Industrial Gas Users, The Kroger Co., The Energy Project and Northwest Energy Coalition. It was opposed by the public counsel section of the state Attorney General’s Office. The commission says it will continue to regulate gas and electric rates and services.
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