Business digest: Durable-goods orders plunge

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Posted: Tuesday, August 27, 2013 12:00 am

Orders for long-lasting U.S. factory goods fell sharply last month as demand for commercial aircraft plummeted and businesses spent less on computers and electrical equipment. The Commerce Department said Monday that orders for durable goods plunged 7.3 percent in July, the steepest drop in nearly a year. Excluding the volatile transportation category, orders fell just 0.6 percent. Both declines followed three straight months of increases.

McDonald's Corp. plans to introduce bone-in chicken wings across the U.S. next month as Chief Executive Officer Don Thompson revamps the restaurant chain's domestic menu. The Big Mac seller will start the Mighty Wings rollout Sept. 9, have the items in all U.S. stores by Sept. 24 and keep them on sale until the end of November, Ofelia Casillas, a McDonald's spokeswoman, said. The company tested the wings in Atlanta and Chicago. Thompson has been overhauling McDonald's menu to lure consumers and boost sales in its home market. While the chain recently removed Angus third- pounder burgers from its bill of fare, it has added egg-white breakfast sandwiches and chicken McWraps.

Facebook's market value passed $100 billion Monday amid optimism that the world's largest social network can bolster sales from mobile advertising. The stock closed at $41.34 Monday. The shares have advanced more than 50 percent this year, compared with a 17 percent gain in the Standard & Poor's 500 Index. Facebook had slumped as low as $17.73 in September.

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