Seven-Eleven Pulling 'Cocaine' Drink from Shelves
STEVE INSKEEP, host:
Let's perk up today's business news by starting with some caffeine.
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INSKEEP: 7-Eleven says it will stop selling a high-caffeine drink because of its name. We're not talking about coffee. The drink is called Cocaine. It comes in red cans with the name spelled out in what are meant to resemble lines of white powder. Cocaine is targeted at teens. 7-Eleven decided to pull the drink after discovering that parents were unhappy with this product.
Countrywide Financial Corporation is cutting 5 percent of its workforce. Countrywide is the largest U.S. mortgage lender and employed 55,000 people before the cuts. The company also announced yesterday that third quarter profits rose less than expected because demand for home loans slumped. Now the housing industry will be paying attention to today's announcement from the Federal Reserve. The Federal Open Market Committee is wrapping up a meeting on interest rates, and many analysts expect interest rates to remain unchanged. The Fed has one more policy setting session on tap this year in December.