Business briefs: Applications for jobless benefits fall

WASHINGTON – Fewer Americans applied for unemployment benefits last week, a sign that employers expect ongoing economic growth and the need to hold onto workers.

The Labor Department said Thursday that applications for unemployment benefits fell 4,000 last week to a seasonally adjusted 294,000.

The four-week average, a less volatile measure, slipped 250 to 290,500. That average has plunged 16 percent in the past 12 months, as averages have stayed at historically low sub-300,000 levels since September.

In the monthly jobs report being released today, employers are expected to have added 243,000 jobs in December, according to FactSet. That would follow job gains of 321,000 in November and put total job growth in 2014 at just shy of 3 million, the best performance since 1999.

The unemployment rate has slid to 5.8 percent from 6.7 percent at the start of 2014.

Coca-Cola to cut 1,600 to 1,800 jobs

NEW YORK – Coca-Cola said it will cut between 1,600 and 1,800 jobs in coming months to trim costs.

The world’s biggest beverage maker said it began notifying workers in the U.S. and some international locations Thursday. It said job types are across all parts of its business and include about 500 cuts at its Atlanta headquarters.

The company, which makes Sprite, Powerade, Vitaminwater and other drinks, has about 130,600 employees around the world, according to FactSet.

In an emailed statement Thursday, Coca-Cola said it will “continuously look for ways to streamline our business,” suggesting additional cuts could be announced later.

Average fixed rate for 30-year mortgage falls

WASHINGTON – Average U.S. mortgage rates started the year by dipping to new lows, with the benchmark 30-year rate marking its lowest level since May 2013.

Mortgage giant Freddie Mac said the nationwide average for a 30-year fixed rate mortgage fell to 3.73 percent this week from 3.87 percent last week. The average for a 15-year mortgage slid to 3.05 percent from 3.15 percent last week.

Starbucks COO taking ‘extended unpaid leave’

NEW YORK – Starbucks said its chief operating officer, Troy Alstead, is taking an “extended unpaid leave” after 23 years with the company.

The Seattle-based coffee chain said it would provide more details on its transition plan during its quarterly earnings call slated for Jan. 22. Alstead’s last day will be March 1, the company said.

Alstead, 51, was serving as chief financial officer early last year when Starbucks named him to the newly created position of chief operating officer.

Starbucks spokesman Jim Olson did not say whether Alstead would be returning. He said it was a “very personal decision” by Alstead to spend time with his family.