Afternoon Coffee: LA Ports Reopen, US Productivity Rises, Tesco Leaves US

An agreement has been reached.
Los Angeles and Long Beach Ports to Reopen After 8-Day Strike -- After an eight-day strike that crippled the ports of Los Angeles and Long Beach, clerical workers from a local office of the International Longshore and Warehouse Union on Tuesday night agreed to a new contract with the terminal operators at the ports. Union members will return to work Wednesday morning.

Good job, guys.
US workers' productivity growing fastest in two years -- US output per worker grew by its fastest rate since 2010 in the third quarter of this year, according to official data. The Labor Department said that productivity among non-farm workers rose by an annual rate of 2.9% in the third quarter of this year. Productivity measures hourly output per worker.

Detroit speaks out.
Detroit councilwoman to Obama: We voted for you, now bail us out -- "After the election of Jimmy Carter, the honorable Coleman Alexander Young, he went to Washington, D.C. and came home with some bacon," said Watson. "That's what you do." Young served as Detroit's mayor for 20 years and served as vice chairman of the Democratic National Committee from 1977 to 1981.

There's an app for that.
Apps Redirect Text Messages, and Profits, From Cellular Providers -- Cellphone users are sending more text messages than ever, but increasingly they are free -- thanks to the Internet. While that is good news for consumers, it could cost the world's wireless companies tens of billions of dollars in lost revenue.

"The main thing is that they underestimated how Americans shop."
Tesco Poised to Quit U.S. -- Tesco Chief Executive Philip Clarke said Wednesday that the company will likely sell or close the company's 199 Fresh & Easy stores. The chain, launched in 2007, sought to lure American shoppers with a novel store format that is bigger than a convenience store, smaller than a supermarket and focused on fresh food offerings.

- Sheena Moore

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