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Business Digest: Radio Shack to close 8 Central Texas stores


RETAIL

8 Central Texas RadioShack stores to close

Eight more Central Texas RadioShack stores are set to close as the electronics retailer continues to struggle financially.

The Fort Worth-based company, which just filed bankruptcy for the second time in two years, shuttered a number of locations in 2015, in an earlier round of closings that affected seven Austin-area stores.

Some of the remaining locations added Sprint stores in hopes of attracting more customers. Two of the eight Central Texas RadioShack locations that will close feature Sprint stores that will remain open.

Liquidation sales are already under way.

The stores being closed are:

  • 120 E. Oltorf St., Austin
  • 5501 N. Interstate 35, Austin
  • 4301 W. William Cannon Drive, Austin
  • 2110 W. Slaughter Lane, Austin
  • 494 W. Texas 71, Bastrop
  • 900 N. Austin Ave., Georgetown
  • 5186 Kyle Center Drive, Kyle (Sprint store will remain open)
  • 2601 S. I-35, Round Rock (Sprint store will remain open)

TRAVEL

Alaska Airlines to fly from Austin to San Diego

Austin-Bergstrom International Airport is getting nonstop flights to yet another destination.

Alaska Airlines said Wednesday it will start daily service from Austin to San Diego, Calif., on Aug. 28.

Outbound flights will leave Austin at 8:30 a.m. each day, arriving in San Diego at 9:30 a.m.

Return flights depart San Diego at 6:55 p.m., landing in Austin at 11:35 p.m.

The new service will operate using Embraer E175 jets.

Just recently, Alaska Airlines also announced new nonstop flights between Austin and San Jose beginning Aug. 27.

The carrier also serves Seattle and Portland, Ore., from Austin.

WALL STREET

Stocks climb following Fed rate hike

NEW YORK — Stocks clambered higher Wednesday for their biggest gain in two weeks and easily absorbed the Federal Reserve’s latest increase in interest rates, a move that was widely expected.

What was perhaps unexpected was the big drop in bond yields and the dollar’s value against other currencies following the Fed’s announcement. The central bank stressed that it plans to move gradually and stuck to its projection that it will raise rates a total of three times this year. That cooled speculation among some investors that the Fed could move more aggressively.

The Standard & Poor’s 500 index jumped 19.81 points, or 0.8 percent, to 2,385.26. The gains accelerated after the Fed made its announcement. The Dow Jones industrial average rose 112.73 points, or 0.5 percent, to 20,950.10. The Nasdaq composite picked up 43.23 points, or 0.7 percent, to 5,900.05. The Russell 2000 index of small-company stocks jumped 20.45 points, or 1.5 percent, to 1,382.83.

The Fed raised short-term interest rates by a quarter of a percentage point, its third such move since the end of 2015. The move was widely expected after various Fed officials gave speeches telegraphing the increase and reports showed that the economy continues to strengthen and inflation has picked up.

FAST FOOD

McDonald’s tests mobile ordering

McDonald’s has started testing mobile order-and-pay after acknowledging the ordering process in its restaurants can be “stressful.”

The company says it will gather feedback from the test before launching the option nationally toward the end of the year. It says mobile order-and-pay is now available at 29 stores in Monterey and Salinas, California, and will expand to 51 more locations in Spokane, Washington, next week.

The rollout comes as customers increasingly seek out convenience through options like online ordering or delivery. McDonald’s CEO Steve Easterbrook has noted the initial stages of visiting can be “stressful,” and the chain is making changes to improve the overall customer experience. That includes introducing ordering kiosks, which McDonald’s says can help ease lines at the counter and improve the accuracy of orders — another frustration for customers. Easterbrook has also talked about the potential of delivery.



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