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WASHINGTON (AP) — U.S. construction spending jumped in October, fueled by solid gains in home building and the largest increase in federal construction in nine years.

The Commerce Department said Tuesday that construction spending rose 1 percent in October from the previous month to a seasonally adjusted annual rate of more than $1.1 trillion. That’s the highest level since December 2007 when the Great Recession began.

More Americans are buying new homes or renting apartments, driving greater residential development. And federal, state and local governments, spurred partly by greater tax revenue, are building more roads and schools. Construction spending has increased 13 percent in the past 12 months.

The construction of single-family homes and apartments climbed 1 percent in October, also reaching their highest level since December 2007. Manufacturers boosted their construction spending by 3 percent. And federal government building soared 19.2 percent, the biggest increase since October 2006.

Americans are staying in rental apartments for longer, rather than buying a home. That spurred a nearly 28 percent jump in apartment and condo construction in October from a year earlier. Nearly a third of buildings completed so far this year were apartments and condos, compared to just 27 percent before the recession began in late 2007.

At the same time, low mortgage rates and three years of solid job gains have boosted home sales, including purchases of new homes, which have jumped more than 15 percent year-to-date compared with last year.

That boosted construction spending on single-family homes 1.6 percent in October and 11.4 percent in the past year.

Public construction of schools, highways and other infrastructure rose 1.4 percent in October to its highest level in five years. It has risen 6.6 percent in the last 12 months.

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MEXICO CITY (AP) — A Mexican government archaeologist says his team has found a tunnel-like passageway that apparently leads to two sealed chambers in Mexico’s Templo Mayor complex. It’s the latest chapter in the search for the as-yet undiscovered tomb of an Aztec ruler.

The Aztecs are believed to have cremated the remains of their leaders during their 1325-1521 rule, but the final resting place of the cremains has never been found.

Archaeologist Leonardo Lopez Lujan says the 8.4-meter (27-foot) long tunnel was found leading into the center of a circular platform where dead rulers were cremated.

The mouth of the tunnel was sealed by a 3-ton slab of rock, with offerings underneath. At the end of the tunnel, archaeologists can see two sealed entrances.

Outside experts said Tuesday the find would be significant.

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1. Macy’s CEO says there’s one thing everyone is getting wrong about the retail industry

Macy’s CEO Terry Lundgren says the death of the department store has been “grossly exaggerated.” Yet, Macy’s reported this month that its same-store sales declined for the third straight quarter, and Nordstrom also reported that same-store sales slowed drastically in the most recent quarter.

2. The holidays are looking good for retail, even if Black Friday was a bust

Sales at brick-and-mortar stores on Thursday and Friday totaled a projected $12.1 billion — down from last year, according to early estimates from retail research firm ShopperTrak, which nevertheless still forecasts a 2.4 percent increase in sales at traditional stores this season. 

3. Costco chicken salad E. Coli outbreak traced back to celery

Costco is still reeling from its recent E. coli outbreak that has sickened 19 people across seven states. The outbreak was previously linked to chicken salad sold at the bulk retailer, and now the affected ingredient has been pinpointed: a mixture of diced celery and onion that has now been recalled.  The produce mix came from California-based wholesaler Taylor Farms Pacific Inc

4. Dunkin’ Donuts starts delivery in Chicago

Dunkin’ Donuts is delivering in Chicago, according to DoorDash, the food delivery company behind the service. Beginning Monday, delivery will be offered from 7 a.m. to 10 p.m. and is promised to arrive within 45 minutes. A limited menu of doughnuts, bagels and beverages is available.

5. There’s a reason men are dressing better

The internet has changed the experience of shopping for men. There are no lines; there’s no waiting. That’s why, according to researcher IBISWorld, menswear has seen more growth in e-commerce than any other category

6. Walmart is accused of forcing a Marine to stand outside in the rain during a toy drive

Walmart is under fire for allegedly barring a Marine veteran from standing inside one of its stores in Ohio while he raised money for a charity last weekend. The veteran, 69-year-old John Harkness, has been collecting items for Toys for Tots, a children’s charity, inside the Walmart store in Medina, Ohio for 15 years, according to Fox 8 News. But this year, a store manager told him he had to stand outside the store. 

7. Beyoncé is getting her own athleisure line

Topshop’s heavily anticipated partnership with Beyoncé has a release date. The athleisure line, which was announced in 2014, will be available come April 2016.

8. The first Arby’s in Manhattan in 7 years will be ‘different than you remember’

For the first time in almost a decade, Manhattan will once again be home to an Arby’s restaurant. On December 10, the company will open a location in Midtown, New York that will serve as many New Yorkers’ reintroduction to a swiftly evolving brand.

9. Here’s what the logos for Amazon, Levi’s, and HBO Go would say if they were being honest

Clif Dickens, a graphic designer from Nashville, Tennessee, started the Honest Slogans website, which reimagines corporate logos to “honestly” portray companies’ goods and services. Dickens stresses that his creations are for “entertainment purposes only” and he hopes even employees of the brands he satirized would see the blog as “tongue-in-cheek.” 

10. The 10 best ads of 2015

From viral campaigns to Super Bowl classics, we have picked out the 10 best ads of the year. If there was a theme to be woven between the top ads of 2015, it would seem that the advertising trend of the year was tugging on the heartstrings of viewers or promoting the idea of empowerment.

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SAN DIEGO (AP) — A San Diego-area woman is working to honor the memory of a stranger who died hours after he paid for her groceries and asked her to “pay it forward.”

Matthew Jackson, of Oceanside, was killed in a crash on Nov. 11, less than 24 hours after he met Jamie-Lynne Knighten, KNSD-TV in San Diego reported (http://bit.ly/1Prk0aK ).

Knighten was ahead of Jackson in line to pay for her groceries with her crying infant when her card was declined.

That’s when Jackson stepped up and offered to foot the bill, which came to more than $200.

The 28-year-old wanted one thing in return.

“As long as you promise to do it for somebody else,” Jackson said, according to Knighten.

Knighten later called his employer, a local gym, to praise Jackson — only to find out he had died when a car he was in struck a tree.

As a person of faith, Knighten said she believes Jackson didn’t die in vain. She said she is working to further honor the man’s legacy and is encouraging others to pay it forward.

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Information from: KNSD-TV, http://ift.tt/1iHSmIi

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UnitedHealth CEO Stephen Hemsley says the nation’s biggest health insurer made a bad decision when it dove deeper into the Affordable Care Act’s public insurance exchanges this year.

Hemsley says the insurer should have waited and learned more about the still-new business before jumping into two dozen state-based exchanges for 2015. That move ultimately generated losses steep enough to force the company to chop its earnings forecast. UnitedHealth Group Inc. sold coverage on just four exchanges in 2014.

The Minnetonka, Minnesota, company will decide next year whether to sell coverage for 2017 on the exchanges, a key element in the ACA’s push to cover millions of uninsured people.

But Hemsley also told investors Tuesday that any decision to pull back from that market will not be permanent.

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The source of a an E. coli outbreak spanning seven states has been traced back to a single ingredient in Costco’s rotisserie chicken salad: diced celery.

The tainted ingredient came from Taylor Farms Pacific of Tracy, California, according to the FDA.

The supplier has since issued a recall for items that may contain its celery. The recall affects a nearly a dozen retailers including 7-Eleven, Safeway, Walmart, Sam’s Club, Target, and Starbucks.

The strain of E. coli found in the celery is more dangerous than the outbreak tied to Chipotle, because it can lead to kidney failure, according to the Centers for Disease Control.

So far, 19 people have been infected with E. coli in California, Colorado, Missouri, Montana, Utah, Virginia, and Washington.

Five people have been hospitalized, and two have developed hemolytic uremic syndrome, a type of kidney failure. No deaths have been reported.

The CDC said most of those infected had eaten Costco’s rotisserie chicken salad in the week before they became ill.

Consumers who purchased rotisserie chicken salad from any Costco store in the US on or before November 20, 2015, should not eat it and should throw it away, the CDC said.

Costco has removed all remaining rotisserie chicken salad from all stores in the US and stopped further production of the product until further notice.

SEE ALSO: Costco’s E. coli problem has spread to 7 states

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NOW WATCH: IKEA designed easy-to-build shelters for refugees and sent 10,000 of them to refugee camps

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NEW YORK (AP) — U.S. stocks moved broadly higher on Tuesday, helped by improving economic data from Japan and Europe as well as hopes for the European Central Bank expanding its stimulus program. Banks and industrial companies led the gains, helped by the prospect of higher interest rates and growth in manufacturing.

KEEPING SCORE: The Dow Jones industrial average rose 56 points, or 0.3 percent, to 17,775 as of 10:15 a.m. Eastern. The Standard & Poor’s 500 index rose seven points, or 0.3 percent, to 2,087 and the Nasdaq composite index rose 12 points, or 0.2 percent, to 5,120.

INTEREST RATES: Banks were among the largest advancers in early trading. While the ECB is looking to cut interest rates, the Federal Reserve remains on track to raise interest rates later this month. Higher interest rates are good for banks because they can charge more to loan money.

JPMorgan Chase rose 60 cents, or 1 percent, to $67.29. American Express rose 48 cents, or 0.7 percent, to $72.12 and Morgan Stanley rose 71 cents, or 2 percent, to $35.01.

JAPAN DATA: An index measuring factory report in Japan rose to 52.6 in November, the highest reading in 20 months and up from 52.4 in October. The index is based on a 100-point scale, with the 50-point mark separating expansion from contraction. Japanese shares jumped 1.3 percent on the news.

EUROPEAN JOBS: The unemployment rate in the 19 countries that use the euro edged down to 10.7 percent in October, a near four-year low. The drop shows the labor market is improving gradually, though the figures are not expected to keep the European Central Bank from offering more monetary stimulus on Thursday. ECB head Mario Draghi has signaled the bank could expand its bond-buying program or cut interest rates.

ENERGY: Benchmark U.S. crude rose 24 cents to $41.70 a barrel on the New York Mercantile Exchange. Brent crude oil, which is used to price oil internationally, rose 22 cents to $44.82 a barrel.

BONDS, CURRENCIES: U.S. government bond prices didn’t move much. The yield on the 10-year Treasury note held steady at 2.21 percent. The U.S. dollar slipped to 123.02 yen from 123.25 yen on Monday on the Japanese economic data. The euro rose to $1.0635 from $1.0572 and the dollar fell to 122.83 yen from 123.12 yen.

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Fabletics, Kate Hudson’s controversial athletic wear company, looks like it wants to duke it out with its competitor, Lululemon.

The company has posted two videos to YouTube which seem to directly mock the extremely popular athleisure brand.

In one video, Fabletics targets Lululemon’s see-through pants. The company blamed the sheer pants on a supply chain issue, which was fixed two years ago. 

A customer tries to return a pair of pants because they’re see-through, to which a salesgirl responds, “our sheer design helps skin breathe.” 

There’s a flashback to the customer’s unfortunate yoga class experience beforehand.

“Leave something to the imagination with Fabletics,” a cheery voice on the commercial quips.

In a second video, Fabletics takes a jab at Lululemon’s prices.

Lululemon raised the prices of some of the brand’s pants in September, (to be fair, the prices of many of Nike’s women’s pants are on par with Lululemon’s.) 

Still, that hasn’t stopped Lululemon’s fans from speaking out when they’ve been unhappy with price hikes.

In the video, the same salesgirl increases the prices of the pants at the register because they’re “new and improved — they’re black!” The price of the pants increases again, which according to the salesgirl, means “they just got even more exclusive.”

Fabletics’ jabs at Lululemon come at an interesting time for Fabletics. This fall, many people were calling Fabletics — and its parent company, JustFab — scams, citing how the brand’s “memberships” made it exceedingly difficult to terminate subscriptions. 

Business Insider has reached out to Lululemon for a comment and will update when we hear back.

SEE ALSO: People are calling Kate Hudson’s wildly popular clothing company a ‘scam’

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NOW WATCH: One of America’s longtime wardrobe staples could become extinct

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Oil production in the US has skyrocketed since 2010, primarily due t0 due to hydraulic fracturing (fracking) and utilizing horizontal wells. However, the global supply of oil has far surpassed demand. As a result, oil prices have dropped dramatically, and oil companies are facing steep revenue losses.

To combat this, oil companies are utilizing Internet of Things technology to reduce their production costs by becoming more operationally efficient.

In a new report from BI Intelligence, we examine how oil companies are connecting their oil wells, rigs, and exploration devices to the internet in order to gain insights about how their assets are performing. 

Here are some key takeaways from the report: 

• Over the next three to five years, 62% of oil and gas executives worldwide say they will invest more than they currently do in digital, according to a recent Microsoft and Accenture survey. 
• Oil and gas companies will use IoT devices and their associated analytics to survey land for new potential drilling sites and extract the oil from the ground. Among oil and gas executives, 89% believe they can leverage analytics to improve business practices, according to Microsoft and Accenture.
• We estimate the number of devices used on oil extraction sites — primarily wells — will increase at a 70% compound annual growth rate (CAGR). The devices will primarily be internet-connected sensors used to provide environmental metrics about extraction sites.
• By fully optimizing the IoT solutions available, an oil and gas company with $50 billion in annual revenue could increase its profits by nearly $1 billion, according to a Cisco study. 

In full, the report:

• Explains the driving forces for the increase in oil production
• Examines how IoT analytics are being utilized by oil and gas companies in oil fields
• Identifies the types of networks needed to connect the devices
• Discusses the importance of mobile devices to control IoT devices

Interested in getting the full report? Here are two ways to access it:

1. Purchase & download the full report from our research store.» Purchase & Download 
2. Subscribe to an All-Access pass to BI Intelligence and gain immediate access to this report and over 100 other expertly researched reports. As an added bonus, you’ll also gain access to all future reports and daily newsletters to ensure you stay ahead of the curve and benefit personally and professionally.» Learn More Now

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PS. Did you know…

Our BI Intelligence INSIDER Newsletters are currently read by thousands of business professionals first thing every morning. Fortune 1000 companies, startups, digital agencies, investment firms, and media conglomerates rely on these newsletters to keep atop the key trends shaping their digital landscape — whether it is mobile, digital media, e-commerce, payments, or the Internet of Things.

Our subscribers consider the INSIDER Newsletters a “daily must-read industry snapshot” and “the edge needed to succeed personally and professionally” — just to pick a few highlights from our recent customer survey.

With our full money-back guarantee, we make it easy to find out for yourself how valuable the daily insights are for your business and career. Click this link to learn all about the INSIDER Newsletters today.

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NOW WATCH: Google’s self-driving car has a huge problem

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CFO Insider is a daily newsletter from Business Insider that delivers the top news and commentary for chief financial officers and other finance experts.

Growth-savvy CFO is well-placed at streaking Shopify (CFO.com)

Shopify became a publicly traded company in May. The e-commerce software company is now focused more than ever on growth and building new revenue streams.

Leading the charge for Shopify’s financial future is tech and finance veteran Russ Jones, who joined the company in 2011.

With more than 30 years experience in the finance space, CFO.com says Jones is the perfect person to guide the company towards responsible and quick growth.

From several high-profile acquisitions to launching the company’s IPO, Jones brings a wealth of knowledge and business sense to the table. The 56-year-old was “brought in partly to provide some ‘adult’ supervision to the team,” according to CFO.com.

“I get to work every day with people who are pretty much my kids’ age, which is kind of interesting,” Jones tells the publication.

Read the full article to learn why his job is about far more than just babysitting a bunch of young techies.

CFO skills prove critical to M&A success post-merger (Wall Street Journal)

The success of a merger or acquisition depends on the “skillful integration of disparate finances and work processes,” according to The Wall Street Journal.

CFOs are asked to ensure that the proper “cost synergies” are met, and they are often put in the driver’s seat to ensure a smooth transition for all parties involved. 

“No one else in the organization is going to put that emphasis behind [the integration],” Mary Henry, CFO of Foley Carrier Services LLC tells The Journal. 

Here’s why executives at unicorns are closely watching IPOs at other companies (Business Insider)

A recent panel of CFOs at the MIT Sloan CFO Summit highlighted why understanding the private and public markets is crucial for the success of a startup. 

SimpliVity CFO Tom Beaudoin said finance chiefs need to watch the IPO market to “gain a sense of what you aspire to do and to learn what it will take to find a similar level of success.”

Meanwhile, Thumbtack CFO Servase Tholen warned business owners to pay attention to the markets but to avoid news reports that sensationalize the facts.

You can connect with James on Twitter @JamesKosur and follow CFO Insider @CFOInsider.

SEE ALSO: 5 strategies finance departments need to embrace when pushing for tech evolution

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NOW WATCH: This 3-minute animation will change your perception of time

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