Business news digest

NATION

Interest rates rise

NEW YORK — The average annual interest rates charged on most popular types of credit cards rose last week, according to Bankrate.com.

For low-interest cards, which have rates below the national average but are often offered only to customers with strong credit histories, the average APR jumped to 11.52 percent, from 11.43 percent the week before.

For balance transfer cards, which allow consumers to consolidate outstanding debt from one or more cards and sometimes include a low introductory rate, the average annual percentage rate edged up to 13.05 percent, from 12.93 percent last week.

Discounts lure diners

NEW YORK — Deep discounts by competitors lured hungry diners away from Arby’s in the fourth quarter and contributed to a loss for Wendy’s/Arby’s Group Inc.

The company, formed when the owner of Arby’s bought the Wendy’s chain last year, said Monday that it posted a $393.2 million loss on $801.7 million in revenue mainly because of a charge that resulted from poor performance at Arby’s.

Arby’s same-store sales, or sales at restaurants open at least a year, dropped 8.5 percent in North America — a drop the company blamed on promotions and discounting by competitors.

Associated Press