Business digest || McDonald’s cancels free-smoothies plan

McDonald’s cancels free-smoothies plan

OAK BROOK, Ill.

McDonald’s Corp. is scrapping plans to offer free samples of its new smoothies because it’s worried it would run out of the fruit drinks.

In a statement late Thursday, the fast-food chain’s chief marketing officer called the fruit-flavored yogurt drinks “an absolute hit” with “unprecedented demand.”

Sales of the drinks officially began this week but were already being sold in certain parts of the country. The company, based in suburban Chicago, had planned to offer free samples July 22 through July 24.

The smoothies are the latest offering from the company’s revamped McCafe drink line.

McDonald’s is debating whether to reschedule the event.

Gas prices rise

Filling up for a trip to get some respite from the summer heat may cost a few cents more this weekend.

The national average for a gallon of unleaded regular gasoline hit $2.723 Friday, one penny more than a week ago and about 2 cents more than a month ago, according to AAA, Wright Express and Oil Price Information Service. It’s nearly a quarter higher than it was a year ago.

The highest gas prices, averaging from $2.853 to $3.492, are mostly in the West, and the lowest prices, from $2.475 to $2.578, can be found in Texas, the South and parts of the Midwest.

GE profits increase, revenues drop

Cost-cutting and an improved financial business helped General Electric Co. post its first increase in quarterly profit since 2007 Friday, but sales remained sluggish for the industrial and financial giant.

The better earnings ended a long string of declines at the Fairfield, Conn.-based company, which makes everything from refrigerators to jet engines.

Associated Press