REAL ESTATE

Rate on 30-year mortgage at highest level since June

Long-term US mortgage rates rose this week, with the benchmark 30-year loan reaching its highest level since June. Rates remain at historically low levels, however. Mortgage giant Freddie Mac said Thursday the average for the 30-year fixed-rate mortgage jumped to 3.50 percent from 3.44 percent last week. It was the highest level since June, when it averaged over 3.60 percent. Still, the average 30-year rate is down from 3.91 percent a year ago, and is close to its all-time low of 3.31 percent in November 2012. The 15-year fixed mortgage rate edged up to 2.77 percent from 2.76 percent. — ASSOCIATED PRESS

AUTOMOTIVE

Fiat cuts price to sell more small cars

After a rough 2016 for small cars in the United States, Italy’s Fiat is resetting itself for the 2017 model year with lower prices, more content, and simpler packages of features within each offering. Fiat is cutting prices in the United States by 5 percent to 10 percent on many vehicles, based on examples provided by the unit of Fiat Chrysler Automobiles NV. The mid-range version of the 500L, dubbed Trekking, will cost only about 1 percent less but will come packed with previously expensive extras — heated leather seats, a premium BeatsAudio sound system, and a 6.5-inch touchscreen with navigation. — BLOOMBERG NEWS

MUSIC

Pandora revamps $5-a-month streaming service

Pandora said it has revamped its $5 a month Internet radio service, giving listeners the ability to skip and replay more songs. The update, announced Thursday, comes two days after Pandora signed music licensing deals with major and independent labels. It also said this week it planned to offer a new $10 monthly on-demand streaming service by the end of the year that would better compete with rivals Spotify and Apple Music. The new radio service is being called Pandora Plus and will replace Pandora One, which has 4 million subscribers. Those subscribers will be switched over to Pandora Plus and the service will continue to be ad-free. Pandora said the free version, which plays ads, will also be updated. Listeners will be able to skip or replay more songs if they click to play a video ad, the company said. Most people listen to Pandora without paying. It had a total of 78.1 million listeners in the second quarter, down 2 percent from the same period a year before. — ASSOCIATED PRESS

LABOR

Union activists take to the streets in Paris to protest labor law

Protesters throwing planks of wood and Molotov cocktails clashed with Paris police firing tear gas and dispersion grenades Thursday, as unions staged a last-ditch bid to dismantle a labor law that weakens their powers. While thousands of union activists marched peacefully through the French capital chanting about workers’ rights and capitalist abuses, sporadic violence broke out between helmeted riot police and small groups of protesters. At least six people were injured and five arrested, according to the Paris police headquarters. The protest was part of a day of nationwide labor actions against a law adopted this summer that allows employers more freedom to extend workweeks and lay off staff. — ASSOCIATED PRESS

MEDIA

BBC must reveal the salaries of all high earners

The British government says the publicly funded BBC must reveal the salaries of all staff and presenters earning more than 150,000 pounds ($198,000) a year. Culture Secretary Karen Bradley says the move will make the broadcaster ‘‘open and transparent.’’ But the BBC says it will make it harder to retain top talent. The list is likely to include well-known news, entertainment, and sports show hosts. The BBC is funded by a television license fee, and is not state-controlled. But the government sets the terms of the broadcaster’s charter, renewed once a decade. — ASSOCIATED PRESS

TOBACCO

John Boehner, Camel smoker, joins board of tobacco company

One of America’s highest-profile smokers is joining the board of Reynolds American Inc., the tobacco giant that owns the Camel and Newport brands. John Boehner, the former speaker of the House of Representatives, was elected as a director and will start immediately, the Winston-Salem, N.C.-based company said in a statement Thursday. Boehner has said in the past that he smokes Camels, and he’s been photographed with a cigarette dangling from his mouth. Boehner, who left Congress last year, will help guide a company in transition. Reynolds is coping with the decline of traditional tobacco and needs new technologies, such as e-cigarettes and vaping, to help drum up growth. — BLOOMBERG NEWS

RETAIL

Shoppers cut spending in August

US shoppers retreated in August, cutting back their spending at auto dealers, furnishers, and building material stores to depress overall retail sales after four straight monthly gains. The Commerce Department said Thursday that retail sales fell 0.3 percent in August, a tentative sign of caution for American consumers. Rising incomes and job growth have trickled into consumer spending, supporting economic growth even as a strong dollar and low energy prices have hurt the US industrial sector. Over the first eight months of the year, retail sales rose 2.9 percent compared with the same period in 2015. — ASSOCIATED PRESS

FOOD

Kellogg’s to pitch Frosted Flakes to dads

Kellogg Co., struggling with a moribund cereal business, is looking to dads to help boost one of its top brands. The largest US cereal maker is rolling out a new campaign for Frosted Flakes aimed directly at fathers, rather than the moms that typically make shopping decisions. The company also is targeting “tweens,’’ a group it pegs at 9 to 14, which might not be familiar with its longtime mascot. As part of the pitch, Kellogg has a new animatronic Tony the Tiger — developed with help from Jim Henson’s Creature Shop — that made its debut Thursday in New York. — BLOOMBERG NEWS

EMPLOYMENT

Applications for jobless benefits barely move

The number of applications for unemployment benefits barely rose last week, indicating employers remain comfortable with staffing levels. Jobless claims edged up 1,000 in the week ended Sep. 10 to 260,000, a report from the Labor Department showed Thursday. The median forecast in a Bloomberg survey called for 265,000. Continuing claims were also little changed. Applications for unemployment insurance are staying close to a four-decade low as companies with a record number of job openings keep workers on board. The figures are consistent with tight labor conditions, which Federal Reserve policy makers will consider when they gather next week to debate whether to raise interest rates. — BLOOMBERG NEWS

MANUFACTURING

Factory production falls in August

US factory production fell last month amid cutbacks in appliances, home electronics, and machinery, threatening hopes for a manufacturing rebound after two previous months of gains. The Federal Reserve said Thursday factory production dropped 0.4 percent in August, after an increase of 0.4 percent in July. A broader measure of industrial output, which includes mines and utilities, also dropped 0.4 percent. Manufacturers have struggled for the past 18 months with sluggish global growth, the strong dollar, and reluctance among US businesses to spend more on large machinery and equipment. — ASSOCIATED PRESS