Levi Strauss to close N. American plants

Levi Strauss & Co. will close its last manufacturing plants in the United States and Canada, eliminating nearly 2,000 jobs, the struggling jeans maker said Thursday.

Levi will close two sewing and finishing plants in San Antonio by year's end and lay off 800 workers. It will shutter its three remaining manufacturing plants in Canada that employ 1,180 people by March. The company will contract with foreign manufacturing plants.

The move will allow the company to focus on product design, marketing and sales of its jeans, said Julie Klee, general manager of Levi Strauss & Co. (Canada) Inc.

Ohio judge clears way for tobacco lawsuit

A state judge's ruling allows smokers in six northeast Ohio counties to sue tobacco giant Philip Morris USA on a claim they were duped into believing low-tar cigarettes were safer.

Medina County Common Pleas Judge James Kimbler granted class-action status on Wednesday to a pair of lawsuits filed by Akron lawyer A. Russell Smith.

On Thursday, Philip Morris said it plans to ask Kimbler to reverse his order.

Rates fall again for 30-year mortgage

After rising sharply since late June, rates on benchmark 30-year mortgages retreated for the third week in a row, a trend that should help keep the housing market humming.

For the week ending Sept. 26, the average rate on 30-year mortgages dipped to 5.98 percent from 6.01 percent a week ago, the mortgage company Freddie Mac reported Thursday in its weekly nationwide survey of rates.

The rate was the lowest since late July, when 30-year mortgages averaged 5.94 percent.

Rates on 15-year fixed-rate mortgages, a popular option for refinancing, held steady at 5.30 percent this week. Rates for one-year adjustable mortgages edged down to 3.77 percent, from 3.81 percent.