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August 16, 2013 05:24 PM

Friday Evening Business Brief

Stocks have ended a tough week on a down note, hurt by retailers and companies that are sensitive to rising interest rates. The Dow edged down nearly 31 points. The S&P 500 index fell five points. The Nasdaq dropped three. The possibility of a cutback in the Federal Reserve's bond-buying program in September has roiled the bond market. The 10-year Treasury note rose to 2.83 percent today.

  • The price of oil is up for the sixth consecutive day on continuing violence in Egypt and supply disruptions elsewhere in the Middle East and North Africa. Benchmark crude edged up 13 cents to $107.46 in New York today. It climbed 1.4 percent for the week. The average retail price for a gallon of gasoline rose less than a penny to $3.54 per gallon.
  • The Teamsters are dropping a bid to replace another union and represent about 11,000 aircraft mechanics and other workers at American Airlines. The Teamsters say they're pulling out because of the government lawsuit to block the merger of American and US Airways. The union says the suit has thrown American employees into turmoil, and a representation fight between two unions wouldn't help matters.
  • The Energy Department says personal information for about 14,000 past and current employees was compromised after the department's computers were hacked in late July. Information such as Social Security numbers and names was disclosed in the attack. It says no classified data was targeted or compromised.
  • BlackBerry CEO Thorsten Heins could receive as much as $55.6 million if the company is sold and he is ousted from the top job. That's according to a regulatory filing earlier this year. BlackBerry has said a sale of the company is one option that would be considered under a strategic review of the company, which has lost market share to Apple and Android-based phones.
  • Business
  • Economy/Stocks

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