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November 01, 2014 02:02 PM

Saturday Business Brief

NEW YORK (AP) - The stock market begins a new month of trading on Monday and for stock investors, there was no shortage of drama in October. The market slumped during the month, even flirting with a correction, but closed out October at all-time highs. The Dow climbed 1.1 percent on Friday. The S&P 500 rose 1.2 percent and the Nasdaq 1.4 percent. Stocks ended October up 2.3 percent.

  • The average price for a gallon of gas has fallen below $3 for the first time since December of 2010. and auto club AAA say the average U.S. price is now $2.99 a gallon after falling 34 cents in the past month.
  • Lower oil prices are leading to lower gasoline prices. The price of U.S. benchmark crude fell 58 cents to $80.54 a barrel in New York on Friday as increasing production from OPEC members added to already high global supplies of oil. Brent crude, used to price oil in international markets, dipped 38 cents to $85.86 in London.
  • Insurance company American International Group Inc. has agreed to pay New York state $35 million to settle claims that two former subsidiaries did business without licenses and misled regulators about their operations in the state. The deal comes after a $60 million settlement in March with MetLife, which purchased the subsidiaries from AIG.
  • Herbalife says it'll settle a lawsuit that claimed the company's business structure and marketing practices violated federal and state laws. But the weight loss and nutritional supplements company isn't elaborating on terms of the proposed settlement in the class-action case. The lawsuit was filed in April 2013 in a California federal court by a former salesman.
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