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November 11, 2014 05:39 AM

Tuesday Morning Business Brief


International stock markets mostly rose today, with Tokyo closing at a seven-year high on renewed weakness in the yen. Investor sentiment also got a boost from another record close on Wall Street. Futures point to opening bell gains this morning. Benchmark U.S. crude fell to just above $76.50 a barrel. The dollar gained against the euro and the yen.

  • Internet providers are lining up against President Barack Obama's call for federal regulators to treat broadband like other public utilities. Obama says the Federal Communications Commission should explicitly prohibit Internet providers like Verizon and AT&T from charging data hogs like Netflix extra to move their content more quickly. Netflix, Twitter, eBay and Google are applauding Obama's statement, but the National Cable and Telecommunications Association calls it an extreme shift that will have "devastating results."
  • Legal experts say a series of emails showing that General Motors ordered a half-million replacement ignition switches nearly two months before telling the government of a safety recall will be heavily scrutinized by federal prosecutor. The email chain was released yesterday by an attorney suing GM. It again raises questions about how forthcoming GM has been with safety regulators and lawmakers, as well as a GM-funded investigation into the defective switches by former U.S. Attorney Anton Valukas.
  • Dockworkers on the West Coast are continuing to negotiate a new contract with port operators even as importers struggle to get their products from massive ships at dockside onto store shelves. A shortage of truck beds to carry containers has caused serious congestion for months at the ports of Los Angeles and Long Beach, by far the nation's largest. Longshoremen have continued working since the contract with their employers expired in July.
  • Ford thinks it has another better idea but the automaker knows the risk for this one is the loss of its crown as the pickup truck king. Ford is scheduled to start production of the 2015 F-150 today, an aluminum-sided pickup that could set a new industry standard. Ford thinks a truck that is lighter and more fuel efficient, but even more capable, will win even more buyers for the best-selling vehicles in the U.S. for 37 straight years. There has been extensive testing.


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