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June 04, 2014 05:41 PM

Wednesday Evening Business Brief

  • Stocks are closing with slight gains. Trading was muted after mediocre reports on the U.S. economy, including a pullback on hiring at private companies last month. The S&P 500 edged up 3 ½ points to close at 1,927, another all-time high. The Dow Jones industrial average rose 15 points to 16,737. The Nasdaq composite closed up 17 1/2 points to 4,251.
  • The price of oil is down today. Benchmark U.S. crude for July delivery oil slipped two cents to $102.64 a barrel on the New York Mercantile Exchange.
  • Dennis Williams is the new president of the United Auto Workers. Delegates to the UAW convention elected Williams today. He's the union's current secretary-treasurer. Williams will replace the retiring Bob King. Williams tells Detroit radio station WWJ that he's looking forward to the union' challenges including contract talks with the Detroit Three automakers next year.
  • General Motors says it will release the results of an outside attorney's investigation into its mishandled recall of small cars tomorrow morning. It took GM more than 10 years to recall about 2.6 million small cars with faulty ignition switches. Documents show engineers knew about the problem as early as 2001.GM says the problem has caused at least 13 deaths.
  • J.K. Rowling has added a subtle comment under her pen name Robert Galbraith about the standoff between her publisher and Amazon.com. The "Harry Potter" author noted in a tweet today there are "lots of ways" besides through Amazon to order her upcoming Galbraith detective novel, "The Silkworm." Amazon is in a contract dispute with Hachette Book Group, and isn't accepting pre-orders for "The Silkworm" and other Hachette releases.
  • Business
  • Economy/Stocks
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